![]() ![]() Tools like these go a long way in alleviating some of that workload. ![]() The daunting nature of owning a business while handling its tax returns on your own is a heavy burden for novice entrepreneurs. While tax filing for anyone can be a harrowing experience, it is more so for small business owners. Why you need the best tax software for your small business Some downsides include a lack of provincial tax filing for Quebec and the absence of corporate tax filing. ReFILE is available through its GenuTax Standard version of the software. Along with auto-filing of tax returns, re-filing is also allowed in which users can modify an auto-filed tax return after it’s been submitted. It’s suitable for most tax situations, including capital gains, rental properties, and small businesses. The tax filing process is interview-based and practically effortless. GenuTax is free and the software company makes money through donations from its users. The cost is much lower than what you could expect to pay to a professional CPA office at $99.99 for the single license corporate plan. Patrons and users of the software laud it for its ease of use, smooth functionality, and low price. It is available on macOS and Windows for both T1 (individual) and T2 (corporate) tax flavours. TaxTron is a downloadable software for your tax filing needs. ![]() SimpleTax can handle most tax group requirements but doesn’t support corporate tax. SimpleTax has all the features you might need for your tax filing purposes and provides them for a nominal price - including free! Besides the basics, you can use it for e-filing - a built-in refund optimizer maximizes your refund and you see your refund amount update in real-time. Their email-only customer service option, however, might irk many small business owners looking for support. Their plans are cheap with the most expensive being under $20 without state tax and GST. It has multiple plans and UfileT2 handles corporate tax returns. It files taxes directly to the CRA (and Revenu Quebec) through a simple interview-based process. Ufile boasts the standard set of online tax filing features and more. While it’s primarily geared as a sophisticated tool for tax professionals, small businesses could use it for their T1s or corporate tax returns. Two features - the Quick Entry screen which pulls data from various tax forms and the Pathfinder which acts as a guide between the forms and the return - make Cantax easy to work with. Aside from online tax services, H&R block still offers its legacy expert tax review process to improve your return and reduce deductions. Their plans are also very affordable and available in three tiers - the basic free version, the “Assistance” service for $19.99 and the $29.99 business edition. H&R Block has been in the tax filing business for decades and offers the standard tax features such as return auto-filling, past return importing and express notice of assessment. This advertisement has not loaded yet, but your article continues below. For anyone looking to streamline their tax filing workload, TurboTax is easy to use and provides excellent customer service as well as online support. The plan doesn’t have a free trial, however. While TurboTax Canada provides similar features as QuickBooks like tax e-filing, payroll and employer forms, and data verification, the TurboTax Business plan comes for $34.99 as a one-time payment. Expert human advisors are also available for those who need assistance. Aside from fast filing and helpful form prompts, Wealthsimple also has popular tax-saving accounts like RRSPs and TFSAs for those who want to take advantage of them. Wealthsimple joined forces with tax software company SimpleTax to become Wealthsimple Tax and offers tips to maximize refunds along with fast and accurate filing. Following are the best tax software products for small businesses all of these are CRA-approved, and all prices are in CAD. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |