Why pay for tax software, if you can do it for free? I am a fan of StudioTax free software, which you can download here. You can do it from the program over the wire or print the forms and send them by post.
Feed the tax preparation software StudioTax with your data (this is what paid tax services do).
Once you have all documents the process is straightforward. Even if you use tax preparation services, you will need to gather the required papers. The most complicated part of preparing taxes is collecting the required documents and receipts. Thanks to my friend who told me about StudioTax, and his positive experience with it. Although we have a dividend portfolio, profits from lending on Lending Loop, private mortgage income, and rental property, we still can prepare taxes by ourselves. But even now, in our and most of our readers’ cases, it is redundant to pay for tax preparation services. We paid for these services, receiving T4s, without any additional passive income. Our first two years in Canada, we prepared tax return using tax preparing services.
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