I have been researching for an affordable tax software for Canadian corporation tax return which is called T2.
I went through each website of the T2 tax software certified by CRA – Canada revenue agency. There are around 20 of them.
The one I am looking for is for simple tax return with most affordable price. I can’t even find the price on UFILE’s website for its T2 software. Most of them are more than $100 and up. The most affordable is T2 express whose 1 tax return is $39.99. I am going to try it out and let you know. Stay tuned.
For my personal tax, I used Wealthsimple Tax for quite a few years because it is user-friendly and free. I am quite satisfied with it. Unfortunately, it doesn’t offer a corporate tax software. Otherwise, I will definitely give it a try. I think they should capitalize on the popularity and do some cross sell to its existing customer base.
For my volunteer work for the low-income families and individuals, I used UFILE which seems mandated by CRA for volunteers. It is not easy to find where to enter the information because the search function is not very helpful. Sometimes, I have to asked my teammates who are more experienced for help. It does have a corporate tax T2 software, but I can’t seem to find the price on its website! It only says it is free to try. I just gave up. Usually after I try, I will just use it. Who would bother to enter all the information again in another software even if they don’t like the price? I don’t like this free bait approach, so I turned away.
Last but not least, please make sure to set aside 20% to 30% of your income for tax. Don’t want to get a tax bill shock and get into debt.
Hope your tax season is smooth and worry free this year.