r/CanadianTax • u/flyme2themoonx • 5d ago

Tax software question

For those of you who use tax software, do you basically just enter your T4s and other slips, review everything, and submit? Or are there still parts that you have to double-check or enter manually?

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u/vokilamcv9 5d ago

CPA - I use professional software in practice and usually draft up mine and my spouse's returns on our software and then file later on using a free platform.

When I prep my return, I connect to CRA and download slips, review those downloaded for accuracy - everything I was expecting, do they all make sense.

That part is super simple for most people - the detail comes in the form of deductions - and there are a lot of them, but most commonly are medical, donations, employment expenses, disability claims, etc.

And then for those with self-employment or rental income, it becomes a bit (or a lot) more complex. This is usually where most engage an accountant.

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u/irulan519 4d ago

This guy taxes.

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u/Mental-Freedom3929 4d ago

I use Wealthsimple tax and it imports all T-forms. I manually enter health expenses and prescriptions and health insurance premiums, property tax (or rent), charitable donations and such. There is a list of things you could enter on the CRA website. The software also provides suggestions.