Learned "the hard way":
1. Don't run it on Mac OS Safari.
It claims it is compatible. It is not. It kept insisting that to perform an operation, I had to enable Cookies. Cookies were enabled. It kept insisting. I was stuck. I abandoned Safari for Firefox. (It's true that the Elect use Macs, but in this fallen world, not all software runs on a Mac browser like Safari. In the age to come, this problem will be rectified.)
2. Save every second breath.
Trust me on this. If you run off to find a paper or something, you'll come back and find it has logged you out -- and will not bring you back to the screen you were on. I had to enter one page of data three times.
3. When doing the initial interview, it expects you to know everything from the get-go. "Do you have other deductions?" -- how should I know -- isn't that what we are about to find out?!
When in doubt, say "yes" -- you can always skip over the relevant prompts later.
4. If you select "No" on something, but QuickTax has carried data in from a prior year, the data will still be there. You either have to use this data, or scrub it. I learned this lesson the hard way.
5. If you run a small business, select the Other Type of Business box.
And that's the way the taxed-out Ball bounces.
6 comments:
Next year buy the program, Quick tax pro. I have never had a time out etc. So far I have not received info that they will switch to Turbo tax.
Congratulations on finishing. Now you just have to wait for the assessment.
You might find it cheaper to consult a good tax preparer. Such a person would prepare/review your return with an eye to maximizing your legal deductions and minimizing your taxes. Not to mention the added bonus that said pro would also pick out the errors - particularly on your business return - that would make you low-hanging fruit during an audit.
Thank you maryT and Frances for your good advice. But, you both said doing your taxes was fun -- you wouldn't want to deprive me, would you?!
The music business is very small -- not a lot going on there. My software business is professionally done, and there are all kinds of issues that come up that make it worth having an accountant because the tax system is SO complex.
Question for Frances, why is it some people are convinced that if they don't deposit an income cheque it is not taxable. Just told by a new client, well if we just cash it, it's not taxable. Oh, then how do you explain the cash deposits in your account. Finally found proof of another account, funny he has several bills paid by debit card with no withdrawals from stmts he gave me.
When I get done with him I am applying for a position with the AG. lol
It has been a "fun" couple of days.
The tax forms make it quite clear that we must legally declare all income however earned, paid, and spent.
It doesn't have to be a cheque -- it could be cash and you may have spent it immediately; still have to report it.
What gets me a bit is it doesn't even have to be cash -- it could be a barter where you did $100 worth of work for me (shoveled my snow) and I did $100 of work for you (cut your grass) -- we each earned $100. I find that a bit much!
I have no time for Canadians who feel entitled to "draw" from our generous social net -- healthcare, pensions, etc. -- but want to exempt themselves from their social obligation to fund it.
There's another "rumor" going around that the first $30,000 or so of money earned in a new business is tax exempt and doesn't have to be declared -- heard that one?
Missed that rumor. But,even illegal money must be reported, altho they will not report you to the police.
I once did a return for a "lady" who lister her employment as a Night time entertainer.
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