The Frugal Canadian

A frugal spender seeks to find new ways to save money and increase her net worth.

Saturday, February 02, 2008

2007 Tax Software Reviews

It's that time of year again when many Canadians are starting to buy personal tax software packages. It can be confusing for many people and each year the number of software providers is increasing. I personally find the most popular tax program QuickTax to be the most expensive and most confusing. This year they've come out with about 4 different versions. For most Canadians, they are buying a software package to make the tax filing process easier. QuickTax however, starts off by making the process more complicated than needed. They offer many different versions raning from a Basic to Business Version leaving the taxpayer with questions about which product is best for them. When I first looked at the options this year, I thought I may have mistakenly ended up at the Windows Vista page. Given the wide array of products out there for Canadians, I recommend looking around at other alternatives. Many of the new programs allow you to download the program and try it out before purchasing. My top picks for the 2007 tax year are StudioTax for Windows and TaxFreeway for the Mac. Here's a chart to help you wade through your options.

6 Comments:

At 7:10 PM, Anonymous brad said...

hi there,

thanks for the useful chart of options. i know that UFile has an optimization for the new pension sharing for seniors that could easily pay for itself. i would take caution and would at least plug my numbers into ufile.ca to see if i'm getting the most back as possible.

 
At 1:41 PM, Anonymous squawkfox said...

Hi Frugal,
I've posted reviews on StudioTax 2007 (http://www.squawkfox.com/2008/01/27/review-studiotax-2007/) and UFile 2007 (http://www.squawkfox.com/2008/01/13/review-ufile-standard-2007/). I'm really interested in what you think of TaxFreeway since I use a Mac at home.

 
At 7:51 AM, Blogger Kemstone said...

I am curious as to why you picked StudioTax over Taxfreeway. Is it primarily the low cost or is it also functionaly preferred? I like many others am fed up with QuickTax's continually price increases and reduction in # of returns allowed. My main beef with Ufile is it does not allow you to enter directly to returns and only has the interview entry approach.

 
At 10:53 AM, Blogger The Frugal Canadian said...

I chose StudioTax over TaxFreeway for Windows purely based on cost. I think that both programs are very similar in terms of ease of use and functionality. For all the price differences with all the different tax packages at the end of the day, they'll all get your taxes done. The differences between most programs are nominal and the I personally feel that the lower cost product is the way to go.

 
At 6:43 PM, Anonymous Brad said...

I would really like to read about positive results people have with "optimization".

And not just that product A gave them a bigger refund than product B, but details on why that happened (i.e. A had me claim or report something different that provided savings)

I must admit I don't buy into the hype. Please help me believe the TV commercials for Ufile and Quicktax.

I want to think product A can give me a bigger refund.. but my intelligence tells me the tax laws are equal and as long as I claim things properly, I will get the same result.

There is no broken software, just broken users.

 
At 10:30 AM, Anonymous Raj said...

Great review. I used (and reviewed) StudioTax’07 and would certainly recommend it to individuals.

 

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