Buying Corporate Return Tax Software?

If you have a reasonably simple company return to do, you’ll need to file a T2 return. If you have a reasonable understanding of assets, liabilities, and your income statement, there isn’t a reason you can’t do it yourself in about an hour or two. If so, it’ll save you around $500 over an accountant doing your return – but only if you’re comfortable with it.

Two companies sell T2 tax software. You’ll need to buy the “business incorporated” program. The two are from UFile or Intuit (Quicken). They both do the same thing – obviously – but are VERY different prices.

UFileT2 is $147 with a $25 coupon (below). Intuit Turbotax Business is $250. I have no idea why it’s double the price for something that does the same thing. Their media relations spokesperson Bryan Tritt promises to get back to me with an answer to that question. I’ve been waiting over 90 days to hear back as of today…Guess no answer is still an answer…

If you’re not sure you have the basic knowledge to do it, the UFile program is on-line for free. You only pay once you’re ready to press the “submit to CRA” button. So give it a go…and both programs have warnings if something is missing or incorrect in your numbers…

George Boelcke – Money Tools & Rules book – yourmoneybook.com

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