SimpleTax Canada User Review (How To SimpleTax In Canada)

SimpleTax is a free online tax filing program that allows you to prepare tax returns if you qualify for a simple tax return. This post will cover all you need to know about SimpleTax Canada, what a simpletax return is, and how to qualify for free online tax filing. There are several online tax filing software options available, such as SimpleTax, that allow you to file tax returns for free, but you must qualify for a basic tax return.

What is Canada’s SimpleTax?

SimpleTax is an easy-to-use, quick, and enjoyable solution to file your income tax return. A unique design and pay-what-you-want pricing concept revolutionize the way Canadians file taxes.

SimpleTax was intended to alleviate the aggravation associated with attempting to sit down and manually do our tax returns; earlier methods of resolving our 5ax issues were discovered to be poorly designed, sluggish, and expensive. This situation does not improve year after year. Now, owing to the creative mind of SimpleTax, we can not only prepare our tax returns from the comfort of our own homes, but also do it independently. This continues to improve as software progresses over time.

SimpleTax is an online tax preparation program that enables anyone to prepare their own taxes. You just enter your name and address, answer a few really simple questions, and then pick whether to manually enter all pertinent tax numbers or let the CRA’s data to magically auto-fill your return. SimpleTax then notifies you of any potentially costly errors you may have committed. If you file electronically, all you have to do is click a button and your return will fly at the speed of light via the internet’s tubes and arrive at the CRA instantaneously. Additionally, SimpleTax assures that you will receive the maximum return available.

Jonathan Suter, his partner Allison Suter, and their friend Justin Reynen founded the firm barely seven years ago. As with the rest of us, these gentlemen feared filing their taxes. When they saw that the majority of Canadians, even those with the simplest returns, paid professional preparers a lot of money to avoid filing their taxes themselves, they saw a chance to hack the process.

It is critical to note that Wealthsimple bought SimpleTax in February 2021, and SimpleTax is now known as Wealthsimple Tax. To avoid confusing our readers, we will continue to use SimpleTax for the purposes of this article.

 

SimpeTax Resolves Business Issues

On the surface, the problem that SimpleTax solves is rather basic; it assists you in filing your personal tax return with the Canada Revenue Agency, making the procedure quick and painless.

The larger issue that SimpleTax is attempting to address is people’s dread of paying their own taxes. Fear is an often used strategy by businesses in this instance, “if you do it yourself, you’re going to make a mistake.” This is why tax preparers can charge a substantial fee or a portion of your refund for even the most straightforward forms. While accountants are beneficial for people with complex tax circumstances, the majority of Canadians should be able to prepare their own tax returns with the correct equipment.

What is a Simple Tax Return?

 

A simple tax return is the simplest sort of return that may be filed. Each tax filing program has its own definition of basic tax returns, however they all include the following:

1. W-2 earnings

2. Income from interest and dividends is limited

3. Customary deductions

4. Earnings from unemployment

5. Several of the greatest tax software systems also contain the following:

6. Tax credit for earned income

7. Tax credits for children

8. Deductions for student loans/education

9. For instance, H&R Block covers all of the aforementioned scenarios. Whereas TurboTax takes care of everything except student loan/education deductions. When you enroll in a tax service, it will walk you through the prerequisites for filing a basic tax return.

What If You Are Not Eligible for a Simple Tax Return?

 

If your financial situation is more complex, you’ll need to file a more sophisticated tax return. The majority of tax software packages demand a fee for complicated returns. Consider the following instances in which you will not qualify for a simple tax return:

• You work independently or as a freelancer (1099 tax forms)

• You own a modest business.

• You get revenue from rental properties.

• You’ve earned money through investments such as bonds and stocks.

• If you’re utilizing a software application to complete your tax filing, you’ll be notified if you’re unable to submit a free basic tax return and must instead upgrade and pay for a more sophisticated return.

Additional Free Simple Tax Filing Software Alternatives

Apart from SimpleTax Canada, which is an excellent option for simple tax filing, there is additional simple tax filing software available. We will provide you with a list of the top five simple tax filing software; our objective is to raise awareness about this topic and to assist you in selecting the software that is best suited to your needs if you are not comfortable using SimpleTax. TaxAct is the sole exception, charging $39.95 for each state return; submitting a basic federal tax return is free.

The following are your options:

1. TurboTax is the best all-around tax software.

2. H&R Block is the runner-up.

3. Credit Karma Tax is the best free tax software.

4. TaxSlayer is the most economical tax software available.

5. TaxAct is the best in terms of ensuring accuracy.

If you need to submit a more complicated tax return, all of the tax filing systems, save Credit Karma Tax, offer deluxe, premium, and self-employed options.

To evaluate which tax software provides the greatest online filing experience, we tested 12 packages. We compared each program on a variety of criteria, including the following:

• Cost

• Enhanced user experience

• Qualified tax help

• Guarantee of accuracy and maximum refund

• A+ rating from the Better Business Bureau (BBB)

• When available, customer reviews

• Cost was a significant consideration. While many of these services are free, many people have complicated financial situations that need paying to do their taxes. We compared the cost of each plan and the features included, such as the ability to optimize deductions and credits. The more value for money a service provides, the higher it is ranked.

Whether you’re new to tax filing or a seasoned pro, user experience is critical to efficiently filling out and completing your return. We required that the services we selected be generally user-friendly.

The availability of a tax professional or support representative was a significant bonus. Four out of five of the top tax software packages included some kind of customer help. If a service offered a substantial accuracy guarantee and a maximum return guarantee, it was scored better.

Additionally, we analyzed the software’s Better Business Bureau rating. BBB ratings assist in determining if a firm is functioning responsibly and assisting in the quick resolution of consumer concerns. Additionally, customer reviews were considered.

After evaluating the aforementioned characteristics, we ranked our selections according to the following criteria: best for overall tax filing, runner-up, free tax software, most inexpensive, and greatest accuracy guarantee.

Fees for federal and state filings for the aforementioned software applications are subject to change without notice. Because many systems do not charge you until you file, there is a possibility that the costs will alter between the time you begin your return and the time you submit it.

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