Smart Cookies

United States
If you have an adjusted gross income of $57,000 or less, you are one of the 70% of Americans that now qualify for simple federal tax filing for free.  Choose between one of the 20 different online tax-prep vendors by visiting www.irs.gov/freefile.

Canada
In Canada filing your returns electronically will cost you nothing when you use Canada Revenue Agency’s Netfile system.  Unlike the States, tax preparation software in Canada is not yet government subsidized and can range from $10 o $40 using programs like Ufile and Quicktax.    But this year try using the donation-supported, free tax prep program, StudioTax.  Studio tax is certified for Netfile, supported by loyal users, and does not require an Internet connection so not only do you avoid entering your earning information online, you can be sure you are not signing up for spam or spyware.

So now that you’re excited to get going on your taxes, make sure you’re aware of the tax credits you can benefit from. If you’re starting a family, have just bought a house or take public transit you are eligible for more deductions. Read today’s Smart Cookies’ Globe and Mail Article on Tax Tips for the Young and the Restless to stay informed.