Canadian Tax Software

Tax preparation software isn't just for calculating your taxes; it's also an excellent tax planning tool. Here are the best for small business people filing T1 (personal) or T2 (corporate) tax returns.

Does the Canadian tax software you've tried live up to its promises? Use this form for tax software reviews to share what you think of the Canadian tax software or online income tax preparation service you've used. See submissions

The CANTAX line of tax software for Canadian small businesses and tax professionals includes CANTAX T1 personal income tax software and CANTAX T2 for preparing corporate tax returns. Demo versions are available.

You can't use this tax software if you live in Quebec or for preparing corporate tax returns but there are two great things about this Canadian tax software. Purchase GenuTax once and future annual updates for the income tax software are free. And there's no limit on the number of tax returns you can prepare and file (unlike most tax software programs).

This is the Canadian tax software I use; it has a intuitive interface, lots of built-in help (including a step-by-step lead-through if you want it), and features such as analyzers to help with tax planning. Many Windows versions are available, including one for incorporated businesses.

Tables on Diskette is a stand-alone computer program from the Canada Revenue Agency that calculates payroll deductions for all pay periods, provinces, and territories (except Quebec). Tables on Diskette can be used up to December 31, 2010, to calculate payroll deductions; as of January 2011, employers should use the Payroll Deductions Online Calculator.

These Canadian tax software programs for the Mac OS let you prepare T1 (personal) income tax returns and T2 (corporate) income tax returns (fully bilingual). There's also a version of this tax software available for Windows for preparing T1 tax returns. TaxTron used to be GriffTax.

Currently this Canadian tax software program only offers personal income tax preparation (T1), but it has the capability to handle any kind of self-employment income and calculate capital gains - and can be used by Quebec residents. Ufile also offers online income tax preparation and filing.

Similar to WinTOD, WinTax is a Canadian payroll tax calculator that calculates taxes on regular salary, bonus, retroactive pay and commission. Calculations include CPP, EI, Federal tax and Provincial tax (including Quebec). From HR Club.