Income Tax Filing Deals, Credit Cards, and Monday Money Links

With the income tax filing deadline right around the corner (April 30 for personal returns), it’s time for DIYers to think about what tax software to use.

Although lately, we’ve been using our corporate accountant to file my personal return, I always use a tax software to get rough numbers on whether or not I owe, or will get a refund.  It also gives me an opportunity to compare my numbers to my accountant’s results.  Maybe I have trust issues…


Anyways – last year, I used a free online service called SimpleTax.  I must say that I’m very impressed with their offering as it is extremely easy to use and comprehensive – perhaps the easiest that I have ever used.

It’s 100% free to use but when you file, you’ll have the option to contribute a nominal amount to the company.  You can choose $0, but you’ll likely want to pay more once you use their service.  Check out SimpleTax here.


Another popular option, perhaps the most popular option in Canada, is to go with TurboTax.  If you are a regular user of TurboTax (I know how convenient it is to pull up your information from previous years).


Another free piece of software that is quite popular among deal hunters is StudioTax.  While StudioTax is great, it’s not quite as easy to use as SimpleTax above.  Feel free to check it out/download it here.

Monday Money Links

Credit Card Genius has added a new feature to its website where Canadians can add reviews to their favorite credit cards. Check out the current reviews and/or leave a quick review of your favorite credit card.

Have you ever heard of Warren Buffets Annual Letter?  Well, here is Robb Engen’s Annual Letter to Households that is more relatable.  Good job Robb!

Mark from My Own Advisor is a well-known dividend investor.  Here are some of his favorite dividend stocks (and mine as well)!

Gen Y Money writes about how she packed for a 12 day trip with a 6-month-old baby.. and get this… using only a carry-on!

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FT is the founder and editor of Million Dollar Journey (est. 2006). Through various financial strategies outlined on this site, he grew his net worth from $200,000 in 2006 to $1,000,000 by 2014. You can read more about him here.
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Karl Schrader
3 years ago

Studio Tax is not free anymore, they now want $ 170.- for it.

Jeremy Frank
3 years ago
Reply to  Karl Schrader

Where did you see this? According to their official website, it is still free for personal use. Perhaps you were looking at their “enterprise” offering for professional tax preparers?

David Schmidt
3 years ago

I also use turbo tax. It seems pretty straight forward and the results come out to what I’ve calculated myself.

Leo Ly @
3 years ago

I have been using UFile for the last ten years to file my taxes. For the price of $27.99 I can file 12 returns. It’s pretty straightforward.

3 years ago

Just wondering how your own numbers compare to your accountant? I’ve done my taxes myself every year but with a couple rentals they’re starting to get complicated. I’m wondering if it’s better to use a CPA but I’m not sure if the tradeoff and higher fees is worth it?

3 years ago
Reply to  FT

Ok thanks, definitely something to consider as my taxes get harder. Sometimes I’m not sure what to do so the advice of a CPA would be handy.

3 years ago

Thank you so much for the mention FT! :)

Last year was the first year I handed over my tax return to my sister in law who is an accountant (usually I do it myself). I had some trust issues initially but got over it eventually, haha :)

Jeremy Frank
3 years ago

Speaking of trust issues, trust will have an impact on what tax software you pick.
Online software: You are trusting your personal financial numbers to the software vendor, trusting that they keep them secure and backed up.
Offline software: You are trusting yourself to keep backups.
(I personally trust myself more than others, so I have been using StudioTax for years so I am in control!)