Features
NEW! Free Tax Advice from Real Tax Pros.
Have a tax question? Get real answers and 1-on-1 service from real Canadian tax professionals with TurboTax Free Tax Advice.
From February 10th to May 4th 2012, TurboTax Free Tax Advice connects you to highly-trained Canadian tax pros - live and 24/7 - so you get the tax answers you need when you need them.
With TurboTax Free Tax Advice, you get:
- Personalized service and attention: Specific answers to your specific tax questions
- Phone advice: Speak directly to a qualified Canadian tax expert
- Live chat: Talk to an experienced pro through our chat window
And yes, TurboTax Free Tax Advice is really free. There's no gimmick, catch or condition. It's free tax advice from friendly and experienced tax professionals.
TurboTax Accurately Guides You Step-By-Step To Your Maximum Refund. Guaranteed.
Just like a GPS in your car, TurboTax literally maps out your return as you make your way to your maximum refund with these handy and helpful features:
- Mapping icons: Know exactly what stage of your return you're in, and how far you need to go to finish
- Set flags anywhere: Easily mark sections you need to revisit, so you can find them again later - without getting lost
- Accuracy check: Double-checks your return for errors, helps you correct them and ensures every tax-saving opportunity has been found
What does this mean? It means that you can have confidence knowing your return is accurate. It means that you'll know exactly when one section is complete and you're ready to start another. It means that you'll know exactly where you are in your return, and how far is left to go. And it means that you're in control over how and when you prepare your return.
Imports Data From QuickBooks.
You can import your QuickBooks income and expense data directly into TurboTax 20.
By importing data from QuickBooks, you:
- Enter less information than if you started from scratch
- Lessen the room for errors
- Save time while improving accuracy
Business Tax Made Simple. For Sole Proprietors, Unincorporated Businesses and Consultants & Contractors.
Small business owners know the value of hard work - after all, it takes a lot of effort to maintain a successful home-based business. And when you work for yourself, you tend to skip the coffee breaks.
That's why TurboTax 20 looks out for small business owners & contractors... so that you can save time and keep the filing process simple. Thanks to step-by-step guidance, including the EasyStep™ Interview, TurboTax 20 helps you easily & confidently prepare personal, business or multiple tax returns.
Plus, the Business Expert Interview highlights possible self-employment deductions - like your vehicle, supplies and utilities - as you answer plain-language questions. It's all part of helping you get every business deduction you deserve.
Business taxes don't have to be hard. In fact with TurboTax 20, it's pretty simple.
You're Investing Now to Secure Your Financial Future. We Get It. And We Can Help.
TurboTax 20 includes tools designed to help maximize the tax benefits of your RRSPs, mutual funds and other investments:
- Capital Gains Analyzer: Calculates capital gains and losses for you and optimizes claiming them on your return
- RRSP Optimizer: See how different RRSP contribution amounts affect your refund or tax owing
The result? You can confidently complete even the most complex personal tax return - and benefit today as well as at retirement.
With TurboTax 20, you can find deductions you may not even have known you were entitled to, which means less money owed or a better refund.
Should You Split Your CPP Income? TurboTax Has The Answer.
TurboTax 20 features the CPP Sharing Optimizer, a handy and helpful tool which will help you decide if splitting your Canada Pension Plan income with your spouse will be beneficial for you both.
Rental Property Guidance: Get The Profit, Minus The Hassle.
Do you own a rental property? Or rent out a room in your home? Have you ever made repairs to your rental property? Rental properties can, and should be, a great investment opportunity for your day-to-day life & your future plans. Make the most out of your rental income by claiming every possible expense in multiple tax returns with TurboTax 20.
TurboTax 20 provides extra guidance for rental property income, helping you determine eligible expenses and providing tips for refinancing.
Exclusive to TurboTax! The Deduction Toolbox. With Powerful Tools to Help You Get Back Every Penny You Deserve.
We don't need to tell you that more deductions mean a bigger tax return. But maybe we do need to tell you about some of the deductions/credits you're entitled to... after all, you may qualify for any of 400 available to Canadians.
That's exactly what the TurboTax Deduction Toolbox does. With tools like the A-Z Deduction list, it does the hard work for you - and ensures that you don't overlook any items to claim, from medical expenses to tuition to charitable donations.
TurboTax Helps Optimize Your RRSP Contributions.
See how different RRSP contribution amounts affect your refund or tax owing with TurboTax's RRSP Optimizer tool. It helps you determine the optimum RRSP contribution amount for you and your spouse.
Then, you can contribute to your RRSP accordingly...and make the most out of your money.
TurboTax Handles Changes in Your Life.
Your life has probably changed over the course of 2011. Maybe you graduated university and got a job. Maybe you got married or started an RRSP. Much of what changes in your life can impact where you stand as a Canadian taxpayer... so TurboTax 20 family tax software helps you make sense of it all by asking "real life" questions that translate to fields in your tax forms.
TurboTax Personal Tax Profile asks you simple questions about your life. As you answer, TurboTax determines what tax slips and receipts you have to enter, and automatically applies the credits and deductions you qualify for.
Carry Forward Last Year's Tax Data. (Including UFile® or H&R Block® Desktop Software.)
Save time entering data by automatically updating your current year's return with personal information & carry over amounts from last year's TurboTax return. Even better, you cut down on human error when you automatically update, so accuracy is ensured. You can import from:2
- TurboTax desktop software for the 2010 tax year
- UFile® desktop software for the 2010 tax year
- H&R Block® desktop software for the 2010 tax year
That means that, even if you used a different software program last year, you can still use TurboTax and reap the benefits without re-entering data.
Do Your Return in Just a Few Clicks. How? With the TurboTax Automated Tax Return.
Ever wish you could do your taxes in just a few clicks? With the TurboTax Automated Tax Return, it's almost that easy.
First, TurboTax imports your electronic tax slips from the website of your payroll and/or RRSP provider - or your epost.ca inbox. Then it automatically enters the right data on the right tax forms. You simply check over your return... and your taxes are done. Manual data entry is nearly eliminated!
Current TurboTax Partners include:
- epost.ca
- cifunds.ca
- canadahelps.org
Split Your Pension Income to Reap the Tax Benefits.
Reduce your taxes by splitting pension income with your spouse or common-law partner. Whether you have corporate pension plan income or income from a Canada Pension Plan, we'll guide you through how to distribute that income for best results. In fact, the Pension Income Splitting Optimizer will automatically propose the best distribution of your pension income (up to one half), which can help you & your partner pay less in taxes.
TurboTax Reviews Your Return Before You File.
All you should be concerned with is entering your information. Let us take care of double-checking your return and making sure everything is in order. TurboTax reviews your return before you file by:
- Reviewing your return for errors before you file
- Looking for missed deductions that you may qualify for
- Pointing out money-saving opportunities you should take advantage of
- Helping you get the biggest refund you deserve
NEW! Audit Risk Alert.
Once you've finished entering information into your return, the Audit Risk Alert will let you know if the tax claims you've entered may trigger a CRA audit.
By letting you know of your potential risk for a tax audit before you file, TurboTax allows you to:
- Make an informed decision about the deductions that you're claiming
- Have professional representation at the ready by adding Audit Defence to your product
Red flags in your return can result in the CRA asking for more documentation, requesting an in-depth review or a full audit. With Audit Risk Alert, you'll have a better understanding of how the CRA will review your return before you send it.
File Online - The Paper-Free Way. And Get Your Refund in as Little as 8 Days.
When you've completed your simple tax return with TurboTax Premier, save yourself a stamp and save a tree... by choosing to file with NETFILE3 instead of printing out your forms and mailing them in to the CRA. Many people who file with NETFILE get their refunds in just 8 business days.
To NETFILE, you'll just need an Internet connection and the online filing code the CRA provided on your 2011 T1 personal income tax return package (along with your 2010 Notice of Assessment).
Audit Defence: Get a Professional on Your Side.
No one wants to get audited by the CRA, but that doesn't mean it can't ever happen to you (even if your return is 100% accurate). And if you do get audited, you shouldn't have to go through it alone. That's where Audit Defence comes in.
In the event that the CRA audits you, Audit Defence by Canada TaxResources Inc. connects you with an experienced tax professional who will:
- Deal directly with the CRA on your behalf
- Help to minimize CRA penalties, if they occur
Best of all, Audit Defence gives you the peace of mind that comes with having a professional on your side.
How Can You Get Audit Defence on Your Side?
Just add it to your TurboTax product from within your copy of TurboTax 20. Some restrictions apply.4
| 1 |
If you get a larger refund or smaller tax due from another tax preparation method, we’ll refund the applicable TurboTax purchase price paid. Claims must be submitted within sixty (60) days of your TurboTax filing date and no later than 5/31/12 (and for TurboTax Home & Business no later than 7/15/12). Audit Defence, TurboTax Free, TurboTax Student (Free), TurboTax Business Incorporated and technical support fees are excluded. This guarantee cannot be combined with the TurboTax Satisfaction (Easy) Guarantee. |
| 2 |
Imports .U09 files from UFile or H&R Block. UFile® is a registered trade-mark of Dr. Tax Software Inc. H&R Block® is a registered trade-mark of H&R Block Canada, Inc. |
| 3 |
Income tax preparation software companies must seek NETFILE Certification from the Canada Revenue Agency (the “CRA”) for tax preparation software products that are to be used in conjunction with CRA’s NETFILE electronic tax filing service. NETFILE Certification of this product from the CRA may or may not have been obtained at this time. Please consult the CRA website at netfile.gc.ca beginning February 2011 to determine the status of this product’s application for certification. |
| 4 |
Internet connection and acceptance of product update is required to access Audit Defence purchase details. Audit Defence is not available for residents of the province of Québec. Does not include GST/HST and other non-income tax audits and reviews unless the issues are ancillary to the income tax review itself. Includes field audits through the restricted examination of books, but does not include the “detailed financial audit”. |
| 5 |
For Basic, email and phone support is free. For Standard, Premier, Home & Business and 20 Returns, technical support by phone, email and chat is free. For Business Incorporated, technical support by phone and email is free. Long-distance charges may apply. Limitations apply. Intuit reserves the right to limit each telephone contact. Support availability subject to occasional downtime for systems and server maintenance, company events, observed Canadian holidays, and events beyond our control. See turbotax.ca/support for more details. |
