Your T4 has arrived (or soon will) telling you tax season has arrived. I found years ago that it’s nothing to be feared thanks to the amazing tax software we have available to us. Don’t let tax season raise your blood pressure. Take charge and file online! There are many great reasons why it’s the best way to get your taxes done. You’ll find the right tax software for your needs at Best Buy. And you also have a chance to win software from either TurboTax or Ufile.
Will you wait until the tax deadline is minutes away to file?
What’s your favourite dessert? We all have one: chocolate cake, spumoni ice cream, sherry trifle? Imagine someone offers you your favourite dessert and says you have only until April 30th to get a serving … after that day, no dessert for you. What would you do? I’d try to get my dessert as soon as I could to not take a chance of missing out. So many things could happen between now and then that might prevent me from arriving for my serving on April 29th, or some other date in the future.
Well hear me out. For most of us, taxes must be filed by April 30th. Actually that isn’t 100% accurate. Self-employed workers can file by June 15th, however, if they owe money they still have to pay before May 1st. Also, according to the CRA website:
But for all intents and purposes, get your taxes done by April 30th. You might ask, “what does that have to do with dessert.” Just like you wouldn’t want to miss out on your favourite dessert, you also don’t want to miss out on the benefits of filing on time … early even.
Filing your taxes early reduces stress and can save you money
Imagine the worst case scenario: you file after May 1st and have to pay late fees. That would be bad. You could have used the money you paid in late fees to buy your favourite dessert. No matter how much you like dessert, money to buy anything you want is better! Now imagine the best case scenario. You file your taxes as soon as you can: February 20th is the first day we can file. Say you get your paperwork all sorted out, enter everything you need into the tax software you purchased from Best Buy (or won from this Best Buy Blog contest!) and learn that if you just put a bit into an RRSP you would actually get money back from the government rather than pay more to the government.
That’s smart. Money you put into an RRSP isn’t going anywhere. It still yours. And you get money back from taxes instead of paying to them. Money in your pocket for dessert in your tummy. The feeling you get by doing this at the end of February is akin, I would argue, to getting a free slice of your favourite cake—and eating it too! However, wait until after March 1st and you miss out. That’s the deadline for contributing to an RRSP to reduce your 2022 taxes. You only get maximum benefits by filing early.
Prepare now, file in February, and be stress free for Spring break
I know I make it sound so easy, and you might feel taxes are anything but easy. I can relate. But it is easier if you break it into little steps. We have a detailed article with some tips to help streamline the process. For now, here are some simple steps. Step 1: choose the right software for your needs. Best Buy has many types and brands. Select the one that resonates with your needs, has the number of returns you need for everyone in your family, and will allow you to claim investments or other additional taxable income or deductions for your needs.
Step 2 is to gather the paperwork you need for all of the returns you are filing so you can get it done without scrambling to find this document or that document. Lastly, Step 3 is to enter the information in the tax software, decide if you should put some money into an RRSP before you file. The second last step is the file your taxes.
What is the last step? Breathe! March arrives and you can breathe. April arrives and you can breathe. May arrives and you can breathe. Others may get stressed out by the emerging Tulips and Crocuses signalling the approaching tax deadline, but not you. You will relax and smell the flowers. Maybe with an ice cream cone or piece of cake.
How to enter
Entering this contest is easy and you can enter in two different ways.
- In a comment below, tell us how you filed last year, did you wait until the last possible moment, AND lastly, what favourite dessert will you treat yourself to once your taxes are done.
- For up to two (2) additional entries, create a public post on a social media channel (one entry per channel!) sharing with your friends and followers that you are entering a Best Buy Blog contest for a chance to win software to help you with preparing your taxes; include the hashtag #BestBuyTaxescontest, so we can find your post, and include the picture at the top of this article. Then return here and tell us in a comment below on which channel you posted it and the name of your channel (since many people use pseudonyms) so that we can check and verify your entry. You can use any social media channel (Twitter, Facebook, Instagram, TikTok, LinkedIn, etc.), but the post must be public so we can verify it is there.
What you can win
At the end of this contest we will randomly select six (6) winners. Each winner will either get one of three TurboTax Premier 2022 (PC) with 12 Returns or one of three UFile 2022 (PC) with 4 Returns.
This contest runs from Feb 1st to Feb 19th.
Remember, you can enter in two different ways. Many people don’t discuss tax season due to the stress many of us feel about it. So tell your family and friends that this article is partly about desserts and they can win a useful prize.
Win Tax Software Rules and Regulations
I am happy to announce the winner(s) of the tax software:
Mickey R – Toronto, ON
Paresh P – Thornhill, ON
Maureen B – Saskatoon, SK
Daniel R – Laval, QC
Viq S – Brampton, ON
Julie W – Burlington, ON
Keep reading blog.bestbuy.ca and get great informative articles about a wide range of topics from tech to toys, from smartphones to style. Participate on the blog by asking questions and offering your expertise to the comment sections of articles you read. And enter more contests: you never know when we will get more great products to give away.
This contest is now closed. We will draw the winners soon in accordance with the rules. Return to the blog often to read great articles, learn about the latest technology, and to enter more contests. You never know when we’ll be doing another amazing giveaway!
I had a friend who is an accountant file mine last year, but he has now retired. After taxes if I have anything left probably a bowl of ice cream, or some sushi.
I filed online last year, earlier than usual. I will treat myself to some ice cream when my taxes are done this year.
I usually file tax at late April using Turbotax, and treat myself with a nice cream cake.
My wife use Turbo tax last year and always last minute. A dark chocolate to give myself a treat after that
Comments are closed.