As much as I have recommend TurboTax for preparing taxes, I think it’s important to know about other options that might serve you better. There is another well known program that has been gaining momentum. UFile is a serious contender in the Canadian tax preparation market, and it’s one that I recommend as the #1 tax prep software.
I like that it automatically gets you the tax credits you should have coming to you, without the need to fill out a lot of extra forms or answer a lot of questions. UFile is updated regularly so that it includes the most up to date information from the CRA, so you don’t have to worry about missing out on what you’re entitled to.
What to Expect from UFile
The interview process in UFile works well, though not quite as comfortable to use as the TurboTax interviewer. UFile also includes their MaxBack Refund Analyzer, which looks at the whole family to best suggest deductions, credits, and pension splitting. However, the process works well enough, and you can save information for later, if you need to.
It’s also worth noting that UFile is certified for NETFILE, so you can submit your tax return electronically, increasing the speed at which you receive your refund.
UFile’s biggest strength is in their pricing. While there are free tax programs like StudioTax, you may be willing to pay for a more polished and user friendly product. UFile is valued only $19.99 for four tax returns, half the price of TurboTax Standard. UFile’s cost effectiveness becomes even more apparent when compared to higher version’s of TurboTax, many of which add features that are in the one version of UFile.
The fair pricing for UFile is based on the online version, which is only $15.95 for individuals. You can add a spouse for only $10, which makes it relatively inexpensive for you to file your return online.
There is also the UFile Free offer, which is free if you have a simple return or are a new filer, a student, or have an income of less than $20,000. If you add dependents that fit these requirements, you can add them for free as well. This is a nice touch, since some tax preparation software programs will nickel and dime you for every little form or dependent. If you have a simple tax return, consider using this program from UFile to save money on your filing costs. You get the benefit of help preparing your tax return without having to pay anything. This is useful for new filers as well, since they won’t have to pay. It’s a good way to test out the program and decide if you like it.
UFile is my #1 recommended Canadian tax prep software. If you have especially complicated taxes, you might want to consider hiring a professional. However, many consumers find that UFile is a great choice. Even though I think TurboTax is a solid program, UFile is my favorite Canadian tax prep software, and I highly recommend it.