About StudioTax: A Free Canadian Personal Income Tax Preparation Software
Studio tax software is so much easier to use than UFile. People can get tax returns done for free with StudioTax. A group of software developers from Ottawa developed StudioTax.
StudioTax is a small group of software development professionals working in various areas of the high tech industry in the Ottawa area. StudioTax applies an innovative idea to develop and distribute new personal income tax preparation software and after the 5 years of development effort with the help of diverse technical, financial, and tax expertise, Studio tax software is made. StudioTax is made on Microsoft .Net framework. If the .Net 2.0 SP2 is not installed already on your computer, StudioTax install will attempt to download and install it. With StudioTax, you really need to know that in which form you want to enter and what you are doing. You will be allowed to enter more in net capital losses of prior years in Line 253 of the T1 by StudioTax. In the year 2008, Line 253 should be equal to or less than taxable gains. You can download and install the product for free and all the developers, who are behind the product ask is a donation.
Free and taxes words usually do not go together. However, for year 2010, if you are using tax software to do your tax return then by downloading StudioTax you will receive your taxes done for free. BHOK IT Consulting is the owner of StudioTax. In Canada, StudioTax software may be the best free tax software. Canadians are quickly applying StudioTax as their tax preparation software of choice with over 100,000 downloads in 2007 and 170,000 downloads in 2008. People thought that when they can receive tax returns done for free with StudioTax then why they pay $30 bucks or more for a few tax returns at costly competitors such as QuickTax and UFile.
StudioTax 2009 Details:
- NETFILE Certified
- Free Download, donations accepted
- Bilingual: French, English
- Free for personal use, regardless of income
- 20 Returns Maximum (a CRA required limit)
StudioTax software has the previous year’s versions, such as 2004, 2005, 2006, 2007, 2008, and 2009. There are no details available about the launch or release date of Studio Tax Canada 2010 version.
Follow these steps to download and install StudioTax 2009:
- Download StudioTaxInstall09.zip, un-zip it and save StudioTaxInstall.exe to a temporary folder. Or you can just download the exe file StudioTaxInstall09.exe and save it to a temporary folder.
- Try to run the install by double-clicking on the StudioTaxInstall.exe file that you downloaded and saved in step 1. Depending on your security settings, you may get some warnings about unknown publisher etc. Just click Run and/or Allow to resume installing StudioTax.
- If the install fails because .Net framework is not installed, then download and install Microsoft .Net framework. Click on Microsoft .Net Framework 2.0 SP2 to go to Microsoft download site.
- Once StudioTax is installed, you can create your income tax return and print it. Refer to the help tab for quick overview on how to go about creating your first return.
- Make sure to check for updates on a regular basis and before you file your return in order to download any updates we make to the software.
- If you experience difficulties running Studiotax, then download and install Microsoft .Net Framework 2.0 SP2.
Installing StudioTax is easy. There is no need to register for the site and you do not bother in getting the download. It means that there is no registration requirement, no software key, no questions asked, and no activation code. For those, who are worried about privacy a good choice is to use tax preparation software to complete your return.
Your personal information is secure because StudioTax installs directly onto your computer’s hard drive and saves your tax return locally. The Microsoft .NET Framework Version 2.0 SP2 is required by StudioTax to run. In case StudioTax does not detect this needed software on your computer, the installation wizard provides a link.
The StudioTax setup wizard is simple. Just follow the step-by-step instructions to get the job done.
StudioTax 2009 has changed little from StudioTax 2007.
The dashboard gives you access to a number of tasks, including:
- Open an existing return
- Create a new return
- Import your StudioTax 2008 Return
- View a list of recent returns
- Access to Online Tutorials
- Check for updates
- Switch languages
- Get help
- Moreover, a toolbar gives you quick access to the wizard, tax validation tools, and tax forms.
Creating a New Return in StudioTax
Click on Create a new return to get started to launch the StudioTax Wizard. You do not expect this free software to hold your hand through the process because StudioTax Wizard is simple. Moreover, expect to see a few ads in the product because StudioTax is free tax software. Forget importing your user data from other tax software, if you are using StudioTax first time. .stx file format of StudioTax is supported by StudioTax. Therefore, you will have to enter all your personal information such as name, residence, SIN number, etc. StudioTax software is a minor quibble, but it would be nice, you do not have to re-enter all this data.
The page, where you choose your tax forms would be nice to have a tip or two explaining each form. Since the StudioTax wizard does not ask interview style questions to gauge your needs, you will have to know beforehand which tax forms fit your needs. StudioTax may not be for you if you need your tax software to pick the tax forms for you. You will need to fork over the big bucks for tax software giants QuickTax or UFile for this value-added service.
Doing Your Return
StudioTax gives you the option to switch views, if you prefer entering your T3s, T4s, and T5s using CRA forms.
With StudioTax Entering your RRSP contributions, medical expenses, and dealing with dependants is pretty straightforward as well. People will have no issues claiming tax breaks such as Home Renovation Tax Credit (HRTC), Children’s Fitness Tax Credit, First-Time Home Buyers’ Tax Credit, and the Public Transit Tax Credit.
Students can enter breaks like their Textbook Amount, Education Amount, student loan interest, Tuition Fees, and Moving Expenses and good luck is just a form away with StudioTax.
Validate Your Return
StudioTax brings you to a review screen where all tax forms are accessible and can easily be reviewed when the wizard is done prompting you to enter taxing data. You can use the Validate feature at StudioTax to check over your return for missed forms or inconsistent details.
The Tax Explorer feature, where at a glace you will see a refund or the dreaded balance owing, will be loved by most people.
Pension Income Splitting with Tax Optimizer
For those couples, who are looking to maximize pension income splitting, charitable donations, and medical expenses, the StudioTax Optimizer feature is handy. Link spousal returns before completing the process. The Optimizer feature only works when spousal returns are linked at the start of the wizard.