While most consider Canada Buy South primarily as a resource to learn about buying US Real Estate, there are often many questions about what filing taxes looks like both in Canada and in the United States when income properties are involved.
For quite some time, there have been tax software programs that assist Canadians and Americans to file their income tax returns. I am definitely not an accountant or a professional income tax preparer, but I will do my best to share my experiences filing income tax on both sides of the border.
For about a decade, I have been using income tax software to file my Canadian T1 General Income Tax and all accompanying forms. For the last five years or so, I have been usingUFile. I had read some reviews on the web that gave some good reviews and indicated an affordable price point, so I jumped on-board. Due to familiarity, I have been going back to UFile without really spending the time and energy re-assessing all of the new products and features currently out there.
This year, I will be using UFile again to handle my Canadian Income Tax filings for my wife and I and will likely continue to file my US Income Tax return manually (using paper) unless I can find software that will do the trick.