Comments on: Quick Review: GenuTax 2007

By: Florence

Florence — Tue, 15 Mar 2011 18:33:11 +0000

Has anyone had any problems with the latest Genutax program? I’ve used Genutax for several years and have always been pleased. However, this year after I download and install, I am not able to “open” the program. Actually, it opened once, I input info but cannot retreive it. I contated the support system and they tried very hard to help, to no avail. They finally said that it is my computer. I have since downloaded another program and it is working just fine.

By: Jess

Jess — Wed, 26 Jan 2011 23:26:48 +0000

does anyone know if you can save the forms as a pdf? I always save everything to a disc so that I have a hard copy as well as a paper copy. Does it also work for self employment as well?

By: Which Tax Software?

Which Tax Software? — Tue, 11 Mar 2008 15:57:39 +0000

[...] may also want to check out GenuTax and [...]

By: Canadian Capitalist

Canadian Capitalist — Sun, 02 Mar 2008 23:49:37 +0000

LDubz: I calculate capital gains and losses on USD investments after converting to C$ and reporting them as capital gains/losses in Schedule 3.

When I do leverage, I keep it in a separate account, so I just total up the interest payments and report them at the end of the year.

By: LDubz735

LDubz735 — Sat, 01 Mar 2008 06:53:04 +0000

Hi there, this is my first year trying to do my own tax returns and I’ve been reading a lot on the CRA website as well as various cdn financial blogs.

I was testing on GenuTax, but had some general questions I hope someone can help me with or direct me towards a useful resource:

1. capital gains from stocks in on the US market – do you claim that as capital gains (and do your own currency exchange via the bank of canada’s website) or investment income?

2. borrowing money (NOT from a margin) to invest – how does one keep track of how much of an investment consists of your own cash vs the borrowed amount?

Thanks!

By: Fed Right up

Fed Right up — Mon, 18 Feb 2008 23:52:30 +0000

Don’t waste your time or money with Genu Tax. If you already know what you need to fill out to file, find a program that lets you order the forms and schedules and skip this useless interview. If you want to experiment with different scenarios like different RSP contributions, Genu Tax is NOT FOR YOU, unless you enjoy going through the whole interview again and again with each change, keeping track of your own outcomes each time because printing is likely to engrave the return in stone.

By: Canadian Capitalist

Canadian Capitalist — Tue, 05 Feb 2008 22:06:27 +0000

FT: True, but some people prefer the interview method and for them, IMO, GenuTax would be a good choice.

Barry: I really liked GenuTax’s clean interface. And some people in the office have been regular users and love it.

Peter: Glad to hear your positive experience with GenuTax. It’s very nice to see so many quality options for doing our taxes.

By: Peter @ Plan Your Escape

Peter @ Plan Your Escape — Tue, 05 Feb 2008 16:47:07 +0000

My wife and I have been using GenuTax for a few years now and it has worked very well for us. It has been able to handle all the ‘non-standard’ stuff that we needed to do and we haven’t run into anything that it couldn’t handle yet.

The interview method is kind of nice if you don’t like doing taxes. You just answer all the questions and at the end you’ve got a tax return! I used to do my taxes by hand so the GenuTax is easy peasy in comparison.

Also, the free updates have been great and we’ve had no troubles upgrading each year (for free!).

We’re both pleased with the product.

By: barry

barry — Tue, 05 Feb 2008 04:37:14 +0000

Thanks for the review.

It is nice to see some attention paid to the “lesser” software. I have always thought these products were equal and this suggests just that.

By: Stacie’s World » Blog Archive » Taxing Decision

Stacie’s World » Blog Archive » Taxing Decision — Tue, 05 Feb 2008 03:15:12 +0000

[...] just read the review of GenuTax on Canadian Capitalist’s site and he favours StudioTax. I did see on the GenuTax site that they at least have a [...]