File Taxes Online For Free - Tax Tips For Translators
Whether it's in U.S. or Canada, you can file taxes online for free.
Filing your taxes in one of the most important tasks for your business. You’ll find some basic information here about free income tax filing in these two countries.
Although you don’t always necessarily love taxes, you have to pay your dues. As Albert Einstein put it – The hardest thing in the world to understand is the income tax. But we have to deal with it if you don’t want to get in trouble.
So I’ll make all the information as easy and straightforward as possible. Still if you have a specific question regarding your personal situation, I would recommend that you talk to an accountant immediately. Some money is well spent – such as getting professional help from an expert.
File Taxes online for Free in Canada
In Canada anyone can file taxes online using NETFILE
According to Revenue Canada, ie the Canada Revenue Agency (CRA) online tax returns are safer, faster and more accurate. There are, however, some restrictions such as:
1- you have to a Canadian resident
2- you can only file the taxes for the current year
3- you can’t be in the situation of bankruptcy for the current tax year
4- You can only use the Netfile program for a certain period of time during a year
5- Tax preparation service providers must use EFILE to file tax returns on behalf of their clients
See the whole list of restrictions here.
To file taxes online for free, you need to use CRA certified software. Each year CRA will provide a list of approved software programs for that purpose. So before you use any program make sure you check out the status at the CRA official website and find the application that has been certified by CRA.
The NetFile service itself is free, but you may have to pay a nominal fee to use the software. Some of these programs may be free for low income earners that make under $20000 per year. To find details check the webpage here: CRA certified software
File Taxes Online for Free in U.S.
In U.S. everyone is eligible to file taxes online for free with IRS Freefile. IRS FreeFile
For people who make under a certain level of income ($58,000 for the year of 2011), they can use brand-name software to prepare their taxes. There are restrictions such as age, state and tax credit status etc. that may affect your eligibility to use these software programs. Plus you may have to pay to file your state tax return with these software programs.
If you make more than that level of annual gross income (AGI)- that is above $58,000 for the year of 2011, you can use Free File Fillable Forms FreeFile Fillable Form. It’s free too. But you can’t file your state tax return using this system.
There are other ways to file taxes online for free such as:
But remember, these free options are for people with taxes that’s relatively simple and straightforward to prepare. If your tax situation is a more complicated one, you may need an upgraded service or product and therefore you’ll have to pay a nominal fee.
As a freelance translator, you may find it helpful if you can save a buck or two here and there. But as a business owner, you have to understand that free doesn’t always mean best. Depending on your own situation, you may find that hiring a professional tax serve provider is one of the best investments for your business and even personal growth.
It not only saves you time, but more importantly frees you from unnecessary stress. You may use the free time to concentrate on building your business and creating more values to your services. That in the long run will help you bring in more money.
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