Taxes

Everyone must do their taxes. Is it part of you duty of citizen? I think it is, to help pay for CPP and EI and support all the social things the government helps provides. Lets not get into the debate of how well or what they provide, I'm sure that is another blog on its own. We all benefit from the money you make from paying taxes. So why would I suddenly write about doing taxes? It seems to be there is big money to be made from doing people's taxes or selling tax return software. Most people I know don't do their own taxes. I do my own taxes electronically and after looking at the process I can basically figure out how to do it on paper, not that I would go back to paper format. So why do people not do their own taxes is my biggest question.

In High School, do they teach you and the reason why you should be doing and paying taxes? I didn't take business in high school so I do not know the answer to that. But I know someone who goes out and tries to educate younger people about learning about insurance, and how there is a profession and the use of it. Do they do this about tax? Some times I wonder what they teach in high school. Perhaps I've been out of high school for so long that the circulum has changed so much they do now. For sure I didn't have to make a website, or have to know flash or photoshop.

With computers, the tax software has made filing your taxes quite easy with many senarios. Also the CRA website is very helpful with examples and clear explanation. Basically what I know about doing taxes and what I can claim is from my exposure to these 2 mediums. I can pretty much figure out why they have an interview process. Just like how if you were to goto H&R block. If you don't have complicated investments or business, it should be a simple enough for anyone to do that has graduated from High School.

Also, wouldn't it be beneifical for someone to know about taxes so they can either take advantage of certain things they can claim, or how to save themselves some money by better tax planning. The only down thing is that, if you file something wrong, you will be peanlized and you will owe back government some money and the interest. Or if its the other way, you will receive less money than what you are suppose to get. People should give try to do it some where online, and if they usually let someone else do their taxes, they can see if they can save a buck or so, then also gaining something from educating themselves.

Also, if you knew more about doing your taxes you can cheat the system. Isn't that what sometimes an accountant who knows the rules can play around with your numbers and add it as an expense here and there. So I mean that can also be good, or how much RRSP you should buy to maximize your return. I am in no way a tax expert, everything I know about personal taxes I can read about on the CRA website and they have a good alphabetical index.

I just got fed up with someone telling me that they let someone else do their taxes, when its just their income from their job, and buy some rrsp and tutition. Its not as hard as you think it is. And electronic software has made it so much easier. I even thought maybe there is a generation gap for people who actually do their own taxes, but I don't think that is the case. People's parents reminds their kids when they do it, and take away this responsibility or the knowledge. Oh well, I don't think this trend is going to change unless something is implemented earlier in people's lives and if you hold their hands to show them how easy it is, that might trigger something.

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