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What do you use to keep track of taxes?

What do you use to keep track of taxes?

Old Apr 24th 2013, 4:40 pm
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Lightbulb What do you use to keep track of taxes?

I used a spreadsheet to keep track of what I'd bought and paid for but when it came to filling in the tax questionnaires I realised it could have done with some improvements - for example, some things I'd lumped together were better separated, and others would have been better grouped. So I had mini calculations going on in various places of the spreadsheet to get final figures for the tax questionnaire.

Anyway, what do you use to keep track of expenditure and income?
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Old Apr 24th 2013, 5:05 pm
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Default Re: What do you use to keep track of taxes?

Originally Posted by GeoffM View Post
I used a spreadsheet to keep track of what I'd bought and paid for but when it came to filling in the tax questionnaires I realised it could have done with some improvements - for example, some things I'd lumped together were better separated, and others would have been better grouped. So I had mini calculations going on in various places of the spreadsheet to get final figures for the tax questionnaire.

Anyway, what do you use to keep track of expenditure and income?
I also use an Excel spreadsheet which I created myself, with input from our CPA on how to best group the items so she can read it easily at the end of the year.

Rene
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Old Apr 24th 2013, 5:25 pm
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Default Re: What do you use to keep track of taxes?

Mrs P

(She has an Excel spreadsheet that she has refined over the years to create totals to be transferred to our CPAs system.)
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Old Apr 24th 2013, 5:31 pm
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Default Re: What do you use to keep track of taxes?

The W-2s and 1099s that are issued to me.

Regards, JEff


Originally Posted by GeoffM View Post
Anyway, what do you use to keep track of expenditure and income?
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Old Apr 24th 2013, 6:24 pm
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Default Re: What do you use to keep track of taxes?

Income goes into a spread sheet, but I toss all the back-up receipts into a file folder, then sort them in January!
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Old Apr 24th 2013, 6:43 pm
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Default Re: What do you use to keep track of taxes?

Originally Posted by jeffreyhy View Post
The W-2s and 1099s that are issued to me.
Would be nice if I only used the figures in those for my taxes but the majority of my income comes from sources that don't issue W-2s or 1099s (ie foreign).

Looks like I was on the right track with a spreadsheet then; I just need to refine it now.

Thanks.
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Old Apr 24th 2013, 9:22 pm
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Default Re: What do you use to keep track of taxes?

Working in IT, I find pen and paper work best. Then I scan everything in. Got some stuff in Excel. In fairness, the CRA not using fillable forms until recently is part of the reason.

I discovered awhile ago though that tax software is just totally overrated, I find I can do it much more quickly on paper.
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Old Apr 24th 2013, 10:25 pm
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Default Re: What do you use to keep track of taxes?

Google docs....its simple but it works.
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