Are the cost of Turbo tax and any review fees tax deductible?

As per TurboTax Canada, If you're searching for a way to save money on your taxes, you might be wondering if the cost of filing your return is deductible. Unfortunately, the answer is No for the majority of Canadian taxpayers.

 

Accounting fees and Tax preparation software costs are only tax-deductible in a few circumstances:

1. Accounting and tax preparation software charges are considered qualifying business/rental deductions if you're self-employed or have rental income.
2. Accounting fees and the cost of tax preparation software are allowable deductions for commission workers. Form T2200, Declaration of Conditions of Employment, should be completed and signed by your employer, just like other employment expenses.

To learn more details about Line 23200 – Other deductions: Legal fees, please click on the Canada Revenue Agency (CRA) website. 

 

If you require further assistance please contact our phone support team or contact us directly on Facebook or Twitter.

 

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