If I have to pay in quarterly tax instalments (I'm self-employed), does that mean I file taxes on TurboTax 4 times in the year?
It seems expensive to have to file it four separate times, since the self-employed package (even if filed by myself) is a higher-priced one. I wonder if there's a way to cut costs on filing the 4 tax instalments. Thanks!
If I have to pay in quarterly tax instalments (I'm self-employed), does that mean I file taxes on TurboTax 4 times in the year?
No. If you are paying income tax instalments then you only have to prepare one tax return per year, and you would enter the amount you paid in instalments.
If you are remitting GST/HST payments quarterly, then yes, you will have to file a GST/HST return four times a year. But this is done through the CRA website. You can't do it using TurboTax or QuickBooks.
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