Discussions

I’m just wondering about the turnaround time on actually getting your refund when you use the turbo tax thing with CRA? Is it worth it to do cashback at the tax preparer places??

Filed e file using turbo tax after supper April 12 and direct deposit into account on Apr 20

week at best, unless they audit you.. or they find you or your tax prep person made a mistake in your taxes.  
 
IMO stay away from cashback. Wait until the money is in your account.

That is fast. Way different than it used to be. Not really worth the cost to do cash back these days unless you are desperate for money.

Turbo tax and got ours back in a week. So was super fast. We have been using turbo tax for several years. It's fast and easy. And costs way less then an accountant or h and r block. And it also gets us the most money back.

ece2 said "That is fast. Way different than it used to be. Not really worth the cost to do cash back these days unless you are desperate for money. "

We've been using Turbo Tax for years, I can go back as far as 2010 and we always get our return in a week to 2 at the most.  
 
I don't know who would use those instant cash back places. You are right you'd have to be pretty desperate for cash to give up 20% or whatever they charge.

I use the online tax forms from simpletax. They are free (they ask you for a donation at the end...up to you) and your tax return is uploaded to the CRA. They will combine the tax forms of husband/wife to figure out the best return for the pair.  
 
Re the instant cashback: I remember a news program a few years ago talking to a tax consultant. They asked about the immediate cash refund service, and her response, which I'll always remember was: "If you really need your tax refund right away, and are ready to take that kind of loss, perhaps it's time to assess where you are going in life". Back then it was a month or two to get a return. Now it is a week or two. Why anyone would even give up even 5% to have their money a week early is beyond me.

I've gone to an agent for the last lot of years. Luckily, I get audited every year.  
 
If it wasn't for that fact, I woukd be missing out in alot of money. Since the audits regularly doubke the amount I get back.  
 
And really, the cost of cash back used to be included when it's beyond a certain amount. But that's not a thing anymore.