Tax Basics

Tax Tip: Deducting Income Tax Preparation Fees and Software Expenses

If you’re looking for some extra tax relief, you may be wondering if the cost of preparing your tax return is deductible. For most Canadian taxpayers, the answer unfortunately is no.

Accounting fees and the cost of tax prep software are only tax-deductible in a few situations:

If your tax return is re-assessed and you consult a professional accountant for advice, those fees may be deductible in certain cases.

Visit the Canada Revenue Agency’s Line 23200 – Legal Fees web page for details.