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Personal Taxprep is designed to make you and your team as productive as possible. At the same time,
Personal Taxprep allows you to deliver returns that are accurate, and that optimize your clients’ unique
tax situations. Saving you time and providing you with tools to prepare optimized returns are just two
of the many ways that Personal Taxprep can contribute to a successful and profitable T1 season and
add value to your client relationships.
Automatic T1-ADJ
One of our most popular features for good reason. Automatic T1-ADJ automatically calculates the overall
impact of changes made to a return after filing. This innovative feature takes one of the biggest headaches
away from the tax preparer. Now you don’t have to fear the dreaded forgotten slip.
Diagnostics
Extensive edit checks and diagnostics are built into Personal Taxprep. Alerts are easy to detect, and easy
to respond to. For example:
- On-screen messages alert you immediately to missing information or inconsistent data.
- Diagnostics are displayed in the lower pane so you can consult them as you work.
- You can automatically jump to the source of the problem for easy correction.
- You can toggle between the Diagnostics and Xpress to work even faster.
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... Personal Taxprep is the best package available.
C. Thorkelsson, Edmonton, Alberta
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Optimizations
Personal Taxprep has the most sophisticated T1 and TP1 optimizations available. Plus, Personal Taxprep
completes optimizations with adapted diagnostics and forms to provide you with more information on the impact of the
optimization and the tax options available to your client. The most popular deductions and credits covered include:
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RRSP – Taxprep will automatically reduce the RRSP deduction (and save it for future use)
if there are unused non-refundable tax credits.
- Capital loss carry-forwards.
- Medical expenses.
- Deduction of certain expenses for a commission income employee to avoid the commission-income limit.
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Dividend tax credit between spouses (One of Taxprep’s most valuable features, the software actually analyzes
the impact of transferring dividends between spouses and the taxable rate applicable in each scenario).
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NEW! Family Data Connection
Personal Taxprep calculates returns for the taxpayer, spouse and dependants simultaneously to ensure that
the family’s overall tax situation is optimized.
Examples:
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Taxprep determines which spouse should claim medical expenses and the refundable medical expense
supplement (where applicable) to achieve the greatest tax savings.
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Dependents’ tax returns can be added to the taxpayer and spouse returns in order to automatically transfer
both federal and provincial deductions and credits (e.g., tuition expenses, disability amounts) for an
optimized family scenario.
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Summaries
Personal Taxprep offers more summaries than any other T1 software, including:
- Comparative 2- and 5-year summaries.
- 5-year comparative summaries for each income statement.
- Carry-forward summaries.
- Tax scenario worksheets.
- T1 outlines.
- Accountant’s summaries.
These summaries provide preparers and reviewers with concise overviews of a return.You can keep them on file
and provide them to your clients.
Specialty Returns
Personal Taxprep handles more specialty returns than any other T1 program to help ensure that you can meet
the needs of clients with special or unique tax situations. This includes:
- Complex calculations for multiple jurisdictions, alternative minimum tax and overseas foreign tax credits.
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Complete returns for bankruptcy and trustee situations (including transfer of information from a
pre-bankruptcy return to a post-bankruptcy return), deceased taxpayers, Section 115, Sections 216 & 217
non-resident clients, and many more.
Québec T1/TP1 Version
If you prepare Québec TP1 returns, the T1/TP1 version of Personal Taxprep includes all of the relevant Québec
forms, such as:
- Automatic update of Québec forms from federal forms to reduce data entry.
- Special keys that make it easy to move back and forth between federal and provincial returns.
- Flexible printing, that allows you to print provincial and federal returns separately.
- Full Québec EFILE support.
Work Faster With Links To CCH Tax Research
Questions inevitably arise, particularly when preparing complex returns.You’ll find contextual links that take
you directly to the applicable section in CCH Canadian’s popular Preparing Your Income Tax Returns as well as
other CCH tax research resources (sold separately). All this without ever leaving the return you’re working on!
This integrated approach will make the preparation of tax returns quicker and easier. It’s just one of the
reasons why accountants look to us for solutions based on intelligence.
Automatic T1 Data Conversion
Permanent information and carry-forwards from prior year T1 returns prepared using a T1 program
other than Personal Taxprep are automatically converted. Save time and be confident that your
valuable information is converted quickly, confidentially, and accurately.
Taxprep Xpress
The Taxprep Xpress feature offers you the best of two worlds:
- Data entry based on the prior year return in workchart format; and
- Display and data editing in the forms.
Although it is very easy to search for forms in Taxprep, Xpress allows you to find them with the
list of data entered in the prior year return. A simple click and you are in the right form.
TAXPREP PRINT SERVICE
As a Taxprep Print Service customer, you’ll receive priority support and free use of the Taxprep Transmission
Service for electronic filing. See details...
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