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"S4" worksheet and other reoccuring requests

#1

I would still like to have a “S4” worksheet that allows us to easily split the carrying charges between spouses so I do not need to key them in twice.

I also would like to have an extra cell on the T3 slips screen similar to the tips on the T4 for investment fees to make entry quicker

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#2

As I was entering some late-received T5013 slips for a few clients I thought it would be nice to be able to “collapse” the T5013 slips on the screen so that only the boxes that are often used show. I think the only one’s I’ve seen this year are from Brookfield and they all have the same box numbers. However, I have to jump all over the place entering the numbers.

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#3

I like the idea of just showing last years used boxes if you like to simplify the keying of the slip. I would also like the ability to type in the box number on the T5013 so you can jump to the box to enter it when it is a new slip

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#4

I would also like the AFR screen to show the individual slip amounts (T3 and T5008) in additoion to the aggregate total. I have noticed this year the some slips post already and others not but it is difficult to determine if a slip should be in there since you cannot see thedetails of the individual slip once you have aggregated it. It results in me remapping the slip to a temp slip to see the baalnace and then mapping it back.

I think the columns should be

Description, box, individual slip import (if applicable) , aggregate import , 2018, and 2017

I also think it would be helpful if the slip number from the slip summary was integrated into the afr for T3 and T5008 slips as well for instance, if I have three T5008’s from CIBC, they are all CIBC descriptions, currently I add a number in front of them to make them 1CIBC, 2CIBC, and 3CIBC so when I am mapping them I can click the mouse in the drop down box, hit 1 ,2 or 3 on the keyboard then click the mouse again and the slip is linked to the proper slip. if you used the slip numbers from the slip summary I would not need to rename them. I hope this makes sense.

There should be a check box on the S14 regarding the climate action rebate to easily tell the program not to claim it. This would be helpful when you are only doing the return for one spouse and are not sure if the other spouse has claimed it already or if they are planning on claiming it.

Step 2 question for box 6014 on the S14 should be included on the info screen under the first two questions. I should not need to jump to a second screen to answer the question.

I would like to hit f4 and type political and have the program jump to the political donation input section, maybe F4 dues as well

When I drag a pdf onto doxcycle, give me a window (option) to tell you what it is so I do not need to rename it

AFR should be able to compare RIF, T5 slips by the amounts as well as the name to make matching for efficient

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#5

I would like worksheets for Foreign Pensions to make it faster to enter from year to year.

-Type of Foreign - Government, Private from Firm, Private by Self Investment

  • Source currency

  • Canadian Conversion type - per Bank of Canada - and/or - per actual bank statement

  • Foreign tax withholding

  • Checklist 1 - that we have obtained Tax Residency Certificate from Canada

  • Checklist 2 - that we have the foreign pension advice notice (at start)

  • Checklist 3 - that we have the foreign pension income slip

  • Notes 1 - Tax Treaty with Canada - URL or note to reference

  • Notes 2 - Foreign country income taxation - URL and/or note to reference

  • Notes 3 - Additional foreign country document required or submitted

  • Notes 4 - Foreign tax credit - what and how applied in Canada - compare amount paid to amount credit

  • Notes 5 - Foreign tax withheld at source - if in error - note to request reimbursement and/or to opt out in future.

#6

I would like the following additions to the T1 Workflow:-

Within the Engagement + Planning

  • Extensive notes area re additional elections, letters, applications, certificates - ie - Principle Residence Election, Certificate of Tax Residency, Disability Tax Credit for Self and/or others, Change of Marital Status, Change of Residency Status, Immigrant, Emigrant, T1135 re foreign assets > $100K, etc.

  • Worksheet to list all schedules and forms to complete as part of the client intake form. There are great samples of very detailed ones in the Wolters Kluwer, Preparing Your Tax Returns Guides - Personal, Corporate, Trust. These could be used as a rough outline and simplified down to just a Yes/No checklist for the T1 Schedules and Additional Forms to be completed.

After Billing - Current Calendar Year

  • Checklist and/or notes for items from planning or within preparation which require follow-up or addition work. IE new DTC, T1Adj prior years, T1A Loss Carryback, Change of Marital Status, etc.

After Billing - Planning for Subsequent Tax Year

  • Checklist and/or notes for items from planning or within preparation which require follow-up or addition work for the subsequent tax year. IE new DTC, T1Adj prior years, T1A Loss Carryback, Change of Marital Status, etc.

Family Overview

Would nice to have a way to have a family overview of key points. Often these relate to spouse, elderly parents, dependent children, etc. IE - move to care home. Live in care aide, Live-out private care aide, RDSP, student tuition in foreign country, with scholarship foreign income, with fellowship income etc

It would be great to have this trigger custom fields from which we could create custom planning and follow-up letters re advice, outcome, and required source docs.

In summary

My practice is full of complex and oddball situations which require a lot of research, planning, and follow-up. Tax rules and forms keep changing. Right now I park all these nuanced notes in MS OneNote and soon in my Accounting Practice Management application suite at a high level. I am also templating all my emails and highly detailed workflow in 17Hats. It would be helpful to have some place to park these at a high level within TaxCycle.

Whether one’s tax practice is relatively simple or highly complex the tax rules, regulations, and individual + family lives are becoming ever more complex and constantly changing. This requires a lot more time and work in Tax Prep with a push back from clients re fees. The solution for client retention and fees acceptability is better, smoother, and more comprehensive advisory work. I am not suggesting the TaxCycle replace a full Accounting Practice Management application suite Rather, I am suggesting some worksheets, custom fields, workflow additions, and notes additions. For example expansion of the planning sheet for current year changes and multi-year changes.

I love TaxCycle and the great feature/ functional development over the past few years. These are just some thoughts for nice to have features and functions to develop over the next few years. I love that I can make a suggestion and at least have it considered in the development planning cycle.

Thank you for all the great tech support.

May you all have great R + R as the next few days and weeks.

DDF

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#7

I have greatly reduced the print sets that I give to clients to letters, T183, T1 Sum, Family, Condensed, plus slips and key schedules used. This is great for clients.

For my tax practice copy, I would like to save an all forms used version to help with the year over year comparisons. This would be the old paper version with worksheets included. I understand that this print set is no longer being updated. Is this correct? I would like this print set to be autogenerated as a Tabbed PDF for Tax Practice archival and tax planning purposes.

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#8

I have a print set that is basically “all forms”, and I print it to the DoxCycle file during printing. Navigating it within DoxCycle is as easy/easier than in a tabbed pdf, IMO. YMMV of course!