Our firm is currently using Profile for T1s, T2s, T3s, Tax slips and T3010s, and we have been using Profile for 5+ years, which has been fine, but we are wondering if there are any better options. I have been researching Taxcycle and have heard a few other accounts say that Taxcycle is significantly better. We are also open to other options as well.
Has anyone switched to Taxcycle from Profile, and if so, what were the pros and cons of switching to the new software? I know switching software can significantly impact efficiencies in the first year or two. I have also heard that it’s cheaper as well; however, I compared the price to Profile and did not see any significant difference.
I have no experience of Profile but cannot imagine their support could approach Taxcycle’s. Plus, for me, Taxcycle support is only one time zone different.
I have a very small practice but moved to TaxCycle last year (2023 tax season) after many years using ProFile. I think the software is better but when the crunch of tax season hit, I was overwhelmed with navigating the new software. I ended up going back to ProFile despite the additional cost.
I used Profile T1 from 2000 to 2019, switching to TaxCycle for 2020’s tax year.
Huge improvement over Profile, and with a lot more bells and whistles.
Yes, there is a slight learning curve but many of the shortcuts are the same.
The biggest change for me was rearranging the print layout for the forms being printed out. I preferred the Profile layout from the base TaxCycle layout. And there is a slight learning curve to learn how to modify templates, however TaxCycle has some good YouTube training videos to help with this process.
we used profile from its inception until Cameron came out with Taxcycle and it is terrific. There were on a couple of things I liked about Profile that we don’t have with Taxcycle but on the whole it has been great. Adding in Doxcycle and you have the complete package. Cost was about the same and the support has been top notch.
Never used profile, as I have avidly used Cantax and Taxprep for my entire career up until this year when I switched to TaxCycle and have never looked back. Far superior program top to bottom.
Like @BertMulderCGA , I switched from Profile in 2012. You could see the writing on the wall for Profile. More errors, less support, and higher prices.
TaxCycle support has always been great. Cameron also took early users’ suggestions to make the software better.
Although I tried to incorporate DoxCycle in my system, it hasn’t worked out. The TaxCycle program has worked great since 2012. I still learn new ways to add templates each year.
My suggestion is to switch early, do some returns, get your print options set up, and adapt each year. There are lots of videos to help. This community is also a valuable source of help.
I used Cantax from 1985 until I switched in 2018 to TaxCycle. I hate change and I hate learning curves. My only complaint is that I did not change sooner. TaxCycle has the same format for T1, T2. You set up your letterhead and invoice letterhead once and carry it to years ahead or behind. Customer support is wonderful. Webinars are free. Updates are often issued several times a year. One really great thing in T1 is you can get a new client in 2024 and need to file the past 5 years. You enter the personal info in 2024 and then carry it back each year to the year you need, prepare that year and then refresh it forward and do the next and so on. No reentering client info each year. Get it now and practice until you are familiar before tax season. But if you get stuck, help is readily avaialble.
Thank you for providing your responses! I am always curious about new systems and do not like to base my decisions solely on the salesperson. My understanding is that it sounds like a better system, and the main downside is the learning curve from switching tax software. Has anyone looked at switching from Taxcylce?
I am also curious about everyone’s current tech stack for operating your firms.
I first bought TaxCycle in 2017 for 2016 returns. Used CanTax for the prior 20-odd years. Even though they both were designed by the same guy, CanTax was such a pain. We used T1, T2, & FormMaster. Each module was a separate install, and a separate install for each update and each year. I worked in an office with 6 computers to update each time. Hugely time-consuming. After switching to TaxCycle, I bought the 10-year CanTax archives to get at older files. Had to use it yesterday to get at a 2013 T1. Installedm accessed file, and tried printing to Adobe PDF. No go. Had to print to the CanTax pdf printer. The print command lists a ton of useless schedules. Ended up editing pages out of a 78 page file.
On the other hand, TaxPrep is one install for all modules for all years, updates are so easy, I can print to any of my installed printers, and I have access to so many more forms & modules than I had with CanTax. Only downside is the price has increased 56% since 2017. I certainly haven’t been able to increase my fees that much. It is the single highest bill I have. More than my insurance, CPA dues, tri-annual practice inspection, etc. But, I have no choice. I’ve used TaxPrep before and it’s a $6-$7,000 annual fee. CanTax & Profile are in the same ballpark as TaxCycle, and I will never switch from TaxCycle. Ever.
I am a one person office and I switched from Profile in 2018 and never looked back.
A bit of a learning curve but the availability of help from Taxcycle was and continues to be outstanding.
Taxcycle is simply a way better product with way better support and will definitely increase your efficiency and effectiveness.
I will never ever consider switching from Taxcycle.
I just renewed my CRA efile access. Oh, my! I’m glad I’m not still using CanTax. The password has to be changed in every module, for every year you expect to have to use. In TaxCycle, I change the password ONCE for all modules, for all years. Oh, that was almost fun!
Pardon @jhd.hemeon but you were saying TaxPrep in your comments. Did you mean TaxPrep or TaxCycle?
The reason I ask is that I think that TaxPrep still uses a different install for each year and type of returns. (Though it has been a while for me. It could have changed.
Yes, halfway down in my 2nd previous message, I typed “prep” rather than “cycle”. I know some people have both Taxprep and TaxCycle and use Taxprep for complex returns. I don’t know of any return that TaxCycle can’t handle.
I switched from Profile to Tax Cycle 5 years ago. The software is easy to use and has many useful tools to make your tax preparation go as smoothly as possible. The support is excellent and most times they answer right away. I would never return to Profile.