T1 Planner (Pt 2)

Product Suggestions
1

Previously suggested:

  1. A large memo field for planning notes.

  2. Planning Manager similar to Scenario manager.

  3. The ability to clone existing plans.

  4. The ability to ‘couple’ spouse’s plans.

Additional suggestions:

  1. The ability to set tax year for each plan. Its currently fixed at ‘next’ year but we often build plans for several years, or for a specific period in the future (such as after age 71, when RRSP become RRIF). The client age should change based on the planning year, with the related impacts on non-refundable tax credits, etc.

  2. Remove the default OAS figure. It should pick-up the amount from the tax return when we “Insert Values”. Many clients defer their OAS, which means they have none before age 70, and amounts greater than the ‘maximum’ after age 70.

  3. An expending data entry table (similar to MED, DON, etc) at the top of the planner would make compiling a plan from detailed records easier. The table would consist of four columns: TaxLine, Source, Amount, TaxWH.

TaxLine indicates to which line of the exitsing planner the amount is added; once its used in the table, the field in the planner is calculated. Lines not used in this table continue to accept direct entries. Source is a description for our use…employer, pension, etc. Amount is the actual amount of income. TaxWH is the amount of tax witheld from that item and all of these amounts add make up the ‘tax deducted at source’ field on the planner.

Currently, I need to add a tape or memo to each line with multiple sources, and the tax witheld (which is often what we’re trying to calculate) is problematic as its not readily connected to the related income.

NB. Please don’t tell me that the Carryforward & Plan option is easier…its not, especially when we’re trying to build a concise projection, or for transition years that look nothing like last year (eg, retirement).

  1. The ability to carry-forward a plan into the next year’s return (including its related tapes and memos) via a check-box at the top of the Planner. We often build multi-year plans, and it would be helpful to bring the subsequent year’s into the new year’s file to be refined or varied. The short description field can have “- CARRIED FORWARD” appended to it.