About Taxprep

Taxprep is a cloud-based tax preparation software that helps companies with diagnostics, data entry, audit reviews, quality assurance and more. The system allows users to conduct in-depth analyses including trendlines, rolling averages and Pareto charts, as well as cross-tabulate data by multiple dimensions. With built-in scheduling capabilities for managers and users, it also helps coordinate schedules of activities without the need for multiple calendars.
Taxprep Software - Income tax return statement
Taxprep Software - Remuneration statement
Taxprep Software - Income tax return statement - thumbnail
Taxprep Software - Remuneration statement - thumbnail

Taxprep pricing

Taxprep does not have a free version but does offer a free trial.

Starting Price:
Not provided by vendor
Free Version:
No
Free trial:
Yes

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Taxprep Reviews

Feature rating

Value for Money
3.8
Functionality
4.4
Ease of Use
4.4
Customer Support
4.2
5 reviews of 213 View all reviews
Verified Reviewer
  • Industry: Accounting
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
0
Features
5
Ease of Use
4
Customer Support
0

5
Reviewed on 3/7/2019

The best of the best for tax preperation

Pros

This is the ultimate in tax preparation. Has best interface, best feature set and the most trusted calculations and up to date information built in. Has mad strides in integration between their other products which makes it even better. Has nice on board pricing for new users.

Cons

The cost can get very high especially when you get the full package.

Daniel
  • Industry: Accounting
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
2
Features
3
Ease of Use
3
Customer Support
1

4
Reviewed on 17/1/2020

TaxPrep Review

Mixed feels about the software, as the installation and updating process is terrible, and getting someone on the phone for tech support takes way too long, and they don't always have the answers. So you can spend an hour trying to reach someone, only to find they don't yet have a solution for the issue, or they need time to fix it. But when the software is working properly it does allow for efficient production.

Pros

Teh diagnostics are generally pretty helpful. The layout of schedules is easy to follow.

Cons

Too many patches and updates required each year.
Technical support keeps you on hold for a very long time every time you call (over 45 minutes on hold).
Every time there is an update or new version released, we need to download everything and reinstall, where as other software providers make the process much more easy, and simply push the updates through automatically.

Ed
  • Industry: Accounting
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
3
Features
3
Ease of Use
4
Customer Support
4

3
Reviewed on 9/1/2020

Review of T2 programs

Pros

I have been using Taxprep for over 20 years. I am very familiar with the program. The program is relatively easy to use. I like the fact that the return on the screen is exactly the same as what is printed out. The diagnostics function is very useful.

Cons

I have noticed a change in version 2 of the T2 2019 program which is not at all useful. When you first open the program you used to be able to see certain information about each client without going into the actual file (i.e. the status, the year end, whether the return had been e-filed etc.). Now you have to actually open the particular client file to see that information. I don't know if this an option that has to be selected but I have been unable to find the answer. Extremely annoying. Also, the program has become quite expensive, especially for a sole practitioner.

Alexei
  • Industry: Accounting
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
2
Features
4
Ease of Use
4
Customer Support
0

4
Reviewed on 6/5/2021

Title

It is best interface and using comparing to other product of the same domain.

Pros

It’s professional and pointed on formulars instead of simple data entering

Cons

It is expensive, version updating process is manual, it is slow starting, slow opens files.
There is a list of problems and missing features that could be implemented:
- Form 21200 makes wrong calculation of amount for QST refund (reported into VD-358)
- CARE form took in federal consideration the amount entered in Quebec - it should not, because some times there is no deductible amount to federal side;
- When TED federal fails, it should not try to send provincial;
- in TP1 should be the possibility to transfer Québec refund into conjoint automatically, now it always manual;
- Where is useless diagnostics in a report of depending person. Dependant have same address, but diagnostics is asking if he lives alone and two more related questions;
- Then you try to open more then 5 pdf files (after generating pdfs) it always asking to confirm, because it maybe slow down the system. There is should be possibility suppress that confirmation forever. Like check box "Do not ask this question in a future";
- There is shoud be a summary page similar to DT max summary page - that shows essential information on one page;
- Then a person have self-employe income (2125) and foreign employe income, program should not calculate RQPP on this foreign income.

Scott
  • Industry: Accounting
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
4
Features
4
Ease of Use
4
Customer Support
4

5
Reviewed on 31/10/2019

There's competition and then there's Taxprep

Our public accounting practice produces a thousand personal tax returns and hundreds of corporate returns, so a tax preparation software is critical. We started with Taxprep about a quarter century ago. The software continues to evolve. Every few years we look at a host of other preparation software and talk to other preparers in the industry. Given our client base, with its particular complexity, we can't imagine another software handling it all. We also prepare US tax returns and have gone through numerous software providers; our terrible experience with US tax preparation software makes us realize how lucky we are with Taxprep for our Canadian work.

Pros

Importing and exporting data - we use this in a host of ways. For example, we have developed our own processing dashboard, detailed label production that provides key data on the docket speeding intake or referencing, sharing info between files, billing management, analyzing client base for potential review issues, double checking filings, etc.

Rich with nearly all required forms. Most complete of any tax software we have reviewed.

Reliable.

Cons

The form layouts often have a curious arrangement to them which is not ideal for data entry.

The drill down data on multi-forms (e.g. family member names) is inaccessible to the data reporter.

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