CFS TaxTools vs Optiml

CFS TaxTools is Windows software for tax planning, retirement and financial utilities, tax forms, and flowcharts. Its Federal/State Tax Planner supports calculations and projections over five years or five scenarios. Financial tools include mutual fund average cost basis, loan, and investment modules. Client information can be mapped to forms, multiple versions can be saved for a client, and most forms can be emailed as PDFs. The client and preparer database supports unlimited clients, employees, and preparers. TaxTools imports client data from Lacerte, TaxWorks, ProSystem fx, CFS programs, and ASCII files; backup and restore functions can save client data to storage devices. Listed system requirements include Windows 11, 10, 8.1, 7 SP1, and specified Windows Server versions. CFS says users can enter the license code DEMO during installation to run the software in demo mode. TaxTools WorkShop includes unlimited clients and preparers, optional client password protection, technical support, and unlimited use of select tools at no extra charge. Prices include a $229, paid once annual renewal, a $239, paid once first-time single-user purchase, and a subscription at $19.92 a month, paid upfront for a typical 12-month term.

Optiml is web-based Canadian retirement planning software that stress-tests financial scenarios to help build a tax-efficient retirement plan. Users can run unlimited what-if scenarios and see how changes affect the plan. Its withdrawal optimizer determines a yearly tax-efficient withdrawal order across RRSP, non-registered, and TFSA accounts, while the CPP and OAS optimizer tests benefit start ages against the user's plan and goal. Success Score tests a plan against up to 50 scenarios, including market downturns, high inflation, and varying returns. The Estate Projector estimates after-tax estate value across the retirement timeline. Eva, an AI assistant, answers questions about the plan, taxes, and strategies using plan context. Optional Wealthica syncing imports account names and balances for supported account types; balances can also be entered manually. Optiml says the sync does not access transaction history or holdings. The company says its services and data are hosted in AWS facilities in central Canada and that data in transit uses 256-bit encryption with TLS/SSL endpoints. It states uptime of 99.9% or higher. Plans include Essentials at C$99 a year, Pro+ at C$249 a year, and Legacy at C$499 a year.