Corporate Taxprep vs PowerPlan Tax Provision

Corporate Taxprep is Windows desktop software for preparing Canadian corporate T2 returns, with federal and provincial forms and tools. It includes more than 3,000 diagnostics and edit checks. T2 Data Connection is described as reducing preparation time by as much as 50% and improving accuracy for multi-corporation returns; the software can also transfer more than 750 GIFI items into 25 forms. Its Corporation Internet Filing module supports EFILE for T2 and Quebec CO-17 returns, along with NETFILE for Alberta returns. Tax planning tools include a Tax Rates Table and a five-year summary. InfoConnect links to tax research tools, while the Preparing Your Income Tax Returns guide is sold separately. A separate module adds forms and calculations for resource companies, credit unions, non-profits, and financial institutions. Corporate Taxprep Lite offers essential features at lower cost, though its restrictions require a representative inquiry. Pricing is available on request, and a free trial is offered. Wolters Kluwer provides support and training by phone, webinars, in-class sessions, and conferences.

PowerPlan Tax Provision is a SaaS product for income tax provision aimed at tax departments in asset-intensive businesses. It handles complex ASC 740 and ASC 980 calculations, automates repetitive work, and eliminates manual reconciliations. Running on the PowerPlan NXT platform alongside Tax Fixed Assets, it automatically uses data from that product in provision calculations without exports, imports, or custom integrations. Its tax engine covers regulated and non-regulated income tax calculations. Built-in dashboards and Data Hub libraries support analysis, and the Data Hub includes outbound APIs for data extraction. The SaaS model delivers functionality enhancements and compliance updates through quarterly releases. PowerPlan describes SOC 2 Type II certified infrastructure with continuous monitoring, third-party audits, and security controls. Integration with a client identity provider is required; SAML 2.0 is used by all modules except specified LDAP-integrated modules. Managed cloud services are described, and live phone and online case support is available Monday through Friday from 8:00AM to 8:00PM ET. Pricing is available on request; the product page offers a demo request rather than a stated price.