ProFile T2 vs Taxstream ProVision

ProFile T2 is Windows desktop software for preparing corporate T2/CO-17 returns, including amendments and consolidated returns. It supports unlimited returns and batch filing; electronic filing requires CRA EFILE registration. Corporate Linking shares tax information between related corporations and transfers RAC Details between returns. GIFI data can be imported from QuickBooks Online, Excel, and other accounting software, with carry-forward support for DT Max, Cantax, and Taxprep; availability can depend on module and version. The listed library includes over 130 CRA and provincial forms, T3 slips, and worksheets, including business, rental, and farming statements with asset tracking and CCA calculations. A real-time auditor identifies potential errors, indicates their seriousness, and offers correction explanations. Users can back up unlimited files and returns to the cloud and retrieve them later. The free trial includes all modules and features except filing completed returns. The T2/CO-17: Corporate plan is $1,190 a year and includes Québec and one license. Additional licenses cost $195 each for 1–4, $165 each for 5–7, and $145 each for 8 or more. Apple products are not supported.

Taxstream ProVision is an end-to-end system for producing quarterly and annual tax provisions without maintaining a corresponding spreadsheet. It guides data collection, provision calculations, and footnote production. The footnote generator connects to the tax database and updates reports when provision data changes, while ProTrace traces calculations between the general ledger and footnote. An automated audit trail records each provision step, and Review Mode lets auditors and advisors examine the work. Listed tax functions include foreign tax credit calculations, customized grouping, uncertain tax positions, and roll-forwards that retain calculations, rates, reports, and dashboards. The Model workspace develops and evaluates strategies against the global effective tax rate, imports spreadsheet or compliance-system data, and supports AI-based forecasting and scenario planning. EntityChart maps entity relationships and stores tax information. A.T.O.M. can select and apply plays from an integrated tax-planning playbook. Pricing is on request.