[Rayofsunshine]

Was wondering how hard it would be for Profile to either automatically split the pension income to the recommended amounts or at least put a warning in the auditor that there is pension income has a split been considered. We usually try to pick them all up but there has been the odd one slip through and have had to re-print when going over it with a client. Just a suggestion to improve the software. Thanks.

[Reg]

Rayofsunshine, on 11 April 2010 - 12:40 PM, said:

Was wondering how hard it would be for Profile to either automatically split the pension income to the recommended amounts or at least put a warning in the auditor that there is pension income has a split been considered. We usually try to pick them all up but there has been the odd one slip through and have had to re-print when going over it with a client. Just a suggestion to improve the software. Thanks.

No thank you. I don't want ProFile making my decision for me. I don't want the program to automatically optimize pension splitting, I don't want the program to automatically optimize medical expenses, I don't want the program to decide who should claim charitable contributions, etc. etc.

My clients pay me to exercise judgement and prepare their returns to their best advantage within the law.

I want to retain the ability to test a number of assumptions and cases and do the best I can for my clients.

By the way, if you check the passive auditor you will note a message that appears as soon as you enter pension income that is eligible for splitting

[JohnNP]

"Was wondering how hard it would be for Profile to either automatically split the pension income"

aargh! definitely not - please dont


the only thing that tax software should be doing automatically is to perform mandatory calculations correctly


elections pursuant to the income tax act are up to the taxpayer and their professional advisors and tax experts

[Rayofsunshine]

Reg, on 11 April 2010 - 01:58 PM, said:

No thank you. I don't want ProFile making my decision for me. I don't want the program to automatically optimize pension splitting, I don't want the program to automatically optimize medical expenses, I don't want the program to decide who should claim charitable contributions, etc. etc.

My clients pay me to exercise judgement and prepare their returns to their best advantage within the law.

I want to retain the ability to test a number of assumptions and cases and do the best I can for my clients.

By the way, if you check the passive auditor you will note a message that appears as soon as you enter pension income that is eligible for splitting

[Rayofsunshine]

Thanks Reg for that information. Am new to Profile this year and didn't know about that comment in the passive auditor! Really appreciate the info.

[Jim M]

I don't mind controlling the calculation but I forgot that the T1032 must be filed before the due date for filing the return. I am working with a client who has not filed his 2009 personal return (it is December 2010) and I went ahead to make the election. Fortunately I discovered the error before actually filing the return. Profile warns about other date sensitive filing issues such as if taxes are owed past the due date and so forth. Not flagging the late election issue could give preparers a false sense of security.

[Arliss]

Jim M, on 16 December 2010 - 01:50 PM, said:

I don't mind controlling the calculation but I forgot that the T1032 must be filed before the due date for filing the return. I am working with a client who has not filed his 2009 personal return (it is December 2010) and I went ahead to make the election. Fortunately I discovered the error before actually filing the return. Profile warns about other date sensitive filing issues such as if taxes are owed past the due date and so forth. Not flagging the late election issue could give preparers a false sense of security.

You may still pension split after the "due date for filing the return".

[Jim M]

Arliss, on 16 December 2010 - 11:47 AM, said:

You may still pension split after the "due date for filing the return".

Thanks Arliss, I was able to confirm that with CRA and will file the returns accordingly.