Drake Tax Software best full Reviews & Ratings

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What is drake tax software?

Drake Tax Software is a tax preparation software developed by Drake Software Inc. It is designed to help tax professionals and accountants efficiently prepare and file tax returns for their clients.

Drake Tax Software offers a wide range of features, including a comprehensive library of tax forms and schedules, electronic filing options, and integration with various third-party software applications.

The software provides tax professionals with tools to manage their client base, track tax return progress, and process tax refunds.

It also includes various calculators and diagnostic tools to ensure accuracy and compliance with IRS regulations.

Drake Tax Software is updated annually to reflect changes in tax laws and regulations, ensuring that tax professionals can provide their clients with accurate and up-to-date tax advice.

SoftwareHope Rating

4.0

 4.2/5

Drake tax software Pros and Cons?

Pros

Efficient and user-friendly interface, allowing for quick and easy data entry and review.
Comprehensive tax form and schedule library, including state and federal forms.
Ability to import data from prior-year returns, W-2 forms, and 1099 forms.
Integration with third-party applications, such as accounting software and document management tools.
Customizable templates and forms to meet specific client needs.

Cons

Some users have reported occasional glitches or bugs in the software.
Price may be a bit higher than some of the other tax preparation software options on the market.
Limited mobile app support.
May not be as suitable for small or independent tax preparation businesses with a smaller number of clients.

Important Drake tax software Feature

Drake Tax Software offers a wide range of features to tax professionals and accountants, including:

Comprehensive library of tax forms and schedules: Drake Tax Software includes an extensive library of federal and state tax forms and schedules, ensuring that tax professionals can prepare accurate and compliant tax returns for their clients.
Integration with third-party software applications: Drake Tax Software can integrate with various third-party applications, including accounting software and document management tools, to streamline workflow and increase efficiency.
Electronic filing options: The software allows for electronic filing of tax returns, including e-file options for federal and state returns. It also supports electronic payment options for clients who owe taxes.
Diagnostics and calculators: Drake Tax Software includes various diagnostic tools and calculators to help tax professionals ensure accuracy and compliance with IRS regulations. These tools can identify common errors and omissions in tax returns, helping to reduce errors and increase efficiency.
Client management tools: The software provides tax professionals with tools to manage their client base, including contact management, document storage, and appointment scheduling.
Customizable templates and forms: Drake Tax Software allows tax professionals to create customized templates and forms to meet the specific needs of their clients.
Automated data entry: The software includes features for automated data entry, including the ability to import data from prior-year returns, W-2 forms, and 1099 forms.
Secure data storage: The software includes robust security features to protect sensitive client data, including encryption and secure backups.

Minimum System Requirements For Drake Tax Software ?

Operating System: Windows 7 or higher (Windows 10 recommended)
Processor: Intel Core i3 or higher (Intel Core i5 or higher recommended)
RAM: 4 GB or higher (8 GB or higher recommended)
Hard Disk Space: 2 GB of available space (more space may be required for data files)
Display: 1024 x 768 resolution or higher
Internet Connection: Required for software installation, updates, and e-filing.

It’s important to note that these requirements may change over time and depend on the specific version and package of Drake Tax Software.

Drake tax software Pricing?

Drake Tax Software pricing varies depending on the specific package and number of users required. As of my knowledge cutoff in September 2021, Drake Tax Software offered the following pricing plans:

Drake Hosted: Starts at $300 per user per year for unlimited returns, with discounts for additional users and multi-year subscriptions.
Drake Software: Starts at $1,595 per year for unlimited returns and one user license, with additional fees for additional users and state modules.

It’s important to note that pricing and packages may change over time, and it’s always best to check the most up-to-date information directly with Drake Tax Software or their authorized resellers.

Drake Tax alernative software

There are several Drake Tax alternative software options available that you may consider:

Lacerte: Lacerte is another popular tax software for tax professionals, offering a range of features such as customizable forms, tax planning tools, and e-filing. It is designed to handle complex tax scenarios and offers integration with other software programs such as QuickBooks.
ProSeries: ProSeries is a tax software option from Intuit, the same company that produces TurboTax. It offers features such as e-filing, customizable forms, and a range of tax planning tools. It is designed for tax professionals who handle a large number of returns each year.
UltraTax CS: UltraTax CS is a tax software option from Thomson Reuters that offers a range of features, including customizable forms, tax planning tools, and integration with other software programs such as QuickBooks. It is designed for tax professionals who handle a large volume of returns each year.
TaxWise: TaxWise is a tax software option from CCH, offering features such as customizable forms, e-filing, and tax planning tools. It is designed for tax professionals who handle a moderate volume of returns each year.
TaxSlayer Pro: TaxSlayer Pro is a professional tax software option that offers a range of features, including customizable forms, e-filing, and tax planning tools. It is designed for tax professionals who handle a moderate volume of returns each year.

Final word

Overall, Drake Tax Software is an excellent choice for tax professionals who want an easy-to-use, comprehensive tax preparation software that offers a wide range of features and benefits. With its customizable forms, tax planning tools, electronic filing, and comprehensive reporting capabilities, Drake Tax Software can help tax professionals save time and reduce the risk of errors while preparing and filing tax returns for their clients. And with its excellent customer support and data security features, tax professionals can feel confident using Drake Tax Software to meet their clients’ tax preparation needs.