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Drake Tax is a complete tax submitting software program meant for tax preparers that gives a variety of options, together with the flexibility to print tax varieties in English and Spanish, return archiving, automated knowledge flows and useful software program tutorials.
Tax preparers can use the Drake Tax pack to arrange and course of their prospects' returns rapidly and effectively.
Learn this information to find out how Drake Tax compares to the greatest tax software program.
Greatest for tax preparers
Drake Tax is likely one of the greatest software program options for tax preparers because of its breadth of options and pricing plans. With Drake Tax software program, you'll be able to print tax varieties in English and Spanish, consider and evaluate taxes for various states and robotically double-check knowledge entry (and calculations) as you enter info.
Drake provides web-based, hosted and desktop software program choices. You should utilize the Drake software program obtain middle to entry present and prior-year federal and state software program, relying in your wants. Tax preparers additionally take pleasure in the next:
- Return archiving
- Amortization schedules
- Automated knowledge flows
- The flexibility to judge taxes for a number of years
- Drake Tax software program tutorials
Drake Tax software program professionals and cons
- Limitless returns included within the prime two tiers
- Gives quite a lot of tax instruments and choices
- Internet-based, hosted and desktop software program sorts obtainable
- Auto backup of tax paperwork and knowledge
- Restricted integrations
- Packages have to be renewed yearly
Professionals defined
Limitless returns are included within the prime two tiers
Drake's prime two pricing tiers — Limitless and Energy Bundle — function limitless 1040, 1040-NR, 1120, 1120-S, 1120-H, 1065, 1041, 990 and 706 tax returns.
The Pay-Per-Return plan contains 10 1040 and 1040-NR returns. The plan begins at $345 for 10 particular person returns and in addition converts to the Limitless plan after 85 returns. Different returns, reminiscent of 1120 or 1065, have extra charges of $44.99 every.
Gives quite a lot of tax instruments and choices
Drake has all kinds of tax choices and instruments.
- Preparer safety: This operate can assign safety settings to teams or particular person preparers. You may select from pre-defined safety settings or customise your individual.
- Return monitoring: Drake robotically data the time and date knowledge is first entered, the final time the return was calculated, the final time the return was altered and the return's e-file standing. You may also enter particulars like consumer contact info, interview time and return pickup time.
- Setup choices: Setup choices allow you to resolve which cowl sheets and letters you want, which varieties are generated with a tax return, whether or not to print submitting directions for state and federal returns and different capabilities like these related to the digital submitting course of. You may override many international setup choices on a per-return foundation.
- Standing of appointments and returns: Drake additionally gives instruments for figuring out the standing of appointments and returns, together with a Shopper Standing Supervisor (CSM) that permits you to search, manage and think about consumer recordsdata and handle productiveness with on-screen reporting and monitoring.
- Letters, invoicing, proformas and organizers: Drake gives 40 pre-written and customizable letters, together with pre-season, post-season and engagement letters. It additionally provides a number of bill billing choices, together with charging by merchandise, return or type. Moreover, Drake gives proforma monetary studies and organizers.
- Drake Portals: Drake comes with safe consumer file trade portals that mean you can trade Drake paperwork and entries along with your consumer over your individual safe website.
- GruntWorx: GruntWorx is a safe internet app that permits you to populate and manage recordsdata reminiscent of 1099s, W-2s and trades from dealer statements.
Internet-based, hosted and desktop software program sorts obtainable
Drake provides desktop, web-based and hosted software program sorts.
Drake's safe cloud-hosted atmosphere is the most suitable choice for unbiased tax preparers and small tax companies because it offers entry to ready-made companies and software program. Drake's cloud software program additionally provides excessive ranges of safety and fast deployment since it's deployed over the web.
However, companies with restricted funds could desire Drake Tax's desktop software program. In contrast to the cloud model, the desktop software program solely requires firms to pay for his or her person licenses as soon as. As such, the Complete Value of Possession (TCO) is often decrease than for a cloud system.
Automated backup of tax paperwork and knowledge
Drake comes with automated backups to revive your recordsdata if they're broken or misplaced.
The desktop model robotically backs up paperwork on the native laptop. Customers may also use the "Ship to SecureFilePro" operate to again up recordsdata on-line.
The cloud model robotically backs up recordsdata on the cloud. Drake makes use of Proper Networks to host its cloud software program.
Cons defined
Restricted integrations
Sadly, Drake tax planner has no direct integrations with fashionable bookkeeping software program reminiscent of QuickBooks and ZohoBooks. As such, you should discover, purchase and set up your individual bookkeeping software program for Drake.
Packages have to be renewed yearly
Drake packages don't robotically renew. You may renew Drake within the following methods:
- On-line by debit or bank card
- Test or fax by downloading the proper type, finishing the PDF in your laptop and mailing it to Drake along with your test or card info.
Drake Tax software program choices
Pay-Per-Return
Should you solely put together a number of returns, Drake's Pay-Per-Return is your greatest guess. It solely prices $345 per yr and comes with the next capabilities:
- Limitless customers/preparers
- 10 1040, 1040-NR returns included ($29.99 for every extra return)
- Doc supervisor with PDF printer
- Onboarding, with entry to a Getting Began webinar, neighborhood group and Zoom meetups
- Cellphone, chat and e-mail buyer help
- Integrations, together with pay with refund choices, Drake Portals and E-Signal and Gruntworx Tax Automation
- Workflow options like pre-season letters, organizers and a Shopper Standing Supervisor
- Workplace administration instruments like backup and restore, multi-firm help, tax preparer configurations and workplace configurations
- Tax compliance instruments, together with over 6,000 federal and state schedules and varieties, the flexibility to print varieties in Spanish, mounted asset studies and tons of of return diagnostics to make sure accuracy
Limitless
Should you put together many returns, Drake's Limitless plan could also be a greater possibility at $1,825 yearly. It gives every thing within the Pay-Per-Return plan plus the next:
- Limitless 1040, 1040-NR returns
- Limitless 1120, 1120-S, 1120-H, 1065, 1041, 990, and 706 returns
Energy Bundle
Lastly, should you want entry to all of Drake Tax's options, the Drake Energy Bundle is $1,975 yearly. It contains every thing in Limitless plus Drake Accounting & Payroll.
Drake Accounting allows you to handle important consumer monetary data with double-entry accounting. The software program provides a protracted record of helpful options, together with:
- A payroll module that gives a variety of varieties, payroll tax returns, payroll journal transactions, and dwell and after-the-fact (ATF) worker payroll
- An accounting module that permits you to customise a chart of accounts, use a template or import from an current consumer
- The flexibility to print and observe funds
- The flexibility to direct deposit vendor and worker paychecks into two totally different financial institution accounts by Drake's companion, Kotapay
- The flexibility to create on-the-fly varieties for e-filing or printing
- The flexibility to e-file 51 state tax and wage varieties
- A completely-integrated, tamper-proof and safe digital signature module that lets customers digitally signal federal varieties and checks
Drake Tax software program pricing
Drake's Limitless and Energy Bundle plans will be costlier than comparable plans by opponents. Nevertheless, Drake's Pay-Per-Return is cheaper than many related merchandise.
For instance, Drake's Limitless plan prices $1,825, its Energy Bundle plan prices $1,975 and its Pay-Per-Return plan prices simply $345.
In distinction, Intuit ProSeries Tax fees $1,299 per yr for its Fundamental Limitless plan, $1,317 for its Fundamental 50 plan (the equal of the Energy Bundle plan), and $908 per yr for its Fundamental 20 plan (the equal of the Pay-Per-Return plan).
Drake Tax software program accessibility
Drake Tax has what you must file taxes — and its web site has assets that can assist you discover ways to use the software program. There are various movies, commerce exhibits and software program seminars aimed toward instructing core tax preparation ideas, reminiscent of how you can observe your tax refund.
Availability
You should utilize your Drake software program login credentials to entry your Drake Tax account on-line.
Drake additionally comes with the SecureFilePro cellular app. This helpful app gives a safe consumer file trade, permitting tax preparers and shoppers to trade confidential tax paperwork conveniently and securely. The app is accessible on Google Play and the Apple App Retailer.
Drake Tax is accessible in all 50 states. It's headquartered at 235 E Palmer St, Franklin, NC, 28734.
Contact info
You may contact Drake by e-mail at Assist@DrakeSoftware.com and by calling them at (828) 524-8020. Spanish help is accessible for telephone calls. Assist hours are:
- December 2 to April 19: Monday to Friday, 8 a.m. to 10 p.m. EST; Saturday, 8 a.m. to six p.m. EST
- April 20 to December 1: Monday to Friday, 8 a.m. to 9 p.m. EST; Saturday, 9 a.m. to five p.m. EST
Consumer expertise
Many customers have praised Drake software program for being straightforward to know and use. Some have additionally praised Drake's customer support for offering entry to complete tax questions and solutions movies and guides. Clients additionally admire the flexibility to strive a Drake Tax software program demo earlier than committing to this system.
Nevertheless, Drake's web site leaves loads to be desired. From our perspective, it feels overwhelming and overcharged with info. Working example: the Drake Tax product web page is cluttered with bullet factors, which may confuse potential customers.
Some customers have additionally criticized Drake Tax software program's person interface for being dated and sophisticated. The screens don't all the time match up with the tax return varieties for the chosen yr, and switching between screens is just not intuitive.
Drake's cloud internet hosting answer has a fancy set up course of. You could buy a Drake Tax software program license and pay the bottom month-to-month internet hosting payment of $99 per person to make use of it. The Drake Account Setup crew will then provide help to arrange the cloud internet hosting software program.
In distinction, many tax instruments, reminiscent of QuickBooks Professional Tax, don't require set up and will be immediately accessed by the browser.
Drake Tax software program buyer satisfaction
Drake has been accredited by the Higher Enterprise Bureau since 1997 and has a BBB ranking of A+. BBB rankings signify the BBB's opinion of how seemingly the corporate is to reply to buyer complaints and attempt to attain a decision.
Drake has closed six buyer complaints throughout the final 12 months and 12 within the final three years. Most prospects complained about Drake's unresponsive and unknowledgeable buyer help and main software program bugs.
Drake Tax software program FAQ
What's Drake Software program's refund coverage?
In response to Drake Software program's refund coverage, customers can terminate their yearly licenses earlier than December 31 of the present yr and obtain a full refund with no penalty, supplied that the person returns all supplies to Drake by registered mail inside 30 days. These have to be undamaged, and the person should ship a written assertion that they:
After December 31 of the present yr, the licensee could request a refund inside 72 hours or three enterprise days of cost if the licensee has not ready or electronically filed any tax returns utilizing Drake Tax. Drake will deduct $200 from the refund for administrative, delivery, setup, dealing with and different prices.
Sadly, no refunds will be made for Drake Software program after January 15 of the following yr (i.e., 2024 should you purchased Drake Tax in 2023).
Does Drake Software program supply skilled tax companies?
Drake software program doesn't supply tax companies. As an alternative, it provides skilled tax software program to arrange any private or enterprise tax return.
Are Drake's tax merchandise price it?
Drake's tax merchandise supply a variety of functionalities, together with the choice to make use of cloud-hosted or desktop software program. Its Pay-Per-Return plan can also be cheaper than most comparable plans provided by opponents.
Whereas Drake is just not as strong as UltraTax, it is greater than sufficient for many tax companies and is environment friendly and simple to make use of.How we evaluated Drake Tax software program
We evaluated Drake tax software program by trying on the following:
- Drake tax software program choices: We checked out Drake's desktop and cloud software program choices and packages.
- Drake tax software program value: We evaluated Drake's software program prices.
- Availability: We assessed Drake in accordance with its availability to prospects nationwide.
- Consumer expertise: We evaluated the person expertise of Drake's companies, web site, and software program.
- Buyer help: We reviewed customers' opinions of Drake's buyer help.
- Buyer opinions and rankings: We reviewed buyer opinions and rankings on Higher Enterprise Bureau and different platforms.
Abstract of Cash's Drake Tax software program assessment
Drake provides limitless returns for its prime two software program tiers, numerous tax instruments and choices, quite a lot of software program sorts and automated backup of tax paperwork and knowledge. It is well-reviewed for customer support, person expertise and its three cost-effective plans. No matter you select for submitting your taxes, analysis which software program is the most effective for you.
Should you're not sure of your subsequent steps, seek the advice of a tax skilled. The fitting tax skilled can reply your whole questions and let you know what you must file taxes and how you can observe your tax refund. They will additionally train you how you can file taxes free of charge.