DRAKE TAX SOFTWARE: Features, Pricing & 2023 Reviews

Drake Tax Software
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Drake is well-known for being a brilliant artist as well as a renowned tax software provider. And the theme of the day is tax management software. In this guide, this Drake tax software review will look at Drake software cost, the products, and tools, as well as some pros and cons of this tax practice accounting management software solution. We will also have a good comparison of Drake Accounting vs Quickbooks. So, let’s get started!

What is Drake Tax Software?

Drake Tax is a tax administration software developed to assist small to midsize accounting firms in managing client returns through a uniform platform. Drake Tax uses a uniform gateway to help small to midsize accounting companies optimize returns processes for many clients. Organizations can use the portal to compare and evaluate taxes for different states, as well as print forms in Spanish.

Drake Tax’s doublechecking functionality enables tax professionals to manage data entering activities while reducing keystrokes. It includes electronic signatures, calculation error alerts, return archiving, collaborative filing, amortization schedules, automated data transfers, and other features. Tax professionals can also review returns for many years, find and remedy calculation problems, and share PDF documents with customers.

It has shortcut keys and macros to help tax professionals speed up data entering activities.

Drake Tax Software Review 2023: Is Drake Tax Software Any Good?

The short answer is that Drake is well worth it as a tax software solution. There are many good Drake tax software reviews out there, but we believe this is the only one you’ll ever need on the internet.

Drake Software is one of the top accounting software solutions for small businesses such as CPA firms and self-employed tax experts. Drake will always deliver on its sophisticated but user-friendly promise of being a fantastic tax SaaS.

Cost of Drake Tax Software

When it comes to the cost, Drake Tax software has three packages to choose from: Power Bundle, Unlimited, and Pay-Per-Return. The key distinction is that the Power Bundle includes access to Drake Accounting and Payroll software, whereas the others do not.

First of all, how much does Drake tax software cost? Let’s first review Drake professional tax software prices:

Drake tax software plansPrices
Drake Tax Power Bundle    $1,975
Drake Tax Unlimited$1,825
Drake Tax Pay-Per-Return$345 PPR
Drake E-SignIncluded with Drake Tax
Drake DocumentsIncluded with Drake Tax
Drake Accounting Forms Edition$345
Drake Accounting Professional Edition$795
Drake Portals monthly price$14.95 per month
Drake Portals annual price$149.95 per year
Drake GruntWorxContact vendor
Drake ProtctionPlus Firm-Level$10 PPR
Drake ProtectionPlus Standard$44.95 PPR

How Much Does Drake Tax Software Cost for Nonprofits?

Drake does not appear to be offering any deals for nonprofits or philanthropic groups at the moment. Having said that, Drake offers excellent resources to help organizations manage their taxes as effectively as possible.

Are there Any Drake Tax Software Coupon Codes or Promo Discount Vouchers?

We are sorry to inform you that there does not appear to be any Drake promos, coupons, vouchers, discounts, or special offers available at the moment, after meticulously searching the entire internet.

Drake Tax Software Free vs Paid: What’s the Difference?

There is no free version of this Drake online tax program. That’s not a major deal because, unlike CRM and other SaaS, tax software and accounting tools aren’t usually free. However, there are some free trials available for certain of Drake’s goods and features. Free trials are an excellent opportunity to get a feel for a tax platform and determine whether it is suited for you.

Drake Tax Software Features List

Drake tax software’s primary features are as follows:

#1. Drake Tax Planner

The Drake tax preparation software and all of its tax planning features are at the heart of our review. While most Drake products integrate effortlessly, Drake tax is frequently the module that holds all the other modules together, especially during tax season.

Drake Tax employs automatic data flow to integrate information from many tax returns, saving you time on manual data entry. Sort your items into categories like confirmed, highlighted for review, or noted for review, and be notified when an item requires immediate attention.

Self-employed tax professionals can utilize the Drake Tax Planner to assist clients in saving money on their tax returns based on factors such as income, marital status, and dependents. A rapid estimator, amortization schedules, and a tax return archiving tool are also available. Drake Tax workflows are simple to use.

#2. Drake Document Manager

Using Drake Documents is a terrific method for CPAs to reduce paper waste and free up office space, and any new customer will likely welcome the digital service as well. Drake Documents can be used in conjunction with Drake Tax and Drake Portals.

To keep organized, use the Drake document organizer to create custom cabinets, drawers, and folders. Moving data around is made simple by the ability to import and export taxpayer information. This Drake software features an inbuilt email launcher, which expedites the procedure for accounting forms to send papers to their clients.

#3. Drake Secure File Pro Portals

If your accounting firm wishes to create their own website, Drake Portals can help. It includes a domain with Secure File Pro. It’s quite secure, and you get off-site backup.

When you have your own SecureFilePro subdomain, you can add some own branding, such as a company logo. Upload PDFs and tax returns so that clients can access them whenever it is most convenient for them. They are able to sign them in the portal. Documents can also be shared between clients.

#4. Drake Accounting

Many Drake and similar tax software packages offer PPR, or pay-per-return, which means you only pay for the tax returns you deliver. But if you have enough clients, you can acquire Drake Accounting, which offers limitless clients, installs per unit, payroll, form production, and more.

Drake accounting extends beyond simple tax platforms. Complex bookkeeping, accounts payables and receivables, multi-location payroll, and batch payroll processing are all handled by it. Great Drake accounting reports are available in both tree-view navigation and visual drill-down reporting.

#5. Drake E-Sign

E-signatures are another technique to reduce paper waste while also saving time. Drake E-Sign Online is compatible with Drake Tax and Drake Portals SecureFilePro.

With a signature pad, you may rapidly allow clients to utilize a digital signature on each page of a tax form. These are authentic, secure, and tamper-proof signatures.

A tax preparation provider’s digital signature can be created once and then easily utilized. Standard PDF printing is also available, as well as password protection and watermarking features.

You can provide clients the choice of signing now or signing later. If this occurs later, the document is saved in the client’s document manager folder.

#6. Drake Software GruntWorx

GruntWorx is the Drake name for text recognition automation tools, which, as anybody who reads this site knows, are essential for maintaining your business processes as efficient as possible.

GruntWorx allows you to automatically digitize any printed or written text, reducing the need for manual entry. They use the most advanced OCR (optical character recognition) technology. There is also a human review process for maximum accuracy, but it is only available in the United States.

#7. Drake Software ProtectionPlus

Drake Software’s ProtectionPlus feature assists you with IRS audits and other interactions.

If you are a CPA or tax professional who is overwhelmed by customer notices and audits, ProtectionPlus can be a huge help and time saver. They provide assistance with scheduling, tax debt relief, disallowed credits, and fraud.

Furthermore, identity theft restoration services with fraud alerts on credit records are available, as is business insurance.

#8. Drake Software TheTaxBook

If you’ve ever heard of the CPA Practice Advisor’s Readers’ Choice Awards, you’re probably aware that TheTaxBook has been named number one for the past nine years in a row. This is the finest location for comprehensive tax research and business insights.

Drake provides it in PDF format, which you may distribute with clients via email. It is also searchable for easy reference. The content is always kept as up to date as feasible. It reads well on a computer, tablet, or mobile device. You may create bookmarks, search histories, and even browse the archives of previous issues.

Drake Tax Software Pros and Cons

The following are the benefits and drawbacks of Drake tax software:

Advantages of Drake Tax Software

Drake Software has numerous advantages. First and foremost, this platform receives high marks for usability. Because the learning curve is quick, you’ll be up and running in no time.

Next, when it comes to sharing papers and files with your clients, Drake Portals is a fantastic method for setting up a secure file-sharing system.

Drake Tax software offers about everything you may want in a tax accounting system. It lacks none of the essential tools, yet it is not overburdened with features.

Finally, it excels at capturing text that has not yet been digitized, such as printed forms of handwriting.

Disadvantages of Drake Tax Software

There aren’t many major Drake tax software issues. When it comes to Drake’s flaws, the most noticeable is the interface’s outdated appearance and feel.

Furthermore, one of the drawbacks of Drake is its customer service. It’s not the worst, but some people wish it was a little better.

Finally, if you need a more comprehensive tax and personal finance solution, Drake is a bit limited.

Drake Accounting vs Quickbooks

What is better Drake Tax Software vs QuickBooks? Quickbooks Online Accountant is more than software for accountants – it’s one place to grow and manage your entire accounting practice. Drake Accounting lets you manage basic client financial records with double-entry accounting. They both have their disadvantages and advantages and it is left to you to compare the both and select the one you wish to go for between Drake Accounting software vs Quickbooks.

Drake Tax Software Customer Support Review

Drake Tax offers customer service via phone, email, and online forms. New users are encouraged to watch a series of online tutorials that explain how to utilize the software. This Drake CPE provides self-study, on-demand, and annual filing season program courses, as well as online reference manuals and a user manual.

Drake Tax Software Ease of Use Review

Drake Tax is extremely user-friendly, with simple navigation. It contains several features that assist you confirm the accuracy of information, such as the LookBack and DoubleCheck diagnostic tools. The option to add hardware, such as a barcode scanner and e-signature pad, simplifies your and your clients’ lives by removing the need for paperwork.

How Do I Download Drake Tax?

Choose Downloads > Drake Tax from the main Drake Software Support page.Select the tax year you want to download from the drop down menu.Select the Download option. Respond to any security warnings that appear during the download in order to proceed.

What Does Drake Software Do?

Drake Software is a top-tier professional tax preparation software vendor. This Drake offers tax professionals with the tools and assistance they need to grow their firms and attract new clients. Drake clients know they can count on us for comprehensive product excellence and value.

Does Drake Software Have Tax Planning?

The Drake Tax Planner assists you in assisting your clients with future planning. Clients can see how changes in their finances and tax liabilities can affect their finances and tax liability by comparing their present tax situation to alternative situations that can occur, such as marriage, the birth of a child, or purchasing or selling a house.

Does Drake Integrate With Quickbooks?

Tax information from QuickBooks can be imported into Drake Tax by first exporting the file from QuickBooks and then importing the file into Drake Tax. We recommend that you constantly backup your Drake and QuickBooks files before proceeding with this operation.

How Much Does Accounting Software Cost?

Accounting software can cost as little as $9 per user and as much as $999 per user.

Do I Need an Efin to Use Drake Tax Software?

You must have a standard EFIN, not an online filer EFIN, to e-file using Drake Tax. Online filer EFINs begin with 10, 21, 32, 44, or 53 and cannot be utilized for Drake Tax e-filing. If you chose this type of EFIN, you must update your EFIN application as described in section 3.42.

How Do I Transfer Drake Software to a New Computer?

The procedure consists of three major steps:

  • Make a backup of your current Drake Tax installation.
  • Install Drake Tax on the new computer.
  • Restore the backup to that new installation of Drake Tax. 

Conclusion

Drake Tax is a fantastic choice for businesses that need to produce any form of income tax return, and it includes many of the same features as more expensive software, such as a tax planner and client organizer. It also allows you to add hardware, such as an e-file signing pad. Drake tax software low cost and simple design make it an excellent choice for low-volume tax preparers searching for a versatile tax software solution.

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