In today’s fast-changing financial world, Drake Software (DS) is a key player for tax pros and small businesses. It’s made for tax preparation software, helping users manage their clients’ money well. Drake Software also offers great support and easy connections, letting tax pros focus on their clients while handling small business accounting tasks.

Drake Tax is a top product, meeting the needs of tax pros and CPA firms. It boosts productivity and is among the best tax software options. With features like unlimited state returns, e-filing, and lots of online storage, Drake is a must-have for tax pros.

Drake Software has competitive prices and makes workflows smoother. It draws in many users wanting to improve their tax work. With it, tax pros can have an easier time from start to finish, keeping them competitive.

Key Takeaways

• Drake offers a powerful solution for CPA firms and tax practitioners.
• Unlimited state returns and e-filing are included in Drake Tax plans.
• Flexible payment options cater to both seasonal and established tax practices.
• A commitment to user support enhances the overall functionality of the software.
• Using Drake can improve client retention through proactive communication and personalized services.
• The software’s capabilities can significantly reduce manual workloads by automating calculations.

II. Products and Services

Drake Software is a top choice for tax filing solutions. It offers professional tax software for tax pros and accounting firms. This software has a central platform for easy tax prep, managing many tax forms.

Over 77,000 tax pros use it, showing its benefits.

Drake Tax Software

Drake Tax Software is a strong tool for tax filings. It supports over 7,700 federal and state forms and schedules. This means it covers all client needs.

Its easy-to-use design makes tax prep faster and more accurate.

Supported Tax Forms and Schedules

This software helps with Form 1040 series for states with personal income tax. It also handles Form 1065 returns and partner Schedule K-1s. Automatic data entry from Schedule K to K-1 makes things easier.

It also offers e-filing for states like Michigan and Massachusetts.

Features and Functionality

Drake has key features for a better user experience. It offers automated calculations, return diagnostics, and detailed reports. Training options like webinars and video tutorials help users get the most out of it.

This boosts productivity.

Integrations

Drake integrations are key to its functionality. It connects with QuickBooks and e-signature solutions. This makes teamwork smooth.

It also works well with other apps during busy times. The software adjusts its performance to meet user needs.

III. Using Drake

Starting with Drake Software is easy. It lets users set up their system quickly. The software has a user-friendly interface that makes it enjoyable to use.

After setting up, users can start using the software’s many features. This makes tax preparation easier and more efficient.

Getting Started with Drake

A 5-digit PIN is needed for each preparer. This is set up under Setup > Preparers and Users. Users also need to enter a phone number for the preparer under Setup > Firms.

For third-party designees, choosing “None” means no designee is created. But, you can pick up to nine preparers if you want.

Tax Preparation Workflow

The workflow in Drake Software guides users step by step. It lets users choose someone to talk to the IRS about their return. This ensures all designee info is correct for smooth e-filing.

The software is known for its accuracy and ease of use. It’s a top pick for tax pros.

Data Entry and Import

Importing data from electronic forms makes data management easy. This feature helps avoid errors with its validation rules.

For example, missing a designee’s name or phone number will show an error. Not having a PIN will show two errors.

E-Filing with Drake Software

Drake Software makes e-filing simple. Returns are filed directly from the app. The “Return Preparer” option uses the current preparer and requires a PIN.

Choosing “Y” for designee info without filling in the fields will stop filing. This process reduces errors and boosts productivity for over 60,000 tax offices.

IV. Drake Software vs. Competitors

Many professionals look for the best tax software for their needs. Drake Software stands out, with benefits that make it a top choice. It beats competitors in several key areas.

Comparison with Other Tax Software Options

DS combines unique features and pricing. This sets it apart from other tax software. Here’s a detailed look at what makes it different:

Software	Starting Price	Implementation Cost	Customization Cost	Average Training Cost	Rating (out of 5)
Drake Software	$330/year	$500	$500 – $2,000	$200/user	4.9
TaxSlayer Pro	$299/year	$300	Starting at $200	$100/user	N/A
Lacerte	$445/year	$400	$300 – $1,500	$150/user	N/A

While TaxSlayer Pro and Lacerte might be cheaper upfront, DS is the top choice. It has a high ITQlick score of 86/100 and a rating of 4.9. These scores show it’s highly functional and well-supported.

Choosing the Right Tax Software

Choosing tax software needs careful thought. Consider several factors:

• User-Friendliness – Easy-to-use software boosts productivity.
• Customer Support – Good support means less downtime and more work done.
• Pricing Structures – Know all costs, including extra features and training.
• Specific Features – Look for key features like cloud hosting for businesses.

The Software’s cloud hosting offers many benefits. It provides fast computing and strong data security. These are key for businesses. Thinking about these points helps find the best tax software.

V. DS Reviews and Testimonials

DS is a top pick for professional tax software, as seen in user reviews. People like its reliability, effectiveness, and wide range of features. It’s great for both individual tax preparers and CPAs.

Platforms like G2 and Capterra show that users are very happy. They often talk about the Drake user support. This support makes a big difference during tax time.

User Reviews and Ratings

Drake Software users see it as a strong tool for tax needs. They praise its:

• Accurate calculations and reports.
• Wide range of features for different tax situations.
• Easy-to-use interface, even for those new to tax software.
• Efficiency in handling returns, saving time and effort.

Case Studies

Many case studies show the real benefits of using Drake Software. Tax professionals have seen big improvements in their work. For example:

1. Streamlined workflows mean faster turnaround times.
2. Happy clients because of easy access to tax returns and secure communication.
3. More productivity thanks to features that cut down on delays.

Drake Software also offers real-time backups and support. These features help build a loyal user base. They get both professional support and reliable software.

VI. Drake Software Updates and News

DS keeps users up-to-date with the latest features and updates. Regular updates improve the user experience and keep up with tax law changes. These updates also add new integrations to make tax preparation easier.

Recent Updates and Enhancements

DS hosts Update Schools in several U.S. cities. These include Baltimore, Franklin, Dallas, Atlanta, and Las Vegas. Attendees can earn up to 8 hours of Continuing Professional Education (CPE) credit.

• 11/9 in Baltimore
• 11/16 in Franklin
• 11/29 in Dallas
• 12/6 in Atlanta
• 12/12 in Las Vegas
• 12/20 in Franklin
• 01/05 in Franklin

At these sessions, two courses are offered: Drake Essentials for new users and Drake Expanded for advanced users. Topics include the 2024 tax season, 1099s, cryptocurrency, and electric vehicle tax credits.

Industry News and Announcements

Drake Software Update Schools feature industry sponsors like the National Association of Tax Professionals and Refund Advantage. The Taxpayer Advocate Service will also be there at some locations. The IRS has announced e-filing for businesses starts on January 15, 2025, and for individuals on January 27, 2025. Direct File is available in 25 states for eligible taxpayers.

VII. Pricing and Purchasing

DS’s pricing is key for tax pros and small businesses. It offers plans for different needs. These plans help find affordable tax solutions without sacrificing quality.

Drake Software Pricing Details

The basic Drake Tax Pay-Per-Return (PPR) package costs $349.99 for 10 individual returns. You can buy more 1040 returns for $39.99 each and business returns for $59.99 each. When you spend $2,495, you can switch to the Drake Tax Pro version for $2,095.

DS’s pricing is based on how many returns you need. This gives users financial insights to make informed choices.

How to Purchase Drake

Buying Drake is easy and straightforward. Here’s how to do it:>

• Visit the official Drake Software website.
• Select the right package for your needs.
• Add extra returns or features if needed.
• Securely complete the checkout online.

This makes it easy to find the best package for your tax needs.

Discounts and Promotions

Drake Software often has special offers and discounts. These deals can include seasonal discounts or bundles. It’s a good idea to check for current discounts to save money.

VIII. Conclusion: Is the Software Right for You?

Drake Software is a top choice for tax preparation, known for its strong features and great customer support. It offers tools for detailed tax planning, safe document storage, and team collaboration. Yet, it might be hard to use for beginners and not available for everyone.

But, cloud hosting makes it better by making it easier to access, grow, and keep safe. This helps tax pros do well.

It’s great for tax experts, CPA firms, and small businesses looking to make tax prep easier. The prices are flexible, and you don’t need to buy expensive hardware. Cloud hosting keeps your data safe during busy tax times.

Want to see how Drake Software can help your tax work? Check out their website or ask for a demo. This will show you what the software can do. It might be just what you need to improve your tax prep.

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