Drake Tax Software: characteristics, functions, pros and cons

Drake Tax is a software for tax specialists in which you can analyze tax reports for several years and file declarations while simultaneously creating reliable password – protected PDF files with mandatory double-checking. 24/7 customer support, which is in touch with you 24/7: isn’t that cool? Especially when you can’t figure out something in Drake Tax.

This is a Software that is mainly aimed at professional tax preparers. Drake Tax automates the entire return process, allowing professionals to work with their clients and build their business without spending a lot of time on complex tax procedures and calculations: from federal taxes to state or city income.

The software is regularly updated to comply with laws and regulations, helping you analyze the individual situations of your clients. Drake Tax can pay for the return, which is a great feature. The main problem with working with Drake Tax is the fact that it is not easy for inexperienced professionals to navigate because although the software automates the entire process, it does not do everything for you. However, with a little practice, anyone can master the Drake Tax and see all its effectiveness to the fullest.

What are the pros that users highlight?

• Cost-effectiveness. At Drake Tax, a flat annual fee covers all setup, e-filing fees, and return types with no hidden costs.
• The support team is consistently praised for its excellent customer service, with users noting fast response times and responsiveness. The support representatives are usually knowledgeable about the software and can help with a variety of issues. Despite some complaints, many users find Drake Tax user-friendly and easy to use. Once familiar with the interface, users find useful features such as rollover of information for the previous year and reduced time spent on data entry.
• Firms that are worried about data leaks can now sleep soundly.
• E-File Tracking simplifies e-filing by tracking returns.
• Integrates well with other systems and allows remote work with clients through portals.
• Ease of use. This software is constantly being simplified; it is reliable, but at the same time, simple. Drake Tax is a great time saver for users. Those minutes and even hours that you could have spent on complex software can be spent usefully. Now, you don’t have to think about unnecessary things: Drake Tax will do a lot for you.
• This software has keyboard shortcuts and macros that help simplify data entry and reduce the number of keystrokes. This is great because, in Drake Tax, you are not overwhelmed by the flow of data.
• The software has an automatic offset of taxes paid to other jurisdictions. You can update data for the previous year, and you also have simple backups.
• Drake Text Integration with Drake Docs. You can store and access text return forms and documents in Drake Docs. And as a bonus, you can access online research in the field of tax research.

• Convenience. You have the option to view forms in a tree structure or by category, it is very clear and convenient. The software offers a print set, thanks to which you can control which forms are in the order in which they are printed, and you also have the option to print files in PDF format. Drake Tax allows you to create a password-protected PDF file or send it by email to your client.
• For beginners, Drake Tax has made a section on how to get started with Drake (which is very convenient). You can contact them by email or through the support service on their official website. Users also have the opportunity to register their demo version if they want to know how the software works from the inside or are unsure whether Drake Tax is right for them or not. To log into your account, you need to enter your username and password, which will be sent by email.

There is a special video for beginners on the Drake Tax website page, and it’s cool.  This video is also available in Spanish, which is very convenient if you have clients from Spain.

Drake Tax is good because it has a fairly extensive training base for the most inexperienced users. The software offers training videos and seminars. However, if you do not find the answer to your question and need additional help, you can call 1-800-890-9500.

What are the downsides that users highlight?

• The software can be challenging for those new to tax preparation, as it lacks guided input for new users.
• Interface issues. Some users report that navigation is difficult due to limited input screens.
• Limited technical support. Some users experience delays in receiving feedback on their issues.

Key Features:

1. Automates document management to reduce manual data entry.
2. Comprehensive Tax. Forms include all required federal and state forms.
3. Error Checking. Built-in compliance and validation features to minimize errors.
4. Data Refresh automatically transfers prior year information to current year remote access portals for remote client work, albeit with some limitations.
5. Integration. Seamlessly integrates with other types of accounting.

Let’s now talk about Drake Tax Software prices. They offer both unlimited and paper returns models with discounts for new offices, without hidden fees. All electronic and state fees for filing documents are included in the annual subscription price. Drake Tax is perfect for small and medium-sized companies.

Drake Tax, like all tax software tools, costs a lot of money. For example, the 2024 Drake Tax Pro package costs $2,495 (for multiple users), and for single users – $2,195.  This package includes:

• Unlimited 1040, 1040-NR, 1040-SS, 1040-PR Returns.
• Unlimited 1120, 1120-S, 1120-H, 1065, 1041, 990, 706 Returns.
• Federal and State E-File.
• All States Included.

This pricing by Drake Tax Software is quite justified, as the price fully corresponds to the quality. You may have to pay a lot of money, but it will pay off keep your nerves intact, and save time.

Reviews of Drake Tax Software vary widely: some are satisfied with it and are quite happy with the work, while others see significant shortcomings in it.

We will consider both positive comments and negative criticism. For example, here is a good review of Drake Tax Software: “Drake is constantly improving its product, and this is an important goal. The annual subscription price is not cheap, but there is an entry price for new offices. Drake Tax Software, in my opinion, is much better than many other expensive solutions. Customer service is simply excellent”. And here is a negative review of Drake Tax Software: “This is a joke: I am trying to run a tax firm, but the tax preparers cannot work because Drake updates its software every few days, and you can only use it if everyone in the firm logs off at the same time to update”.