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Drake Tax Software Review

Drake Tax Software OUR SCORE 86%
starting price $300
our score 86%
free trial
  1. What is Drake Tax Software
  2. Product Quality Score
  3. Main Features
  4. List of Benefits
  5. Technical Specifications
  6. Available Integrations
  7. Customer Support
  8. Pricing Plans
  9. Other Popular Software Reviews

What is Drake Tax Software ?

Drake Tax is a professional software designed for federal and state returns. It provides tools and support tax for small and medium accounting firms. A product by Drake Software, Drake Tax helps and supports individuals and companies build their businesses and attract new clients. By reducing keystrokes and simplifying data entry, the macros and shortcut keys of Drake Tax help prepare returns quickly and more efficiently. Through the software, returns can be calculated automatically as users enter data. Besides, Drake can also export K-1 tax information to Form 1040 and export 8615 parent’s tax information to a child’s Form 8615. It also facilitates the preparation of a number of state returns and gets taxpayer forms in Spanish. Users can also compare yearly taxes to analyze multiple tax years. Errors can be quickly identified and corrected while calculating returns. Moreover, the software even allows users to e-file state and federal returns.

Product Quality Score

Features
8.8
Ease of use
8.5
Customer support
8.4
Value for money
8.7
8.6
TOTAL SCORE

Drake Tax Software features

Main features of Drake Tax Software are:

  • Calculation Error Messages
  • Calculation Results
  • Organized Return Viewing
  • K-1 Tax Infomation Export
  • Schedule D (Form 1040) Import
  • Automatic Data Flow
  • 8165 Tax Information Export
  • Compare Taxes Year to Year
  • Calculation Notes Messages
  • Taxpayer Forms in Spanish
  • Import W-2s and K-1s
  • 2D Barcode Scanner
  • Shortcut Keys and Macros
  • Tax Planner
  • Return Archiving
  • Quick Estimator
  • Amortization Schedules
  • Multi-State Returns
  • Drake E-Sign
  • E-File States
  • PIN and Consent Screens
  • Attach PDFs to Returns
  • E-Filing

Drake Tax Software Benefits

Benefits

The main benefits of Drake Tax Software are instant returns calculations, accurately displaying errors, tax forms imports, and online submission of tax returns. Users can instantly review the returns through Drake Tax. Once the user is done calculating the return, results of calculation pop up. This helps them know if the return applies for e-filing.  The calculation results also show the fees as well as the refund amount.

Drake Tax also displays a message showing errors in calculation returns while also allowing users to fix them quickly. Information related to errors as well as tips on how to correct errors is also notified. Furthermore, users can set reminders for themselves by adding notes for returns and tax forms. The feature of adding notes is useful for sharing information with staff.

Users can also import fax forms to the software such as Forms W-2, K-1, and 1040. Forms W-2 and K-1 can be imported using a 2D barcode scanner, which is hardware that can be integrated with the software. The software also allows users to export tax information to tax forms. For example, K-1 tax information can be exported from 1041, the 1120S, and 1065 returns to Form 1040.

The e-filing feature in Drake Tax facilitates online submission of tax returns. It also has the option to attach PDF documents to returns. There is also an option to use a signature pad to electronically sign returns so as to eliminate paper versions of returns. PIN and consent screens are used by the software to allow customers to approve the returns. Through this feature, users can e-file state and federal returns combined or separately.

Technical Specifications

Devices Supported

  • Web-based
  • iOS
  • Android
  • Desktop

Customer types

  • Small business
  • Medium business
  • Enterprise

Customer Support Types

  • Phone
  • Online

Drake Tax Software Integrations

The following Drake Tax Software integrations are currently offered by the vendor:

Drake Tax Software supports integration with GruntWorx which is a secure, web-based application providing tax automation and organization.

Customer Support

Phone
Online

Pricing Plans

Drake Tax Software pricing is available in the following plans:

Free trial
DRAKE UNLIMITED VERSION
$1395
DRAKE PAY-PER-RETURN VERSION
$300