Tax preparation is part and parcel of every business – small and big. But, unlike in the past, when tax professionals need to file and prepare taxes manually, they can easily find tax preparation software for such needs. One of the trusted names in the list of tax preparation software is Drake Tax software.
Because of its all-inclusive features and benefits, Drake Tax software is used by more than 64,000 tax professionals nationwide and processes 33 million+ state and federal accepted returns. Therefore, if you are searching for the best tax preparation software for your needs and ended up at Drake Tax software, you must know about it in detail before making the final decision.
What is Drake Tax Software?
It is a tax practice management solution that can help tax professionals analyze tax years, estimate refunds, and prepare returns. It is best suited for tax professionals and companies to file returns simplified.
Drake Tax software has been designed with features that help professionals easily prepare and file tax returns for their clients. It was first marketed in 1977 and then grew popular as reliable, affordable software.
The parent company, Drake Software, has its headquarters in Franklin, NC, and employs more than 600 individuals.
Features of Drake Tax Software
- Quick and easy calculation for faster tax preparation
- Shortcut keys and macros to simplify data entry tasks
- Automatic flow of data from federal to state and city returns
- Multi-state return creation without the need to buy any additional module
- LinkBacks
- DoubleCheck to mark items as flagged for review, verified, or noted for review
- Easy software updates and backups
- Drake Documents to store tax forms, returns, and documents
- Easy to collect fees via credit or debit cards
- Drake Tax Planner
- Quick Estimator
- Amortization schedules
- Organized return viewing
- Print to PDF
- K-1 reporting
- Scenario planning
- Tax filing, and much more
You May Also Like to Read: 5 Powerful Features of Drake Software You Might Not Know
System Recommendations to use Drake Tax
| Parameters | Recommendations |
| OS | Windows 10 Pro, 64-bit |
| RAM | At least 4GB |
| Processor | 2.0 GHz or faster |
| Hard drive space | At least 2 GB (actual space requirement depending on the number of clients served) and SSD |
| Internet | High-speed Internet for optimal performance |
| Printer | Windows GDI or laser printer |
| Microsoft .NET Framework | Version 4.7 or higher |
Add-Ons or Complementary Tools You Can Choose with Drake Tax
The following table lists various tools you can use with Drake Tax software:
| Add-ons | Use |
| Drake Accounting | Accounting and payroll |
| Drake Portals (SecureFilePro) | Secure file exchange |
| GruntWorx | Automation of data entry, source file organizations, and investment trades from within the Drake Document manager |
| E-Pay | Payment (from credit/debit cards) acceptance |
| Tax Payment Options | Ease of paying taxes owed by your customers |
Awards received by Drake Tax Software
- 2021 Reader’s Choice Awards (CPA Practice Advisor)
- 2020 Tax Software Survey award (AICPA/The Tax Adviser)
- 2020 Tax Software Survey award (NATP)
- 2020 Annual Survey of New York State Practitioners award (CPA Journal)
- Journal of Accountancy and Tax Adviser 2021 Tax Software Survey (AICPA)
Drake Tax Software Pricing
The pricing of Drake Tax starts from $300 per year. Other package pricing details are given below:
| Drake Tax (Tax Year 2021) | Power Bundle | Unlimited | Pay-per-return |
| What it includes | Drake Tax 2021 and Drake Accounting 2022 | Drake Tax 2021 (Unlimited returns) | Drake Tax 2021 (10 returns) |
For more details on Drake Tax software pricing, click here.
Avail More Benefits with Drake Tax Software Hosting
Being a desktop product, Drake Tax software requires installation on a local computer system. Since you can only use local-hosted software on the same system, it often creates work-related limitations. As a solution, you can benefit from Drake Tax software hosting, using which you can host the software on a dedicated cloud server.
With Verito Technologies, you receive a world-class cloud hosting experience and flexibility to access Drake Tax from anywhere. In addition, with our industry-leading security measures and 30-days rolling backup, we ensure safe access to your files and software whenever you need them the most.
Also Read: Benefits of Drake Tax Software Hosting on Cloud?
Drake Tax Software FAQs
Is Drake the best tax software solution?
Tax professionals favorably use Drake Tax software for tax preparation and filing. Because of its comprehensive feature list is often regarded as one of the best tax software available in the market.
Who uses Drake Tax software?
More than 60,000 tax professionals use Drake software worldwide.
What is pay-per-return?
It refers to the pricing model of many tax software providers in which the users can choose to pay as they go for each return they prepare — individual or business.
What is GruntWorx?
It is a secure web application to automate various tasks to organize data and enter it into the Drake Tax software.
Is Drake Tax software cloud-based?
You can Drake Tax desktop software and then host it on the cloud with the help of a cloud hosting provider. Call us at 1-855-583-7486 for more details.
