Drake Tax

Drake Tax is a tax preparation software designed specifically for tax professionals. It is intended to meet the needs of small to large tax preparation firms, including Certified Public Accountants (CPAs), Enrolled Agents (EAs), Tax Attorneys, Tax Consultants, and Accounting Firms. According to the vendor, Drake Tax aims to streamline the tax preparation process, saving time and increasing productivity for professionals in the tax industry.

Key Features

Save Time, Stay Productive: According to the vendor, Drake Tax is designed to help users complete tasks more efficiently, with features such as quick calculation results and a user-friendly interface that simplifies data entry.

Automatic Data Flow: Drake Tax is said to automatically transfer data from federal returns to state and city returns, with the ability to override if needed. It also provides automatic credit for taxes paid to other jurisdictions and auto-fills information from ZIP Code and EIN entries.

Multi-State Returns Made Easy: The vendor claims that Drake Tax allows users to create multi-state returns without the need for additional state add-on modules, potentially reducing costs and simplifying the process.

Efficient Data Management: Drake Tax offers features like LookBack, which provides easy access to fields with data from the previous year, and LinkBacks, which tracks calculated results back to their sources. Users can also mark items on tax forms for verification or review. The software allows for updating prior-year data to the current year as needed.

Data Backup and Restore: According to the vendor, Drake Tax provides easy backup options for client data, including custom settings. Users can restore client data to the same or a different computer, and also back up data to Drake Portals (SecureFilePro) for secure cloud storage.

Seamless Updates: Drake Tax offers both automatic and manual software updates, ensuring users have access to the latest features and enhancements.

Time-Saving Optional Hardware: Drake Tax supports optional hardware such as digital signature pads or 2D barcode scanners, which the vendor suggests can help save time during the tax preparation process.

Efficient Document Management: With the Drake Documents feature, users can store and access tax forms, returns, and documents in a digital filing cabinet, potentially improving document organization and reducing physical storage needs.

Spanish Language Support: Drake Tax includes 12 printable taxpayer forms in Spanish, providing support for Spanish-speaking clients and bilingual tax professionals.