Drake Software

Overview

Drake Software provides professional tax preparation software solutions for tax professionals. Their flagship product, Drake Tax, offers tools for preparing and e-filing various federal and state tax returns for individuals and businesses. The company aims to streamline tax preparation workflows and enhance efficiency for tax practices.

Key Features

• Comprehensive Tax Preparation — Prepares individual and business federal and state tax returns with fast calculation results and accuracy checks.
• Workflow Automation — Integrates with Drake Workflow for automated return tracking, status updates, and urgency alerts across the Drake ecosystem.
• Secure Client Portals — Facilitates secure file exchange between tax preparers and clients for tax documents.
• Digital Signatures — Enables preparers and clients to sign documents digitally, supporting paperless workflows.
• Integrated Payments — Offers Drake Pay for collecting ACH, credit, debit, and Pay-by-Refund payments directly within the software.
• Desktop and Cloud Options — Available as a Windows-based desktop application (Drake Tax Desktop) or a web-based solution (Drake Tax Online) for accessibility from anywhere.
• Data Management — Supports importing electronic forms like W-2s, K-1s, and end-of-year balances, and offers free data conversions from most other software packages.

Who It's For

Drake Software is designed for professional tax preparers, ranging from solo practitioners to multi-site tax preparation businesses. It caters to tax professionals seeking to manage individual, partnership, and S-corporation tax returns efficiently. The software is also suitable for firms looking for integrated solutions for workflow, client communication, and payment processing.

Notable Strengths

Drake Software has been recognized as the "#1 Tax Prep Software Six Years Running" by CPA Practice Advisor Readers' Choice for Federal/State Income Tax Preparation. The platform offers both desktop and cloud-based options, providing flexibility for users who prefer a traditional installed application or web-based access, including on Mac devices. Its Practice Essentials bundle integrates workflow, portals, and e-signatures, aiming to provide a comprehensive solution for managing client interactions and practice operations.