Drake tax software

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#1
philly  
Posts:
1734
Joined:
14-Sep-2014 4:48am
Location:
New York
I have been using Prosystem Fx for over 20 years. The price of the tax program is out of sight for a small CPA firm. I am currently spending about $20,000 a year for prosystem. I went to a Drake seminar and was shocked by the price. I am thinking about trying the pay as you go option for $330.

Any comments about Drake ?
 

#2
Gjkycpa  
Posts:
237
Joined:
29-Apr-2014 1:53pm
Location:
Corbin, KY
Switched from Lacerte to Drake in 2008, still using Drake. Lacerte was $5K, drake was 1K. Drake has increased to only $1,095 since then.
Pro's
Price, very good on small to medium complex tax returns, service is excellent

Cons
Depreciation and state programs (KY for me), need to be checked closely, backing up files (at least for us).
 

#3
jon  
Posts:
1538
Joined:
3-May-2014 11:11am
Location:
minnesota
The Old CPA magazine in their September issue always have ratings of the tax software. I think last September Drake was shown as the best bang for the buck.
 

#4
ATSMAN  
Posts:
2094
Joined:
31-May-2014 8:34pm
Location:
MA
I have posted this many times. Before switching your tax software get a full working demo of the software you want and try your actual returns first before making a decision.

Drake will give you a fully working demo with e-file disabled. They also offer conversion program for most popular tax software.

Before I switched from Taxworks to Drake I did exactly that. Some carryforwards and depreciation may need to be adjusted slightly to match the actual figures but at least you will know what is involved and how much effort is needed to fix the issue.

I have not had any issues with multi-state returns because you can make adjustments to the various state allocations of income and expense items. I just did a 7 state return this season with minimal adjustments.
 

#5
philly  
Posts:
1734
Joined:
14-Sep-2014 4:48am
Location:
New York
thanks. I attended the seminar and they gave me a 2018 demo software. I will go pay as you go and practice with several returns before I decide to make a switch.
 


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