Drake Tax
Drake Tax is a professional tax preparation software designed to help small to mid-sized accounting firms manage federal and state returns with integrated e-filing and practice management tools.
Sovos
Sovos provides a comprehensive global tax compliance and regulatory reporting platform that helps you manage value-added tax, sales tax, and electronic invoicing requirements across multiple international jurisdictions.
Quick Comparison
| Feature | Drake Tax | Sovos |
|---|---|---|
| Website | drakesoftware.com | sovos.com |
| Pricing Model | Subscription | Custom |
| Starting Price | $99/month | Custom Pricing |
| FREE Trial | ✓ 0 days free trial | ✘ No free trial |
| Free Plan | ✘ No free plan | ✘ No free plan |
| Product Demo | ✓ Request demo here | ✓ Request demo here |
| Deployment | ||
| Integrations | ||
| Target Users | ||
| Target Industries | ||
| Customer Count | 0 | 0 |
| Founded Year | 1977 | 1979 |
| Headquarters | Franklin, USA | Boston, USA |
Overview
Drake Tax
Drake Tax provides you with a comprehensive suite of tools to handle federal and state tax returns for individuals and businesses. You can speed up your workflow using the built-in data entry shortcuts and automatic calculations that minimize manual errors. The platform includes integrated e-filing, allowing you to track the status of every return from transmission to IRS acceptance in real-time.
Beyond simple tax prep, you can manage your entire practice with included tools for document storage and client write-ups. The software is designed specifically for professional tax preparers who need a reliable, high-volume solution without the per-form costs found in other professional suites. You can choose between unlimited filing versions or pay-per-return options depending on your firm's specific volume and budget requirements.
Sovos
Sovos helps you navigate the complex world of modern tax and regulatory requirements with a unified cloud platform. Instead of managing fragmented systems for different regions, you can centralize your global tax compliance, electronic invoicing, and tax determination in one place. The software automatically updates to reflect changing laws in over 70 countries, ensuring you remain compliant without manual research or constant system updates.
You can integrate the platform directly into your existing ERP or e-commerce systems to automate tax calculations and filing processes in real-time. Whether you are expanding into new international markets or managing high-volume domestic transactions, the platform scales to handle your reporting needs while reducing the risk of audits and financial penalties. It is particularly effective for mid-market and enterprise companies operating across borders.
Overview
Drake Tax Features
- Lookback Tools View prior-year data instantly while working on current returns to ensure consistency and catch missed deductions for your clients.
- Automatic Calculations Update your tax results instantly as you enter data, with the software automatically choosing the most beneficial filing status.
- Integrated E-filing Submit federal and state returns directly to the IRS and track their acceptance status without leaving the application.
- Drake Documents Store and organize your client's tax records electronically to maintain a paperless office and meet record-keeping requirements.
- Multi-State Returns Generate and file multiple state returns simultaneously, with data flowing automatically from the federal return to save you time.
- Tax Planner Compare different financial scenarios for your clients to help them minimize their future tax liabilities and plan effectively.
Sovos Features
- Global Tax Determination. Calculate accurate sales tax, VAT, and GST for every transaction automatically based on the latest global tax rules.
- Continuous Transaction Controls. Manage real-time electronic invoicing and digital reporting requirements to meet strict government mandates across different countries.
- Tax Exemption Management. Collect, validate, and store tax exemption certificates digitally to ensure you only charge tax when it is legally required.
- Regulatory Reporting. Generate and submit accurate tax returns and regulatory reports to government agencies using automated filing workflows.
- Shipping & Distribution Compliance. Automate tax and regulatory checks for highly regulated products like alcohol and tobacco to ensure legal cross-border shipping.
- ERP Integration. Connect your compliance data directly to SAP, Oracle, NetSuite, and other major ERP systems for a unified financial view.
Pricing Comparison
Drake Tax Pricing
- Includes 15 tax returns
- Additional returns for $30 each
- All tax packages included
- Integrated e-filing
- Drake Documents and Scheduler
- Free online training
- Everything in Pay-Per-Return, plus:
- Unlimited individual returns
- Unlimited business returns
- Unlimited state returns
- Drake Tax Planner
- No per-return fees
Sovos Pricing
Pros & Cons
Drake Tax
Pros
- Fast data entry with keyboard-driven shortcuts
- Excellent customer support with short wait times
- All-in-one pricing includes all states and forms
- Reliable performance even during peak filing dates
Cons
- Interface looks dated compared to modern web apps
- Learning curve for navigating complex form trees
- Limited cloud-based features in the desktop version
Sovos
Pros
- Extensive global coverage for international tax jurisdictions
- Reliable automated updates for changing tax laws
- Strong integration capabilities with major ERP platforms
- Centralized dashboard for managing multiple tax types
Cons
- Implementation process can be complex and lengthy
- User interface feels dated in certain legacy modules
- Customer support response times vary by region