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.
TurboTax
TurboTax is a comprehensive tax preparation software that guides you through federal and state income tax returns with step-by-step questions to maximize your deductions and ensure filing accuracy.
Quick Comparison
| Feature | Drake Tax | TurboTax |
|---|---|---|
| Website | drakesoftware.com | turbotax.intuit.com |
| Pricing Model | Subscription | Freemium |
| Starting Price | $99/month | Free |
| FREE Trial | ✓ 0 days free trial | ✘ No free trial |
| Free Plan | ✘ No free plan | ✓ Has free plan |
| Product Demo | ✓ Request demo here | ✘ No product demo |
| Deployment | ||
| Integrations | ||
| Target Users | ||
| Target Industries | ||
| Customer Count | 0 | 0 |
| Founded Year | 1977 | 1984 |
| Headquarters | Franklin, USA | Mountain View, 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.
TurboTax
TurboTax simplifies the complex world of tax filing by transforming daunting forms into a series of simple, conversational questions. You don't need to be a tax expert to get your maximum refund; the software handles the calculations and searches for over 350 deductions and credits based on your unique life situation. Whether you are a simple W-2 filer, a homeowner, or a small business owner, you can navigate your taxes with confidence using their intuitive interface.
The platform provides various levels of support, from DIY filing to full-service options where a tax professional does everything for you. You can import your financial data directly from employers and financial institutions, significantly reducing manual entry and potential errors. It is designed for individuals, freelancers, and small business owners who want a guaranteed accurate return without the high cost of a traditional accounting firm.
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.
TurboTax Features
- Step-by-Step Guidance. Answer simple questions about your life and let the software automatically fill out the right tax forms for you.
- Deduction Finder. Scan for over 350 tax deductions and credits to ensure you keep more of the money you earned.
- W-2 Import. Snap a photo of your W-2 or import it digitally to save time and eliminate manual data entry errors.
- Audit Support Guarantee. Receive free audit guidance from a trained professional to help you understand what to expect if the IRS contacts you.
- Expert Review. Connect with live tax experts who can review your return line-by-line before you file for total peace of mind.
- Maximum Refund Guarantee. Get the largest refund possible or your money back if another tax preparation method finds a bigger one.
- ExplainWhy Technology. View instant explanations for why your refund amount changed so you understand your financial picture clearly.
- Mobile Filing. Start, stop, and finish your taxes across your phone, tablet, or computer with seamless data syncing.
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
TurboTax Pricing
- For simple tax returns only
- W-2 income reporting
- IRS standard deduction
- Earned Income Tax Credit
- Child Tax Credits
- Free federal and state filing
- Everything in Free, plus:
- Itemized deductions
- Mortgage interest deductions
- Property tax reporting
- Charitable donation tracking
- Search 350+ tax credits
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
TurboTax
Pros
- Extremely user-friendly interface for non-experts
- Seamless data importing from financial institutions
- Clear explanations of complex tax concepts
- Reliable mobile app for filing on the go
- Excellent live support options for tricky questions
Cons
- Pricing can feel high for complex returns
- Frequent prompts to upgrade to paid tiers
- State filing often requires an additional fee
- Limited functionality in the free version