DRAKE appraisal

[ari]

Going full blast with Drake.

It's a good program.

Calculates and moves lightning quick.

Biggest facilitator for me is to

go to one of the data entry screen

right click on an empty space

then go to Form Based Data Entry....

and whamo....now have similiar to ATX

though I miss not being able to put cells in notes

Nevertheless, working with Drake it's like driving a sports car

...it moves and calculates blazingly fast.

[Randall]

Thanks for the comments. Right now with ATX, all I can think about is what Tom Cruise said in Top Gun, 'I feel the need for some speed'''.

[Richcpaman]

Ari:

What type of Clientele do you have?

1040's/1120/1120s/1065/990?

Big complex returns or 1040/schedule A?

Makes a difference if I move.

Rich

[ari]

all of the above...except 990's

big clients/ small clients

...i still like forms based better

....and i like atx's ability to put notes in a cell for current year

and future years....that's a big ticket for me...and drake doesn't

have a wonderful layout for leaving notes that you want carried forward each year;

basically i take extensive notes on clients; when they're talking, i'm typing

what are you using?

[clay]

I found Pro Series to be much better than Drake.

And...all the bad talk about Pro Series's marketing, is irrelevant to me if the program proves to be a winner.

I have no concerns of losing clients to Turbo Tax.

I am not trying to promote Pro Series, just provide my take after looking at and used both Drake and Pro Series.

[jklcpa]

I switched to Drake and prepare all the returns except 990s. Some returns are little, most are larger complex returns or business returns with lots of fixed assets. The program is fast, and I am faster now that I have learned where certain input screens are located within the program.

The first thing I found that is superior to ATX is the credit for taxes paid to other states. In ATX, the credit took some juggling and linking, but with Drake it is automatic and I haven't found any that required corrections or overrides to the input.

Second, creating the efiles and transmitting them with Drake is lightning fast. There is absolutely no comparison on speed of this part of the process. Drake is superior.

On the negative side, when I converted my 1065 and 1120 series returns to Drake, the 2011 converted file had all of the proper figures, but the line items for the expenses didn't flow to the proper lines. Example, accounting expense might have shown on the supporting schedule as bank charges. This wasn't a big deal to me because we aren't really using that file for the actual return as this was only a conversion file. The only thing that was affected by this line mismatch was the 2-year comparision. My clients all like that form so I fixed those mismatched expenses and made sure that the 2011 conversion was correct in all ways. I spent one weekend checking every converted file. Someone warned to carefully check the fixed assets and depreciation on the converted files, but I found no errors at all there.

Second negative, and this is probably me not knowing properly how to input this, but I preferred ATX schedules for the state estimates flowing over to Schedule A. I don't care for the input when the 4th quarter 2011 estimate is paid in Jan 2012 and the 4th 2012 estimate is paid in 2013, and then trying to get the proper amount to be reported on the state return for the paments. I've got it worked out, but I think ATX is easier for these inputs.

The only return that I haven't been able to get worked out is one Delaware return that I will have to paper file. It has an oddball credit for the historic preservation of the taxpayer's home. This is a very large credit that is being used a little each year and carrying forward. Drake is trying to split 50-50 (yes, it is a joint credit), and is trying to allow more credit that the total tax. It should be taking the credit only up to the net tax after exemptions (Delaware's exemptions are a credit against the tax). On this one return I can get the Form 700 for the credit to print properly with an incorrect application on page 1 of the DE return, OR I can override the credit applied on page 1 of the DE return but the override stops the program from producing the Form 700 for the credit. So for this one return, I will efile the Fed and paper file the DE.

Other than that one return above, I have had no problems using the program at all. I don't think it is quite as easy or flexible as ATX, and it has the forms I need for my clientele. Overall, I am very pleased with its performance, especially with those out-of-state credits. Delaware is so small, and I live right on the PA line and am 20 mins from MD and NJ, that a lot of my individual clients have multi-state returns, so that one improvement has been a real timesaver for me.

[ari]

i've heard good things about Pro Series

I don't love that they market a product that is a competitor

but i think they may have form based input

and my friend speaks quite well of hte program

and the price is right;

it's cost is in the 2-5k range

seems like the others

profx

lacerte

ultratax

are more than that

so i got those 3 at the top

then proseries middle priced

then drake which is only around 1,500

and that's pretty much it

not sure about tax act

.......it's an oligopoly not too much competition; and now there will be even less

[Guest Taxed]

Jklcpa Does Drake allow you to override any entry on the forms. For example the DE state return that is being calculated incorrectly due to the oddball credit, can you override the figures with the correct figures calculated manually and STILL E-File.

I read somewhere that Drake does NOT allow any override of the figures it calculates??

[Guest Taxed]

Never mind, I should have read your entire post. The question about override and e-file is answered. So it is true that if you override Drake stops e-file.

[ari]

if you are getting killed with atx, you can switch to Drake

there are 3 main things to facilitate this

1. you can sign up for their $285 plan for 19 return to start out, as opposed to paying $1,500 to committ to unlimited use

2. if you have a question, call - they will answer your question immediately;noone else can do that for you right now

3. for individuals they have somewhat of a form based input and that will help out tremendously

- just hit control G - this is the most important info for your transition

I am going back and forth between ATX and Drake

Big returns I use on Drake b/c can't handle crashing

Small returns i use both

Ari

[jklcpa]

Never mind, I should have read your entire post. The question about override and e-file is answered. So it is true that if you override Drake stops e-file.

No, overriding does not stop an efile, but for some unexplained reason, it won't produce the credit form for DE if I override to correct the allocation between TP and SP.

[Randall]

I'll seriously consider changing. Now is not the time. May is not the time. I'll definitely NOT renew early (ATX). I'll continue with my extensions and check out some other programs to compare. The Drake price is consistent with ATX Total Tax.

[Guest Taxed]

I believe Drake will send you the 2012 version after April 15 for you to try and use it for extension filings. I am hoping to see a pricing war breakout between the vendors this year!

[jklcpa]

I'll seriously consider changing. Now is not the time. May is not the time. I'll definitely NOT renew early (ATX). I'll continue with my extensions and check out some other programs to compare. The Drake price is consistent with ATX Total Tax.

That is true, but in past years and including this year, loyal customers that renew Drake get a substantial discount on the following year's full-access program. I think that renewal price was around $1100 and might have been for an early renewal. That is a big difference. It also includes a website.

[clay]

You should be able to buy Pro Series for under $1300, guaranteed to stay at that price for 5 years.

That is just the 1040 and all states with pay per return for everything else.

[Maribeth]

So, with Drake, do they have 990's. I do a handful of nonprofits and will need those forms. Also, what about the depreciation? Do they have a separate depreciation module?

[RDennis]

I, too, wonder about the 990s. Also, how is the preparation of payroll and sales tax returns? I believe they are in a separate module. I wonder if they do have all or most of the state and city payroll and sales tax returns.

[jklcpa]

Yes, they have the 990 forms. After tax season if you request a copy of their program, you'll get the fully functional version and be able to see the forms available. You can use it to prepare returns to paper file, but I don't think you could efile without purchase and going through their setup. The payroll and 1099 informational returns are a separate module. I didn't purchase that since most of mine were already complete by the time I purchased in February, so I went with the PPR to minimize intial cash outlay to Drake since I'm still waiting for my ATX refund (approved and finally should be credited back to my cr card this week. Oy!).

I do know that with Drake's program, it files 941s and 1099s directly through the IRS FIRE system. I'm not familiar with that, but I checked and would have needed to sign up and wait for some sort of approval and user access for that system, and since those returns were mostly complete I chose another method to finish the 3 filings not yet efiled through ATX because I didn't need the hassle during tax season. I'm guessing that the FIRE system is a direct file upload. I'll check that out soon.

[RDennis]

Thanks, Judy, for the info. Don't know about the FIRE system, either.

[Maribeth]

Yes, thanks for the info. I do not know about the FIRE system either so I guess I will be learning after tax season.

[Eric]

Thanks for the comments. Right now with ATX, all I can think about is what Tom Cruise said in Top Gun, 'I feel the need for some speed'''.

This Tom Cruise quote from Top Gun might fit too:

Eject eject eject eject!

http://www.hark.com/clips/smqwrkjbxn-i-cant-reach-the-ejection-handle

[ari]

drake software comes with payroll taxes?

[jklcpa]

drake software comes with payroll taxes?

If you purchase their full program, not pay-per-return, it comes with the tax program, the client write-up, online research, the forum, some CPE, and you can set up your own website or portal. The write-up program is where the payroll and information returns are prepared. I haven't heard great things about that module for write-up work (iirc, someone said it was like making journal entries for everything), but the tax reporting part of the program is supposed to work well.

I can't say because I purchased the program on a pay-per-return basis for this season because I didn't need all of the full program in mid-Feb, didn't want to put out another $1500 up front while I'm still waiting for my ATX refund, but I might consider Drake's full program for next year.

http://www.drakesoftware.com/site/Products/PricingPurchasing.aspx

[Randall]

Eric, another Tom Cruise quote from Top Gun:

Talk to me Goose.