JJStephens Posted April 28, 2013 Report Share Posted April 28, 2013 Like many of you, I've looked at Drake several times over the past 10 years or so. Twice I was on the verge of making the leap. Both times I backed out on one single, deal-killing point. The vast majority of my non-tax work is with non-profits. I MUST have Forms 990 and 1023 (each year I do a boatload of 990s and a couple dozen 1023s). As I recall, the first time I looked at Drake (about ten years ago) they did not have either form available but were working on adding the 990. About 5 years ago I checked again; the 990 had been added but not the 1023. At that time I had conversations with Warren and Phil Drake about my need for From 1023. Phil told me they would look into adding it and Warren later told me that he was aware they were working on it. I just downloaded the demo. I see the 990 but not the 1023. Further, I can't find anything on their web site that indicates they offer it. Does anyone out there with Drake experience know if they have 1023 support? Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted April 28, 2013 Report Share Posted April 28, 2013 Besides the form 990 and 1023 issue, did you find the software satisfactory or better than the competitors in terms of accuracy? Would you use it for Sch C, Sch F, Sch E, form 1065 and form 1041? Do you have any reservations on those? The depreciation module (or screens) did not show an option to create a depreciation report with current and future depreciation amounts. Unless i missed that completely. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted April 28, 2013 Report Share Posted April 28, 2013 The depreciation module (or screens) did not show an option to create a depreciation report with current and future depreciation amounts. Unless i missed that completely. Next year's depreciation report is automatically generated and shows up when viewing the return. That form will print with the client and preparer copies, or that single report can be printed by itself. Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted April 28, 2013 Report Share Posted April 28, 2013 Thanks. I guess I have to run some more sample returns all the way. I am so used to the grid format from Taxworks asset manager! Quote Link to comment Share on other sites More sharing options...
JJStephens Posted May 1, 2013 Author Report Share Posted May 1, 2013 Besides the form 990 and 1023 issue, did you find the software satisfactory or better than the competitors in terms of accuracy? Would you use it for Sch C, Sch F, Sch E, form 1065 and form 1041? Do you have any reservations on those? The depreciation module (or screens) did not show an option to create a depreciation report with current and future depreciation amounts. Unless i missed that completely. Frankly, I didn't have time to play with it much. I was mainly looking to see if the 990 and 1023 was present. I did do a handful of returns using the demo several years ago. At that time, form based entry wasn't available. Having cut my teeth on form based, I was somewhat put off by that, but many on this board (or was it the old ATX board?) assured me I would get used to it. I'd have to say that some others on this board who are using it or who are evaluating it heavily would be a better source of info. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted May 1, 2013 Report Share Posted May 1, 2013 Besides the form 990 and 1023 issue, did you find the software satisfactory or better than the competitors in terms of accuracy? Would you use it for Sch C, Sch F, Sch E, form 1065 and form 1041? Do you have any reservations on those? The depreciation module (or screens) did not show an option to create a depreciation report with current and future depreciation amounts. Unless i missed that completely. Taxed, I don't have any Sch F returns, but I prepared all of these others in Drake this year without a hitch. The program worked well for me. I only had one return that I took exception to, and that was a Delaware return with historic preservation credit carryover from prior years. The proper amount of the credit was calculated, but it wasn't split and applied properly against the tax on a joint return. I e-filed that federal and filed that state return on paper. Quote Link to comment Share on other sites More sharing options...
JohnH Posted May 1, 2013 Report Share Posted May 1, 2013 Frankly, I didn't have time to play with it much. I was mainly looking to see if the 990 and 1023 was present. I did do a handful of returns using the demo several years ago. At that time, form based entry wasn't available. Having cut my teeth on form based, I was somewhat put off by that, but many on this board (or was it the old ATX board?) assured me I would get used to it. I'd have to say that some others on this board who are using it or who are evaluating it heavily would be a better source of info.I wouldn't have said this until I made the plunge into Drake, but after making that move I learned something about speed. Forms-based input is vastly overrated and it actually slows you down. It's appealing because it is intutive and simple, but it is very inefficient. Since inefficiency costs money, it turns out that forms-based entry is also a more expensive way to work. When I evaluate my backup for Drake, I think I will probably rule out ATX in part because it is forms-based. The only reason I might consider it as a backup is just because I'm familiar with it - more or less like an old pair of comfortable shoes. Quote Link to comment Share on other sites More sharing options...
Randall Posted May 1, 2013 Report Share Posted May 1, 2013 JohnH, I'm leaning that way too. That is, speed. I'm just tired of waiting on the pauses after what seem to be simple entries. As for backup, I have to consider cost. I think I'll have to purchase one of the forms services to have certain forms available. But as for a whole 2nd program, I'll probably have to go with one of the low end, low cost, limited programs. Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted May 1, 2013 Report Share Posted May 1, 2013 For those of us used to form based entry it is a slight learning curve, but once you get used to the screen based entry after mastering the short cuts, it is actually quicker. I timed myself on a simple 1040 with Sch A and C. (My own return). I wish Drake had a peek window where you could see the actual return as it was being completed. I believe to see the return you have to run calculate and then view. May be there is a quick way I just don't know? Does anyone know what language Drake is written and what database engine it is using. I have a hunch it may be visual basic or visual C and Microsoft access database? Quote Link to comment Share on other sites More sharing options...
jklcpa Posted May 1, 2013 Report Share Posted May 1, 2013 Taxed, you can set your preference to calculate automatically when you click on "view" and when you close. That bypasses the need to calc first. Actually I think that is the default. Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted May 4, 2013 Report Share Posted May 4, 2013 What do you think of Taxbooks as a research tool? Is it adequate? I believe the price is $89 through Drake. There is a plus version with case law, commentary etc. but that is not available on the Drake platform? Quote Link to comment Share on other sites More sharing options...
jklcpa Posted May 4, 2013 Report Share Posted May 4, 2013 Taxed, I didn't have that because I was on PPR with Drake for this year. JohnH, did you have the Taxbooks research? I'd like to know about this too. Quote Link to comment Share on other sites More sharing options...
JohnH Posted May 4, 2013 Report Share Posted May 4, 2013 I've used the TaxBook for a very long time. I switched to them from QuickFinder about 5-6 years ago - maybe longer. The Taxbook satisfies almost all my needs, and they have an excellent forum as well. 1 Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted May 4, 2013 Report Share Posted May 4, 2013 Do you use the paper version or the web version? Are there any deals on that? Quote Link to comment Share on other sites More sharing options...
JohnH Posted May 4, 2013 Report Share Posted May 4, 2013 I just use the paper version. Haven't tried the web version, but I understand it's handy based on what people are saying on their forum. For me, sometimes I just like to hold a book in my hand to look something up. (Some old habits die hard) I might get more interested if they develop something for the iPad, though. I had already purchased the Tax Book back in October 2012 before I decided to abandon ATX and go with Drake in January 2013, so no deals were available to me. I'll be figuring out the pricing during May, but I assume it will save some money since I'm bundling The Tax Book with Drake this year. For the first time in my life, I'm thinking about taking the early purchase discount on my tax software since I'm convinced I'll be using Drake next year. 1 Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted May 4, 2013 Report Share Posted May 4, 2013 Spoke to Drake rep and they have not decided which version of Web based Taxbooks they will offer for 2013 and the pricing. For 2012 they had the basic web version of Taxbooks and the cost was $89 for Drake users. I think the direct price from Taxbooks for the same was $129. There is the plus version that offers case law, IRS regs etc. I think it is $150 more and there is a possibility Drake may offer that at a discounted price TBD. I can see value in both a paper based and web based version. There are times when you are NOT in from of your computer and you want to look up something real quick. I still get JL Lassers each year just for that! Like you I am begining to get more confidence with Drake given the state of disarray with other vendors. Quote Link to comment Share on other sites More sharing options...
joanmcq Posted May 4, 2013 Report Share Posted May 4, 2013 I may be in the process of switching back to Quickfinder from The Tax Book. Reason? Their ProReview platform which I tried this year for the All States QF, a tablet version I have on my iPad. Last year I tried the CD of the Tax Book, and don't like it near as much as the tablet. The tablet works intuitively like a paper copy does. Ok, this is thread drift. But I love ProReview! Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted May 5, 2013 Report Share Posted May 5, 2013 I used to get RIA on CD and for some reason I always had issues using the program on the CD and and the same time my tax software running. Since then I have stayed away from CD based tax research programs. Are you running your Ipad with ProReview and tax prepsoftware at the same time? Quote Link to comment Share on other sites More sharing options...
joanmcq Posted May 5, 2013 Report Share Posted May 5, 2013 No, I have the tax prep on my desktop. But the iPad worked well to research on the web, as well as the ProReview and surf here while waiting for the print manager to load. didn't tie up system resources either. Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted May 5, 2013 Report Share Posted May 5, 2013 "didn't tie up system resources either." Excellent point! I guess i will have to buy an Ipad now? 1 Quote Link to comment Share on other sites More sharing options...
joanmcq Posted May 7, 2013 Report Share Posted May 7, 2013 I'm using the iPad now, since my assistant is doing data entry on my desktop. Having the biz software helps to justify biz use too. Quote Link to comment Share on other sites More sharing options...
JohnH Posted May 8, 2013 Report Share Posted May 8, 2013 Hard to justify not having an ipad these day, isn't it? 2 Quote Link to comment Share on other sites More sharing options...
jklcpa Posted May 10, 2013 Report Share Posted May 10, 2013 I posted a lot of notes that I took at the Drake seminar this morning and that post is located in the Drake subforum found under "other vendor" so I won't repost here. The one thing for those of you evaluating or purchasing this summer: the company offers a full refund up until the initial program's release that comes out around Thanksgiving. The other thing is that this year for anyone that purchased on a PPR basis, the program won't be unlocked to unlimited use until 10/25/13. Here's a link to the other thread: 1 Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted May 10, 2013 Report Share Posted May 10, 2013 Thank you jklcpa. This is good info. The closest seminar for me is 150 miles away! Quote Link to comment Share on other sites More sharing options...
JohnH Posted May 10, 2013 Report Share Posted May 10, 2013 I thought the info about the "PowerBasic" compiler in the other thread was interesting. Like you, I don't know exactly what all that means, but it apparently indicates that someone was mistaken in one of the things we've heard stated repeatedly on this forum. Sounds to me as though Drake will not have to go through a platform conversion at some point in the near future after all, along with all the associated risks. 1 Quote Link to comment Share on other sites More sharing options...
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