[Anonymous]

Whats the best tax preparation software from cost point of view if I want to prepare tax returns for a handful of people. I would appreciate a response and suggestions.

[Anonymous]

Drake is $300 for up to 15 returns, then $20 for each additional. Full package (unlimited returns) is $1495, but if you get up to that much at $15 per return, you can convert to unlimited (so you don't have to worry about if you get too many returns you'll end up paying $3000 instead of $1500). This covers state, federal, local if applicable, all of it. Drake is the only tax prep software I've used, so can't really compare it to any others, but is the cheapest made-for-paid-preparers that I've seen. (Like I know some people use TurboTax, but that's meant for individuals to use themselves, not for paid preparers to use.) I found it quite intuitive – I had no prior experience doing taxes and was quite comfortable using it my first (and only haha) season in taxes. They also have really good support – the only time we called and didn't get a live person on the phone within a couple rings was after hours on April 15th when the IRS eFile was down and everyone in the country was calling wondering why their returns were rejecting. But that was an IRS issue – my boss said usually even on April 15th you'd get a live person with answers within 3-5 rings.

https://drakesoftware.com/products/buy-or-renew-drake/

[leglock]

Thanks for that info lilla. You make alot of positive contributions to this forum

[Anonymous]

Aww thanks leglock. 🙂 Glad I can help out sometimes!

[Anonymous]

i second what he said, great contributions Lilla.

could you provide a lil more insight into Drake: can you view the forms before filing/printing? the horrible thing with turbotax is that it won't let you see the form… you just pump numbers into the input screen and it shows tax due/refund amount and thats it. the forms only show up for printing at the end and not during the info input process. horrible feature.

[Anonymous]

Yes. You are able to see the returns before completion. This is my first year using Drake and I like it so far. I've had to call for support and it was handled VERY quickly. I chose Drake not only because it was the cheapest option but I've heard so many great things about it from others who use it.

[Anonymous]

Yes – with Drake you can view any form at any time, and you can enter most info based on form number (like if you want to enter education credits, you type 8863 into the navigation bar. That's one thing I miss desperately when using TurboTax. 😐 Drake also gives you some diagnostics in form view of data which is required and missing, or not required but probably missing. Like if you have dependents listed, and based on their birthdates they're young but no worksheets filled out for any of the child-related tax credits, it will give a soft warning that you might want to fix that. But if you have a dependent listed without a social security number, it will give a hard warning that it won't be eligible for eFile till this error is corrected.

Drake also has features for things like computing MFJ vs MFS. Granted it's rare that a person is better off with MFS, but once you plug in all the couple's information (and appropriately flag everything for who it belongs to – her car taxes vs his; who has the student loan interest; etc.) you can push a single button and it will tell you which option is cheaper.

Drake supports corporations (C or S) and partnerships as well as individuals. Drake carries forward depreciation schedules from year to year. I know these are basic things for any software for preparers, but I doubt TurboTax does them. 😐

Man, talking about Drake almost makes me want to buy it just to do my own return and the couple I do for family. However, all the returns that I do are simple – like mine is a W-2 and standard deduction. No reason to buy a $300 software to do that. 😛 But I miss the functionality of Drake compared to TurboTax. Drake actually felt like I was preparing the taxes; TurboTax feels like I'm getting condescended to while being told how to tie my shoes. -.-

[alboreland]

Turbotax does let you see the forms before you file. You have to go to form view. I think there is an optoin somewhere in the menu bar.

[Tripin93]

I love CCH Axcess. We use this at my job, and it's cloud based. It allows you to view all of the government forms and it's easy to input data. If you aren't sure where to enter something for a tax form, you can view the tax form, click on the line, and it will redirect you to where to enter all of the information related to that in the software. They also have diagnostics to help you qualify for e-filing and it will notify you if you are missing something important. My coworkers who have been in practice for a while say that Wolters Kluwer has the “cadillac” of tax softwares (Wolters Kluwer makes CCH Axcess.) I'm not sure how much it costs, so I assume it's only cost effective if you are preparing a lot of returns. I know that EY and Deloitte use CCH Axcess, as well as a few local “mom and pop” tax firms.

Motivated by JC. I do it to make God proud.

FAR: 91 July 2015
AUD: 83 October 2015
REG: 81 January 2016
BEC: 83 February 2016

[Tripin93]

And @Lilla, I've always thought that too! You always have something insightful to say! When there's a lot of comments, sometimes I just skim and don't read everyone's comments. If I see your name, I stop and read your entire comment! FYI, I think you rock!

Motivated by JC. I do it to make God proud.

FAR: 91 July 2015
AUD: 83 October 2015
REG: 81 January 2016
BEC: 83 February 2016

[Anonymous]

Aww you guys are so sweet – thanks! It's been a rough couple days (something about going to work on 1 hour of sleep makes everything rough, haha), so all the kind comments have been very appreciated. 🙂

@alboreland and @eesti I think whether or not you can see the forms in TurboTax before print/file is a difference of whether you use the online or desktop version. Prior to last year, I always used the online version, and no form view was available till print/file (I think because you don't pay till print/file and they don't want to show any forms till you pay). So, you have to go through all the stupid questionnaires first, then if something needs correction go back through all the stupid questionnaires. Last year I got the desktop version for the first time (something I needed for the grandparents' return wasn't available online) and discovered the form view button, but forgot about it till alboreland mentioned it. Since TurboTax desktop supports up to 5 returns, and I do 3 usually (myself and a couple family members, all done for free), I've found it's a better deal for me to do the desktop version and it's a better product since I can actually view forms as I go along. So, for anyone looking for a product just to use for personal purposes, I'd recommend the desktop TurboTax over the online version.

[EverybodyswaitingfortheCPA]

Lilla – you answered one of my main questions- if anyone had experience using a desktop version of a tax software if a person is only preparing 5 or less returns, that is also economical.

If you prepare the returns for free, do you still sign with your PTIN or prepare them as if the family member were doing them? How do you go about splitting the Federal cost and the state filing fee?

Does anyone else recommend an economical and solid software provider for preparing only a handful of returns?

Thanks!

BEC - ✔ REG - ✔ AUD - ✔ FAR - ✔

Becker + NINJA MQCs for FAR

Licensed January 2015

[Anonymous]

@Everybodyswaiting TurboTax doesn't allow you to populate the preparer PTIN fields (or at least not that I have found); however, if you're a paid preparer, you're required to. This is part of how TurboTax is really just set up for individuals to do their own (or do them for free). I wasn't sure about whether or not you fill out the PTIN info if you're a “free” preparer, so I actually called the IRS and the lady pointed me to the publication which clarified. I don't remember what it was (have it written down somewhere, but not in front of me right now), but she pointed me to the publication, line, etc., which specified that the PTIN is supplied only for paid preparers. I don't think that means you'd be in trouble if you accidentally left it on for your parents' return and didn't charge them, but you're not required to supply your PTIN if you're not paid. So, since I'm not paid for any of the returns I do, and since I don't have a software that allows putting in a PTIN (or any reason to renew my PTIN, outside of the free returns I do), I don't put my PTIN on the free returns I do.

[EverybodyswaitingfortheCPA]

Lilla – thanks for the clarification regarding the PTIN.

Do you split the Federal and State filing fees between the returns you do file? Or do you eat the cost?

Does anyone else recommend an economical and solid software provider for preparing only a handful of returns?

BEC - ✔ REG - ✔ AUD - ✔ FAR - ✔

Becker + NINJA MQCs for FAR

Licensed January 2015

[payfields]

We use Proseries. I love the integration with QuickBooks.
We tried Drake a couple years back and felt it lacked functionality in some areas. The GUI wasn't quite as easy to use either.

[Author]

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