Drake Tax Software Overview - Full Detailed Demonstration [2023]

[@MrT6bill]

I love videos on Drake!

[@notsoboringcpa]

Thank you! I will make sure to record more!😊

[@MrT6bill]

They have a period starting around May or June when they offer a great discount for purchasing early.

[@notsoboringcpa]

great to know! Thanks for the info

[@danieljones304]

How hard is it to keep client's personal information safe when using Drake? I'm about to quit public accounting, but I'm thinking about doing just a few returns on the side, to keep halfway skilled at tax preparation. Will a premium antivirus do the job, or should I be looking at more sophisticated options? Sorry if that's a dumb questions, I'm just an accountant.

[@notsoboringcpa]

You have good point. Drake has a secure and safe client file exchange data like any other tax software. To secure your computer more you can install the VPN that also provides enencrypted data and yes antivirus is a good idea too.

[@TheOracleRealm]

@@notsoboringcpaalso, always encrypt your add or herd of the computer most importantly.

[@Hickory323]

I didn't see a K-1 under the forms. Is it just listed in a different place? And does drake do 1120s and 1065s? Thanks for the video

[@notsoboringcpa]

It's under Income section > K-1 entry K1 for Individual. And, for 1120s and 1065 it generates once you enter the shareholder info

[@KTaylor-u7e]

what if you have problems with the software do they have tech support?

[@notsoboringcpa]

Yes, there is a phone number under Support tab [phone]. They are super helpful and can also get access to the tax return to fix the issue. the wait is not long or no wait usually

[@JesusRodriguez-eg2ky]

Hey! Great introduction video on how to use Drake Software, do you think you can do for businesses S-Corp, C-Corp, Corporation?

[@notsoboringcpa]

Great suggestion! Thank you! I will do my best

[@RaicesRGL]

What do you think of TaxSlayer for the clients? Is my first year and I don't which tax software use.

[@notsoboringcpa]

I think TaxSlayer is okay. I would use it if you have very simple returns. If you get more complex client Drake tax, ATX, Proseries, Proconnect is better

[@tatyanalyssova2595]

help please can't add multiple 1099's on the same taxpayer

[@notsoboringcpa]

Press Page Down Key on the keyboard to add the new screen

[@mycreations2]

Hi! I'm a new tax preparer with my ptin and efin already, but haven't purchased tax software yet. I understand the IRS allows e-filing (by registered tax preparers only) of 2021 & 2022 taxes. Do you know if Drake 2023 PPR supports the filing of the two previous tax years or would I have to buy their 2022 software to e-file my clients 2022 taxes? thx!

[@notsoboringcpa]

HI and congrats on PTIN and EFIN! From my experience - you receive the access to prior year softwares as well but not sure if you can e-file. I had Drake year last 2 years as well so I can e-file 2022 and 2021. Maybe call them before purchasing to confirm to make sure. Good luck this tax season!

[@mycreations2]

Hi again! Just to follow up in case any of your viewers are interested, Stephen Drake from Drake Software emailed me back and said "Yes! We included 2022 when you purchase 2023! In fact, the 2022 filing is at no extra cost." So, I'm sold! Love your videos and thanks for what you do!

[@notsoboringcpa]

That is incredible! I would totally go for it! That's a great deal! Thanks for confirming@@mycreations2

[@huanli4381]

Hi I just use drake filed a 1065, I bought $349 drake, it says 59.99 for 1065, after I filed 1065, I did not know where to pay 59.99,can you tell me where to pay it. My 1065 has been accepted by IRS.

[@Joepiii]

Hi dear, I wanted to know if the Form 7216 required for a tax payer to sign that form?

[@notsoboringcpa]

I never seen it was requested to sign by tax preparation company. I think it's only applicable if you are planning to give the info to the third party like another advisory service. Google says" If you are offering any services in addition to tax preparation (Bank Products, Insurance, Investments, etc.), the IRC Section 7216 consent form must be signed by each taxpayer prior to you discussing these services or sharing any of their information with another party"

[@Joepiii]

Hi dear, do I have to register a business from the state if I will charge client for the tax preparation?

[@notsoboringcpa]

I would mention it to the client that the business is not registered with the state and it has to be and offer to do it for extra fee. You want to make sure that business is an good standing with the state when you acquire the new client as eventually the client will reach out to you when receives any kind of tax notices

[@adamnash1873]

Great video. I request to see Taxslayer Pro, if at all possible

[@Joepiii]

Hi dear, can you please make a video tutorial on how to apply for EFIN on IRS .

[@notsoboringcpa]

Sure! I will try to do it next week! Thanks for suggestion

[@Joepiii]

@@notsoboringcpa thank you, dear.

[@mythiicalb34st93]

Once you apply for your EFIN. Just pick transmitter, online filer and online provider. If you choose them all. They will give you a crappy EFIN that will begin in 10, 44 (I had this one) , and other 2 digit numbers that I can't remember. Just an FYI, it happened to me 2 years ago but the IRS will resolve the issue fairly quickly.

[@notsoboringcpa]

Thank you for sharing! @@mythiicalb34st93

[@izhardawer]

hello dear. i what is fee of enrolling in Tax traning of Drake? BTW i found you to be the best in exlaping drake.

[@notsoboringcpa]

Thank you so much for your kind words. I will try to record more videos here. As for the course, you can find all the information on my website remotecpainla.com. Let me know if you have any questions, and good luck!

[@sohailsyed2374]

In my opinion drake tax software is a nightmare for first time user. The shortcuts and functionality is so hidden that you are clueless until you really learn this first. Pro-series is the best one I’ve used. Drake is cheaper but you get what you pay for.

[@notsoboringcpa]

📋 Enroll In My Course - Individual and Business Tax Preparation Bootcamp training for CPAs, EAs and Tax Preparers : www.remotecpainla.com

[@huanli4381]

Hi I just use drake filed a 1065, I bought $349 drake, it says 59.99 for 1065, after I filed 1065, I did not know where to pay 59.99,can you tell me where to pay it. My 1065 has been accepted by IRS.

[@notsoboringcpa]

$349 already includes a few returns, you will need to pay after you use them.

[@queensgambit4982]

it looks like windows 1998

[@notsoboringcpa]

It makes it really easy to use