A trusted name for anyone involved in tax preparation, Drake tax software provides a range of features and tools that help to streamline the entire process associated with tax returns, particularly for accounting professionals.

Many accounting firms who choose to save time and money through outsourcing, can reap the rewards of tax software such as that provided by Drake, without having to invest in it themselves.

If your accounting firm wishes to outsource tax preparation, and take advantage of Drake tax software at the same time, here is a brief guide to the benefits of both:

Drake tax software explained

As a tool designed to assist professionals tasked with preparing accurate personal or business taxes in an efficient manner while remaining consistently compliant with all federal and state regulations, Drake tax software offers the complete package.

Here are some of its key features:

  • Tax return preparation

From individual tax returns (Form 1040) and corporate returns (Form 1120), to estate and trust returns (Form 706) and corporates (Form 1120), Drake enables the simple preparation of a variety of tax returns.

  • Cloud-based access

With easy access to their tax files from wherever they may be, cloud-based Drake tax software enables team members to collaborate without any restrictions.

  • Tax planning software

This software also has tools for planning taxes, so that professional tax preparers can better plan their clients future tax obligations.

  • Pay-per-return pricing

For those accounting firms wishing only to pay for the tax returns they have processed, pay-per-return pricing from Drake tax software is ideal.

Why should accounting firms outsource their tax requirements?

Having become an increasingly popular solution for stretched and stressed CPAs and tax preparers during tax season, outsourced tax preparation often gives accounting firms the benefit of such tax software as Drake, without them having had to invest in it themselves.

Here are some ways in which accounting firms can benefit from outsourced tax preparation:

  • Time-saving and increased efficiency – it’s often a time consuming process to prepare taxes, whether a clients needs are complex or otherwise, but by outsourcing, a lot of time can be saved, and accountants can be more efficient.
  • Improving accuracy and compliance – tax filing should always be as accurate as possible, and tax regulations should be adhered to at all times. With help from expert tax preparers, accounting firms can make sure that errors are minimized and the risk of penalties owing to non-compliance, significantly reduced.
  • Gaining unlimited access to tax experts – by choosing to work with an outsourcing service partner experienced in Drake Tax Software, accountants can get the most out of its many tools and features, and provide their clients with an outstanding level of service.
  • Reducing costs – when compared to the cost of hiring temporary or permanent accounting professionals, outsourcing offers a highly cost-effective and convenient alternative for accounting firms that are small or medium in size.

Enhancing security – tax preparation outsourcing services can access data related to taxes in a secure manner using Drake tax software, making collaborating simple and safe.

For any accounting firm struggling with everyday tasks, or trying to cope with an influx of work and clients during tax season, outsourcing to a third party using Drake tax software, makes for a cost-effective, secure and convenient solution.