CPA Practice Advisor

APR 2016

Today's Technology for Tomorrow's Firm.

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PROFESSIONAL TAX PREPARATION SYSTEMS TRADITIONAL WORKFLOW BEST FIT TaxWise is ideal for small frms with mid- to high-volume levels of returns, including those with multiple ofce or temporary kiosk locations. An online version of the program is avail- able for 1040-only preparation, and the system also ofers all data entry and client documents in Spanish. STRENGTHS • English and Spanish language tax forms and documents • User-friendly screens and work- fow processes • Online version for frms prepar- ing only 1040s • Mu ltiple-of f ice ma nagement functions • Optional add-ons and bundles for integration points, many of which are included with the Power bundle SUMMARY & PRICING TaxWise provides a solid tax preparation platform for frms with diverse clients that may include individual taxation, multiple types of business entities, payroll clients, and those who are Spanish speak- ing. Te system is available in three primary versions, with TaxWise Online (starting at $249 for one user) providing a very convenient anytime/anywhere solution for 1040 and all-states preparation. Te TaxWise ProFiling Package, priced at $1,149, is also focused on 1040 and state tax preparation, and can be used by any number of staf in the same ofce. Te TaxWise Power Package is the most comprehensive, costing $2,549 and ofering 1040, 1041, 1065, 1120, 1120s, 706, 7090, 990 and 5500 preparation for any number of ofce staf, plus all states, along with integrated tax research and the Central Ofce Manager. www.CCHsfs.com WOLTERS KLUWER CCHSFS - TaxWise Read the full review and see expanded ratings for this product online at: www.CPAPracticeAdvisor.com/12192241 4.75 2016 OVERALL RATING Tax Research Books & Online Tax Research Find answers fast! www.thetaxbook.com | 866-919-5277 Voted #1 Tax & Accounting Research System 4 years in a row! 2014 READERS' CHOICE AWARDS 2015 READERS' CHOICE AWARDS 2016 READERS' CHOICE AWARDS 2013 READERS' CHOICE AWARDS BEST FIT Drake is best-suited to small and mid- sized practices with primarily 1040 clients, but also serves the business and tax needs of small businesses. STRENGTHS • System provides an all-inclusive ta x compliance system for all entities and states, plus tools for tax planning, analysis, write-up and document management • Optional tax document automa- tion utilities can digitize and organize scanned client source documents, and even populate tax returns with data • Drake now ofers online access to its full system via a hosted solution, and also ofers t wo fully web-based 1040 solutions, giv ing f irms the benef its of any where access and no system maintenance • Drake support consistently rated as best by users, with live, U.S.- based customer service SUMMARY & PRICING Drake Sofware is an excellent tax preparation and management system that includes practice management, document management and write-up tools, making the afordable system a good match for smaller frms or larger, 1040-focused practices that also want preparation capabilities for business entities. Te Unlimited version of Drake costs about $1,500 for any number of preparers in an ofce, and includes all tax capabili- ties, practice management, document management and client write-up modules. Te hosted version of Drake is as low as $50 per month for the frst user, and $40 per month for additional users. Drake also ofers hosted versions of Microsof Ofce. www.DrakeSoftware.com Drake Software - Drake Tax Read the full review and see expanded ratings for this product online at: www.CPAPracticeAdvisor.com/12192251 4.75 2016 OVERALL RATING

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