2016 Review of Drake Tax Planner

• Product is part of the Drake Tax Software product, so integration is built-in
• Product is offers an easy-to-use interface
• Product is available in desktop, hosted and online versions
• Product offers good help and support options 

Potential Limitations

• Only offers basic tax planning that is limited to two years of projections

From the Sept. 2016 review of Tax Planning systems.

Ideal for smaller firms that have less complex tax planning needs, Drake Tax Planner is part of Drake Tax Software, and is included at no additional charge, and offers a completely integrated tax preparation and planning system.

Basic System Functions: 4 Stars

Drake Tax Planner is accessed directly from the Tax Software applications. Users simply open an existing tax return to access the Tax Planner option, which can be found in the menu bar at the top of the screen. Once in Tax Planner, users can create a new tax scenario, open an existing scenario, remove a scenario, and compare scenarios. A video tutorial is also available for those unfamiliar with the tax planner.

Each tax planner is referred to as a scenario, with users able to name each scenario. Users can choose to create scenarios for two years, including the current tax year and the upcoming year. Once a scenario has been named, users can access the various options available to bring up a worksheet, where data can be entered.

Core Tax Planning Features: 4.75 Stars

Drake Tax Planner allows users to create multiple tax planning scenarios, with the ability to enter additional scenarios on the fly. Users can create a scenario from scratch, or simply copy an existing scenario, making adjustments along the way, such as adding dependents, selling a home, divorce, or death of a spouse. Once users have created a new scenario, they can easily add additional data to the appropriate screen. Although the original tax return is displayed on screen, and users can add and edit date to create scenarios, original tax data is not affected.

Once the changes are complete, users can simply click on the calculate button to view results. Clicking on the Compare icon will allow users to directly compare up to three scenarios, with the original return results displayed in the left column, and the other scenarios results displayed directly to the right. As a fully integrated system, all data created in client files will automatically be reflected in the Tax Planner, ensuring up-to-date information at all times.   

Reporting: 4 Stars

Drake Tax Software offers decent reporting options, though tax planning reporting is limited to printing the Tax Scenario Planning Comparison worksheet. All reports created in Drake Tax can be printed, or sent to clients as an email attachment. Reports can also be exported to Excel or a CSV file, and can be opened in Notepad as well. Users also have the option to send reports to the Document Manager function included in Drake Tax for easy storage and future access.

Integration / Import / Export: 4.25 Stars

A complete tax preparation system, Drake Tax Planning is completely integrated with the Drake Tax Software application. Users can also import data from third party applications directly into Drake Tax Software, and data can be exported to Excel and as a CSV file as well.

Help / Support: 5 Stars

Drake Tax Planning offers users easy access to help functionality directly from the tax planning interface, which also features a video tutorial as well. The e-Training center offers users access to a variety of tools, including online video tutorials, user manuals, and a searchable knowledgebase. Product updates are also available on the website, and be downloaded at any time. Product updates can be downloaded from Drake’s website at any time, Telephone support is available during regular business hours, with support costs including in the price of the product.

Summary & Pricing

Drake Tax Software, which includes Drake Tax Planner is available with three deployment options, Desktop, Hosted, on Online. Included in the price of Drake Tax Software, Drake Tax Planner offers users solid tax planning capability. Along with the tax planning option, Drake Tax Software also offers complete tax preparation, practice management, document management, and e-filing capability. Drake Tax Software is available for $1,295 and included Drake Tax Planner, as well as free online training and technical support. 

2016 Overall Rating: 4.5 Stars