Software Values

[lenboush]

Pretty much everyone offers DIY software. Intuit (proseries, lacerte) of course has turbotax. CCH has complete tax. Drake has 1040.com. CrossLink has taxbrain.com. TaxSlayer has TaxSlayer.com. I'm not aware of any tax prep software that doesn't have it's hand at least partially in that cookie jar.

Drake is often championed as "not competing" with tax preparers with a DIY product, but you'll notice I did list 1040.com for Drake. You could argue based on a technicality that it's not really competing. Drake only gets 20% of the proceeds. The claim being they set up a website for you when you get their software that allows individuals to preparer their own tax return and they only take 20% of the profits.

The revenue Drake receives is shared in either or both of two ways. A preparer can refer a taxpayer from their own website (whether Drake set it up or you set up your own) and they get 80% of the revenue OR if they come from an undesignated site, Drake gives credit to every preparer until every preparer has had commission on one. Then they make another round until 80% of all the funds have been distributed to the tax professionals.

This is in context with Drake's commitment to NEVER compete with the tax professionals who are their base. On the other hand, they do have to stay with what the market is doing. They chose this route to do that and yet keep the tax pro as part of the process.

Do we get rich off of this process? Absolutely not. I only got credit for a couple last year and a couple this year. But I am pleased with their attitude about the whole thing.

[Snaggletooth]

I Like It

Guys & Gals, I can see how this could be interpreted as catering to the DIY crowd, but this is really not a bad arrangement.

We already have the software, and we do get something for our effort. Versus nothing for the other DIY packages so beloved by erstwhile know-everything crowd.

I think Drake is to be congratulated, rather than criticized for this, if I understand it correctly.

[Lion]

Multi-States

I love my ProSystem fx for multi-state returns. I have lots of NY commuters residing in CT. And, my own kids live in PA and work in both PA and NY. Pro handles the credits without me so much as checking a box! I buy it pay-per-return to not pay for more than I need. It's worth every penny to keep me error-free in my sleep-deprived state late in the season when those commuters come in.

[taxxcpa]

Drake 1040.com

I set up a web site using Drake's 1040.com this year, not to get do-it-yourselfers, but to get a free web site. I told all my clients about it. One of them asked if they should use it or let me do it. I told them "either way," but pointed out that using the web site was pretty tedious. She decided to let me do it.

It looks good to have a web site listed on your business cards. I don't know if anyone has used my web site to prepare a tax return, but over 1000 people have viewed the web site. I hope to get some non-DIY business through the web site eventually, but so far, it just provides something that looks good.

[lenboush]

I set up a web site using Drake's 1040.com this year, not to get do-it-yourselfers, but to get a free web site. I told all my clients about it. One of them asked if they should use it or let me do it. I told them "either way," but pointed out that using the web site was pretty tedious. She decided to let me do it.

It looks good to have a web site listed on your business cards. I don't know if anyone has used my web site to prepare a tax return, but over 1000 people have viewed the web site. I hope to get some non-DIY business through the web site eventually, but so far, it just provides something that looks good.

I have received quite a few new in office clients from the FREE Drake web site. There is a link to post for internet specials. I put in a $50 discount for any new client. It does bring in business. A lot of my current clients have also commented about what a nice web site it is. We have received over 8000 hits over the last year. In case anyone wants to see one example of what can be done with a FREE customizable Drake web site, you're welcome to look at mine. Keep in mind, others have done much better than mine, while others may not be quite as good. My web site is www.HeritageTax.com.

[peggysioux]

TaxSlayer Pro

I have used TaxSlayer Pro for two years now, and while the federal is good, I do not think that the information always flows smoothly to the state returns. And for both years, there have been program errors in the state side that I have caught and brought to their attention in late February. Kind of late to be finding major errors in programming. They correct quickly, but if you are in a crunch, it is comforting to know that the tax program is working correctly. I am considering changing this year to Drake after reading several of your comments.

[erchess]

Peggysioux

I demoed Tax Slayer the last time I looked at software alternatives and my feeling was that it wasn't even as good as the no longer available and much cheaper at the time Intellitax much less as good as Drake which was only slightly more expensive. As someone else suggested, get for free Drake for 2008 returns and try it out for yourself. I really think you will be impressed.