Software for Entities

[erchess]

What software packages are there that only handle things other than a 1040, preferably on a pay per return basis. I know that I will have four S Corporations and if I understand correctly two Nonprofits and for sure a pair of gift tax returns next year.

Pay per Return of Drake can absoultely deliver what I need at a price I can accept but I'm still looking at possibly saving some money and one option I am looking at is Tax Act for 1040s and I don't know what for entities. Any and all opinions welcomed.

[Snaggletooth]

I doubt it

Erchess, I doubt that there would be ANY software companies who specialize in "entities" exclusively, without a 1040 involved.

If there were such, their 1120S, 1041, and 1065 packages which pass-through and contain such features as owners' basis the development would have to stop at the edge of the cliff if there were no 1040.

[JohnH]

I still think ATX is as good as it gets when you're evaluating the range of forms available vs total package cost. Of course that could all change at any time in the future, but for now my money is still on them.

[Burke]

I have to agree. I get the ATX Pro package (cost around $1K) and it covers 1120, 1120S, 1065, 1041, 990, etc as well as 1040 and all related forms, all 50 states and their forms incl sales taxes, etc. I do not do C-Corps so cannot rate it on that. More expensive packages may have more options on corps, but it has everything I need. I think they have a pay-per-return option feature, but I have never used it.

[AJsTax]

TaxAct Vs Drake

What software packages are there that only handle things other than a 1040, preferably on a pay per return basis. I know that I will have four S Corporations and if I understand correctly two Nonprofits and for sure a pair of gift tax returns next year.

Pay per Return of Drake can absoultely deliver what I need at a price I can accept but I'm still looking at possibly saving some money and one option I am looking at is Tax Act for 1040s and I don't know what for entities. Any and all opinions welcomed.

I swithced from Taxact to Drake to save money and to get a better program for MFS, etc. I started with the PPR and switched to full program this year due to numbers of returns. I was surprised how few it took to be better in Drake because of the way each charges for returns. Taxact sounds cheap until you add $11.55 (if I remember correctly) per return for efiling. That adds up.

[Lion]

Price

If price is a prime concern, then you've heard your alternatives. I still love my ProSystem fx where I buy only what I need, but it won't be in the same price range as ATX and others mentioned.

[erchess]

T Y

Thank you all.

[FEDUKE404]

Relative costs for TaxACT

I swithced from Taxact to Drake to save money and to get a better program for MFS, etc. I started with the PPR and switched to full program this year due to numbers of returns. I was surprised how few it took to be better in Drake because of the way each charges for returns. Taxact sounds cheap until you add $11.55 (if I remember correctly) per return for efiling. That adds up.

Drake is cheaper than TaxACT???

Some explanation is needed on their efile fees. For returns 1-25, the cost (US + one state) is $11.90 each. For returns 26-50, the cost is $8.90 each. For returns 51-100, the cost is $5.90 each. There is no cost for efiling returns 100+. Multi-state returns just add additional "state" charges within the same price grouping ($3.95 downward to $1.95 and then free.) They also offer unlimited efiling programs at $350 IRS and $150 states.

I think during promotions you can get even lower rates. In any case, their price structure is such that it can cover a broad range of business situations. I consider that a positive.

FE

[appelman]

If you're not doing 1041's...

you can get separate TaxAct modules for entities. If you want the ultimate El Cheapo for pay-per-return, look at taxsoftwareonline. (But they have very limited state coverage.)

[AJsTax]

Each person's situation is different.

Drake is cheaper than TaxACT???

Some explanation is needed on their efile fees. For returns 1-25, the cost (US + one state) is $11.90 each. For returns 26-50, the cost is $8.90 each. For returns 51-100, the cost is $5.90 each. There is no cost for efiling returns 100+. Multi-state returns just add additional "state" charges within the same price grouping ($3.95 downward to $1.95 and then free.) They also offer unlimited efiling programs at $350 IRS and $150 states.

I think during promotions you can get even lower rates. In any case, their price structure is such that it can cover a broad range of business situations. I consider that a positive.

FE

I was SOOO tired of all the problems I encountered with TaxAct, especially with MFS analysis and splits and often with downloads of efiles I went looking for a better overall package. I use Lacerte at the other office I work for, so I knew what that was like and cost.
When I did a price comparison it was quite evident that I could afford to go to Drake and get everything I need as I grow in one place. For example lets use 25 1040 returns as an example: In TaxAct you would have program cost of $129.00, need three states at $19.00 each and 25 efiles at 11.90 each. I have many MFS returns so those would each add another efile charge, lets say 5 at 11.90, or( if as you say 8.90 for over 25) : Total is $528.00. Not so cheap after all. When there were several returns that were paper filed that number was a lot different. Now we have to efile.
In Drake I can buy the PPR for $285 which covers 15 returns. 10 more purchased @19. totals out to $475.00. There was no extra charge for splitting and filing MFS. And if I need another module I can just switch to those and do them. At a lower per unit cost than having to buy each program.
So depending on your situation Drake can be less expensive and the program includes everything I need in one place.
I have now gone to the complete program and use the CWU to do payroll. Not the best program for that, but works.
I did use Taxact for several years and for some things it was just fine. I would never recommend it to someone doing for than a few returns or anyone with other entities to do.
This is ALL my own opinion and experience and in no way reflects on anyone else.

[Ross]

I have been using TaxAct to do 3 1065s and one 1120s for my day job for the past three years. I also use the 1040 version to do around 130 returns each year. I think it works fine for the entities and the price is very reasonable.

[FEDUKE404]

Vanilla and chocolate

I was SOOO tired of all the problems I encountered with TaxAct, especially with MFS analysis and splits and often with downloads of efiles I went looking for a better overall package. I use Lacerte at the other office I work for, so I knew what that was like and cost.
When I did a price comparison it was quite evident that I could afford to go to Drake and get everything I need as I grow in one place. For example lets use 25 1040 returns as an example: In TaxAct you would have program cost of $129.00, need three states at $19.00 each and 25 efiles at 11.90 each. I have many MFS returns so those would each add another efile charge, lets say 5 at 11.90, or( if as you say 8.90 for over 25) : Total is $528.00. Not so cheap after all. When there were several returns that were paper filed that number was a lot different. Now we have to efile.
In Drake I can buy the PPR for $285 which covers 15 returns. 10 more purchased @19. totals out to $475.00. There was no extra charge for splitting and filing MFS. And if I need another module I can just switch to those and do them. At a lower per unit cost than having to buy each program.
So depending on your situation Drake can be less expensive and the program includes everything I need in one place.
I have now gone to the complete program and use the CWU to do payroll. Not the best program for that, but works.
I did use Taxact for several years and for some things it was just fine. I would never recommend it to someone doing for than a few returns or anyone with other entities to do.
This is ALL my own opinion and experience and in no way reflects on anyone else.

Price is not everything, and of course everyone's personal tax needs differ.

I prepare very few MFS tax returns each year, so I cannot comment on any "what-if" scenarios. FWIW, TurboTax at one time had some extremely nice options in that area, but their available Pro packages and one-size-fits-all pricing structure (at the time) did not meet my needs or (more to the point) did not meet my budget.

You lost me in the curve re Drake efile pricing. It looks as if you are effectively paying $19 per return (US+state ?). While my practice is not large, it does involve far more than 25 tax returns and, barring unforeseen events, all of them have been efiled even before the IRS started its current arm-twisting. As for the MFS thing again, are you saying you can efile two tax returns (husband's MFS and wife's MFS) for a single efile cost? BOGO??? I seriously doubt that...

Personally I have never encountered "all the problems....with TaxACT" you mentioned (and the software has improved dramatically within the last few years).

Nor have I ever had issues with "downloads of efiles." I assume you mean uploads of completed files for submission?? Never has it taken me more than a few seconds to transmit any return via TaxACT. As for actual downloads (software/updates/state modules) they have gone smoothly, and I only have a mid-range DSL connection.

I'm not pushing any product line, and I imagine most folks on these boards have already been pestered enough within the last few weeks by aggressive software salesmen. Some people, including myself, have a certain degree of product loyalty so long as their current product reasonably meets their needs. Having gone through prior "transitions" from software A to software B, I know how troublesome and time-consuming that process can be. And, lest we forget, with any new software there is always a learning curve to make it operate properly - i.e. the perceived problems may not always lie within the software. Shades of RTFM can often become a relevant factor.

FE

[lenboush]

BOGO??? I seriously doubt that...
FE

You are correct. Drake is not BOGO. It is "BSGA". That's Buy Software, Get All. Simply put, Drake NEVER charges one penny for e-filing for any return of any type, nor for any other extras. With Drake anything and everything is included in the flat price. It includes unlimited e-filing, 1040's, all entities, all states, a write up module, a client status manager, a client scheduling program, a document manager program, a free website and a whole lot more. It has the best customer support I have ever seen with any company for any product of any kind. At least, 99.9% of the time you actually get a live, knowledgable, customer service person on the phone within 30 seconds! There is also a free user forum that is an amazing resource. All for one singe price. In the 10 years I have used Drake, I have never been charged one extra penny for anything whatsoever. And our office does about 1000 returns of all varieties per year. They did raise the price a couple of years ago from $995 to $1095 but that is the only price change in the 10 years.

Of course, as the previous poster mentioned, there is a pay per return version. That version is just as all inclusive as the full version. The only difference is how you pay for it. It is $19 per return with a minimum up front purchase of 15 returns. That's where the $285 comes in (15 X $19 = $285). If one prepares 58 or more returns, obviously one would be better off paying the $1095.

[dtlee]

Drake has an easy to comprehend pricing structure and is reasonably priced for what it offers.

I have seen the MFS offerings in other software including both TurboTax (I saved one client over $650 off what TurboTax computed using all of the same income and deduction amounts).

What is needed in some states additional information beyond what ProSeries (and TurboTax), TaxWorks, and Lacerte offer.

On the attached printout is the analysis that is provided by Drake for a test return I did. Please note that this couple owe $141 more on the federal if they file separately, but end up $559 better off overall between the federal and state. I seldom see any tax products even consider the state when they evaluate this. I

Drake allows you to adjust the dependents between the spouses, you you may need to run several combinations to identify when a particular scenario is best. Also, while quite reliable, you may want to later tweak the separate returns a bit beyond what is done automatically for you. The biggest benefit is once you have found the scenario you want to use, it is a mere click on the save button to create the two separate returns you have built. There are some things I would change/fix in this process, but I have found few processes in other products that even approach how well this works. I like the way TaxWorks builds their comparison sheet from the actual returns, but do not like the way it ignores any information from the state.

These returns can then be e-filed and I believe that Drake still considers the whole mess to be "a return" since it is really one client. In other software schemes, this could count as three federals and three states. I truly appreciate their approach to the business and how they view this.

[FEDUKE404]

Drake kudos

You are quite correct - Everything I have seen/heard about Drake is positive.

In fact, their business operations are reasonably nearby......

As I mentioned earlier, every person has his/her own needs and preferences. I simply do not need all of the bells and whistles (and commensurate minimum price) that Drake offers.

In a different universe, and at a younger age, and with additional training, and ........ well, things might well lead to another choice for me.

FE