The tax season has arrived at the shores and it is time you prepare for the deductible & receivable. It is going to be a different year due to the pandemic and one needs to be complying with the slight changes in the rules this year.
With every major economy in the world under a hit, we must prepare well for the tax season. Businesses will be under pressure to file taxes accurately and the big corporation having a whole unit to do the job, while the SMBs need to burn their midnight oil due to limited resources.
The best way for all kinds of businesses to prepare for the tax season should be by adopting tools like Drake Tax Software. It is the kind of tool meant for small & medium-sized businesses to file tax returns in a secured manner. The software is meant to help tax preparers or businesses with every domain of tax filing conveniently.
It is time that businesses look for new technological advancements for improving the tax workflow the whole year. This will help reduce the pressure to a significantly low level during the tax season. It becomes hard to find an efficient tax professional in the season and thus, reliance on Drake will prove productive for the businesses.
Out of the many tax calculation tools, it has been evaluated that Drake is the most effective software of all. The CPAs like working on Drake as it has a simple interface and gets you the accurate tax calculation.
Let us look into the features & functionalities of Drake Tax Software in details so that you can have a better idea of tax filing & returns.
Drake Dashboard
It is the web-based feature that is enabling the tax preparers to evaluate the performance of businesses using pre-built charts & the relevant available data. The software is taking into account the KPIs of a business to look into business insights. The admin can set the goals, like target customers, average revenue per year, & yearly revenue.
Amortization
Easy calculation of loan amounts is possible with the creation of amortization schedules in the Drake software. Calculate the loan amount by filling the fields like loan amount & payment per year and then click on the ‘Calculate’ button. The software is providing you the options to set time-periods & print reports as needed.
Drake Tax Planner
The tax planning features are the most vital part of the software and it helps the tax preparers to plan the business’s present scenario or the expected scenario.
E-signature
The need for manual signatures can be eliminated with the help of Drake software. E-signature is the feature that is authorizing the taxpayer or the business owner. Enable the tax preparers to sign the tax form with help of e-signature & also prepare applications for e-filing tax returns with the digital signature.
Data Backup and Restore
The reports related to the client’s tax data are the most vital part of the tax process! Tax preparers can keep their tax data secure with help of the data backup & restore feature. There is the option of ‘Automatic Backup’ in the software and there is also the option of manual backup. The tax preparers can select the files to backup and there are available options to perform a selective backup.
Drake Scheduler
It is the feature that is helping businesses to make an appointment & add schedules for the business. Drake’s scheduler feature is also helping to send email appointments & also provides the option to import & export appointments for MS Outlook. The CPAs can generate batch appointments for their clients & create organizers.
The functionality of Drake Tax Software
It ensures tax filing anytime
The Drake software can be accessed easily on the handsets and it requires only the active internet connection for anytime tax filing. Thus, the CPAs & business owners can sit in their homes comfortably while filing the tax returns. You can even collect the accounting data & do the necessary changes as per the rules while traveling for a vacation trip.
Easy collaboration for meeting deadlines
The tax filing has a certain deadline and it needs to be filed accordingly. You can set the deadline on the Drake software and ensure collaboration between people for deadline work. The cloud hosting facility is allowing multiple users to work on a certain file simultaneously on a single file & complete the tax filing process within the deadline.
Secure the financial data
The tax calculations & filing process comprises a collection of documents & files that ultimately proves beneficial for the businesses. All the data are kept in a secured location & retrieved when needed. Multi-factor authentication and data encryption are the best things in securing financial data.
It proves to be a cost-saving option
Running of tax applications like Drake earlier used to cost a lot and also the application need to be installed in the official system. But the Drake app can be accessed any time using any device & Wi-Fi connection. CPAs don’t have to pay hugely on the monthly subscription & select the plan that suits your business needs.
Final Thought!
There are different kinds of tax applications or tools that can help you pay taxes correctly. CPAs can manage the tax workflow with tax calculation like Drake. You don’t have to be technically savvy to start using the tax tool.
It is the proven way to access the tax files & make taxation a simple process. The ability to collaborate between employees and the ability to integrate with third-party apps will help CPAs file the tax efficiently.
Businesses get the time to focus on their real work with infallible security & regular backups. Drake is the tax tool that should be installed instantly by the CPAs & business for the best business taxation.
You get all the features in the Drake software needed for tax filing & also the fulfillment of business needs.
With every major economy in the world under a hit, we must prepare well for the tax season. Businesses will be under pressure to file taxes accurately and the big corporation having a whole unit to do the job, while the SMBs need to burn their midnight oil due to limited resources.
The best way for all kinds of businesses to prepare for the tax season should be by adopting tools like Drake Tax Software. It is the kind of tool meant for small & medium-sized businesses to file tax returns in a secured manner. The software is meant to help tax preparers or businesses with every domain of tax filing conveniently.
It is time that businesses look for new technological advancements for improving the tax workflow the whole year. This will help reduce the pressure to a significantly low level during the tax season. It becomes hard to find an efficient tax professional in the season and thus, reliance on Drake will prove productive for the businesses.
Out of the many tax calculation tools, it has been evaluated that Drake is the most effective software of all. The CPAs like working on Drake as it has a simple interface and gets you the accurate tax calculation.
Let us look into the features & functionalities of Drake Tax Software in details so that you can have a better idea of tax filing & returns.
Drake Dashboard
It is the web-based feature that is enabling the tax preparers to evaluate the performance of businesses using pre-built charts & the relevant available data. The software is taking into account the KPIs of a business to look into business insights. The admin can set the goals, like target customers, average revenue per year, & yearly revenue.
Amortization
Easy calculation of loan amounts is possible with the creation of amortization schedules in the Drake software. Calculate the loan amount by filling the fields like loan amount & payment per year and then click on the ‘Calculate’ button. The software is providing you the options to set time-periods & print reports as needed.
Drake Tax Planner
The tax planning features are the most vital part of the software and it helps the tax preparers to plan the business’s present scenario or the expected scenario.
E-signature
The need for manual signatures can be eliminated with the help of Drake software. E-signature is the feature that is authorizing the taxpayer or the business owner. Enable the tax preparers to sign the tax form with help of e-signature & also prepare applications for e-filing tax returns with the digital signature.
Data Backup and Restore
The reports related to the client’s tax data are the most vital part of the tax process! Tax preparers can keep their tax data secure with help of the data backup & restore feature. There is the option of ‘Automatic Backup’ in the software and there is also the option of manual backup. The tax preparers can select the files to backup and there are available options to perform a selective backup.
Drake Scheduler
It is the feature that is helping businesses to make an appointment & add schedules for the business. Drake’s scheduler feature is also helping to send email appointments & also provides the option to import & export appointments for MS Outlook. The CPAs can generate batch appointments for their clients & create organizers.
The functionality of Drake Tax Software
It ensures tax filing anytime
The Drake software can be accessed easily on the handsets and it requires only the active internet connection for anytime tax filing. Thus, the CPAs & business owners can sit in their homes comfortably while filing the tax returns. You can even collect the accounting data & do the necessary changes as per the rules while traveling for a vacation trip.
Easy collaboration for meeting deadlines
The tax filing has a certain deadline and it needs to be filed accordingly. You can set the deadline on the Drake software and ensure collaboration between people for deadline work. The cloud hosting facility is allowing multiple users to work on a certain file simultaneously on a single file & complete the tax filing process within the deadline.
Secure the financial data
The tax calculations & filing process comprises a collection of documents & files that ultimately proves beneficial for the businesses. All the data are kept in a secured location & retrieved when needed. Multi-factor authentication and data encryption are the best things in securing financial data.
It proves to be a cost-saving option
Running of tax applications like Drake earlier used to cost a lot and also the application need to be installed in the official system. But the Drake app can be accessed any time using any device & Wi-Fi connection. CPAs don’t have to pay hugely on the monthly subscription & select the plan that suits your business needs.
Final Thought!
There are different kinds of tax applications or tools that can help you pay taxes correctly. CPAs can manage the tax workflow with tax calculation like Drake. You don’t have to be technically savvy to start using the tax tool.
It is the proven way to access the tax files & make taxation a simple process. The ability to collaborate between employees and the ability to integrate with third-party apps will help CPAs file the tax efficiently.
Businesses get the time to focus on their real work with infallible security & regular backups. Drake is the tax tool that should be installed instantly by the CPAs & business for the best business taxation.
You get all the features in the Drake software needed for tax filing & also the fulfillment of business needs.