Compare TaxWise and Drake Software - Oct 2022

Shlomi LaviShlomi Lavi / Oct 12, 2022

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Bottom Line: Which is Better - TaxWise or Drake Software?

Drake Software is more expensive to implement (TCO) than TaxWise, and Drake Software is rated higher (86/100) than TaxWise (85/100). TaxWise offers users more features (7) than Drake Software (3).

Looking for the right Business tax solution for your business? Buyers are primarily concerned about the real total cost of implementation (TCO), the full list of features, vendor reliability, user reviews, and the pros and cons. In this article we compare between the two software products:

CCH Small Firm Services. Vs. Drake Software

CCH Small Firm Services.: At CCH Small Firm Services, we focus on the needs of small tax and accounting firms—businesses that generally have five or fewer employees. We also serve commercial tax preparers, with one office or sometimes hundreds of offices, who offer tax services in a retail environment similar to well-known national tax chains. And for 11 years, SFS has prov...

Drake Software: For 37 years, Drake Software has provided tax professionals the tools they need to build their businesses and attract new clients. A steady focus on value, consistent excellence in federal and state programming, and free electronic filing makes Drake a smart choice for professional tax software.

Who is more expensive? TaxWise or Drake Software?

The real total cost of ownership (TCO) of Business tax software includes the software license, subscription fees, software training, customizations, hardware (if needed), maintenance and support and other related services. When calculating the TCO, it's important to add all of these ”hidden costs” as well. We prepared a TCO (Total Cost) calculator for TaxWise and Drake Software.

TaxWise price starts at $2,575 per license , On a scale between 1 to 10 TaxWise is rated 4, which is lower than the average cost of Business tax software. Drake Software price starts at $330 per year , When comparing Drake Software to its competitors, the software is rated 4 - lower than the average Business tax software cost.

Bottom line: TaxWise cost is around the same cost of Drake Software.

Which software includes more/better features?

We've compared TaxWise Vs. Drake Software based on some of the most important and required Business tax features.

TaxWise: Estate/Trust/Retirement, Income Tax Prep, Investment and Rental Property, Limited Liability Company (LLC), Partnership, Payroll/1099, Property Tax.

Drake Software: Data Import/Export, Basic Reports, Online Customer Support.

Target customer size

Taxwise is suitable both for companies with complex taxing processes, mainly multi-branch enterprises, as well as smaller scale companies that need a fast accounting solution that addresses their needs. and Drake Software's target customer size include: Medium and large size businesses.



TaxWise

ITQlick rating
(4.6/5)

starts at $2,575 per license

Tax needs and complexity vary for every company. TaxWise is designed to streamline the tax filing process, and save the company time and costs by boasting a fully customizable package that caters attend to your...

Categories: Accounting & Finance, Business tax.

Drake Software

ITQlick rating
(4.9/5)

starts at $330 per year

Drake software is a cloud-based and an on-premise professional tax management solution that is specifically made for small and medium-sized accounting firms. The solution enables the users to prepare any form o...

Categories: Business tax.

Compare specifications

Compare features

TaxWise: 7 Features

Estate/Trust/Retirement
Income Tax Prep
Investment and Rental Property
Limited Liability Company (LLC)
Partnership
Payroll/1099
Property Tax

Drake Software: 3 Features

Data Import/Export
Basic Reports
Online Customer Support
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick score ITQlick Score is a 1 to 100, the calculation is based on pricing, and functionality Vs. alternative solutions
Pricing score pricing Score is a 1 to 10 (10 is high cost), based on the TCO (cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
License pricing license pricing (if provided by the software vendor)
Functionality score
Software review
Compare
TaxWise
ITQlick rating
4.6/5
Score
85/100
Pricing
5.4/10
License pricing
$2,575 per license
Functionality
9
Compare
Drake So...
ITQlick rating
4.9/5
Score
86/100
Pricing
5.8/10
License pricing
$330 per year
Functionality
4
TurboTax
ITQlick rating
4/5
Score
94/100
Pricing
3.6/10
License pricing
$60 per license
Functionality
7
GainsKeeper
ITQlick rating
3.4/5
Score
92/100
Pricing
6.4/10
License pricing
$69 per month
Functionality
7
ezTaxReturn
ITQlick rating
3.8/5
Score
91/100
Pricing
6.6/10
License pricing
$19.95 per license
Functionality
10

Auditor - Shlomi Lavi

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Shlomi Lavi is an entrepreneur and founder of ITQlick.com. He holds a Bachelor of Science (B.Sc.) in Information Systems Engineering from Ben Gurion University in Israel. Shlomi brings 17 years of global IT and IS management experience as a consultant and implementation expert for small, medium and large-sized (global) companies. Shlomi’s goal is to share the best knowledge and news about information systems so you can make smarter buying decisions for your business.