Drake Software blog for tax pros, covering tax, IRS news, and more
Designed for tax professionals, business owners, and engaged citizens, this guide breaks down the One Big Beautiful Bill Act's sweeping provisions into easy-to-follow sections.…
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As the demand for digital tax services grows, so do the risks associated with protecting sensitive client data. At the same time, AI is also being used to strengthen cybersecurity defenses. Learn more.…
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Save time during the busy filing season with a comprehensive tax reference guide for tax year 2025. It’s back— an updated desk reference guide to help make your life a little easier.…
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Explore key tax considerations for gig workers and freelancers, including who qualifies, deductions, estimated payments, and popular gig worker tax forms. Learn more.…
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As we gear up for the 2025 tax season, the Drake Tax Planner has been updated to reflect important provisions from the One Big Beautiful Bill Act, helping tax professionals quickly adapt and accurately model client scenarios. Learn more.…
Read more about 2025 Drake Tax® Planner: One Big Beautiful Bill Act Updates Unpacked
Two of the most widely used credits — the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC) — may offer significant opportunities to reduce a client’s federal income tax liability. This article provides an overview of these credits, including qualified expenses, income limits, institutional reporting requirements, and common filing issues — so you can better support your clients this back-to-school season and beyond.…
Read more about It’s Back-to-School Season: Help Clients with Tax Tips and Education Credits
Recently, one of our valued customers reported receiving a suspicious call from an unfamiliar number offering a "discounted" version of Drake Software. We want to make it absolutely clear: this offer was not legitimate.…
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Get your copy of The Smart Tax Pro’s Guide to Building and Marketing a Thriving PracticeAre you a tax professional looking to grow your client base, retain loyal customers, and make your firm stand…
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As tax professionals prepare for the 2025 filing season, staying up to date on changes to the Earned Income Credit (EIC) is essential—not just for compliance, but for maximizing client refunds and minimizing audit risk. The IRS has issued several adjustments for tax year 2024 (filed in 2025), affecting income thresholds, credit amounts, and due diligence requirements. Earned Income Credit updates, EIC 2025 tax season, EIC eligibility 2025, IRS EIC guidelines…
Read more about EIC Eligibility Updates: What Do Tax Professionals Need to Know
Cryptocurrency continues to raise questions for tax preparation clients, and 2025 brings even more complexity with new IRS guidance and reporting forms.…
