Drake Software launches Drake Workflow for tax automation

Some tax notice software is designed as an add-on or seems incomplete. You end up managing notices in terms that do not match how your jurisdictions are defined. You spend time adjusting workflows instead of resolving issues. And worst of all, your team becomes dependent on outside support just to make small changes. Configurability lets tax teams work the way they need to. It improves accuracy, speeds up resolution, and puts control to make adjustments in the hands of the team, where it belongs. The right system does not just support your work. It should speak your language. #TaxNoticeCompliance https://hubs.la/Q03PvNyY0

#AcquisitionUpdate | Tax Systems acquires AI vendor Loctax Tax Systems, a global provider of tax and accounting software, announced the acquisition of Loctax, a leading provider of collaborative, AI-driven tax, compliance, risk, and governance solutions for global in-house tax teams. The acquisition is a strategic step for Tax Systems in its ambition to become EMEA's leading SaaS tax compliance platform. Loctax brings its AI-powered tax control centre to the Tax Systems portfolio, offering automation of compliance processes, centralized data management, and cross-jurisdictional oversight for tax teams. Loctax’s platform, which monitors filings, deadlines, workflows, and reporting with embedded AI agents, will complement Tax Systems’ offerings to provide an integrated, end-to-end platform. The integration aims to give tax teams enhanced control, visibility, and secure management of all tax obligations and data in a single platform. Loctax will continue to operate under its own brand as “a Tax Systems company” during the transition, retaining operational continuity for existing customers. Bruce Martin, CEO of Tax Systems, emphasized that the acquisition will make their offering more comprehensive, enabling customers to manage tax obligations more confidently and efficiently. Stevi Frooninckx, CEO of Loctax, highlighted that joining Tax Systems enables deeper integration with core tax engines for improved oversight on global tax processes, such as Pillar Two or tax provisioning. #LegalTech #everythingLegalTech #AI #LawandAI #LegalTechUpdates

Real AI prompts being used today to find tax notice software. “Compare tax notice management software for private equity firms.” “Need demo for entity-level compliance tracking.” “What is the best system for reducing audit penalties?” These buyers want a tool that does more than manage notices. They want a platform that improves how tax work gets done across jurisdictions. It highlights that configurability is essential and not an unrealistic demand. If you are comparing systems today, this post will help. #TaxNoticeSoftware https://hubs.la/Q03PvQx-0

Tax operations are not static. Entities change and the reality is jurisdictions evolve and filing requirements shift. We think your platform should move with you. We wrote about how modern tax teams use configurable platforms to keep pace, from updating notice types in real time to adapting workflows as organizational structures change. Agility is not only about speed. It is about being able to respond without rebuilding the system each time. If your software cannot move with you, it will hold you back. #TaxOperationsTechnology https://hubs.la/Q03PvCn70

R&D Tax Credit Software - Monthly Ranking Awards - Oct 2025 R&D Tax Credit Software automates the identification, documentation and calculation of qualifying research activities and expenses, integrating with financial and project data systems to streamline compliance, maximize eligible claims, and reduce audit risk through detailed traceability, real-time analytics, and regulatory alignment across jurisdictions. Platforms are rapidly embedding real-time audit readiness using ML/NLP to flag anomalies, generate technical narratives and maintain ticket-level supporting documentation, enabling businesses to defend claims more proactively. The expansion of “income-based relief” or “patent box” style schemes, plus refundable or cash-first credit models and quarterly refund pilots, is forcing software tools to track R&D outcomes by income, as well as to segregate credit calculation by jurisdiction, IP ownership, and commercialization phases. The taxtech500 Monthly Ranking results are based on monthly engagement to provide a dynamic snapshot of the market. This approach ensures that both emerging startups and established vendors have equal opportunity to stand out. At the end of each month, the #1 product in every category is awarded a digital badge, prominently displayed on its listing page and featured on the taxtech500 homepage. Please note that the designation of the actual market leading vendors is based on a more comprehensive assessment of vendor specific factors and customer type. Current standings – October 2025 | R&D Tax Credit Software | Ending in 21 days 1. TaxRobot - AI Powered R&D Tax Software | 54 points | Activated Features 14/175 2. MASSIE R&D Tax Credits - MASSIE R&D Tax Credits | 35 points | Activated Features 17/175 3. Instead - AI Powered R&D Tax Credit Software | 66 points 4. Claimer - Claimer | 40 points 5. RDvault - R&D Tax Creditss - RD Vault R&D Solution | 35 points 6. Neo.Tax - R&D Platform | 25 points 7. Tax Cloud - R&D Tax Credit Tool | 21 points 8. GOAT.tax - R&D Tax Credit Platform | 17 points 🔗 See the complete monthly list for this category here: https://lnkd.in/dCEt5Xdf #taxsoftware #taxtechnology #taxtech #taxcreditsoftware #taxtools #taxtransformation #taxtechcommunity #taxtools #indirecttax #vatcompliance #salestax #einvoicing #DigitalCompliance #IndirectTaxClarus Clarus R+D Gusto Exactera

Tax preparation automation with Zapier cuts processing time by 40%, reduces manual errors by 85%, and saves firms 260+ hours annually per staff member. Automated workflows sync client data across QuickBooks, Xero, and tax software while eliminating 90% of manual document handling and delivering 3x faster client turnaround times.

🚨 SOFTWARE DEVELOPMENT TAX TREATMENT: What Changed Under New Rules If your business develops or purchases software, understanding these distinctions could save you significant tax dollars. The Section 174 fix dramatically changed how software development costs are treated—but not all software expenses are created equal. Key Distinctions: SOFTWARE DEVELOPMENT SPACES (Buildings): ❌ NOT eligible for 100% bonus depreciation Even if part of manufacturing facility, must be segregated Strategy: Physically separate dev spaces from production to maximize QPP benefits on production areas DOMESTIC SOFTWARE R&D COSTS: ✅ Immediately deductible (2025 forward) ✅ Small businesses can amend 2022-2024 returns for retroactive recovery Applies to software tied to product/process innovation FOREIGN SOFTWARE DEVELOPMENT: ❌ Still 15-year amortization (no change) Software Expense Quick Reference: Off-the-Shelf Purchase: • Section 179 eligible (up to $2.5M limit) • Immediate expensing available Custom Software Development (Domestic): • Immediate expensing (2025+) • Section 174 fix applies • Retroactive recovery for small businesses Custom Software Development (Foreign): • 15-year amortization • No change under new rules SaaS Subscriptions: • Current deduction • Already favorable treatment continues Licensed Software: • 36-month amortization • No change Action Items: 1. Segregate software dev spaces from production areas in facility planning 2. Identify domestic vs. foreign software development costs 3. Review 2022-2024 software R&D for retroactive recovery 4. Optimize Section 179 for off-the-shelf purchases The nuances matter—proper classification can mean the difference between immediate deductions and multi-year amortization. Need help optimizing your software expense strategy? 👉 Schedule your free consultation: https://lnkd.in/gecHZVR2 Or call (214) 728-9501 #TaxStrategy #SoftwareDevelopment #Section174 #TechTax #RnD #Manufacturing

🚨 SOFTWARE DEVELOPMENT TAX TREATMENT: What Changed Under New Rules If your business develops or purchases software, understanding these distinctions could save you significant tax dollars. The Section 174 fix dramatically changed how software development costs are treated—but not all software expenses are created equal. Key Distinctions: SOFTWARE DEVELOPMENT SPACES (Buildings): ❌ NOT eligible for 100% bonus depreciation Even if part of manufacturing facility, must be segregated Strategy: Physically separate dev spaces from production to maximize QPP benefits on production areas DOMESTIC SOFTWARE R&D COSTS: ✅ Immediately deductible (2025 forward) ✅ Small businesses can amend 2022-2024 returns for retroactive recovery Applies to software tied to product/process innovation FOREIGN SOFTWARE DEVELOPMENT: ❌ Still 15-year amortization (no change) Software Expense Quick Reference: Off-the-Shelf Purchase: • Section 179 eligible (up to $2.5M limit) • Immediate expensing available Custom Software Development (Domestic): • Immediate expensing (2025+) • Section 174 fix applies • Retroactive recovery for small businesses Custom Software Development (Foreign): • 15-year amortization • No change under new rules SaaS Subscriptions: • Current deduction • Already favorable treatment continues Licensed Software: • 36-month amortization • No change Action Items: 1. Segregate software dev spaces from production areas in facility planning 2. Identify domestic vs. foreign software development costs 3. Review 2022-2024 software R&D for retroactive recovery 4. Optimize Section 179 for off-the-shelf purchases The nuances matter—proper classification can mean the difference between immediate deductions and multi-year amortization. Need help optimizing your software expense strategy? 👉 Schedule your free consultation: https://lnkd.in/gRUMc4Dg Or call (214) 728-9501 #TaxStrategy #SoftwareDevelopment #Section174 #TechTax #RnD #Manufacturing

Here's some real AI prompt research done for Tax Notice Software. “Find tax notice software with automated alerts.” “Compare providers for enterprise business needs.” “Look for multi-location tracking.” Real prompts used by tax and finance professionals and each one points to the same issue: teams are searching for platforms that actually reflect how they operate. This is not just about features. It's about whether your platform supports the structure, language, and workflows your team currently uses. Not something that forces you to bend to its limits. We feel this is why configurability is not optional. It is the baseline. #TaxCompliance https://hubs.la/Q03PvK940

There was a time when Tax Professionals used to wait for Tax Magazines to read updates and latest case laws. Earlier Magazines were usually monthly later they became weekly. Then these magazines started sending emails with head notes. After reading head notes on email there was a drop in reading of magazines. Later, with the launch of e-tax softwares renewal of tax magazines reduced drastically. I don't have any data on this but it's a general observation as I have seen people not renewing their tax magazine but switching to e-tax softwares. These e-tax software companies increased their ROI with e-tax software. They never reduced the price but instead made more money with switch from tax magazine to e-tax software. All big brands basic module is reasonably priced but what about their premium plans? All big e-tax libraries are culprit. Few e-tax case law libraries premium plans are in range of ₹50,000+ p.a. Now with AI there is a need for reduction in prices of these subscriptions but the things are going in reverse direction. In the name of AI and drafting software they are coming with a price hike. This is ridiculous as AI works same. Small new start ups AI are good.. Their search engine searches original copies and you can download the same. I'm not suggesting generic AI but use of Specialised AI meant for search and draft purposes for legal work. There are many startups AI which can save your hours and help you in litigation but use those softwares only that give copy of original judgment. This is necessary to avoid hallucinations. Old e-tax cases libraries need to reduce their price else the normal tax Professional will feel cheated. Premium plans are nothing but access to those case laws that are never relevant for us. Except rare cases; Civil cases judgment, criminal cases judgment, pre independence judgment, privacy council judgements etc are not useful. I have shared my view; which could be totally incorrect also. I welcome all contrary remarks or comments on this issue. Thanks for reaching such a long post.