TaxACT/Drake Software

TaxACT/Drake Software

The entity emerged from the success of two tax preparation software brands. TaxACT, founded in 1998, competes with TurboTax and H&R Block in the consumer e-file market. Drake Software, acquired around 2006, serves professional tax preparers with a practice management suite. The firms operate under a family office structure that governs both operating companies and the investment of accumulated profits. The entity invests through a conservative asset allocation that prioritizes capital preservation over aggressive growth. Its portfolio typically includes fixed-income securities, equities, and private investments, though exact allocations are not disclosed. The operating companies continue to generate cash flow from subscription renewals and add-on services like audit support and bank products. Geographic exposure is primarily North American. No team size, additional offices, or philanthropic vehicles are publicly associated with the firm. Recent operational events — such as product launches or acquisitions — are not documented in mainstream financial media. The entity has not registered with the SEC as a reporting adviser. A structural differentiator is the integration of active operating businesses with a private investment pool. The family office reinvests retained earnings from the software companies into diversified financial assets, while maintaining lean overhead. Succession and governance details remain private.