Individual Tax Preparation

Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government’s General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a Professional Tax Preparer.

We help individuals file their tax return in all fifty states.

How much we charge?

Our fees are based on the complexity of your tax return. We have a posted fee schedule readily available to the public at all of our office.
In general, we:

  • charge a fixed price for each tax form and worksheet used in the preparation of your tax return
  • a per-item charge may be applied for certain items like stock sales and depreciation
  • do not charge for line items such as interest income, unemployment, and dependents

Examples of our fees for common types of returns are shown below.Our fees are generally form-based. For example, if your tax return includes Form 1040, Schedule A, and Oregon Form 40, we would charge a fixed price for each these forms.

Our fees are generally form-based. For example, if your tax return includes Form 1040, Schedule A, and New York Form IT-201, we would charge a fixed price for each these forms.

For the 2017 filing season, our fee for Form 1040 is $125, Schedule A is $54 and IT-201 is $39 for a total preparation fee of $218. Below is a table which outlines some of the most common tax return situations and our fees for preparing forms associated with these returns.

Tax Examples Forms Required Estimated Prices
Example 1: 1040EZ Short Form
W2 Income only, no dependents. Federal and New York State. Electronic filing. 1040EZ, New York IT-201 $169
Example 2: 1040 Short Form with dependents
No childcare expenses or Earned Income Credit. W2 Income only. Federal and New York State. 1040A, New York IT-201 $226
Example 3: 1040 Short Form with dependents & EIC.
W2 income only. No childcare expense. 1040A, EIC, 8867, New York IT-201 $294
Example 4: 1040 Short Form with dependents & college education expenses.
W2 income only. Federal and New York State. No EIC. 1040A, 8863, New York IT-201 $320
Example 5: Long Form 1040, itemized deductions with dependents
Income is from Wages, Unemployment, Pension, Social Security, Interest and Dividend income is less than $1,500. 1040, Sch A, New York IT-201 $350
Example 6: Stock and Investment income
All facts the same as example 5 except there is additional income reported for stock sales. Schedule D is $40. Then add $5 for each 8949 required and $3 for each sale reported. For this example assumes 5 long-term and 5 short-term sales to arrive at a price of $394. 1040, Sch A, Sch D, 2 x 8949, New York IT-201 Low $394
Alternative minimum tax and NIIT
If you are a higher income taxpayer, additional forms will be required if you are required to pay alternative minimum tax or the net investment income tax. High $650 -$1,000
Foreign investment or financial accounts Average $450-$600.
Investment accounts that fall under FATCA and/or FBAR filing requirements can trigger additional forms and typically add $70-200 to the preparation fees. High $650-$1,000
Example 7: Rental property
Same facts as for example 5; in addition to itemized deductions there is also income from a single rental property. Depreciation schedule shows 5 assets at $3 each. 1040, Sch A, Sch E, 4562, New York IT-201 Low $422 Average $450-600

High $650 – $900

Example 9: Self Employment/Business Income 1040, Schedule C, New York IT-201 Low $311
Long Form 1040 reporting income from Self-Employment. Price will vary according to complexity of the business return and other forms and schedules that are a part of the tax return. Please call our office for a price quote. Average $480 – $800

High $800 – $1,400

 

2017 Tax Intake Form

Pin It on Pinterest

Share This