How Much Does Tax Preparation Cost?
The cost of tax preparation varies depending on the complexity and length of the tax return. Although there is no set price for tax preparation, tax preparers tend to charge more for completing corporate returns and returns that contain schedule forms.
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Hourly Rate
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Most tax professionals charge a flat fee, but some preparers charge an hourly rate. According to the National Society of Accountants, the average hourly rate for a tax preparer is $120.
Flat Fee
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The average flat fee for a tax professional is $115, according to the National Society of Tax Accountants.
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Schedules
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If filing just a simple Form 1040, 1040A or 1040EZ isn't sufficient and the taxpayer needs to include additional schedules (such as Schedules A, B, C etc.), the tax preparation fee could rise to around $200.
Amended Returns
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The fee for filing an original return does not include the cost of filing an amended return. Additional fees will be assessed for making changes to the original return.
Tax Preparation Firms
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According to a recent survey by the National Society of Tax Preparers, the average fee for two of the most popular tax firms is $187. Keep in mind that this survey of tax firms did not differentiate between returns filed with and without additional schedules.
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References
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Comments
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There could be a number of reasons, Teena, which could range from not claiming all the deductions to which you are entitiled to having the wrong withholding amount on your wages. You should get the advice of a capable tax advisor. Incidently, I acutally have a well to do lady client who resides in Alabama. Roll Tide roll!
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I hate tax season. I have not seen a refund since college. WHY!
