by Tony Novak, CPA, MBA, MT revised October 10, 2015
(These fees are for 2014 tax returns. Rates for 2015 tax returns are not yet established. See the Sample tax sevice agreement for more information on details of service anticipated in a standard tax service engagement).
This chart lists standard fees that may be negotiated higher or lower depending on your specific situation. If the fee is negotiated, then the rate will be confirmed in writing. Factors that may increase the rate include missing records, initial setup of tax records and accounting required to complete the return. Factors that may decrease the rate include repeat customers and multiple returns in one family. Rates may be lower for tax return services offered by a non-CPA preparer.
Regional industry average tax preparation fees are published here.
The rate for a flat fee tax consultation is $300.
The rate for amendments and audit representations are individually calculated and agreed in writing in advance of the engagement.
Basic individual tax return Form 1040A, Affordable Care Act compliant, e-file: $ 95
Individual tax return Form 1040 with standard deductions, Affordable Care Act compliant, e-file, and one state tax return: $195
Schedule A (itemized deductions), Schedule D (Investments), Schedule E (Rental properties, Form 8962 or 8965 (ACA compliance exemption or with individual mandate penalty): $85 per form
Schedule EIC (Earned Income Credit): $145
Additional state tax return: $30 per state
Schedule C (unincorporated business): $195
Form 1065 (partnership): $695
Form 1120 (corporation) or Form 1120S (S corporation): $895
Form 1041 (fiduciary) $595
Form 990 (tax exempt): $795
Form 940 (Federal unemployment): $85
Opinions expressed are the solely those of the author and do not represent the position of any other person, company or entity mentioned in the article. Information is from sources believed to be reliable but cannot be guaranteed. Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues or a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. Tony Novak operates as an independent adviser under the trademarks "Freedom Benefits", "OnlineAdviser" and "OnlineNavigator" but is not a representative, agent, broker, producer or navigator for any securities broker dealer firm, federal or state health insurance marketplace or qualified health plan carrier. He has no financial position in any stocks mentioned. Novak does work as an accountant, agent, adviser, writer, consultant, marketer, reviewer, endorser, producer, lead generator or referrer to other companies including the companies listed in the articles on this web site.