How Much Does it Cost To Have a CPA Prepare Your Income Tax Return?

How Much Does it Cost To Have a CPA Prepare Your Income Tax Return?

The answer, much like everything else in life, is it depends. Just like the people filing them, every income tax return is different. The Federal income tax return is the starting point but throw in one or more state and/or local municipality tax returns and even a simple project can begin to become complicated. If you are an independent contractor, work for several companies, itemize deductions, own a business or rental property, receive K-1’s or trade stock your income tax returns can be quite complex. 

A good CPA will have a broad knowledge base and a lot of experience in preparing all kinds of income tax returns. At our accounting firm in Columbus Ohio we price our tax return preparation fees based on a value model. In simple terms our CPA firm offers value to our clients by knowing all the deductions, adjustments, tax credits, forms and requirements needed to maximize refunds and minimize tax exposure. We charge a fixed price for the value of preparing income tax returns and providing professional consulting.

What does that mean in terms of dollars? Well, a “Big Box” Tax Return Preparation Firm will adequately prepare your taxes & probably try and up-sell you their own, in house products (Retirement Accounts, Refund Debit Cards, etc.) and charge you starting around $300 for a basic income tax return. A good CPA firm using value pricing will be able to prepare your income tax returns at a higher level of service with a price that reflects that service and the potential savings that comes with it. The price is presented to the client before the work begins, so you can choose the value of the services you receive.

As stated above, not all returns are the same so the pricing will vary. Basic services can be priced at $300 and complex returns can cost tens of thousands. Where does yours fall? The best way is to contact a CPA with experience in services and pricing. They should be able to offer you a value price for any situation.

Buckeye CPA  - Full Service CPA Firm in Columbus Ohio