How much do you pay a professional to do your taxes? And what company?

Question

What do you need to provide them with prior to them filing taxes for you? Any information is helpful because this is my first time and Im clueless.

Answer 1

Professional tax prep fees for individuals can range from $35 for a 1040ez through H&R Block to several hundred dollars or more for handling complex self-employment and investment income including multiple cities and states.

If you are just a person with a job and maybe a house and a kid or two, it would probably be financially advantageous for you to purchase a program like TaxCut or TurboTax (price range: $19 to $60). This software installs on your computer and walks you through every step of preparing your taxes, even giving you lists of things you might have forgotten about. The less expensive versions simply prepare a straightforward Federal return; the more expensive versions prepare one or more state returns and/or include e-filing.

E-filing should be used by everyone, as should direct deposit into a bank account. Every tax form, whether preprinted or printed from one of these tax programs or downloaded from the IRS website, has a place at the bottom for entering your bank account and routing numbers. If you e-file with direct deposit, your return could be in your account in as little as a week. Another advantage to using a tax prep program is that it's easy to track submission and processing of your e-filed return. You will get an email confirming receipt by the IRS.

If this is your first time filing a tax return EVER, you should try to muddle through on your own - even if you later decide to use a program or a professional filer. You learn more this way, and retain more future control over your own life.

Finally, there is an organization called VITA (Volunteer Income Tax Assistance). It's government sponsored, and will answer questions and help you with your return. To qualify, you must earn less than $39,000 a year.

Good luck!

Answer 2

I am filing a joint return with my wife and the charge is $125.

I bring all W-2's , donation slips, interest earned from banks info, amount of interest paid on mortgage, receipts for tax deductible improvements to my house etc, and a blank check to use to pay for my tax preparers fee and so that he/she can use the routing # and acc't # off the bottom for direct deposit...which is a way faster method of getting your return than snail mail

Answer 3

I pay $360, but my guy is a tax attorney- which means everything I tell him is private, and if I get audited, he goes to the audit with or for me, and vigorously defends me.

They give you this packet thingy which tells you what to give them.

Answer 4

Get your W2 from your work, a interest statement from your bank and do it yourself on turbotax.