Cost of a CPA?

Question

I really need to help of a CPA for upaid taxes for 2005/2006 1099's. How much does it normally cost to retain a CPA's help?

Answer 1

It will probably cost several hundred dollars at least. Cost will depend on where you are. Organize your info as much as possible before taking it to someone, since the more time they have to spend on it, the more you'll be charged.

If you have allowable deductible expenses against the 1099 income, be sure to have the receipts handy, and list them and total by category - the CPA would do that for you, but it'll cost for his/her time, so you can save by doing that much yourself.

Good luck.

Answer 2

This all depends on the complexity of your tax issues. It also depends where you are located and the type of CPA you go to. If you go to a larger CPA from a bigger name firm, expect to pay a larger amount as opposed to a one-manned office working by himself.

Please also clarify that you need help with your "1099's." These are forms that state the amount of dividends you received or social security. If you need help with your "1040", then that is your whole tax return.

If you leave more information like what actually is going to go on your tax return (ex- wages, interest, dividends, business income, capital gains, rental property, etc) and where you live then I would be able to better answer your question.

You're going to want to save up some money, because you're going to owing some penalties and interest ; )

Answer 3

I assume you mean 1040.

That depends on the billing rate of the CPA that you hire and the complexity of the job at hand. Also, geographic location has a lot to do with the billing rates.

For a project like yours, my basic fee would start at $500. From there on, the final fee would depend on how much time would be required to complete the returns and deal with IRS on the issues.