how much do you pay to have your taxes prepared by a professional? what is a fair price?

Question

I know this is not a timely question, but this year my taxes are going to be a little more complicated and I just want to know what others are paying for their taxes. thanks for your input.

Answer 1

well if you want your taxes done right you need a cpa. Honestly my step dad is a CPA so I don't have to pay but I used to work at a bank and lemme tell ya, you mess with the IRS and don't do you things right, they don't hesitate to do a levy on your account and take what they need because of an error on your taxes.

Answer 2

When you say "a little more complicated" do you mean you bought and sold stocks, or started a business of your own, or had a new baby, or will itemize where you took the standard deduction before? What you mean by complicated makes a big difference in the cost. And whether you mean a CPA, or someone like H&R Block (most of their preparers are not professionals) also makes a difference. And your location also can made a major difference. And do you have a state return also, or just federal?

If you'll give a little more detail you'll probably get better answers. Otherwise, the answer would be from around $50 to several hundred, or maybe more if you have your own business - that's too wide a range to help you much.

Answer 3

Hello,

I work for a public accounting firm on individual taxes, so I can't give you an amount that a small CPA firm or H&R block would charge, however, I know for sure that H&R block (and most other CPA firms) will charge by the schedule. So add schedule B and C and E..etc. etc. it gets more expensive. If by complicated you mean you sold shares of stock or had self-employment expenses, these are pretty normal..I'd say complicated would be a foreign earned income exclusion on form 2555 of foreign tax credit, Farm Income, Rental Properties (maybe.)

I'm sorry I can't provide you with a specific amount! Good luck.