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How much does professional tax prep typically cost?

Posted on 4/12/15 at 7:17 pm
Posted by Spankum
Miss-sippi
Member since Jan 2007
55940 posts
Posted on 4/12/15 at 7:17 pm
I am considering having a professional prepare my taxes to see how it compares to the software...

I have fairly simple taxes, but not 1040EZ, basically a few investments, mortgage, etc....

how much does this type of tax prep typically cost?
Posted by Kafka
I am the moral conscience of TD
Member since Jul 2007
141432 posts
Posted on 4/12/15 at 7:18 pm to
louisiana culture >>> taxes culture
Posted by FootballNostradamus
Member since Nov 2009
20509 posts
Posted on 4/12/15 at 7:20 pm to
Mine is $250 annually unless you got some insane shite they gotta do.
Posted by Croacka
Denham Springs
Member since Dec 2008
61441 posts
Posted on 4/12/15 at 7:20 pm to
if they are as simple as you imply, its probably a waste


that prep is pretty damned simple...not sure what a tax firm is gonna find that you don't already have
Posted by G The Tiger Fan
Member since Apr 2015
103367 posts
Posted on 4/12/15 at 7:21 pm to
About tree fiddy.

Is this joke still funny?
Posted by boosiebadazz
Member since Feb 2008
80114 posts
Posted on 4/12/15 at 7:24 pm to
I pay $200 for a CPA to do them.
Posted by 777Tiger
Member since Mar 2011
73856 posts
Posted on 4/12/15 at 7:25 pm to
do you even schedule bro?
Posted by Spankum
Miss-sippi
Member since Jan 2007
55940 posts
Posted on 4/12/15 at 7:27 pm to
quote:

if they are as simple as you imply, its probably a waste that prep is pretty damned simple...not sure what a tax firm is gonna find that you don't already have


not sure...I have just always wondered if they knew any "secrets" that the software didn't catch...

also, doing it with the software and e-filing is getting to be pretty damn pricey in itself, so I thought I would throw the question out to see if I am actually saving money by doing it myself...
Posted by yellowfin
Coastal Bar
Member since May 2006
97604 posts
Posted on 4/12/15 at 7:27 pm to
Basic return like that anywhere from $150 to $250
Posted by mikelbr
Baton Rouge
Member since Apr 2008
47456 posts
Posted on 4/12/15 at 7:29 pm to
quote:

pay $200 for a CPA to do them.

I pay a cpa $85. I have very simple taxes.
Posted by boosiebadazz
Member since Feb 2008
80114 posts
Posted on 4/12/15 at 7:30 pm to
Depends on how complex they are. You have any investment losses or interests in an LLC or partnership?

If you're simply wages and some deductions, I'd imagine the software could do a pretty good job.
Posted by boosiebadazz
Member since Feb 2008
80114 posts
Posted on 4/12/15 at 7:32 pm to
I still show a loss from some trust fund losses and I have an interest in an LLC we have that shows some losses.

It well worth the $200 to me.
Posted by DWaginHTown
Houston, TX
Member since Jan 2006
9851 posts
Posted on 4/12/15 at 7:34 pm to
TaxAct is free to file.
Posted by Rouge
Floston Paradise
Member since Oct 2004
136773 posts
Posted on 4/12/15 at 7:35 pm to
Hodor!!
Posted by Spankum
Miss-sippi
Member since Jan 2007
55940 posts
Posted on 4/12/15 at 7:43 pm to
quote:

Depends on how complex they are. You have any investment losses or interests in an LLC or partnership? If you're simply wages and some deductions, I'd imagine the software could do a pretty good job.


no investment losses or interest in LLC...basically just wages, a bunch of 1099 DIV and 1099 INT, and the normal deductions....
Posted by wfallstiger
Wichita Falls, Texas
Member since Jun 2006
11321 posts
Posted on 4/12/15 at 7:44 pm to
300.00....200.00 federal and 100.00 state

Worth it given the complexity
Posted by jordan21210
Member since Apr 2009
13377 posts
Posted on 4/12/15 at 7:44 pm to
If a few investments = a 1099-INT/DIV or two, maybe $250

If a few investments = a few 1099-CONS with decent amounts of activity, probably closer to $500

Posted by boosiebadazz
Member since Feb 2008
80114 posts
Posted on 4/12/15 at 7:47 pm to
I've always had the CPA do mine, but your arrangement seems like it would be fine for the software.
Posted by Jabstep
Member since Jul 2014
2130 posts
Posted on 4/12/15 at 7:53 pm to
This guy is likely only preparing exactly what you give him. It's hard for most firms to complete a return under $200 due to margins. Prime example, I had a client come into my office, this girl was married, owned a home and had a ton of unreimbursed business expenses. Prior cpa charged $90 dropped her w-2s in, took the standard deduction and called it a day. If I would've taken that approach, she easily would've owed 2k. Instead she had a refund of about $800 with about $500 charge for fees. Just be cautious of fees that low, he may be doing it 100% correct but that's really low for a cpa.
Posted by lsu480
Downtown Scottsdale
Member since Oct 2007
92876 posts
Posted on 4/12/15 at 7:55 pm to
for something simple like that its less than $500
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