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What is a reasonable price to pay for tax filing preparation?

Posted on 4/11/14 at 12:01 am
Posted by euphemus
Member since Mar 2014
536 posts
Posted on 4/11/14 at 12:01 am
We are married filing jointly. I have always done our taxes all these years on Turbo Tax since ours was pretty straight forward with standard deductions. However we sold some stocks last year and also bought a new home last month (not sure if I can deduct the closing costs towards my 2013 taxes) and want to see if a CPA can help us get more in return or at least make us pay less, whatever the case may be.

If I do go to a CPA, is HR Block a good place? Who else would you recommend?
Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
73674 posts
Posted on 4/11/14 at 2:11 am to
We use an individual. Can sit down with her or just drop the taxes off. Usually we just write a short description of what went on, or spend about five minutes on the phone, and she handles the rest.

Have done this through stocks, mortgages, marriages and everything else. Also gives a good person to ask questions to throughout the year on potential moves that we may make as far as investments. Short term consequence questions (I don't practice blind faith in my financial advisor).

Only problem is, with 6 days to go good luck trying to get a quality CPA to take you on this year. I guess you could file for an extension though.
Posted by tdavi48
NA
Member since Mar 2012
606 posts
Posted on 4/11/14 at 11:41 am to
(no message)
This post was edited on 6/11/15 at 8:18 am
Posted by LSURussian
Member since Feb 2005
126960 posts
Posted on 4/11/14 at 11:55 am to
Bromide Johnson's Tax Preparation Service on N. 46th Street in Baton Rouge is the place to go. I had no idea I could deduct the cost of detergent I used for washing my underwear that I wear to work until I went to "The Bro" of taxes. He will even sign your name to the tax form if you're too busy to do it. Plus his fee is a percentage of the refund he gets you so he really works hard to get you the biggest refund possible.....
Posted by ell_13
Member since Apr 2013
84943 posts
Posted on 4/11/14 at 12:03 pm to
No one has answered the question yet.

Not that I have one. I've been able to do it myself so far.
Posted by Big Data
Scotch Fan
Member since Nov 2007
2553 posts
Posted on 4/11/14 at 12:10 pm to
We went through a family friend that owns a Jackson-Hewitt, and it was still $700 to do both Fed and State.
Posted by Poodlebrain
Way Right of Rex
Member since Jan 2004
19860 posts
Posted on 4/11/14 at 12:49 pm to
There are two methods of determining fees used by reputable tax preparers. The first is per diem billing based on the time it takes to prepare the return. The second is a flat fee per form or schedule that makes up part of the return.

Most CPA's use the per diem method, and the rates depend on the experience and location of the person doing the work.
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37024 posts
Posted on 4/11/14 at 1:48 pm to
quote:

Bromide Johnson's Tax Preparation Service on N. 46th Street in Baton Rouge is the place to go. I had no idea I could deduct the cost of detergent I used for washing my underwear that I wear to work until I went to "The Bro" of taxes. He will even sign your name to the tax form if you're too busy to do it. Plus his fee is a percentage of the refund he gets you so he really works hard to get you the biggest refund possible.....




To the OP, I don't think there are too many CPAs working at the Block (or any of the chain places).

Price is like anything else... depends on complexity. I think if that's all you have, 300 - 500 should do it. Smaller one-man CPA places charge less than firms.

You won't probably find a CPA at this point, unless you file for an extension.
Posted by PlanoPrivateer
Frisco, TX
Member since Jan 2004
2788 posts
Posted on 4/11/14 at 2:04 pm to
The lady I use charged $225.00 this year to prepare my wife's and mine. Included in that fee she prepares for the returns for two of my children. First, she is not a CPA but is an enrolled agent. Second, I’ve used her for years so she may be charging a slightly lower fee. And lastly, I have everything organized for her so she does not spend a lot of time searching through a single stack of papers. It takes her less than an hour to do. My wife and I spend some time chatting with her about things that happened last year and we expect next year. She is also available to answer emails if I have any questions during the year.
Posted by oldschoolgreats
Member since Nov 2012
1902 posts
Posted on 4/11/14 at 2:05 pm to
file an extension or you will get price goughed at this point. then, don't pay over $500 for your situation.
Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
73674 posts
Posted on 4/11/14 at 2:47 pm to
Damn, I must be getting a great deal at ~$100 a year. Situation is about the same as OP.
Posted by tdavi48
NA
Member since Mar 2012
606 posts
Posted on 4/11/14 at 4:46 pm to
(no message)
This post was edited on 6/11/15 at 8:17 am
Posted by 756
Member since Sep 2004
14853 posts
Posted on 4/11/14 at 4:50 pm to
Get Turbo tax small business and do it yourself
Posted by Kingwood Tiger
Katy, TX
Member since Jul 2005
14162 posts
Posted on 4/11/14 at 5:00 pm to
We use a cpa here in Houston, cost us $250
Posted by LSURussian
Member since Feb 2005
126960 posts
Posted on 4/11/14 at 5:01 pm to
quote:

I don't think there are too many CPAs working at the Block (or any of the chain places
Truth. They even hire history PhD's as their tax preparation experts.
Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
73674 posts
Posted on 4/11/14 at 5:18 pm to
I think DJs as well.
Posted by simonizer
no
Member since Oct 2008
1647 posts
Posted on 4/11/14 at 9:55 pm to
quote:

Bromide Johnson's Tax Preparation Service on N. 46th Street in Baton Rouge is the place to go. I had no idea I could deduct the cost of detergent I used for washing my underwear that I wear to work until I went to "The Bro" of taxes. He will even sign your name to the tax form if you're too busy to do it. Plus his fee is a percentage of the refund he gets you so he really works hard to get you the biggest refund possible.....



:LULZ
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 4/12/14 at 12:38 am to
quote:

If I do go to a CPA, is HR Block a good place?


They don't generally use CPA's, they hire people who basically don't know much and train them to deal with common situations. It sounds like your taxes are pretty simple so they might be worth a shot, but you aren't getting a CPA and probably don't need one for tax filings.

If you want advice for planning that's a different matter but you don't have to pay him to do your taxes, just pay for advice.

Oh, and you aren't getting any tax help this late in the game anyway unless you get an extension.
Posted by Bullfrog
Institutionalized but Unevaluated
Member since Jul 2010
56166 posts
Posted on 4/12/14 at 12:04 pm to
$250-$500 if you're working with a reputable place that stands behind their work, continually educates their people and are available year round.

If you start having rental properties, schedule K's and small business revenue, that will go up.

ETA: I would expect them to answer general tax questions for you throughout the year at no extra charge.
This post was edited on 4/12/14 at 12:06 pm
Posted by Tigerntx
NOLA
Member since Jul 2011
1309 posts
Posted on 4/13/14 at 4:43 pm to
With the TD discount, it "might" get to $ 200 if all is what you present - my son & I are in NOLA, but we have clients in 32 states
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