online accountantQuickBooks Certified ProAdviserThe small business accountant
Tony Novak, MBA, MT, Certified Public Accountant
(610) 572-1724   onlineadviser@live.com   @tonynovak



   

Tax prep fees for 2013

Author's note: This information is reported for reference and comparison purposes only. I do not follow this fee schedule when preparing income tax returns.

The most recent annual survey by the National Association of Accountants reports that tax preparation fees will be about 5% higher than a year ago. Although the survey did not cite a reason for the increase, it coincides with a period of economic growth following the recession when fees grew at a slower pace. The fees listed below are national average fees charged by both CPA and non-CPA accountant. Fees in the northeast region of the United States (PA and NJ) are about 5% higher than national averages.

Form 1040 with standard deductions and state return $151

Form 1040 with Schedule A and a state tax return $261

Schedule C (business) $218

Form 1065 (partnership) $590

Form 1120 (corporation) $806

Form 1120S (S corporation) $761

Form 1041 (fiduciary) $497

Form 990 (tax exempt) $667

Form 940 (Federal unemployment) $63

Schedule D (gains and losses) $142

Schedule E (rental) $165

Schedule F (farm) $196.

The surveyed rates include the fees for both the federal and state tax return preparation.

Keep in mind that tax preparers generally charge less for returning customers and a bit more for new customers, however the pricing difference typically does not fully make up for the difference in work required for a first time client. Also, consider that the best way to reduce tax preparation fees is to have good electronic records of the year's transactions that can be imported into tax preparation software. The accountant can then focus on the more important job of making sure the return is properly presented for the lowest legitimate tax due.

View Tony Novak, CPA, MBA, MT's profile on LinkedIn


Have an unresolved  tax question or financial concern?
Schedule a $80 flat fee initial consult discussion/second opinion that includes a written follow-up summary and recommendations.

Member of New Jersey Society of Certified Public AccountantsThis Web site is independently owned and operated by Tony Novak operating under the trademarks "Freedom Benefits", "OnlineAdviser" and "OnlineNavigator". Opinions expressed are the sole responsibility of the author and do not represent the opinion of any other person, company or entity mentioned. Tony Novak is not a representative, agent, broker, producer or navigator for any securities broker dealer firm, federal or state health insurance marketplace or qualified health plan carrier. Novak is compensated as an accountant, adviser, writer, consultant, marketer, reviewer, endorser, producer, lead generator or referrer to the commercial companies listed on this site or non-governmental commercial insurance exchanges. Information is from sources believed to be reliable but cannot be guaranteed. Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues or a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. Novak would be pleased to perform the requisite research and provide you with a detailed, written analysis at your request. Such an engagement would be subject to an engagement letter that would define the scope and limits of the desired consultation services.

Tony Novak  |  P.O. Box 333  Newport NJ 08345  |  141 Jones Street Bala Cynwyd PA 19004