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How much do accountants charge to prepare federal and state taxes?

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jmt111

Junior Member
NJ

What would I expect to pay an accountant to prepare my federal and state taxes? My income includes wages, a side business, IRAs, and a couple other sources of income. I have various deductions, including charitable contributions. I would characterize my taxes as having medium complexity.
 


Taxing Matters

Overtaxed Member
NJ

What would I expect to pay an accountant to prepare my federal and state taxes? My income includes wages, a side business, IRAs, and a couple other sources of income. I have various deductions, including charitable contributions. I would characterize my taxes as having medium complexity.
Call a few and ask. It'll vary from place to place and vary depending on the qualifications of the preparer, etc.
 

FlyingRon

Senior Member
I never used to begrudge my accountant DH for doing my returns. Of course, until last year her fees were tax deductible.
 

LdiJ

Senior Member
NJ

What would I expect to pay an accountant to prepare my federal and state taxes? My income includes wages, a side business, IRAs, and a couple other sources of income. I have various deductions, including charitable contributions. I would characterize my taxes as having medium complexity.
A lot of places will charge a fee by the forms necessary to complete the return and the due diligence risk associated with each form. It sounds like your return would tend to use quite a few forms. (its hard to tell for sure when you say "a couple of other sources of income").
 

jmt111

Junior Member
Can anyone even offer a general range of what it might cost? Currently, I am paying about $120 using TurboTax and want to get a sense of what it would cost if I got a professional to do it for me?

Would the cost be different if I signed the forms, thereby releasing the accountant from risk?
 

quincy

Senior Member
Can anyone even offer a general range of what it might cost? Currently, I am paying about $120 using TurboTax and want to get a sense of what it would cost if I got a professional to do it for me?

Would the cost be different if I signed the forms, thereby releasing the accountant from risk?
Here is a link to the National Society of Accountants with cost information (a drawback: No indication of the date this was published):
 

davew9128

Junior Member
Can anyone even offer a general range of what it might cost? Currently, I am paying about $120 using TurboTax and want to get a sense of what it would cost if I got a professional to do it for me?

Would the cost be different if I signed the forms, thereby releasing the accountant from risk?
Professional rules of conduct do not absolve a return preparer of liability by not signing when they significantly prepared the return. Stop trying to gimmick the system. Either hire someone and pay them or do not.
 

adjusterjack

Senior Member
Can anyone even offer a general range of what it might cost?
A couple of years ago my friend paid about $800 to have his taxes done. He had the 1040, Sched A, Sched C, Capital Gains from stock, and some K-1 partnership income. YMMV.

Currently, I am paying about $120 using TurboTax
You've shattered my illusions. :eek: I believed the guy on TV who said TurboTax is free. Do TV ads lie? ;)
 

LdiJ

Senior Member
There's always that fine print that flashes in the bottom corner of the screen that says "simple returns only" or something similar that no one ever really sees. :rolleyes:
And no state return included...

We get an unbelievable number of people calling us for quotes on a state return because they didn't bother to file at all because it wasn't free on TurboTax...and now the state is after them, big time. I have found that the states are nastier than the IRS if you haven't filed a return.
 
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