Tax preparation services are available for current or previous tax years. Tax prep can be done for individuals, couples filing jointly or for a business. People with children or dependents, renters, self-employed and contract workers, homeowners, stock owners, rental property owners, and those who paid out-of-pocket medical fees can all get assistance from professional tax preparation.
Some tax preparation companies offer set rates based on which filing bracket the client falls into—meaning regardless of the specifics, each person in the same bracket pays the same fee. JRG Taxes offers the following four-tier flat rate pricing that includes joint tax returns, small businesses, rental properties and e-filing:
Taxpayers filing only a W2 tax form: $50
Taxpayers filing a W2 and a couple additional tax forms such 1099-INT and 1098-E: $150
Taxpayers with several tax forms and one or two additional considerations such as a rental property, investment transactions, K-1 income, 1099-MISC or a simple small business: $225
Taxpayers with multiple activities (rentals, K-1 income, small business, etc.), several stock transactions and more: $395
Tax professionals may charge an additional fee for filing a client’s state income tax; others may include the state income tax filing fee in their total quote. JRG Taxes charges an additional $50 fee per state filed for personal tax returns and $100 per state for business tax returns.
Some tax preparation firms offer a sliding scale based on which forms will be filed and the complexity of the tax work to be done. For example, Plano Tax Prep charges anywhere from $150 to $350 for personal tax returns, and JRG Taxes has a starting rate of $225 for basic business tax returns, which increases as the complexity of the job increases as well as for certain types of businesses.
Areas with a higher cost of living may result in a higher average rate for tax preparation work.
Tax preparation companies may charge a premium for rush work requested under the tax deadline. Planning ahead is one way to reduce potential additional fees.