Cost of tax preparation?
We have been going to the same accountant for tax preparation for more than a decade and each year the price increases. It seemed expensive (but worth it) at first, but this year the bill is $1575 (about twice what it started out at). I'm curious if this is in the normal range in the experience of other BPN'ers. We do not have super simple taxes - we have W-2s and 1099s, own a business, and have rental properties. But nothing complicated in terms of investments, no trust funds, no high net worth, etc. Thanks for any feedback.
Oct 13, 2023
Parent Replies
This year’s tax bill for us was $1075. I think our situation is somewhat similar— a mix of self employment and W-2, no high net worth or trust. We don’t have a rental property. We did have some inheritance this past year. I find this fee to be reasonable.
Hi that does sound high to me. We also have a mix of 1099 and W-2 for each of us and own an investment property (not rented), besides our home, so forms 1040 and 2 schedule C's, no high net worth or trust or inheritance. 2021 tax year was $600. Have not yet rec'd the bill for 2022. Usually increases $50 each year.
Howdy, if you're still seeking CPA tax prep cost info, here's mine: I am self-employed; itemize deductions; have rental property in another state, have some investment income.
For tax year 2022, my CPA charged me $1,100. My return is many many pages thick, and has numerous "Schedules" and tables; he files for Fed, CA, and Colorado.
Good luck, and best to you!