How Much Should You Pay For Your Tax Preparation?

The price you will pay for tax preparation services depends upon one thing: How complex your tax return is. The more complicated your return, the higher the price will be.

This is true whether your preparer charges a flat-rate, an hourly rate, or has a price for each tax form.For a relatively straightforward tax return (for income such as wages, interest, and dividends, and no itemization), expect to pay between $125 and $200. If you are self-employed, a landlord, or have brokerage trades to report, expect to pay between $200 and $450. If you claim the Earned Income Credit, expect to pay between $150 and $200 due to the complexity of the EIC tax form.

In my experience, retail and independent tax offices tend to charge about the same for tax preparation. It is advisable and wise to seek the services of either a CPA or an Enrolled Agent. Enrolled Agents are Federally licensed by the IRS in the specific area of taxation.

Your tax preparation fee should include electronic filing of your return, or extra copies of the return to file on paper, as well as a brief consultation before or after your taxes are prepared to discuss any concerns you have.

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