Tax Prep Pricing Guide

Individual tax preparation pricing is based on the National Society of Accountants annual survey of over 8,000 preparers nationwide.

The average price for a tax return in 2013 (for the fiscal year 2012) was $261. The estimated average based on past increases was $277 for 2014.

The average cost for an individual taxpayer’s return 2015 is expected to be approximately $293.

It is important to understand that every tax return is different. The forms necessary to complete your tax return may vary from year to year as your situation changes. For that reason, final pricing is always subject to a client’s individual situation and the complexity of their return.

Simple Individual Tax Return
Form 1040-EZ $75
Standard Deduction free
State $50
E-file free
Total $125

Typical Individual Tax Return
Form 1040 $125
Schedule A $60
Other minor forms
(child care, cap gains, etc)
$50
State $50
E-file free
Total $285

Typical Sole Proprietor Return
Form 1040 $125
Schedule A $60
Schedule C $125
Form 4562 Depreciation $30
Form 8829 Business Use of Home $30
Other minor forms
(child care, cap gains, estimated tax,
self-employment, etc)
$75
State $50
E-file free
Total $495

Tax Preparation Schedule of Fees by Form
Rates Effective January 1, 2017

Form Title Price Description
706 Estate (and Generation-Skipping Transfer) Tax Return Varies per hour
940 Employers Annual Federal Unemployment Tax Return $50 per form
941 Employers Quarterly Federal Tax Return $50 per form
944 Employers Annual Federal Tax Return $50 per form
945 Annual Return of Withheld Federal Income Tax $50 per form
990 Tax Exempt Organization $700 minimum *

1040 U.S. Individual Income Tax Return $125 per form
1040 Schedule A Itemized Deductions $60 per form
1040 Schedule B Interest and Ordinary Dividends $5 per item
1040 Schedule C Profit or Loss from Business (Sole Proprietorship) $125 per business

1040 Schedule D Capital Gains and Losses $10 per item ($25 minimum)
1040 Schedule E (pg 1) Supplemental Income and Loss (Page 1 Rental Properties) $100 per rental **

1040 Schedule E (pg 2) Supplemental Income and Loss (Page 2 Partnerships/S Corps) $25 per form

1040 Schedule EIC Earned Income Credit $50 per form
1040 Schedule F Profit or Loss From Farming $125 per form **
1040 Schedule H Household Employment Taxes (Nanny Tax) $40 per form

1040 Schedule R Credit for the Elderly or the Disabled $25 per form
1040 Schedule SE Self-Employment Tax $25 per form
1040-A U.S. Individual Income Tax Return $125 per form
1040-ES Estimated Tax for Individuals $35 per form
1040-EZ Return for Single and Joint Filers With No Dependents $75 per form

1040-X Amended U.S. Individual Income Tax Return $150 per form
1041 U.S. Income Tax Return for Estates and Trusts $550 minimum *
1045 Application for Tentative Refund $200 per form
1065 U.S. Return of Partnership Income $675 minimum *
1096 Annual Summary and Transmittal of U.S. Info Returns $50 per form
1099 Miscellaneous Income $7 per contractor
1116 Foreign Tax Credit (Individual, Estate, or Trust) $40 per form
1118 Foreign Tax Credit (Corporation) $50 per form

1120 U.S. Corporation Income Tax Return $900 minimum *
1120-S U.S. Income Tax Return for an S Corporation $850 minimum *

2106 Employee Business Expense $40 per form
2106-EZ Employee Business Expense (Short Form) $20 per form
2210 Underpayment of Estimated Tax $30 per form
2441 Child and Dependent Care Expense $25 per form
2555 Foreign Earned Income $75 per form
3800 General Business Credit $40 per form

3903 Moving Expenses $30 per form
4136 Credit for Federal Tax Paid on Fuels $25 per form
4137 Tax on Unreported Tips $20 per form
4562 Depreciation and Amortization $10 per item ($30 minimum)
4684 Casualties and Thefts $50 per casualty/theft
4797 Sale of Business Property $50 per item
4835 Farm Rental Income and Expenses $50 per item
4868 Application for Extension to File U.S. Individual Return $50 per form
4952 Investment Interest Expense Deduction $30 per form
4972 Tax on Lump-Sum Distributions $75 per form
5329 Additional Taxes Attributable to Qualified Retirement Plans $30 per form
5405 First Time Homebuyers Credit $25 per form
5695 Residential Energy Credits $25 per form
6198 At Risk Limitations $25 per form
6251 AMT Alternative Minimum Tax $35 per form
6252 Installment Sale Income (first year) $100 per form
6252 Installment Sale Income (subsequent years) $25 per form
6781 Gain or Loss from Section 1256 Contracts and Straddles $10 per item ($30 minimum)
8283 Non Cash Charitable Contributions $30 per form
8332 Exemption Release Divorced or Separated Parents $20 per form
8379 Injured Spouse Claim and Allocation $25 per form
8582 Passive Activity Loss Limitations $35 per form
8606 Nondeductible IRA $25 per form
8615 Tax for Children under 18 who have Investment Income $25 per form
8801 Credit for Prior Year Minimum Tax $35 per form
8812 Additional Child Credit $25 per form
8814 Parent’s Election to Report Child’s Interest and Dividends $20 per form
8824 Like Kind Exchanges $100 per form
8829 Business Use of Home (simplified option) $30 per form
8834 Qualified Electric Vehicle Credit $25 per form
8839 Qualified Adoption Expenses $30 per form
8846 Credit for Employer Soc. Sec. and Medicare taxes on tips $25 per form
8853 Archer MSAs and Long-Term Care Insurance Contracts $25 per form
8863 Education Credits $25 per form
8880 Qualified Retirement Savings Contribution Credit $10 per form
8889 Health Savings Account $20 per form
8910 Alternative Motor Vehicle Credit $25 per form
8917 Tuition & Fees Deduction $10 per form
8938 Statement of Foreign Assets $35 per form
8949 Sales and Other Dispositions of Assets $5 per item
8959 0.9% $200,000 Employment Tax (additional Medicare Tax) $25 per form
8960 3.8% Net Investment Income Tax $25 per form

K-1s Inc, Loss, Div of Partners or Shareholders $25 per form
W-2 Wage and employee tax statement $7 per employee
W-3 Transmittal of wage and tax statements $50 per form

* Pricing based on complexity of return
** Any additional bookkeeping necessary will be charged at $60 per hour.
State State Return (first) $60 first state
State (additional) State Return (additional returns after the first) $75 additional states
E-file free

islandgroveconsulting@gmail.com
Islandgroveconsulting.com
19936 US HWY 17
White Oak, GA 31568
904-528-6430
912-882-8244

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s