What would you charge MFJ w/2/W2's Schs A,B,C,D&E and..

[AZ-Tax]

MFJ: 2 W-2’s, Schedules A, B, C, D & E. Plus 2 partner P’Ship.

Fed & St

Ops, forgot to add the K-1

[JoshinNC]

At least

$1300 minimum

[Burke]

There could be quite a range depending on the number of items on those forms. For instance, how many rental properties and how much depreciation on assets? Same on C. Is there inventory? How many transactions on D and what type? How involved is the K-1? Even Sche A can be a headache depending on number of entries & type. Too many variables. AND how much did they pay last year?

[geekgirldany]

I agree with Burke. Maybe give a little bit more info.

[AZ-Tax]

More details

There could be quite a range depending on the number of items on those forms. For instance, how many rental properties and how much depreciation on assets? Same on C. Is there inventory? How many transactions on D and what type? How involved is the K-1? Even Sche A can be a headache depending on number of entries & type. Too many variables. AND how much did they pay last year?

Burke, agree....last year No Sch E or C. 2 rentals avg each 12 entries per rental. Sch C about 12 entries w/no inventory (service business). About 5 transactions on Sch D K-1 6 entries and Sch A about 20 entries.

I will not disclose my fee due to being laughed at

[Gretel]

How involved are the partnership tax returns? They can get real complicated, real fast.

Just for a 1065 I would charge a minimum of $450.

I thought you wanted input BEFORE making your decision. If you won't disclose I will not disclose anything any more either.

[AZ-Tax]

Ok here it goes...

Just for a 1065 I would charge a minimum of $450

Lets just say I charged less then you would have charged for 1 P'Ship now I know I have to raise my fees next season.

[Burke]

I missed the partnership return inference altogether. I think I thought it was 2 PTP K-1's. Yeah, for the partnership alone, charge the big bucks.

[MRPLOW]

AZ-tax,

One tip I have for you is not package price returns like this, it's easy to undersell your fee doing it this way.

Quote a fee for the partnership and quote a completely separate fee for the individual return.
Make it clear that this is not a package price, some people hear package price and think they should get a deal.

Complete the partnership and have them pickup this return up and pay the fee, and then have them come back a second time to pick up the personal return and pay for that return.

I always do this with clients that have a business and personal return. I also do the same for multiple-year delinquent or amended returns. One return per person at a time.

[KC-CPA]

I have a client that has a new partnership, I told them my minimum fee $450, most likely would end up around $750. They decided to buy turbo tax and do it themselves and then let me do their individual return with the K-1 they would provide from the partnership return. I thought this is an interesting scenario, I could hardly wait to get the K-1... Got a call yesterday that said, they couldn't figure out the partnership, they have too many questions ( I believe they were indirectly asking if I would help them) I said, well I would help but I have had one too many experiences with Turbo Tax, let me know if you would like to file an extention and I can do it later this month.

This situation pinpoints cleints view of things... I still remember the words.. our partnership is simple, not much to it... then you ask the questions... then they can't believe your fee...

[AZ-Tax]

All very good points....

Next year will be a different story. Keep in mind what is suppose to happen Jan 1, 2013....

All paid preparers will need to have a license so there will be some that will get out of the business altogether.

Many of those paid preparers now that are preparing business returns who end up becoming a RTRP, will no longer be able to prepare business returns. My EA class of 27, only 10 passed all 3 parts. The only other option is to become a CPA for which you are talking years.

Around here pricing is very competitive as mentioned in another thread, a new client was paying $800 for 11 rentals which includes his personal tax return.

My fees especially for busines tax returns will increase next year.

[joanmcq]

I have a new client that is doing his own S-corp...'nothing to it'. At first I thought it was a mess, but I have his QB, we went over some bookkeeping issues, and except for the fact that I don't know his basis (and it's likely I'll be computing it after the season), I'm comfortable with the numbers on the k-1. I wouldn't do his personal return if I wasn't ok with the K-1.

They did call and wondered what my bill would be for all of the advising I've been doing...(the one husband has always used a CPA for a rental & investments & she advised getting someone familiar w/CA issues), and I said, less than you paid last year!

Over $2000 for one rental, one K-1 and three states.

[KBTS]

Next year will be a different story. Keep in mind what is suppose to happen Jan 1, 2013....

All paid preparers will need to have a license so there will be some that will get out of the business altogether.

Many of those paid preparers now that are preparing business returns who end up becoming a RTRP, will no longer be able to prepare business returns. My EA class of 27, only 10 passed all 3 parts. The only other option is to become a CPA for which you are talking years.

Around here pricing is very competitive as mentioned in another thread, a new client was paying $800 for 11 rentals which includes his personal tax return.

My fees especially for busines tax returns will increase next year.

Sorry, but your date is wrong. Paid preparers must be licensed by 12/31/2013.

[JSLATER]

Next year will be a different story. Keep in mind what is suppose to happen Jan 1, 2013....

All paid preparers will need to have a license so there will be some that will get out of the business altogether.

Many of those paid preparers now that are preparing business returns who end up becoming a RTRP, will no longer be able to prepare business returns. My EA class of 27, only 10 passed all 3 parts. The only other option is to become a CPA for which you are talking years. .

From the IRS Web Site concerning what forms RTRP forms that can be prepared:

2. If I pass the RTRP test, am I limited to preparing only the forms tested on the examination? (posted 7/18/11)

No. You will be able to prepare any Federal tax return or claim for refund if you pass the RTRP test unless the IRS develops additional competency tests for other tax returns in the future.

[Burke]

One tip I have for you is not package price returns like this, it's easy to undersell your fee doing it this way.

I agree. I always wound up underpricing myself when I did a package deal. Now no longer do that. Even for tax reviews for mid-year estimates, retirees, etc. They get a bill on the spot. If you try to include it in next year's return price, you never judge the time spent accurately later, if you even remember it! And I print every form on the bill, so it kind of puts it in perspective for me and the client when it comes to pricing. As well as indicating any extra work. And this goes for kid's return. They each get a price individually, although it may be discounted if I am doing the parents'. We have an attorney in town whose pricing is unbelievable. He even includes a price for the time it took to do the bill!!!