Just curious how much you charge for doing easier individual tax returns

[ttbtaxes]

A Federal 1040, state, Schedule A, Schedule B - what would you charge?

Any idea what HR Block would charge?

[taxxcpa]

Normally my minimum fee is $100, but if it is for a client's minor child, I usually do them free.

A couple of years ago, a long-time client no longer had anything to report except a salary and I only billed $ 50. They never paid me the $ 50, so they are no longer a client.

[ATSMAN]

It Depends Where You are Located

In my area a CPA or EA prepared return with Sch A would run you on the average $175.

A kitchen table or basement preparer may do it for $100 to $120.

HRB will be around $175 to $200.

Check the NATP or AICPA survey of average fees that is published each year for a ballpark figure. If you are a Drake user, they published an internal fee report of their users.

[ttbtaxes]

I've been at this game a long time but lost track of what the "box store" competition, such as HR Block and Jackson Hewitt, charge for simpler returns. If someone comes to me with a more difficult return it's because they've been referred and they rarely ask about the fee.

It's the easier returns that people are more price sensitive about so I want to get a better handle on what someone would be charged on a straightforward return. As we all know, just preparing Schedule A can be time consuming with all of the questions we have to ask to unearth possible deductions.

[Roberts]

I charge by the hour with a 1-hour minimum.
These returns are rarely any more than 30 minutes so if I know they are hurting financially, I'll cut it $30.
If they make it super-easy by emailing me everything, refer me clients and aren't pressing me for time, I might also cut it.

A couple who makes a very good income but all they have are two W-2s and an ultra basic Schedule A with mortgage deduction and property taxes, I give them a discount because the return takes 20 minutes and they direct me 2-3 new clients every year.

[MAMalody]

If I charged, probably in the $125 range.

[Burke]

My minimum charge is $100 for a "short form" - i.e, standard deduction and no addl schedules. For a basic Sche A, at least $150. A schedule A can involve many things. For instance, I just did one that had medical expense over the floor (detailed worksheet), mtge int, HELOC, points, charitable, and home office expense & business expenses as an employee. Plus W-2 and 1099R retirement forms. Sometimes the federal can be simple, and the state is complicated. It's pretty much a judgment call based on the work & time involved.

[mactoolsix]

We have a elderly client that is never required to file, however he always files just to close the tax year, and as he says to keep the "IRS employed."
This year we charged him $156. (Except for free-bees to clients kids, I've never seen a return done for less.

I did a return last week $356 - again longtime client.

New clients get the quote of $495 for starters.

[S T]

Always the fee charge Questions at this time of year!

I received an email from a long time client's daughter, and which said blah, blah, and you probably don't have enough information, but can you tell me what you would charge?

I simply emailed return reply , I would be happy to assist them, but NO I do not have enough information, I cannot compete with Turbo Tax or any free online sites.

Forward a copy of last years tax return/s (seems to be 2 unmarried's with a child) - I will review and let you know!

This one sounds like an EITC involvement and some other HOH issues etc that we currently have threads on the board about.

Not so sure I want to get involved - however it is family!

Sandy

[origun]

HRB fees

Here are some of my observations from the fees we charge at a corporate HRB office. As you all probably know, Block's fees are based on number of forms and even number of line entries and preparers have very little leeway. All fees referenced below are for both federal and one state, electronically fired.

1040 EZ--$80
1040A with no dependents: about $150
1040 or 1040A with dependents--can be anywhere up to mid $300s. Returns with EITC, child tax credit, supplementary child tax credit and child care credit could very easily cost $350. Small items like student loan interest would add a bit. It seems to me that items involving child-related credits are the most expensive, probably because they (EITC mainly) are so often audited. Number of dependents, number of income documents, filing status all can affect fees (e.g., MFS is more expensive than single).
1040 with investments vary a great deal depending on number of line entries and haven't seen many yet this year but probably are in the $300-$400 range; there is no real correlation between time spent on return and cost as far as I can tell.

[MRPLOW]

Between $175 - $300.

Depending on # of W-2's, # of Sch B transactions, complexity of Sch A, and income of client.

[AZ-Tax]

Lots of variables with Sch A & B

A Federal 1040, state, Schedule A, Schedule B - what would you charge?

Any idea what HR Block would charge?

Lots of variables here therefore I would quote a price range which does not usually go over well with prospects for they fear it you will charge the top of the price range. Sometimes I deliberately price myself out of the business as in yesterday's call when I asked the Scheduled C prospect if he tracked his business related miles with dates, names (if applicable) and address locations. He replied, my previous tax preparer just asked for a mileage number. I read off to him questions 47 a & b under Part IV of Sch C. I asked him what type of written evidence do you have? He replied I have the mileage number written down on a piece of paper. Back to your question ttbtaxes. Probably a firm $149 to a new client but if I come to find out there was a large # of entries on Sch A and Sch B, I would increase easily $195 the next year.

[Steve Stang]

I provide a notice to all clients that they sign that indicates a range of fees based on combination of forms used and time. For a 1040 with Sch A, it's about $225 to $245. If there were more forms (i.e. more issues), the fee would be higher for things like EIC, CTC, Sch C, D, E or other credits. For comparison, a Form 1040 A with no EIC would likely be about $180. It may be higher than some but less than others but it has to cover the costs, time involved in the specific return as well as time invested to get set up and stay current on tax issues.

I still think I'm on the low side but I'm working on that as my target is for $300 per return.

[AZ-Tax]

Where are located Steve

I provide a notice to all clients that they sign that indicates a range of fees based on combination of forms used and time. For a 1040 with Sch A, it's about $225 to $245. If there were more forms (i.e. more issues), the fee would be higher for things like EIC, CTC, Sch C, D, E or other credits. For comparison, a Form 1040 A with no EIC would likely be about $180. It may be higher than some but less than others but it has to cover the costs, time involved in the specific return as well as time invested to get set up and stay current on tax issues.

I still think I'm on the low side but I'm working on that as my target is for $300 per return.

Where are you located Steve and do you have a commercial office?

[Bay ArEA]

A Federal 1040, state, Schedule A, Schedule B - what would you charge?

Any idea what HR Block would charge?

I'm in the California Bay area and I'd charge $240 for that. HRB usually charges more than I do, like around 250 or so.