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1041 return

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    #1

    1041 return

    i am in the process of doing a 1041 return and i am charging the client for the program (since he is the only one that needs it) what would be the average cost to
    charge him including the $ 160.00 for the program
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    #2
    IMHO you should not charge only one client 100% of your tax prep software if you are in the business of tax preparation. Just seems unfair to me, but I guess other people may differ.

    The average charge of 1041 returns vary a lot because some are relatively easier than others. I have charged anywhere from $150 to $500. Right now I have one 1041 that has 3 rentals, and 2 separate brokerage accounts and 5 beneficiaries. This will be the final year so the charges will be on the higher end. I have to figure out how much time I spent on that return.
    Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR

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      #3
      Your hourly rate X time spent.

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        #4
        I like to use time ($300 per hour) times complexity (fraction) minus new learning time (fraction).

        I guess if I had more clients I could use a lower hourly rate. But with the cost of tax programs and my current client numbers (which I'm happy with having) $300 works for me.
        Last edited by BOB W; 03-11-2021, 01:14 PM.
        This post is for discussion purposes only and should be verified with other sources before actual use.

        Many times I post additional info on the post, Click on "message board" for updated content.

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