Tax Prep Fees

[Unregistered]

Of course price fixing is not legal but research is fine.

In a middle american town this is a price range.

$70.00 to walk in the door
$90-$120 1040 plus A maybe a few kids 1-2 schedules.

150-250 Organized Schedule E or C

$400 1065 or 1120 staring price assume well organized.

EIC and welfare credits are usually about 90-140 plus bank fees.

Free E-file and year round questions answered without a charge.

I hope this helps.

[taxea]

Tax Prep Fees

Thank you all for your many comments and resources. After reading all the responses I feel that I am being very reasonable.

I know that HRB charges double in it's Premium offices just because they call them "Premium". I work out of my home and am flexible with my fees, don't charge clients for year-round questions.

I really appreciated your input.
taxea

[Chief]

Fees

Free tax prep software from IRS? I would not uee tax prep softrware from IRS if they paid me to use it. IRS is not a software company and has too many coals in the fire as is. I don't see how they could meet our needs for prep software.

The IRS offices world-wide use TaxWise software for preparing returns. This same software is used at military installations and by, VITA and TCE (AARP) groups offering free tax preparation to low income and elderly segments of our population.

[dmj4]

Snag.....EA vs. CPA

Assume people are coming in to have their tax return done. Do you believe that a CPA has more income tax on their CPA exam than an EA has on thier exam? This is only a genuine question, not a criticism of what you wrote.

I am just wondering, because I believe when it comes to "tax returns" that an EA has been more thoroughly "tested" than a CPA. I could be wrong and of course, there is no way to compare person to person because there are the bad, good and great in all tax prep fields regardless of any test they have or have not passed. Sometimes, I think we EA's are too quick to assume that a CPA has more of everything. I'm not so sure they do in the area of income tax. I know they have much more accounting than I do, both in skill and knowledge. That only refers to me, not anyone else here.

I do know that many years ago, to get your accounting degree you only had to take one income tax course, any others were electives. Now, I think a CPA candidate has to attend college longer than someone seeking only the accounting degree. Is this extra college time spent preparing for the CPA exam or is it spent partially on income tax courses?

[jainen]

College

>>Now, I think a CPA candidate has to attend college longer than someone seeking only the accounting degree. Is this extra college time spent preparing for the CPA exam or is it spent partially on income tax courses?<<

CPA's are licensed by individual states so requirements vary. California does not require a college degree though that is the most common path. Most accountants think of taxation as a specialty. They will either prepare properly for it or avoid it. Sometimes they will specialize even further, such as non-profits.

[geekgirldany]

This year I was looking into the CPA. In georgia you have to have atleast a bachelors degree and worked for 5 years in public accounting under another CPA. So that threw it out for me. I have noticed that alot of the bachelors in accounting have individual to corporate taxation courses. I've decided that if I can get my EA and a masters in taxation I will be very proud of myself.

It all depends on the CPA. Like jainen said they can choose to specialize in taxes or go in the opposite direction of accounting/financing. I think alot of the public believe because a person has their CPA they know more about taxes. Which is of course not always true. Those that have earned their CPA deserve respect just for getting through the test. What they charge is most times reasonable seeing the education they received and other training.

[Donanita]

Quote
I think alot of the public believe because a person has their CPA they know more about taxes. Which is of course not always true. Those that have earned their CPA deserve respect just for getting through the test. What they charge is most times reasonable seeing the education they received and other training.[/QUOTE]


This is also true of a tax preparer that is not a EA. I have been doing taxes since 1985 and have taught tax school for HRB but I have no desire to go through the stress of the EA test.That doesn't mean I know less about taxes that a EA does.I appreciate the people that have undergone the stress to take the test but I also know you can study the questions and learn the answers but you can still be a very good tax preparer without EA added to your name.

[geekgirldany]

true very true. its all about experience

[John of PA]

MS in Tax

In response to GeekGirlDandy, I recently got my Masters in Taxation, and have found that clients ask frequently "what is the MST after your name?" (thinking its some sort of financial planning designation); when I tell them it's a master in taxation, they are very impressed, knowing all the hard work I went through. So I'am glad I did that. My friend never passed his CPA exam, after trying about 10 years; but he got a MST early in his career. He has done very well (way better than me with my CPA), and has a few very lucrative pet clients, and jokes at me when I asked him "when are you getting your CPA?", he sais "I don't know, but when I'm ready for my CPA, I'll just hire you".

[KBTS]

Masters Degree

John -

Just curious - where did you get your Masters degree from? Did you complete it via online or traditional classroom and how long did it take you? I studied all summer for the EA exam and am confident I passed - I am just waiting for official results. It kind of got me back in the routine of studying and was nice to stay busy in the tax "offseason." Thanks

[John of PA]

Masters in Taxation

I received my MST (Masters of Science in Taxation) from Widener University in Chester, PA (near Philadelphia). They have a very good, in the classroom program (more practical and less theory) I feel going to a school like Univ of Penn Wharton, while it is very high profile, would not have been as helpful as they are more interest in grooming future CEO's, then conductiog practical, hands on studies that would help a small pratitioner like me. I only took 1 or 2 nightclasses per year over a span of about 8 years. I am not one for online or correspondence courses. I finished this masters at age 51, 2 years ago.

[Chief]

Master's

My, My!!!!!

John, you are still a child. None of us are ever too old to learn. Study, research, and reading will keep you forever young.

Did you see that movie "Forever Young" With Mel Gibson starring in it. About a 1930's airman who was frozen and then thawed out by two children who discovered him. He started growing older rapidly, hijacked at vintage aircraft, and flew to an island where his girl friend was still living and waiting for his return.

Continue to learn and you will never grow old.

[John of PA]

Forever Young

Thank You for the tip. I have not seen Forever Young but I will put it on my rent a vidio list. Each decade of life (even your last one) has special positive gifts uniquie to it. The challenge is to embrace as much of the gifts of that decade as you can, and not live in the past of future. There was a great author who wrote about this and now I can't remeber who it is (maby it was CS Lewis). However the reason I can't remember is not what you may think, the reason is "intellectual overload".

[geekgirldany]

John this is very encouraging. It might take me 10 years to get the Masters In Taxation but I am determined to get it. I once had a accounting teacher tell me it took her 12 years to get her bachelors because she was just doing 1 class a semester. But hey she got it. I really like learning. Even though still taxes and accounting, gets my mind off my business so much.

I've found atleast three colleges that provide online graduate courses for taxation. Here is a good website that lists all of them:

http://programs.gradschools.com/distance/taxation_business.html

Have to be careful with these online schools. But I think if I was to choose it would be the University of Tulsa.