How Much Should You Be Paying Your Tax Preparer?

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How Much Should You Be Paying Your Tax Preparer?
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• There are a variety of ways in which tax
  professionals set their prices for preparing
  their clients taxes, and no two will charge the
  same amount. However, one general rule of thumb
  is that the more complex the financial situation,
  the higher the price will be.
• Here are a few more guidelines to help you better
  understand how much you should be paying your tax
  preparer
• Pricing methods used by tax pros
• Here are a few of the methods used by tax
  professionals to determine a price for their
  work
• They may have a set fee for each tax form or
  schedule

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• Their price may be based upon last years fee,
  depending upon whether the tax situation has
  remained the same, or altered
• A minimum tax return fee, with an extra fee
  dependent upon the complexity of the financial
  circumstances
• Fees based upon the subjective value of the tax
  preparation service provided
• A simple, hourly rate
• A fee that is set for each item of data entry
• What are the average fees for tax preparation?
• If you itemize your deductions on your tax
  return, then experts advise that you could expect
  to pay an average sum of 273.

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• While this may seem high, it does include state
  and federal returns and if you dont itemize,
  then the figure falls to around 176.
• If youre not organized and arrive at the tax
  preparers office with plastic bags full of
  receipts, or are missing any important documents,
  then you can expect to pay more for your lack of
  effort.
• What is included in the tax preparation fee?
• Not all tax professionals will price their work
  in the same way, so be sure to ask yours what is
  included in their price, such as whether they are
  charging more for electronic filing, phone calls
  or office visits.

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• You will also need to find out what will happen
  if a mistake is made that is the fault of your
  preparer, and what will be included in your
  initial fee if their mistakes cause you to be
  audited.
• The best way to negotiate a reasonable fee
• Sticking with the initial quote from one tax
  preparer will never give you an idea of whether
  the work is being priced fairly, or whether it is
  priced worryingly low. Get several quotes from
  tax preparers to have a better understanding of
  what you should be paying and remember that the
  lowest price may not always be as good as it
  sounds and may not include everything that you
  need from them. Added extras can soon mount up,
  so once youve received an initial quote that
  seems fair, talk to them directly about the
  chance of the fee increasing for any reason.

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• Remember that the price you pay for a tax
  preparer is almost always a sound investment,
  particularly as it can save you from having to
  pay costly penalties further down the line if you
  prepare your own taxes without having the
  relevant knowledge and experience.
• At Heyer Associates, we proactively assist our
  individual and small business clients in meeting
  their goals. Our key area of focus is ensuring
  that our clients remain compliant with federal
  and state tax laws by providing them with high
  quality accounting and tax service Coral Gables.
  If you are looking for individual tax preparation
  in Miami, Heyer Associates would be a right
  option.