Tax Services

Price Factors

If your tax return requires any of the following services, it may impact the final price of your return.

• Reprocessing or expediting

  May apply if we are required to re-prepare or expedite your return.

  Examples include:

  • Reprocessing your tax return to include information that wasn't provided to us to prepare the return (i.e. more deductions added, unknown K1, etc)
  • Expediting your tax return ahead of other client returns (i.e. the return is needed ASAP)

• Providing bookkeeping services

  May apply if we do not receive the required financial statements or are required to make modifications to the books and records provided to us to prepare your tax return.

  Examples include:

  • Preparing financial statements in order to prepare the tax return
  • Posting journal entries (prior year entries or new entries to update/correct your books)
  • Research related to books/records not being correct, retained earnings not rolling forward, understanding your underlying transactions to post adjusting journal entries

• State or foreign filings

  May apply if state filings are required, or if we are required to prepare apportionment schedules on your behalf to prepare a state income tax filing; or if we are required to include additional information related to your foreign activities or your foreign investors.

  Examples include:

  • Preparation of state returns (For your individual or business return)
  • Preparing the state apportionment worksheet on your behalf or, if required, updating it multiple times
  • If we are required to perform research on nexus requirements for each state in which you operate or could be operating
  • Reporting foreign bank accounts (FBAR / Form 114)
  • Foreign tax filings (Forms 5472)
  • Other foreign tax filings

• Extra data entry

  May apply if you have a more complex investment structure (multiple or complex 1099s, K1s) or if you have a substantial amount of updates required (such as from purchasing or selling multiple fixed assets or having a complex fix asset structure, multiple information updates for the owners of your business, etc).

  Examples include:

  • Form 1099s (First three included with return)
  • Work related to basis, stock compensation, etc. if not included on documents provided to us
  • Schedule K-1s (First three included with return)
  • Fixed asset updates – buying or selling (First ten included with return)
  • Owner information updates (First two included with return)

• Additional/special schedules, forms, or elections

  May apply if we are required to include a Schedule C, rental property (Schedule E or Form 8825) on your income tax return; or if we include a special form or election; or if special calculations are required for your investments, such as application of the basis rules.

  Examples include:

  • Form 2553, S-Corp election
  • Converting from cash basis to accrual basis
  • IRC Sec. 754 adjustment (Form 1065 only)
  • Special allocations under your partnership agreement (Simple adjustments included with return)
  • Filing a business tax return (Schedule C) on your tax return
  • Rental properties reported on your individual return (Schedule E)
  • Rental properties reported on your business return (Form 8825) (First three included with return)
  • Combined tax return (most commonly, for rental property LLCs)
  • Investment calculations & planning when applying rules related basis, at risk and passive activity losses; determining your active or basis status; discussions surrounding real estate professional status

• Buying or selling a business

  May apply if you buy or sell your business, or a portion of your business.

  Examples include:

  • Additional work required when you buy a business
  • Additional work required when you sell a business

• Other complex matters

  May apply if there are other complex items that aren’t “normal” to most Taxpayers, such as special foreign filings, forms, returns, etc.

  We’ve attempted to explain the major modifiers that impact the price you pay for tax return preparation.  However, there are numerous complex items that only impact a very small percentage of our clientele, and an even smaller number of normal taxpayers.  Meaning, we haven’t listed every little item that could impact tax return pricing.

  If we haven’t listed it, and we deem it is complex (or it is listed, but the issue at hand is more complex than we indicate here), then that service will be completed at hourly rates.

Other & special  returns 

• Quarterly estimated taxes

  Quarterly estimated taxes are an important piece of the tax planning puzzle. If we are completing your tax return, Safe Harbor calculations are included, if required. This method is enough to help avoid penalties from the IRS but does not provide the most accurate estimate.

  Whether you file your tax returns with us or somewhere else, we can give you a more precise calculation of estimated taxes. For quarterly estimated taxes calculated based on your current books, the standard range is $250 to $350 per quarter. This will give you a very accurate estimate of your taxes owed so you aren't left with a big surprise when tax season rolls around.

• Past due & back taxes

  When you have past due or back taxes, we’re required to prepare several years of returns at the same time. Doing this typically means a little extra work than when preparing a single year tax return. You can reasonably estimate the cost of these returns to be the current year rates + 10% for additional time spent.

  Note that for any past due tax project, we require a 50% nonrefundable deposit to be paid before we begin the project. As we prepare your returns, we will progress invoice you for them. Your deposit will be applied to your final tax return invoice from us.

• Amended tax returns

  If we prepared the return being amended, the cost will be somewhere between 50% to 75% of what the original return cost. This covers updating the return and the return going through the quality control process again.

  
  If we did not prepare the return being amended, the cost will typically be between 70% to 100% of what we would have charged if we had prepared the original return.

• Tangible personal property taxes

  Florida (per return/county)

  $275 to $325

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  Other states (per return/county)

  $275 & up

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• Reporting for self-directed 401(k)

  Reporting for self-directed 401(k), solo 401(k) and other self-directed retirement plans (Form 5500EZ) with no tax due starts at $500 to $750.

Tax  advisory 

• Tax strategy & planning

  Tax strategy and planning is offered at hourly rates.

  This session typically includes reviewing your tax situation from the top-down, planning for major events in the near future, and giving actionable advice for making your business as tax-efficient as possible.

  For tax advisory, billable time includes all advisory time before, during or after a meeting. Examples include time spent reviewing documents, answering questions, conducting research, and more.

• Business financing

  Anytime your business changes its financing, it will affect your income taxes. Whether that's through adding or removing partners/owners, taking a loan, or something else, you'll want to plan it ahead of time to minimize your tax liability.

  Advisory regarding financing your business is offered at hourly rates.

  For tax advisory, billable time includes all advisory time before, during or after a meeting. Examples include time spent reviewing documents, answering questions, conducting research, and more.

• Business structuring

  The way you choose to structure your business(es) has a huge impact on your overall taxes and, in the end, your bottom line. Speak with a tax advisor about the best way to build your business.

  Advisory for business structuring is offered at hourly rates.

  Business structuring is often accompanied with tax strategy and planning. After just one session, you'll walk away with a roadmap for you and your business.

  For tax advisory, billable time includes all advisory time before, during or after a meeting. Examples include time spent reviewing documents, answering questions, conducting research, and more.

Miscellaneous  services 

• Filing 1099s

  Base price

  $150/batch

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  Price per form:

  First 10 forms

  included

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  Additional forms

  $5/each

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  Mailing service

  $2.50/each

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  Assistance outside of preparation

  Hourly rates

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  Additional copies of the 1099 filings:

  Digital copy, per request

  $25

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  Paper copy, per request

  $25 to $50

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• Tax notices

  Review without response

  Hourly rates

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  Standard response [CP161, CP162]

  $125 to $150

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  Standard response [CP59, LTR12C]

  $175 to $250

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  All other notices (custom response)

  Hourly rates

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• IRS audit & collection representation

  Audit & collection representation is offered at hourly rates.

  If the IRS is auditing you or has initiated a collection action against you, we have your back.  Our team is well versed in representing Taxpayers in these situations and welcomes the opportunity to represent you before the IRS.

  We will work as an intermediary between you and the IRS in order to explain what the IRS is looking for and provide that information to the IRS in the best manner possible.  Along the way we'll update you on the status and provide an ear when you need it.  An audit can be challenging, but you don't need to go through it alone.

• More...

  Bank comfort letters

  $175 to $275

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  Additional copies of your tax returns

  Digital copy, per request

  $50

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  Paper copy, per request

  $50 to $100

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  Effective tax analysis

  $175 to $325

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  Schedule K-1 mailing service

  $3.50

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  S Corporation election

  $300

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