How much does it cost to have an accountant prepare your taxes?
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Anonymous
| DH generally does our taxes, which are uncomplicated for the most part. However, along with his full-time job, DH did some independent contract work in 2012, for the first time. Since this is the first time with these new circumstances, I would feel more comfortable having a professional accountant (not H&R Block, or the like) prepare our taxes, especially since DH has expressed some confusion and discomfort with preparing our taxes this year. Unfortunately DH also is being stubborn and has decided that he can muddle through it, regardless of not being comfortable. His rationale is that is will cost "thousands of dollars" to have a professional prepare our taxes. Since we've always done our own taxes, I don't know how much it would cost, but I had assumed that it wouldn't be more than a few hundred dollars. Is he crazy or am I? |
Anonymous
| You're about right. You can ask them for their hourly rate; it depends on how complicated your taxes are. Ours are generally 4-600, but last year we had to file for an extension and it cost $900. |
Anonymous
| We have a family friend's firm do it, it cost us $600. |
Anonymous
| Does your DH use TurboTax? If he gets the premium version, it will walk him through every potential scenario. I work at a small accounting firm and, based on what you describe, the price would likely be between $700-1100. |
Anonymous
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Our taxes are fairly complicated because of foreign income. We've paid as low as 400 and as much as 2100 depending on our particular issues that year. However, I have to say that every.single.year our accountant has undoubtedly saved us way more $$$ than we paid him for preparing the taxes. If your situation is straightforward then maybe Turbo Tax does the same thing. But, I happen to know that in our situation (foreign income), Turbo Tax does not do the trick.
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Anonymous
| Our taxes are pretty simple now (used to be more complicated which is why we first hired our accountant) and it runs us between $400 - 500. |
Anonymous
| My DH and I work full time and he does some freelance work (gets a 1099). I do our taxes using TurboTax Deluxe, I think, and have never had a problem. It hurts because we owe every year b/c of the freelance income, but it's relatively painless. I would try that first, before getting an accountant. |
Anonymous
Tis is true for us too, and we don't even have foreign income. We do have an apartment we rent, but otherwise uncomplicated taxes. |
Anonymous
| We just use turbotax. No one has came after us yet so I think we are doing it correctly. |
Anonymous
| Call Steve Siesser taxlawmd.com. His rates vary but they are super reasonable and totally worth it. He has saved us a ton of money. |
Anonymous
| I paid $400 one year to have them done and then redid them on Turbo Tax and got the exact same thing. I also had a side business the year I did this, so another vote for do it yourself. |
Anonymous
| $750 |
Anonymous
| Mine are $4k. No businesses on my own return, but it is a very complicated return. Dh pays $650 |
Anonymous
| We used an accountant for years, but taxes were a little complicated and they made mistakes - felt not getting the money's worth. Use Turbotax now. Feel a little more vulnerable, but works pretty well. But if you want to use an accountant I'd look over them carefully the first year to be sure you feel confident in what is going on. |
Anonymous
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I had my taxes paid for by my firm last year as part of a relo package. Cost me (or the firm) $900. I did them by myself in TurboTax and got exactly the same figure the professional firm did.
In all fairness, I was planning on claiming a few things the firm told me I shouldn't, so I guess they earned their fee that way, but other than the very specific relocation tax issue that I had interpreted differently, they added no value. Just got a quote from them again this year, they offered to do my taxes for $850. I'll pass. |