What’s a reasonable amount for an accountant to charge you for a single year of filing taxes? Simple situation, just filing income and a couple deductions. Just got quoted $700 and thought that was quite high.

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H&R Block or TurboTax have a hybrid online and live tax advisor review which I’ve used in the past and was pretty good. It should run you under $400.

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I use a guy and have had extremely complicated situations over the years:
Rental property
Primary mortgage
Home sale/purchase
Inherited a trust
Changed jobs
Owned a company with a profits interest impact,
Fully employed MBA student loan (there are both interest and principal implications for that.)
Multiple state returns.

He’s never charged me more than $265.

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Update, it’s $300

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I paid like $60 doing it myself online using hrblock

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Have any side hustles?

If yes, you probably can file for yourself.

If no, you absolutely should file for yourself.

$700 for reg taxes is bananas

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You can get a tax “expert” through turbo tax for about $200

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I paid $500, Fed plus 3 states, including stock/capital gains schedules. $700 is way too high for what you describe.

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I filed in five states once and used a pro. Charged me $400. Found out all the guy did was what I had been doing for four or fewer states.

$700 is ridiculous. File using software, unless four or more of the following items are true for you:

Rental income
More than five states (even then software does it pretty well)
Alimony income
Sales of a family business
International income
Property depreciation
You are a farmer
….you get the idea

For the vast majority of us, online software is good enough.

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I paid $700 for federal, 5 states, investments, house/kid deductions etc. thought it was high but didn’t feel like shopping around to save 150 bucks

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I pay $2400 but multiple K1s in foreign countries, multiple state filings, a rental property, an income producing farm. Now thinking I’m overpaying….

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Its a ranch really - we raise cattle. I have a partner that takes care of most of the physical labor and I provide the property/capital/business side. Its not a great investment tbh but it is interesting.

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Depends on what they are doing?

Do you have a mortgage? Any investment accounts? Any income from other sources like real estate, partnerships etc or is it W-2 income only.

On the higher end but not completely outrageous. I had a few things that complicated my situation and paid around that. When those items no longer applied I just started doing it myself

I paid ~600 and my taxes are simple (except filing in multiple states)

I paid 300

Sounds about right.

As someone who does the taxes for my family and some relatives and is not a tax expert, this is crazy. H&R Block is so easy. You can automatically upload a W-2, investment statements and other forms. I’d only pay someone that much if there was real estate or partnership income or some other scenario like a rollover during the year. H&R Block makes it dummy proof. I think CPAs charge solely on what they expect your refund to be. The same scenario for the OP but an hourly job you might be charged $100.

Caveat would be filing in 3 or more states. The various rules about apportioning income to states is quite complicated and could open up risk of penalties or missing out on refunds.

Damn. I pay 1500. Multiple w2 between me and SO. SO is realtor on side so I come there. several rental properties, investments, and tax guidance. Multiple states.

My wife owns a dental practice - we pay $1500 to have our personal taxes done by the company that does her accounting and business taxes. Personally we have investments, rental income, multiple commercial loans, she has a 401k plan for her employees (those fees are separate) and contributes the max employer contribution (for herself), and i have multiple state w2s with Accenture (pre-covid). I would say it’s complex and they employ strategies combined with her business to reduce our overall tax burden.

I used to do our taxes before she owned the practice with turbo tax. Took about 3 hrs tops.

I would ask what comes with the $700. Does it include tax planning and strategies for next year? Our accountants provide this and the tax savings more than pay for all their account and tax prep fees (over $12k/yr).

Perhaps, but consider your hourly. I don’t begrudge the $ if it’s a not a simple return, for example many states or somewhat complex investments.

I’ll do it for half that and I’m a CPA (***will use turbo tax to file)

I’ll do it for $325

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