Simple and organized – If you have a simple tax situation, and you have organized your tax records and expenses by category, you can expect your tax preparation fees to be between $200-$500, plus any out of pocket expenses.
Complex and organized – If you have a complex tax situation and you have organized your tax records and expenses by category, you can expect your tax preparation fees to be between $300-$900, plus any out of pocket expenses.
Complex or lots of tax matters or unorganized – In any given year, you may have a challenging tax issue arise that requires special attention that may require additional preparation time on our part. They may be high net worth clients with a lot of complicated tax matters that require additional research or planning. They may be a client with many tax documents that have not been organized or totaled by category. You can expect your tax preparation fees to be billed hourly at our current hourly rates. Depending on the complexity, you can expect to pay anywhere between an additional $250-$2000 for these complicated issues.
Preparation of a child’s tax return can cost between $100-$250 per return.
Your Colorado state income tax return is included in the scope of the tax services quoted to you. If you have a filing requirement in an additional state, the tax preparation fee for most states is $75 per return. California, Pennsylvania, Ohio, Texas, and New York have complex state tax filing requirements and thus require additional preparation. These states bill out at $125 per state return. We are multi-state tax compliant and will recommend additional state filings when you conduct activities in another state that will render you to have a filing requirement. This firm is required to prepare these additional state returns regardless of whether you choose to file the returns prepared.
We require a retainer when your total estimated tax bill is expected to exceed $1,000. Your retainer payment is similar to a deposit or a pre-payment that will be applied against the work performed. It is firm policy that we have an executed engagement letter on file with our estimated fees disclosed up front before we begin any tax preparation. Our engagement letter explains the scope of each tax engagement, what work will be performed, the retainer amount if applicable, estimated tax preparation fees, and our limited responsibilities as tax preparers. We do not provide audit services.
Billing is done twice monthly, on the 15th and again at the end of the month. Payments are due upon receipt, and a late payment fee of eight percent annum is charged on any unpaid balance that is not paid within 15 days. Payment must be made before e-filing a return or receiving a copy of the work performed, and may be paid via paypal or personal check. By avoiding unpaid accounts and bad debts, we are able to keep our fees lower and are able to pass along those savings to you – our client.
We appreciate your business and look further to serving your tax and accounting needs.