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How much to pay for tax prep

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  • How much to pay for tax prep

    Hey!

    My wife and I are about to dump our tax prepper. She’s done an adequate job getting our money returned to us, but I feel that her prices are outrageous.

    For business taxes for my wife’s business (LLC filed as SCorp quarterly and annual with 0 employees and a business gross income of <$40,000) and personal taxes for myself (med student last year) and my wife, we paid well over $1,300 for 2017 in prep fees.

    Am I off on this? With a small business (LLC- wife is a personal trainer) and student (now resident) taxes, what’s an appropriate amount to pay?


  • #2
    The business is the kicker. You might ask how much that is by itself. Based on your wife's income and my presumption of your (resident) income, turbo tax is likely a good option. For pricing, try searching the forum for a prior thread about this.

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    • #3
      I started this thread several months ago:

      https://www.whitecoatinvestor.com/forums/topic/how-much-should-tax-filing-cost/

      Based on what you are disclosing, I think you are paying too much and could easily do it with TurboTax.

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      • #4
        How much does Turbo Tax cost? That's your answer.

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        • #5
          Even CPAs mess up S-corps - I'd never recommend you DIY. But why does your wife have an s-corp, anyway? Close it down (use an experienced CPA for any s-corp returns) and then you can probably DIY. Depending on the cost of your house, you may want to use actual costs for the home office.
          Our passion is protecting clients and others from predatory advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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