Tax Return Preparation

Individual Income Tax Preparation

We offer our individual tax preparation services on fee that takes into account the complexity of your particular situation. Most fees fall in the range of $600 to $1,000. Fees are not dependent on the number of forms we produce. Instead, they are our best attempt to match up with our expected time we spend to complete accurate tax returns. After all, what we are selling is our time and expertise, not paper. Items that tend to drive up fees include:

Multiple State filing requirements
Rental properties and related depreciation
Schedule K-1’s
Small Business including single member LLC (Schedule C)
High volume brokerage or Trading Activity
Sales of Property
FBAR Reporting
Disorganization of Records

Once it is determined what is involved, we are happy to quote a firm fee. We are looking for long-term, mutually beneficial relationships and must be doing an awful lot right: some of our clients have been with the firm since I first started practicing. True clients (and friends) for life!

Business Income Tax Preparation

Business tax return preparation fees begin at $1,500 (with most being $1,500 to $1,800). Of course, there are outliers. These fees are for partnership tax returns (Form 1065) and corporation tax returns (Form 1120 and 1120S) including the Section 199A calculation and deduction. Beyond complexity, your fee also depends largely on the quality of your accounting records, how organized you are, the past accuracy of your balance sheet including how much clean-up is required. We will not repeat or continue with ghosts of sloppy accounting past.

Except by special arrangement, we prepare business tax returns only for people that have a reasonably clean set of prepared accounting records. We realize that most business owners are not accountants, so we are happy to help with adjustments, but anything beyond that would simply be cost prohibitive. We are happy to refer you to a bookkeeping service if necessary.

We have a short list of additional fees that might be incurred depending on your tax situation. Conversely, we have reduced fees, (in the $800 to $1,000 range) for extremely simple corporation tax returns or for “no activity” filings. We are always happy to discuss your situation.

Trust & Estate Income Tax Preparation

You will, most likely, only be an executor or personal representative of an estate once or twice in your life. It may seem overwhelming to understand what tax filings are needed and how all this impact the heirs.

We are here to walk you through the tax process and give you confidence in investing as you handle the affairs of your loved one.

Some estates are required to file a tax return that lists all the assets of the estates. These assets include bank accounts, stocks, real estate, IRAs, pensions, annuities and the like. (Estate Tax Return). Some estates need to file a tax return that reports the income earned from the date of death to the date assets are distributed to the heirs. (Income Tax Return for Estates and Trusts).

We can help evaluate your unique situation to determine which filings are needed and prepare the returns.

All estates must also prepare a final Individual Income Tax Return. This return reports the income earned from January 1st until the date of death. It can be challenging to know exactly how to handle certain types of income on the final 1040. We can help sort this out and prepare the return.

Base fees for the various tax returns (if needed) are:

Gift Tax (IRS Form 709) $500
Estate Tax (IRS Form 706) $4,000
Estate and Trust Income Tax (IRS Form 1041) $750

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