Dan’s Tax Prep 2019
DAN’S TAX PREP
This is a full disclosure of the
fees I will charge you.
Basic fees are as follows:
$110 for Form 1040 and 1040SR
The Tax Cuts and Jobs Act of 2018 eliminated Forms 1040EZ and 1040A. These were more simple tax returns and my fees were appropriately reduced. Existing clients whose returns would qualify for the 1040EZ or 1040A (if they still existed) will still receive a similar fee reduction.
~ $10 to file an extension for you.
~ $10 for clients desiring or required to file a paper return (rather than electronically filing).
~ $25 per credit for returns with the following refundable tax credits; the earned income tax credit, the refundable child tax credit, and the American Opportunity Tax Credit. The reason for this is due to the amount of due diligence that the IRS requires of me, and that the IRS now holds preparers liable for errors pursuant to these credits. I do not charge the fee for the regular child tax credit.
~ $25 for returns requiring me to submit a Form 8453 for Schedule D transactions. This will only affect clients with non-qualified brokerage accounts having large amounts of stock or mutual fund transactions. Other preparers charge $2 or $3 per trade, which alone can add up to hundreds of dollars, so the $25 fee is still an incredible bargain.
~ $10 if I mail the tax return back to you via UPS, I use UPS because it can be tracked, and delivery happens within 3 days. I use this even if I am mailing inside the metropolitan area.
~ $25 per each 15 minute increment for tax prep time in excess of 1 hour.
~ The fee for an amended tax return is usually $50, but can vary depending on the situation.
~ $10 to provide you with a copy of an old tax return, plus $10 if UPS is used to deliver it to you.
~ As in past years I will also do your dependents 1040EZ tax return for $20. The reason for this is promote family harmony. Because the kids are often in a hurry to get their tax refunds, they often do their own tax return and error by claiming their own exemption. It doesn’t usually get them any more money back, but it can cost mom and dad thousands. I can fix the mistake after the fact, but it’s going to cost a lot more than $20, and you’ll probably end up yelling at your kid in the process.
~ Aside from the special fees listed, I don't charge extra for the preparation of Schedules A Itemized Deductions, B interest and dividends, C Profit or Loss From Business, D Capital Gains and Losses, and E Rental and Partnership income. And that goes for related forms such as the Sale of Business Property, and Self Employment Tax forms. Electronic filing and direct deposit are always free.
~ $20 fee for filing a tax return when not required. Why would anyone want to file when they don’t have to? Filing your tax return is one way to know if someone else has used your social security number to do the same. Sorry, I only make this deal available to existing clients.