How Much Do Income Tax Accountants Typically Charge?

Income Tax accountants can charge a variety of fees to prepare your tax returns each year. Their two most basic services are personal tax returns and business tax returns. Rates will vary depending on how many forms need to be filed and the complexity of the business or personal return.

Private  Firms

Private firms and individual CPA's generally charge one of two ways either a flat rate, or an hourly rate. Hourly rates vary by city. The rates can be as low as $25 per hour, or as high as $300 per hour. Flat rate means you will pay one rate for the preparation of your taxes.

For personal returns, which are more standardized, you can expect a total fee between $400 and $500 for your IRS 1040 return and associated forms. For business returns, some individual CPA's charge a sliding scale, based on receipts. For example, if your business has annual receipts of $500,000, they can charge a fee of $400. However, for a business with annual receipts of $1 million, they may charge $850 to file the return.

Tax Franchises

Tax franchises like H&R Block, Jackson Hewitt, and Liberty have several options available. All companies require that you to visit a local office and review your information with a tax preparation specialist. Once they have received your  information into their system, and the required forms have been determined the tax specialist , they can tell you exactly how much the service charge will be. Generally speaking, the fees usually work out to the same amount your local CPA would charge.


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