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Guess how much I will pay for tax preparation for 2019 (in 2020)

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  • Guess how much I will pay for tax preparation for 2019 (in 2020)

    Here is the trend in charges for professional tax preparation for the last 8 years -

    2011 - $940

    2012 - $975

    2013 - $983

    2014 - $1002

    2015 - $1100

    2016 - $1600 (including filing for children, first and last time)

    2017 - $1350

    2018 - $1650

    2019 - $2350 (filed for extension due to K-1 delays; did not itemize for the first time)

    2020 - ?

     

  • #2
    $1950

    You must have a fairly complex return. ?

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    • #3
      wow.....

      hoooray turbotax.

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      • #4
        $0

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        • #5
          Assuming similar facts to last year, a lot of the kinks in the TCJA have been worked through by now so I would hope about equal to last year.

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          • #6
            $2400 if you have a professional do it. $59.99 if you do it yourself.

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            • #7
              This is a trick question, right? You decided to do them yourself with TurboTax.

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              • #8
                Just curious, is this for a 1040 only?

                Edited to add, b/c I s/h asked - and same for all yrs in the past (except kids, of course)?
                Financial planning, investment management and CPA services for medical and high-income professionals | 270-247-6087

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                • #9
                  $3055 (based upon an increase in between 2018 and 2019).

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                  • #10
                    Does that I clude business returns 1120S? I am guessing $2800.

                    How much does your accountant charge for 1120S?

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                    • #11
                      Does the person with the closest guess win a prize? Price is Right rules?

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                      • #12
                        Is this the trend in charges for professional tax preparation, the trend in increased complexity of your taxes, or both (I'll disregard inflation)?

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                        • #13
                          Well, you changed jobs, so there may be some moving expenses. Still probably have the K-1 but no delay from new tax law. I'll go with a nice cool $2000.

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                          • #14






                            This is a trick question, right? You decided to do them yourself with TurboTax.
                            Click to expand...


                            Leaning that way...









                            Just curious, is this for a 1040 only?

                            Edited to add, b/c I s/h asked – and same for all yrs in the past (except kids, of course)?
                            Click to expand...


                            Yes, 1040 (Fed and one state), 2 W-2s, 4 K-1’s, Schedule C for 1099 income. Did not itemize (will for 2019).

                             




                            Is this the trend in charges for professional tax preparation, the trend in increased complexity of your taxes, or both (I’ll disregard inflation)?
                            Click to expand...


                            Complexity has not changed. I did file an extension due to a late K-1.

                             

                             

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                            • #15
                              Yikes!  That's a ************************ of an increase.  From an advisor perspective, it's become harder to find CPAs who are willing to handle individual returns.  I tried to send a set of physician clients to a young CPA and her firm told her "no" unless they brought along their corporate taxes (they both worked for large health institutions so that wasn't happening).

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