Vagabond MDParticipantStatus: PhysicianPosts: 3477Joined: 01/21/2016
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 – ?
"Wealth is the slave of the wise man and the master of the fool.” -Seneca the YoungerSeptember 7, 2019 at 12:37 pm MST #244555jacoavluModeratorStatus: Physician, Small Business OwnerPosts: 2381Joined: 03/01/2018
You must have a fairly complex return. ?
The Finance Buff's solo 401k contribution spreadsheet: https://goo.gl/6cZKVASeptember 7, 2019 at 12:49 pm MST #244561PedsModeratorStatus: PhysicianPosts: 4447Joined: 01/08/2016
hoooray turbotax.ENT DocParticipantStatus: PhysicianPosts: 3518Joined: 01/14/2017JohnWParticipantStatus: Small Business OwnerPosts: 9Joined: 08/30/2019
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.September 7, 2019 at 2:19 pm MST #244580CordMcNallyParticipantStatus: PhysicianPosts: 2851Joined: 01/03/2017
$2400 if you have a professional do it. $59.99 if you do it yourself.
“But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”
― Benjamin Graham, The Intelligent InvestorSeptember 7, 2019 at 3:40 pm MST #244595BmacParticipantStatus: PhysicianPosts: 313Joined: 10/21/2017jfoxcpacfpModeratorStatus: Financial Advisor, Accountant, Small Business OwnerPosts: 8137Joined: 01/09/2016
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)?September 7, 2019 at 3:56 pm MST #244600nephronParticipantStatus: PhysicianPosts: 227Joined: 05/09/2019
$3055 (based upon an increase in between 2018 and 2019).September 7, 2019 at 4:05 pm MST #244604HumbleInvestorParticipantStatus: Physician, Small Business OwnerPosts: 209Joined: 12/28/2016
Does that I clude business returns 1120S? I am guessing $2800.
How much does your accountant charge for 1120S?September 7, 2019 at 4:29 pm MST #244612pierreParticipantStatus: ResidentPosts: 181Joined: 02/01/2016
Does the person with the closest guess win a prize? Price is Right rules?SteffanWParticipantStatus: Advanced Practice ProviderPosts: 88Joined: 01/24/2019
Is this the trend in charges for professional tax preparation, the trend in increased complexity of your taxes, or both (I’ll disregard inflation)?September 9, 2019 at 3:32 pm MST #244963jhwkr542ParticipantStatus: PhysicianPosts: 1316Joined: 02/15/2016
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.September 9, 2019 at 8:05 pm MST #245002Vagabond MDParticipantStatus: PhysicianPosts: 3477Joined: 01/21/2016
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.
"Wealth is the slave of the wise man and the master of the fool.” -Seneca the YoungerSeptember 9, 2019 at 8:51 pm MST #245004djohnflatfeecfpParticipantStatus: Financial Advisor, Website Sponsor, Small Business OwnerPosts: 214Joined: 09/14/2017
Yikes! That’s a hell 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).