The tax code is complex, and with recent tax reform the complexity has not diminished. So, before you hand over your personal data to a tax preparer, be sure you understand what you will be paying for.
By Thomas J. Rennie, CPA
When people approach me with a tax question, sometimes I feel like a broken record. “It depends” is an all too common answer to questions on the spot. The tax code is complex, and with the Tax Cuts and Jobs Act of 2017 the complexity has not diminished. A variety of factors can impact the answer to what may appear to be a simple question on its surface.
Similarly, “It depends” is the base answer on questions regarding the fees charged for completing a tax return. Just like the tax code itself, the cost of completing a taxpayer’s return depends upon myriad factors. A one-size-fits-all pricing structure doesn’t work for anyone. Before you hand over your personal data to a tax preparer, be sure you understand what you are paying for. If you get an upfront price quote, here’s what you need to ask:
When you receive your tax return from your preparer, whether you owe taxes or expect a refund, you don’t want to be surprised by a big tax preparation bill. Getting answers to the above questions should help you avoid an unpleasant surprise when you review your tax return. If you're looking for a CPA in your area, visit PICPA's CPA Locator.
Thomas (Tim) Rennie, CPA, is president of Rennie & Associates CPAs PC.
Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of PICPA officers or members. The information contained in herein does not constitute accounting, legal, or professional advice. For professional advice, please engage or consult a qualified professional.