www.alltaxwork.com for help on all IRS Forms 1040, 1040A, 1040EZ, 1040X, 1065, 1120, 1120S, 1041, 1040NR, 990, associated schedules and related state forms. IRS letters and notices.
If you are a new client, please bring in your previous year's return, and the bill showing what you paid. our bill will be 75% of that bill assuming it is a similar return. If it is not, we will charge you 75% of our fee as calculated below.
Sample situations below indicate what prices you might expect
One W2 and standard deductions $70-$80
Self employed person, you receive form 1099 miscellaneous. Sometimes, your employer gives you both a W2 and 1099. Form 1099 forces a Schedule C upon which you pay self employment tax, that is double social security and medicare as well as income tax. In addition, you should file Form 1040. If you are really self employed with your own business, we would examine all reasonable deductible expenses, including a home office and mileage in order to minimize your tax obligation. Our charge for this would be in the $300-350 range. Where the 1099 miscellaneous does not attract expenses, our bill would be $130.
Landlord, this includes anyone who owns property which is rented also anyone who rents out their personal residence for more than 14 days. Many expenses may be deductible which we will determine. For a return including one rental property our bill will be in the $300-$350 range
Certain employees with just one W2 will, in 2016 at least, always itemize due to state tax deduction. For these we charge $250. If the taxpayer also has stock market transactions we would charge an additional $50-$75 and $25 per K1.
LLC, as shown below, can elect to file as partnership, Corporation, sole proprietor or as diregarded entity. An LLC at least in California is registered with and given an entity number by the secretary of state to which it pays an annual fee.
Trustee of a will, trust or estate is obliged to prepare return. If we receive a financial statement, we would prepare the return and K1s for $200.00 whether it is a simple or complex trust.
Sub Chapter S Corporation is a type of 'pass through' entity, that is it does not pay tax in its own right but income flows through to the members, oner or more but less than a 100. Assuming that we receive financial statements, we would charge $300 including K1s.
C Corps pay income tax on net income and may pay dividends and interest, thereby issuing 1099DIV or 1099INT. During the year, they will normally make estimated tax payments taxable on a cash basis. We charge $400 to review the financial statements and to prepare a return.
Prices include e-file, one state return, Alternative Minimum Tax (AMT Form 6251 if necessary), Depreciation schedules, Estimated tax payment forms, Annualized return,
Penalty calculations, Retrieving K1 of PTP, Extra copies of return (paper or PDF), Filing Extensions ($20 charge to be credited against fee for full return)
1040 base price $100.00 (includes Schedule B)
SCHEDULE CEZ + $50.00
SCHEDULE A + $100.00
SCHEDULE C + $175.00 per Schedule C
SCHEDULE D + $75.00 per page
SCHEDULE E + $175.00 per rental property
1041 Estate, Trust or Will, preparation of K1s $200.00
1065 Partnership, preparation of K1s $300.00
1120 C Corporation $400.00
1120S Sub Chapter S Corporation, preparation of K1s $300.00
K1 $25.00 for each K1
There are many lines on a K1, each of which may generate an entry on the above Schedules, we do not charge for the forms generated by the K1.
Sale of home as personal residence $75.00
1040X Amended Return priced as for 1040 and Schedules
LLC Limited Liability Corporation - can elect to file as partnership, Corporation, sole proprietor or as diregarded entity, price depends on filing entity
If filing as sole proprietor or disregarded entity, and no Schedule C required, the entity may still require a State return for which we will charge $100
No charge for first State Return
Additional State returns price varies by State
How does AllTaxWork give value for money?
Assume that the the taxpayer has all his documents relating to this years return.
The taxpayer arrives with all the tax documents relating to him/her and dependents, all income and expenses, and all IRS forms mailed to him/her
We review the forms and agree the price to prepare and file the return
We prepare the return and determine all legitimate deductions relating to that income.
We reconcile the current year return with prior year returns especially relating to losses carried over
We review the AMT calculations especially if Net Operating Losses (NOL) are involved. If there are NOLs we determine if the state calculation is correct.
The taxpayer and we sign the return, the taxpayer pays us the agreed upon fee either by cash, check or credit card, we efile the return, or prepare it for mailing which the taxpayer then mails in the envelope provided.
If necessary, the taxpayer mails a check for income tax due or reports back to us when he/she receives the expected refund
The tax payer calls us if he/she requires assistance or representation regarding a letter from the tax authority relating to this return
HOWEVER, it might be more convenient if:-
We visit the taxpayer's home or office: we collect his tax documents, return to our office to complete return. We email him forms requiring signature which he/she emails back signed copy assuming the return is approved (all emails password protected). He/she pays by credit card, we file the return and email back PDF of return. We are prepared to deliver the complete return to your home or office. In any event we charge $50 per trip.
The taxpayer emails his tax details and documents to us, all attachments should be passord protected PDFs. We resolve any questions by email or telephone: We email him forms requiring signature which he/she emails back signed copy assuming the return is approved (all emails password protected). Payment is normally by credit card.