Very few people actually relish the thought of doing their own taxes, so hiring someone else for preparation of the annual tax return is a popular option. There are a variety of tax preparers to choose from, some who are more qualified to handle complex financial situations than others. You can hire an actual attorney who specializes in taxation issues, a Certified Public Accountant (CPA), an Enrolled Agent who has taken a special exam in tax preparation, or simply someone who holds a PTIN, or Preparer Tax Identification Number, which means they can prepare your taxes but not represent you in an audit. Whom you choose to hire will depend upon the degree of expertise you need to address your own unique financial scenario.
Factors That Affect the Cost
One of the factors that affects the cost of tax preparation is the type of tax return that will be filed. If you simply wish to file a form 1040 without itemizing deductions, it is cheaper than filing a 1040 with a Schedule A for itemized deductions. The cost of tax preparation will also vary with the location where you’re filing. Preparers from highly populated areas like large cities in California or on the East Coast will generally charge more. The expertise of the person preparing the taxes will also affect the cost. It costs more to hire an attorney than it does to hire an Enrolled Agent.
What Does the Fee Include?
It’s always wise to find out what the fee will include before hiring a tax preparer. Will the fee include e-filing the return, and will it be for both federal and state returns? Does this fee include representation in case of an IRS audit, or would that be billed by the hour should it occur? Always ask up-front what you’ll be paying and give the preparer a concrete idea of what type of return you wish to file and what kind of assets are involved.
Call to Schedule a Free Consultation With an Indiana Tax Preparation Accountant Today
If you are thinking about getting help to file your annual income taxes, call to schedule a free consultation with an Indiana tax preparation accountant today. The experienced professionals at the OnTarget CPA certified public accounting firm understand the laws for filing taxes for all sizes and types of income and will help you find all possible deductions while giving you the support and confidence you need. We serve the cities of Indianapolis, Carmel, Fishers, Zionsville, Avon and surrounding communities. Check out our website at ontargetcpa.com or give us a call at 317-820-2000 and let us help you file your income taxes today.
