Sunday, January 4, 2015

2015 ExactCPA Tax Filing Prices for Tax Year 2014

Fees are based on the complexity of your tax return. In general, we:
  • charge a fixed price for each tax form and worksheet used in the preparation of your tax return
  • will apply a per-item charge for certain items like stock sales and depreciation
  • do not charge for line-items such as interest income, unemployment and dependents
Examples of our fees for commony types of returns are shown below. We can provide a more precise estimate if we know more about your tax situation.   Call us, we'll ask a few questions and provide you a formal in writing quotation.
To receive quote call us 
@ t. 212.234.8333 or email us!
Where to start?  Use our 2015 Tax Organizer,  download, fill out and email back to us!
Individual Tax Packages:
  • $80  -- Individual Federal and State Tax Return (Basic E-Filing or Paper Filing)
    • Includes E-Filing. ONLY one state, NO itemization, no interest income, no stocks, or any other relevant schedules. Just a basic federal 1040, and one state return.
  • $100 -- Individual Federal & State Tax Return (E-Filing of Paper Filing) with Schedules A&B.
    • Includes E-Filing. Allows for itemization (Schedule A) of mortgage interest, property taxes, medical expenses, charity; also allows for Interest Income and Dividend reporting (Schedule B). If you have one or both schedules, the price is still a basic $100.
  • $125 -- 1040NR for those who are nonresident aliens (usually, international students and those workers not wishing to declare their home country income). Does not include any schedules.

Added Schedules:

The above are the basic three individual tax filing packages. The most common schedules are below and are added extra fees to either of the two packages above. This list is not comprehensive.

  • $35 -- State filing - efiling or paper. (one state is already included in any of the 3 Federal packages).
  • $50 -- Local City and Tax Filings (for e.g., Cleveland, Philadelphia, etc.).
  • $50 -- W7 (ITIN) Application for EACH dependent who does not have a social.
  • $50 (simple) / $125 (complex) -- Schedule "C" -- this is for those who receive 1099-M income and are usually labeled as sole proprietors. (Also for single member LLC owners who have not elected "S-Corp" Status).
  • $60 -- Schedule E, Page 1 -- For those who own rental income properties and have to report income and expenses.  Includes one rental income property. (Also for single member LLC owners who own property in this LLC.).
    • $30 for each extra rental income property beyond the one  already included.
  • $15 (simple) / $25 (complex) -- Schedule E, Page 2 -- For those with K1 income from corporations and/or partnership income.
  • $50 -- Form 2106 Job Expense Schedule for any W2 taxpayer or spouse wishing to claim unreimbursed expenses as a result of being employed with their firm.
  • $10 -- Schedule D Stock and Mutual Fund gains/Losses (Unlimited transactions "ok"). Plus $1 for each transaction over 10 (max $50).
  • $50 -- Schedule H -- Nanny tax form.
  • $55 -- Form 8829 Home Expense Schedule Form.
  • $50 -- Form 4952 Margin Interest Form
  • $40 -- Form 8814 Parent's Election to Report Child's Interest and Dividends
  • $45 -- Form 8615 Tax for Certain Children with more than $1,500 in Investment Income
  • $65 -- Married-Filing-Separate Analysis, if needed.
    • If two separate returns are done for husband and wife, separate filing fees would be incurred for each return, in addition to the married-filing-separate analysis fee.
  • $30 -- Form 8606, for reporting nondeductible IRA contributions; only if you are a new client or if you have not reported it to us before. Otherwise, if you filed with us last year, no charge during filing time.
  • $60 -- Form 6781, for reporting gains and losses from straddles (usually foreign currency transactions).
  • $45 -- Form 8891 for reporting Canadian Retirement Plan accounts (gets efiled with return).
  • $95 -- Form 1116 for reporting Foreign Tax Credits and Carryovers.
  • $155 -- TDF 90-22.1 ("FBAR") Form for reporting of foreign account balances, be they savings, checking, fixed deposits, time deposits, life insurance cash value, foreign retirement accounts, stocks, bonds, mutual fund accounts, etc. (If your balances ever touched $10,000 or more in the year).
  • $195 -- Form 2555 for Foreign Earned Income (if you are living abroad for 11 months in any year, usually).
  • $155 -- Form 8938 -- New Form for 2011. (If your balances ever touched $50,000 or more in the year).
  • $195 -- Form 8316 for Requesting Social Security Tax Refund.
  • $195 -- Form 843 for Requesting Medicare and Social Security Tax Refund, or Penalty Abatement Request.
    • Full Fica Package for requesting social security and medicare tax refunds is $495, includes Form 8316, Form 843, 1040NR, and assembling package for IRS Fica Refund Dept.
  • $125 -- Form 8833 Treaty Based Position Form.
  • $595 -- 8621 Form Foreign Stock and Mutual Fund transactions on a foreign exchange in a foreign country.
  • $175 -- Form 720 for insurance premiums paid to foreign insurance companies. (India, Israel are exempt; UK is usually exempt in most situations).
  • $100 -- 1040X (Amendments for any reason). No charge if it is our request to do the amendment. Any new schedules added to the amendment incur the appropriate fees as mentioned above.

Business Tax Return Pricing               

  • $400 -- One S, C, or LLC Tax Return (one shareholder/member, including one other person). Includes one state filing whether that is an efiling or a manual paper filing.                   
  • $150 -- Each added state beyond the one already included. (Usually filed when you have income from clients/sources in those states).
  • Discount!  Individual returns for each member of the company will receive a $50 discount toward filing of their individual return.
*Extra Shareholders/Members beyond the two included can vary the pricing of the corporate tax return.  We will inform you of this during the filing of your corporate tax return.

To receive a formal quote, Call us @ t. 212.234.8333 or email us!


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