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Fees and Policies
Our hourly rates for tax services are based on the following:
International and Business Tax Services: $450 per hour
As a result of increased complexity of US international tax legislation and IRS enforcement to close the international tax gap, combined with increasing costs associated with training and general overhead we have been forced to reconsider our billing rates for the first time in several years.
Basic tax returns for U.S. expatriates and foreign nationals working in the U.S. who have only compensation income and minimal investment income usually average between $950-$1,500. More complex returns, including those with numerous stock sale and investment transactions require additional time. Maintaining good organized records helps to minimize fees. Often first time international clients, especially returns for the first or last year of their international move, require additional time. Certain client discounts may be available.
Domestic Individual Tax Services: $325 per hour
Increased overhead costs including additional fees and training requirements associated with recently enacted tax legislation, treasury regulations and IRS rulings and requirements have forced us t reconsider our billing rates for the first time in several years.
A basic “itemized” return will usually run between $325 and $500, depending on the volume of information that is required to be reported on the tax return. More sophisticated returns with voluminous information, including numerous investment or stock sale transactions can be substantially higher. Maintaining good organized records helps to minimize fees. Those who stuff everything in an envelope or shoe box without organizing their information will be charged for the time it takes to organize their information before the tax return is prepared, regardless of whether or not it is incorporated into the tax return. Certain client discounts may be available.
Business Tax Returns: $450 per hour
Increased overhead costs including additional fees and training requirements associated with recently enacted tax legislation, treasury regulations and IRS rulings and requirements have forced us t reconsider our billing rates for the first time in several years.
There is a minimum fee of $2,500 for all corporate or partnership tax returns (including the state return), plus reimbursement of out of pocket expenses for any special tax software or other extraordinary expenses. Certain client discounts may be available.
Our fees are based on the level of complexity of the tax issues and the time required completing the project or tax return. We do not charge by the form or offer contingency fees based on results or a percentage of refunds. Fees are due at the time that services are performed* and for projects that are expected to take more than two hours, a retainer is often required prior to doing any work.
* Major credit cards are accepted and arrangements can be made for clients to authorize in advance ACH payments from their accounts at a future date, usually on the date that a tax refund is directly deposited to their bank account. It is prohibited by law for any tax preparer to negotiate tax refund checks, including having clients instruct that a portion of their refund be deposited to their tax preparer’s bank account.
In certain circumstances discounts are available and often fees are waived during the initial interview phase as we gather information from new clients to ensure that they fit our client profile and they get to know us. During this process information is exchanged but without being formally retained we cannot give specific tax advice. The initial “get to know you” phase usually requires 15 minutes of face to face or telephone interview time or an exchange of 2-3 brief emails. Discounts are also usually extended to parents who request that we prepare their children’s income tax returns.
People often ask what we would charge for a “basic” tax return. This is often difficult as what a non tax person considers basic may involve additional time based on discovery of information gained during the due diligence phase or once we receive actual information.
Our Client Policies and Profile Criteria
A word concerning our client profile criteria. We will not accept verbal instructions to include deductions “the same as last year”. Clients are provided a basic tax organizer intended to assist them to gather the information that needs to be reported on their tax returns. This organizer includes a statement that must be signed by every client attesting to the accuracy of the information provided, either verbally or in writing, and that they have included all items of income received during the year and that to the best of their knowledge is accurate and complete.
If during the interview process it is indicated that they earn money or that they pay business help “off the books” we will refuse to accept them as a client even though afterwards they may indicate that they want to report these transactions. Additionally we may have other reasons for questioning their integrity or determining that they do not meet our client profile. Although we may refuse to accept them as a client, a consultation fee will be due for the entire interview time and any documents provided will be withheld until such time as the fee is paid. This policy is intended to discourage those either shopping for free information or finding someone willing to assist them to circumvent tax laws or mislead lending or other institutions.
Privacy and Confidentiality:
Please don’t ask us to discuss your tax return or release copies of personal documents to anyone, including potential lenders. Every client is provided with copies of our work including tax returns prepared by us and original documents are returned. Although we are required to maintain copies of certain documents including copies of tax returns in our files, it is your responsibility to keep your documents safe should you need these in the future and we cannot release any information in our files to (or discuss such information with) a third party, even with your permission.
Tax Audits and Tax Authority Inquires:
It is our policy that we be named as an authorized third party designee for all tax returns that we prepare. This gives the IRS and state tax authorities permission to discuss your tax return with us and for us to assist in any examination. Prior to discussing anything with the tax authorities you will be notified. In the unlikely event that the issue concerns an error that we may have made we will not charge for our time. However, if the return is being examined for compliance or missing information that was not provided by you at the time that we prepared the tax return, our time willed be billed at an hourly rate based on the nature of tax at issue and often an engagement letter and retainer may be required. Should a penalty result from an error that we made, we will reimburse the penalty amount.
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