How much should you pay to file your taxes? According to a new survey from the National Society of Accountants, the mean cost of preparing a non-itemized 1040 is $110. If you add in a Schedule A, that cost jumps to $201.
Where you live makes a difference. In the Midwest, filing a non-itemized return will cost you $96. In the Northeast, South and West, you’ll pay $111 to $116 for a non-itemized return.
Here’s the mean cost for preparing other types of tax returns:
- $165 1040 + Schedule E
- $207 1040 + Schedule F
- $477 1065 (Partnership)
- $640 1120 (Corporation)
- $386 1041 (Fiduciary)
- $1,732 706 (Estates)
- $499 990 (Tax Exempt)
Electronic Filing Fee: $23 (even if you file for free on your federal taxes, you’ll pay to file your state taxes electronically)
Hourly fees for accountants (for tax services) $109
Estate and financial planning hourly fees $123
March 7, 2006