April 5, 2015

Average CPA Fee for Tax FIling is $273

My wife and I haven't gotten our taxes done yet but we're working on it.   We hire a CPA to do our taxes for a few reasons.  1, I'm lazy, 2, the forms are complicated with Schedule A, D, E,  covering multiple rentals and stock purchase and stock incentive options at my job, 3. I'm lazy, and 4, we can deduct some of the CPA fee as a rental expense.   Still its pretty pricey and I question if I should just stop being lazy and do it myself.   Maybe next year.

We pay around $500 a year for our taxes.   Thats a hefty sum.   But apparently its not far off the averages.

According to the National Society of Accountants the average cost for preparing a typical 1040 with Schedule A and state tax form is $273.

The NSA website has more details on costs and breaks it down by region and costs for additional forms.     They also have an infographic.

In the Pacific states area where we live the average is $348 for that kind of form.   Plus we've got schedules D & E on top of that which average $115 and $126 respectively.     Added up the average cost for a filing like  ours seems to be more like $589 total.

Its good to know I'm not over paying compared to typical fees.   But it doesn't make me feel all that much better when I write the check to the CPA.

I'd say unless your taxes are particularly complex (like ours) then you're best to just use tax accounting software and file on your own.   That is certainly cheaper than hiring a CPA and most peoples taxes are easy enough to do with computer software.  


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