According to a survey by the National Society of Accountants (NSA), the average cost for an itemized Form 1040 with Schedule A and a state tax return is expected to increase 6 percent from last year. The average customer can expect to pay anywhere from $208 to $303 depending on what state they live in. Some accountants say the price hikes have to do with the increased complexity of tax forms due to the Affordable Care Act. Others note that the increase is pretty standard to keep up with rising operating costs.
The survey also found that almost 90 percent of accounting firms offer free consultations to prospective clients and 60 percent do not require payments at all until the returns are completed and the customer satisfied. However, many said they would charge fees on a graduated scale if information was not provided on time.
With the average price set at $261, how does your firm compare?