Individual & Estate Tax Preparation and Planning
Q: How much will it cost to prepare my tax return?
A: There is no standard flat fee for preparing a tax return, however it is based upon the work required to complete the return. The hourly rate billed by our firm is $215 per hour. The typical cost of a 1040 return that itemizes deductions with a nominal amount of interest & dividends for 2021 was $350 – $375.
Each return is different, and the cost will vary due to items on the return such as itemized deductions, self-employment income, rental property activity, and stock & investment activity.
Q: Do I need to make an appointment for your firm to prepare my tax return?
A: In most situations an appointment is not required for us to complete your tax return. If there are extraordinary circumstances or some items that need explaining in more depth, an appointment may be necessary. In most situations questions can be resolved by either phone or email correspondence.
Q: I have heard a lot about e-filing. Does your firm offer this service, and does it cost extra?
A:Yes, our firm does offer the ability to e-file your return, and will do so at no extra charge. All returns processed by our office will be filed electronically unless specifically directed by the client to file on paper.
Q: I lost my tax return or am away from where I have it filed. How can I get a copy? How much does it cost?
A: The best place to access your tax returns and related documents would be through your client portal. There is no fee for downloading the copy available through your client portal. Our firm can provide, for a fee, a duplicate copy of your return which you may receive by either regular mail, email, fax, or pick-up at our office. The fee charged for a copy of a tax return is $50 per return.
Business Accounting & Tax Preparation
Q: I have a corporation or partnership; can you provide tax services for my business? What is the cost for preparing a business tax return?
A: Yes, our firm can prepare tax returns for your business regardless of the entity structure. As with the personal returns there is no flat fee but rather based on the time it takes to complete the return preparation at the current rate of $215 per hour.
Q: I have employees can you file the payroll reports for my business? How about Workman’s Compensation Insurance audits?
A: Yes, our firm can file reports for your business relating to payroll & sales tax. These reports are required to be filed with governing agencies at different intervals depending upon the size of your business and the volume of the transactions. The fee structure for filing these reports varies with the frequency the reports need to be filed and the amount of employees or sales during the specified period.
Each year insurance companies will preform audits to be sure that they are charging the correct premiums for the policies in effect. Our office will work with the auditor assigned to review and provide the information required to complete the audit. The average fee for completing a general liability or workman’s compensation audit is $150 per audit.
Q: I received a notice from NJ about filing my annual report for my corporation or LLC can you do this for me?
A: Yes, our firm can complete the NJ annual report filing for your corporation or LLC. The annual report filing cost for preparation is $75 per year. Additionally the fees charged by the State of New Jersey will be debited from the bank account we have on file for your company.
Additional Financial, Notorial, & Filing Services
Q: What other services can your firm provide me with?
A: Our firm can provide other services both tax and non-tax related. Some of these services are:
- Tax returns and accounting for estates, inheritances, & trusts
- Projections and strategies to mitigate future tax liability
- Assistance with IRS & state letters and notifications
- Filing of property tax rebate forms
- Notary services
Q: I received my property tax rebate form in the mail, can your firm complete this for me? How much will it cost?
A: Our firm will complete any of the property tax rebate forms that get sent throughout the course of the year; such as the NJ ANCHOR (Homestead) Rebate or NJ Property Tax Reimbursement (Senior Freeze). The cost of completing these rebate applications is $75 per return, but as with other services some may cost a little more.
Q: How much does it cost for your firm to notarize a document?
A:The cost of notarizing a document is $2.50. This fee is waived for our current tax clients.