How Much Does Personal Tax Filing Preparation Cost
                     HOW MUCH 
DOES PERSONAL 
TAX FILING 
PREPARATION 
COST? 
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ABOUT
Well, nobody can run from their taxes. You are encircled in such a system that binds you to 
pay taxes for all the services taken. You can't hide from them. Besides paying the money, 
there comes the hectic personal tax filing process. Ergo, you can at least make the process 
easy. You can get someone else to do your taxes. 
• Yep, we're talking about taxes. 
• Finding a professional tax advisor may be our only chance during tax season for those 
who would prefer to spend our weekends at the park with the kids or anywhere else 
besides behind a desk with tax forms and schedules.
• How much will it cost you to have your taxes done by a professional? Let's investigate 
further to find out.
• Despite the unpredictability of life, some things never change, such as the requirement to 
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• You could be debating whether to use tax software to file your returns on your own or to 
pay a personal tax preparer to handle it for you as tax season approaches. The cost will 
most certainly have a big impact on your choice.
HOW MUCH DOES IT COST TO Despite the fact that the national 
FILE YOUR TAXES? average is a decent place to start, other factors affect the actual cost. Depending 
on your tax position, where you live, 
and the way a tax professional charges 
for their services, the cost of their 
services might range from $200 to 
$600.
If you're trying to find the best deal, 
speak with several tax preparation 
companies to get a sense of what they 
charge. According to your tax status, 
they can give you either an average 
price or a range of pricing even if they 
www.tottax.com might not be able to provide you a 
precise quote right away.
WHAT IS THE TOTAL COST 
OF A TAX FILING 
PREPARATION?
It takes a lot of work for personal tax filing. It 
includes submitting taxes, completing paperwork, 
and compiling receipts. For other folks, it can be 
too much.
According to estimates, tax preparation in the US 
runs between $300 and $400 per person. This 
covers the price of drafting documentation and 
submitting taxes.
There are numerous ways to cut this expense, like 
using an internet service or employing a tax 
preparer to handle the job.
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VARIABLES THAT AFFECT 
TAX PREPARATION COST
• There is no set cost associated with tax return 
preparation. At the same time, some tax 
preparers bill by the hour, most of whom 
charge a flat cost for each return. The cost of 
this service is affected by many variables.
TYPE OF RETURN
The price of preparation depends on the type of return you file. The average 
cost to prepare a Form 1040 with Schedule A to itemize deductions and a 
state income tax return in 2020, according to the National Society of 
Accountants, was $323; the average cost to prepare a Form 1040 with the 
standard deduction was $220.
• As you add schedules to your return, fees rise. For instance, on average, 
Schedule C costs for independent contractors and sole entrepreneurs 
were $192. There was an extra cost of $118 for Schedule D for reporting 
capital gains and losses. To disclose rental income and losses, Schedule E 
was charged a fee of $145. 
WHAT ARE THE BENEFITS OF HIRING A TAX 
SPECIALIST VS. DIYING YOUR TAXES? 
This is a question that many people ask themselves 
when they start preparing their taxes. There are pros 
and cons to both. Hiring a tax specialist can save you 
time and money, but it also comes with the cost of 
hiring an expert to do your taxes. DIYing your taxes 
can be cheaper and quicker, but you may have to hire 
an accountant or lawyer if something goes wrong with 
your return.
The decision is up to the individual on what they want 
to do, but as a general rule of thumb, hiring a tax 
specialist is often more beneficial than DIYing your 
taxes.
There are many benefits of hiring a tax specialist 
www.tottax.com overdoing your taxes yourself.
THANK YOU
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