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Benefits of Hiring a CPA

“But my return is simple. A CPA will be too expensive”.

How to Defer Your 2020 Tax Payments

Some factors to consider:

  • Having your returned prepared by a franchise tax office such as Liberty Tax or H&R Block is no bargain.
  • Many franchise office returns are prepared by an employee with as few as 50 hours of classroom instruction and 21 hours of online course work.
  • And if you have questions in July, the office will likely be closed. However, the average fee for a return prepared by H&R Block in 2013 was $198 and $180 for Liberty Tax. Additionally there may be more fees for “audit protection” and electronic filing.
  • Having your return prepared by a CPA firm is also not as expensive as you might think.
  • The average cost of a 2013 Federal from 1040 with Itemized deductions and a state return was $261 according to a survey by the National Society of Accountants.
  • Fees for non-itemized returns were even lower with an average of $152.

The Cost Analysis:

The survey also reported the average fees for preparing other Internal Revenue Service (IRS) tax forms, including:

  • $218 for a Form 1040 Schedule C (business)
  • $590 for a Form 1065 (partnership)
  • $806 for a Form 1120 (corporation)
  • $761 for a Form 1120S (S corporation)
  • $497 for a Form 1041 (fiduciary)
  • $142 for Schedule D (gains and losses)
  • $165 for Schedule E (rental)
  • $196 for Schedule F (farm)

The average cost for a Federal 1040 with Itemized deductions and a state return in the West South Central Region (AR, LA, OK, TX) was $242.

Our Promise to You:

  • At Joseph P. Norman CPA we have over 75 years of accounting and tax experience. We believe our fees are very competitive and appropriate.
  • If you have any questions about your bill please don’t hesitate to ask and we will explain the factors that were considered when determining your fees.
  • We appreciate your business and always strive to provide knowledgeable, prompt, and reliable service.
  • If you feel we have let you down in any regard please let us know so that we can address your concerns and achieve a resolution that will benefit all parties.
  • We understand that responsiveness and personal attention to every client are critical to our shared success.
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