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Updated over 6 years ago,
Tax preparation costs for business+ individual
Ok, so I got my tax prep bill and I think its way high. For discolsure, my accountant had to file 5 forms:
1040 US tax ind return
1040-ES Estimated Tax
Kentucky Ind tax
Kentucky Est tax
Kentucky Single member LLC tax return
For that he charged me a flat fee of 1 grand. I thought it was a hair high but not awful. Where he really got me was billing for 1.8 hours for several emails we exchanged throughout the year. He hit me up for an additional $526 there.
Now, keep in mind I have nothing complicated but I do have two 1040s, one W2, and my miscellaneous income from 9 rental units. But each of those will be spelled out in PAINSTAKING detail on a form I filled out and I had itemized receipts of everything. My most complicated itemized deductions are my SEP IRA, HSA, and charitable deductions, but it is literally all numbers listed clearly on a ten page form I fill out, and it's literally plug and play for him.
Please advise if $1526 for tax filing and tax planning seems high compared to anyone else, especially in a "cheap state?"
Thanks!