Bookkeeping & Accounting
Quickbooks setup or Quickbooks error correction can be one of the first steps a business needs to start tracking their income and expenses. Quickbooks setup starts around $250 and can be up to $450 for more complex companies structures.
Running payroll is a necessary obligation if your business wants to be in compliance. Payroll errors can be extremely costly. Penalties may not be resolved even in bankruptcy proceedings. Payroll setup starts at $100 and can be up to $490 for more complex business structures.
Monthly bookkeeping includes bank accounts reconciliations, for the most part. Basis bank reconciliations for accounts that don’t have more than 50 transactions per month is around $70/each. Additional transactions that include research FASB or IRC are at additional prices. Most monthly bookkeeping services run from $200 to $500/month.
Individual & Business Taxes
Individual taxes include the usual 1040. If you have a small business or a rental it may be included in the 1040 under a Sch. C or a Sch E. Prices for a 1040 start at $250 (very basic 1040). Additional schedules/ forms are an extra $50. Discounts may apply.
Foreign disclosures are a very complicated topic in taxation. It doesn’t make it easier to know that penalties for incorrect disclosures are very severe. For example, a missed form 5472 can be penalized by $25,000/year. Prices for foreign disclosures are higher, because several professional are doing the work. Foreign disclosures prices start at $1,200.
IRS Problems Resolutions
Offer in Compromise covers:
- evaluating your situation,
- getting transcripts from the IRS,
- deciding if the taxes owed accessed by the IRS are incorrect and need to be disputed,
- deciding if you qualify for an application to settle the debt for a lower amount,
- filing the necessary paperwork,
- communicating with the IRS.
Prices for the Offer in Compromise start at $5,000. Discounts may apply.
Profit Loss Prepared by the client
Foreign Bank & Financial Account Reporting (FBAR)
Information Return of U.S. Persons with Respect to Certain Foreign Corporations Reporting
$500-$1,950 per year
Price may vary depending on complexity.
Information Return by a Shareholder of a Passive Foreign Investment Company Reporting
$350-$400 (Per Fund or Account)
Statement of Specified Foreign Financial Assets Reporting
|5472 form||1120 as a transmittal or 5472 as part of 1120|
Price may vary depending on complexity.
Non-profit tax return
|1040-X tax declaration||Amended US Individual Income Tax Declaration||$275-$350|
|Most recent prices per form. Prices vary based on circumstances.|
|PRICE LIST 2021 Tax Season|
|Form 1040 U.S. Individual Income Tax Return|
|Form 1040 with a Schedule A and state return||325|
|Form 1040 (non-itemized) and state return||220|
|Schedule C (business)||195-200|
|Schedule D (gains and losses)||120|
|Schedule E (rental)||150|
|Schedule F (farming)||220|
|Child and Dependent Care Expenses||20|
|Earned Income Credit||20|
|Interest and Ordinary Dividends 1099||10|
|Distributions from Pensions 1099-R||15|
|Health Savings Accounts||20|
|Health Coverage Tax Credit||10|
|Additional Medicare Tax||10|
|Net Investment Income Tax||15|
|Schedule C Profit or Loss from Business||75|
|Form 4562 Depreciation and Amortization||35|
|Form 8829 Expenses for Business Use of Your Home||20|
|Form K-1 Partner’s, Shareholder’s, Beneficiary’s Share||25|
|Schedule D Capital Gains and Losses||10|
|Form 8949 Sale and Other Disposition of Capital Assets||10|
|Form 4952 Investment Interest Expense Deduction||10|
|Form 4797 Sales of Business Property||15|
|Form 8582 Passive Activity Loss Limitations||10|
|Form 1116 Foreign Tax Credit||10|
|Form 2555 Foreign Earned Income Exclusion||15|
|Form 5471 U.S. Person with Certain Foreign Corps||250+||500+|
|Form 8938 Specified Foreign Financial Assets||100+||250+|
|Form 8824 Like-Kind Exchanges||75|
|Form 3115 Application for Change in Accounting Method||75|
|Form 1040X Amended Income Tax Return||100|
|State Returns State Tax Returns||50|
|Form 1065 (partnership)||additional forms +||650|
|Form 1120 (Corporation)|
|Balance Sheet, Profit Loss||additional forms +||850|
|Form 1120S (S Corporation)|
|Balance Sheet, Profit Loss||additional forms +||800|
|Reconciliation of transaction||under 500||350|