Pricing

Tax Preparation Pricing

Pricing below is an estimate and is based on the typical time to complete the more common tax forms. Your final fee will be based on complexity and may be more or less than the amounts shown below.

Form 1040 with One State

$200 - $300

Basic tax preparation includes:

Income documents: Forms W-2, 1099-R, SSA-1099, 1099-G
Standard Deduction and non-Itemized deductions
Child Tax Credit & Dependent Care Tax Credit
Free Basic Tax Planning and Questions (see below)
Add additional Forms, Schedules, and Credits below to complete your filing

All Clients, please complete our annual Tax Organizer

Tax Preparation for Dependents

$30

Flat rate for dependent tax return preparation
Add $50 for returns requiring the Kiddie Tax
Regular Self-Employment rates may apply for returns requiring Sch C (self-employment)
Once a child no longer qualifies as a dependent, regular rates apply

IRS and State Tax Credits

$50 - $100

Each tax credit may have a separate fee:

American Opportunity Tax Credit
Lifetime Learning Tax Credit
Residential Energy Tax Credit
Maryland Senior Tax Credit
Electric Vehicle Tax Credit
Form 1095-A, Premium Tax Credit

Schedule A - Itemized Deductions

$100 - $175

Mortgage Interest
Real Estate Taxes
Charitable Donations
Charitable Mileage
Vehicle Donations
Medical Expenses: Medical Insurance, Long Term Care Insurance, Out of Pocket Medical Expenses, Medical Mileage

Schedule B - Interest and Dividends

$0 - $75

Bank interest income (Form 1099-INT)
Qualified and Unqualified dividends (1099-DIV)
Capital Gains Distributions (1099-DIV)

Schedule C - Profit or Loss from Business

$200 - $500

Pricing depends on complexity. Use our Self-Employment organizer to report your income and expenses.

Sales totals and deductible expenses by category
Auto Deduction: Mileage or Actual Expenses
Home office deduction (simplified or regular method)
Self-employed health insurance deduction
Self-employment retirement (Solo 401k/SEP/SIMPLE)
Tax planning to help pay quarterly estimated taxes
Corporate Transparency Act reporting (as needed)

Schedule D - Capital Gains and Losses

$25 - $200

Pricing depends on complexity, number of brokerage accounts, capital gain/loss activities:

Short term and long term capital gains/losses
Capital loss carryover
Virtual currency transactions
Primary residence home sale (including gain exclusion)
Kiddie Tax on Dependent children's unearned income
Foreign Tax Credit Form 1116

Schedule E - Rental Income

$125 - $200

Please use this Rental Organizer

Rental income and expenses
Add $100 for a rental purchase or sale

Form 1095-A Health Insurance Marketplace Statement

$50 - $100

Form 1095-A is used to reconcile your Premium Tax Credit

Multi-State or Part-Year Resident Returns

$70 - $150

Fee is per additional state and depends on complexity

Individual and Small Business Tax Planning

Current 1040 Tax Clients

$100 / hour

Up to 30 minutes of planning is no charge for current year (paid) clients. Typical questions/scenarios include:

income and tax projections with withholding adjustments to avoid big tax bills
general tax questions: tax implications of marriage, buying a home, children, etc
retirement tax planning: RMDs, Roth conversions, etc

Non-Current 1040 Tax Clients

$250 / hour

Same as above; $100 of your planning fee applies to the following year's tax preparation fee

Small Business Tax Planning

$250 / hour

Typical questions/scenarios include:

starting a new small business or rental activity
entity selection pros and cons (e.g., LLC vs S Corp)
general compliance: payroll, tax reporting, etc
self-employed retirement options
and much more!

Maryland Tax Service, Inc.

Individual and Small Business Tax Preparation

We Provide CPA Oversight of All Tax Preparation