According to IRS statistics, 63% of individual income tax returns are filed by outside tax preparers on behalf of their clients. This is due because of the complexity of our tax code and the strong value in having a professional calculate the tax liability. In Minnesota CPA’s are required to obtain an average of 40 hours of continuing professional education (CPE’s) each year as a condition of their license. Included is 8 hours of CPE’s in ethics; a requirement not borne on non-professional preparers.
Here are some facts:
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The average cost of preparing a federal and state tax return, including itemized deductions in Minnesota is $208. An increase of only 2% over the past two years. That is far less then the rate of inflation.
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Ideally, tax preparers should either be a certified public accountant, a tax attorney, or an enrolled agent.
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Clients who provide documents in an organized fashion and schedule an appointment early, will generally see reduced tax preparation fees. Unorganized records or those taxpayers who fail to bring necessary documents to their tax appointment can expect to pay a higher fee.
When engaging someone to prepare your tax return, you should consider other factors. How long has the preparer been in practice? Does the tax preparer practice year-round or only until April 15th? Is the preparer able to represent you before the IRS in all tax matters? Is the preparer affiliate with any professional organizations? Does the preparer provide you with an engagement letter outlining what services will be performed and when you can expect delivery. Consider looking for a professional early; one with a good track record of providing quality service.
Take a few moments and tour of my website. It is not only loaded with news, facts, articles, calculators and forms, it provides you with information my practice, associations, and services.
I will provide you with the best product possible at a reasonable fee. Having partnered with the largest accounting and tax software company in the world, you can rest assured we will have the resources to meet your needs.
High maintenance will not result in low fees. Finally, here is how I can keep your fee at a minimum without sacrificing quality. Begin by completing our online questionnaire, By doing so, you can enter a little bit each day, and when it is finished, you simple mark complete; the return is sent to Thomson Data Center and at such time, I receive an email to process your return. Because you have entered all the information, I need only import the data, send it through our review process, and email a draft for your review. Upon acceptance, your return is either e-filed or mailed to the proper taxing authorities. A final copy can be either mailed or emailed to you. It’s that simple. As we moved toward a paperless environment, all your information can be stored in an electronic file cabinet that is accessible to your 24/7. And the beauty of it all is you don’t have to worry about hard drives that crash, outdated information, or accessibility. It’s wherever you have internet access.
What should matter the most when shopping for a tax preparer is service, quality, and accessibility. Let us help you this tax season. Our future depends on your satisfaction.
Sincerely,
Steve Mangan
