Depending on a variety of variables, including the complexity of the tax return, the size of the firm, the volume of transactions, and the level of support needed, the price of tax preparation by a CPA for a small business might vary. For a small firm, a CPA’s tax preparation services often cost $500 to $5,000 or more.
The price of tax preparation by a CPA may be in the lower range of the estimate for a simple small business tax return, but it may be in the higher range of the estimate for a more difficult tax return with many businesses, foreign investments, or sophisticated deductions. Furthermore, some CPAs bill by the hour, while others might charge a flat fee or a percentage of the tax savings.
To obtain a more precise estimate of the cost of tax preparation, it is crucial to talk with a CPA about the specifics of your small business. Numerous CPAs provide free initial consultations during which they can estimate their fees in accordance with the nature of the work involved.