Our Tax Preparation Fees
According to a survey by the National Society of Accountants (published on January 27, 2024), the average cost of professional tax preparation for a simple Form 1040 (no itemized deductions) and a state return was $176. Adding Schedule A, Itemized Deductions, increased the fee to $273.
The national average for Form 1040, Schedule A, Schedule C (for those who are self-employed), and a state return was $457. Additionally, the average fee charged for clients with disorganized or incomplete information was $117. That's on top of other preparation fees.
Cornerstone Financial Planners will enact the following fee schedule for the 2024 tax filing season (2018 tax returns). One state return is included with each individual return.
- Form 1040EZ: $60
- Form 1040A: $75
- Form 1040: $100 (The national average was $176 in 2024.)
- Form 1040 plus Schedule A: $135 (The national average was $273 in 2024.)
- Form 1040 plus Schedules A and C: $175 (The national average was $457 in 2024.)
- Form 1120S: $120 (The national average 2as $809 in 2024.)
- Form 1065: $110 plus $35 for each state (The national average was $656 in 2024.)
- Form 1041: $150 plus $35 for each state (The national average was $482 in 2024.)
Of course, there are many forms that might be included in a tax return that are not listed above. Here are some of the more common forms and our fee for each:
- Schedule D: $20 plus $1 per transaction on Form 8949. Discounts are given for transactions provided electronically. (The national average was $124.)
- Schedule E: $25 per property or Schedule K-1 (The national average was $135.)
- Form 2210 (Underpayment of Estimated Tax): $35
- Form 2441 (Child and Dependent Care Expenses): $20
- Form 8283 (Noncash Charitable Contributions): $10 per donation (required when total non-cash donations exceed $500)
- Form 8812 (Child Tax Credit): $10
- Form 8829 (Business Use of Your Home): $35
- Form 8863 (Education Credits): $20 per student
- Form 8962 (Premium Tax Credit): $20
- Form 8965 (Health Coverage Exemptions and penalty calcuations): $25
- Schedule B (Interest and Dividends): $30
- Schedule EIC (Earned Income Credit): No charge
- Additional state tax returns (first state tax return is free): $35
- Electronic filing: No charge
As of 2024 , the average price for Form 1040 plus Schedule A and one state return was $147 at H&R Block or $191 at Liberty Tax Service. Four years later and Cornerstone's fees are still lower than either H&R Block or Liberty Tax Service. Jackson Hewitt does not disclose their average fees.
Our fees are among the lowest in the nation: 8% less than H&R Block's 2024 prices, 30% less than Liberty Tax Service's 2024 prices, and 50% less than the national average.
If you have questions, feel free to call us or click the "Contact Us" link above.