Fees

• Most services: We offer flexible pricing options to suit your individual and business needs. Our standard rate is hourly, providing you with the benefit of paying only for the services you need. We do our best to beat competitor pricing.
• Tax returns: Base fee plus adjustments for complexity.
• Extensions: We provide these services at no charge, except when an estimated tax calculation is required.
• All fees: Based on time and effort required; billed in 15-minute increments.
• No hidden fees: You only pay for the work done.

Important notes

• Fees may change yearly based on your tax situation.
• Fees are due upon completion of the tax return, even if you decide not to use it. Payment is expected within one week of receiving the "Return Ready" email.
• Use of our services constitutes agreement to our terms and conditions.

Tax Returns

Our minimum fees cover the standard time required for:

• Receiving and sending client information.
• Up to three rounds of communication about open items.
• Preparing the tax return.
• A brief review of the completed return (up to 15 minutes).
• Electronic filing or providing paper filing instructions.

Our efficient preparation processes allow us to complete basic tax returns quickly. Additional forms and services will incur extra fees. For complex returns requiring extensive consultation, we will bill our time at an hourly rate. This may result in higher fees, especially if resolving outstanding issues is time-consuming. While a limited number of exchanges are included in the base fee, additional communication may be subject to hourly charges.

Tax Preparation Base Fees

Note: The minimum fees listed below are starting points. The actual cost of most tax returns will be higher and depends on your income level and complexity of overall return.

U.S. Resident Returns:

Form 1040, (Schedules 1-3 only) plus 1 State Return: $120 and up

Foreign Bank Report: starting at $100, increases based on number of accounts and number of FBARs needed.

U.S. Expatriate Returns:

Form 1040 with Form 2555 (state return minimum $100 extra; not included): $120 and up

Form 1040 with Form 2555 (exclusion of income) & one or two entries on Form 1116 (foreign tax credit): $300 with additional charges for more 1116 entries

Foreign Bank Report: starting at $100, increases based on number of accounts and number of FBARs needed.

U.S. Nonresident Returns:

Form 1040NR: (state return minimum $100 extra; not included): $120 and up

Dual Status Return (first year in U.S.): $240 and up

Dual Status Return (last year in U.S.): $240and up (may be a bit lower if especially simple)

U.S. Company & Entity Tax Returns (Forms 1120, 1120S, 1065, 1041):

Corporation (C or S), Partnership (or multiple member LLC), or Trust returns for one state start at $400 for basic returns with clear, organized financial records. Fees can increase significantly based on return complexity. Accurate and complete accounting records are essential for efficient tax preparation. Resolving accounting issues is a separate service billed at $150 per hour. Preparing state or city extension forms requires additional time and will incur extra fees.

Additional Forms:

Schedule B with multiple accounts, foreign tax credits, time spent calculating federal and/or state tax exempt interest and dividends

Schedule C/SE for self-employment: $85 and up

Schedule D:  Fees depend on number and complexity of trades or other sales

Schedule E for rental income: A standard fee of $50 applies per property. Additional charges may apply if a detailed review of your HUD statement is necessary to determine cost basis or if your property has other complexities

Schedule K-1 income:  A simple K-1s may range from $25 to $50, while more complex ones can cost between $75 and $200 or even more.

Form 8938 based on number of accounts.  $100 minimum.

Extra states:  A standard fee of $50 applies for each basic form. Additional charges may apply for part-year forms or those requiring more complex calculations.

Other Factors (most of these are billed according to time required):

Subsequent revisions to the tax return can significantly increase fees due to the time required to re-familiarize with your financial situation, especially if there are extended periods between updates. Factors such as numerous email exchanges to gather information or preparing the return based on preliminary estimates (e.g., estimated K-1s, income, or expenses) that later require adjustments can contribute to additional charges.

Tax Preparation Fee Includes:

• Preparation of your tax return, including initial information gathering via email.
• Review of the completed tax return (up to 15 minutes; additional time billed).
• Filing a tax extension, if necessary (excluding cases requiring complex calculations or incomplete information).
• Brief tax-related inquiries via email throughout the year.
• Correction of any errors made by us.
• Preliminary review and explanation of tax notices.
• Provision of necessary supporting documentation.

Tax Preparation Fee Does Not Include:

• Extensive revisions to the tax return due to client-provided inaccuracies or incomplete information.
• Assistance with tax audits or inquiries not resulting from our errors. (We will provide a basic review of notices and answer brief questions at no charge.)
• In-depth tax consultations or representation.
• Initial consultations, are typically unnecessary due to the tax questionnaire and email communication. If requested, these consultations will be billed at our standard hourly rate.

Note: We do not offer phone consultations with tax authorities or in-person audit representation. However, we can assist with organizing written correspondence and providing general guidance.

Fee Estimates

I believe the information provided above offers a clear understanding of potential fees. However, if a specific fee estimate is necessary before commencing work on your tax return, please submit all relevant tax documents along with a completed Tax Questionnaire to inquiries@fastcpa.net and clearly indicate "NEED FEE ESTIMATE" in your email. Please note that preparing an estimate is time-consuming and may take several days.

While I strive to provide accurate fee estimates, it's important to understand that unforeseen complexities or missing information can arise during the preparation process, potentially affecting the final fee. I will promptly inform you of any necessary adjustments to the initial estimate. In some cases, the final fee may be lower than the estimate if the work involved is less extensive than anticipated.