Tuesday, December 18, 2007

TAX PREPARATION SURVEYS

I have come across two recent surveys related to tax preparation.
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* The National Society of Accountants biennial survey of nearly 8,000 qualified tax preparers showed that average tax preparation fee for an itemized Form 1040 with Schedule A and a state tax return increased less than 2 percent during the past two years -- rising from $201 to $205.
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The average fee charged by tax pros for an in the Middle Atlantic region (NJ, NY, PA) was $209.
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The average cost to prepare a Form 1040 and state return without itemized deductions was only $115, up from $110 two years ago.
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Most accountants bill on a flat-fee basis for tax preparation, with some billing on an hourly basis. Hourly fees for tax services average $122.12 nationally. The Middle Atlantic (NJ, NY, PA) average was $139.07
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* Bankrate, Inc. commissioned GfK Roper to conduct a random survey of Americans' attitudes about taxes. The survey found that sixty percent of Americans think the tax system is skewed to benefit the rich. Furthermore, three in ten Americans disclosed that they feel clueless about tax preparation and planning.

BTW, you can click here to read a copy of the letter I have sent to my representatives in Washington concerning their irresponsible behavior regarding the AMT fix.
While I have you - I would like to hear a "review" of the recent NJ-NATP breakfast seminar from anyone who was there. In hindsight perhaps I should have chosen that instead of the NSTP year-end seminar in Atlantic City.

TAFN

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