INCOME TAX RETURNS
We are often asked by potential clients how much does it cost to get their tax preparation. To be honest with you, it varies. Even though there is a lot that goes into the cost I will do my best to explain the general factors that affect the pricing. Everyone wants to have the highest refund or the lowest tax liability possible (LEGALLY).
There are so many different tax deductions and credits that can be applied to your unique federal income taxes. Some tax laws are vague and we can apply it to the given situation. All Individual Income tax returns are filed on form 1040. Some people come to us and state all they have is a W-2, but they may take care of someone or have a child. At this point, they may qualify for Head of Household. Some questions need to be asked to verify if this is the right filing status for you. A mother or father may pay someone (not a child care facility) a few times a month or year to watch their child because they have to go to work. This is a tax credit that applies to you whether you claim the child or not as long as you are the one that pays that person directly. Things change even more depending on how old the child(ren) is or if he/she/they are in school/college or generates his/her/their income (ex. Child actors/actresses).
You may pay all of the bills at your parents’ house. You may be able to get a few more tax credits given the situation.
Income Tax Returns with W-2s and/or Head of Household filing status range from $150 - $350 per return.
Several other Schedules affect the cost of preparing income tax returns. The Schedules are A, B, C, D, E, and F. Schedule E: For People with a rental property, royalties, trusts, partnerships, S Corporation distribution, etc. Schedule D: Capital gains and losses normally from short-term and long-term investments.
Are you having success with your business but you don't have any Articles of Organization or FEIN? The question is always asked: Why should I legalize my business? The answer is BENEFITS! In order to grow your business, you must have a legal business.
Good Hands Financial Services will provide you with all of the documentation needed to have a legal business with the state you are in as well as an FEIN (Federal Employer Identification Number). Good Hands Financial Services can legalize a business in any state across the United States! This process will help open doors for your business and help you with organizational structure.
This process is starts with a general organizational setup. This can be formal or informal. Next, we register the business through the state in which your business is conducted and/or located (In some states it is required that the business reserve the name first before actual registration). Lastly, if not do so already, we apply for an FEIN.
The cost of this service starts at $260.