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How Much Does Small Business Tax Preparation Cost

August 18, 2018

Regardless of size, filing taxes is a yearly event for every business. Did you know your small business tax preparation cost can be more expensive than you calculated? The costs vary greatly, from a couple of hundred dollars to thousands of dollars. Several factors contribute to the cost of filing federal taxes. That is why there is no definite answer of how much small business tax preparation will cost you. Below are some typical costs and additional costs for tax preparation for your small business.

Typical Costs

Some of the typical costs associated with tax preparation for small businesses includes administrative services. These are often considered the most expensive costs according to the National Small Business Association (NSBA). Of course, these charges will vary depending on the complexity and size of the business. The frequency of preparation also plays a part in determining the costs. For example, preparing monthly, quarterly and annual payroll tax forms have different fee schedules. Moreover, your ability to keep accurate records along with your tax preparation methods can also determine the administrative fees you pay. At Halon, we offer three packages, none of which exceed $559. To help save you even more time and money, we also offer bookkeeping and more.

Additional Costs

While you might know and prepare for the typical costs such as administrative costs, the additional costs can sneak up on you. Depending on the tax preparer you choose, you might find that they also charge for minor additional services. For instance, they could bill you at a full hourly rate for phone calls and questions beyond a set amount. If you have a lot of questions, this could add up quickly. You want to have your financial records and questions as organized as possible in order to minimize these fees.

At Halon, our software can prepare your tax returns from several bookkeeping options. For example, if you use QuickBooks Online, you can provide our team access to the software and most of the work will be done automatically. Likewise, Xero software works in the same manner if you use Halon.

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Shopping for Business Tax Preparation

Several aspects affect how much small business tax preparation cost. When you choose Halon, a member of our CPA Tax Team reviews for accuracy, deduction risk, and strategies. All of this offered at no extra cost. With our Pro and Elite Packages, you also meet with the CPA tax team for a deeper review.

Preparing for the typical costs of tax preparation is vital. However, to keep your costs at a minimum, you also need to keep thorough records and be aware of any additional costs. Even though it seems impossible to know exactly how much you will pay for tax preparation, this is not the case at Halon. We take the additional costs out of the tax preparation picture. Most of our users finish in less than five minutes! If you’re ready for a simple, less expensive way to file taxes for your small business, visit us online at our website.

Christopher Ragain, CPA

Christopher Ragain, CPA is the founder of Halon Tax and one of the industries top authorities on micro-business taxation and tax planning.

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