 | Computer with a modem (one-time purchase) |
| Printer (one-time purchase) |
| Cabling (one-time purchase) |
| Power supply (one-time purchase) |
| Income tax software |
| Time needed to select income tax software (1 hour) |
| Time needed to install and setup software on your computer (1.5 hour if
you do not encounter any computer problems) |
| Time to troubleshoot tax software not working correctly (2 hours) |
| Time needed to learn the software and any new features (1 to 2 hours) |
| Enter information from your records (1, 5, 10, 20, plus hours depending on
the complexity of your records) |
| Time to research tax questions (1, 5, 10, 20, plus hours depending on the
complexity of your records) |
| Time to research problems with your tax software carrying/not carrying
numbers to the correct location (1, 5, 10, plus hours depending on the
complexity of your records) |
| Cost for getting tax help from a CPA (if you can't find answers to your
tax questions) |
| Time needed to find state or federal tax forms not included in the tax
software, you may have to file in two or three states (1 to 3 hours) |
| Preparing your tax return to file electronically (.5 hour) |
| Cost of filing your tax return electronically (if not sending in printed
copy) |
| Print your tax returns (.25 hours) |
| Print extra copies of your tax return (.25 hours) |
| Cost of paper and ink |
| Prepare the envelopes for your returns |
| Worrying whether or not you put the information in the correct location in
the tax software (.5 hour) |
| No guarantee that your tax return was prepared properly, you are liable
for any interest and penalties on tax return mistakes. |
TOTAL ONE-TIME COST ESTIMATES: $1,000 - $2,000
TOTAL ANNUAL (REPEAT) COST ESTIMATES: $60.00 - $250.00
TOTAL ANNUAL COST OF YOUR TIME: (8,10,20,30 . . . HRS)
PRICELESS
But, I Enjoy Preparing My Own Tax Returns?
If this is true we would encourage you to submit a resume to us. Most
individuals do not care to prepare their own taxes, they seem to find more
enjoyable ways to spend their time.
