That’s kind of one of those “no-duh” statements, right
Just look at your Amazon stuff lately, relative to last year.
Or that nice juicy bounce in our unemployment premiums rate in Colorado.
Groceries. Home Depot & Lowes.
You get the picture.
Now…I have to grudgingly admit I understand the unemployment one.
2020 was an unprecedented year due to the fallout from the virus.
When I saw the jump from 1.7% to 2.91% I wasn’t the least bit surprised, even though it’s a 71% increase.
So…it is with a bit of a heavy heart that I have to announce that we’re going to have an increase in a couple of rates here as well.
BUT FIRST! The good news…
We are going to keep our pricing static on all 1040 schedules and forms attachments.
As well as the Form 1120S and Form 1065, S Corps and Partnerships, respectively.
No increase for Schedule C. Or Schedule A, or Due Diligence Form 8867.
We are only increasing base rates on the actual Form 1040, state returns, city returns for those that have them…
…and the hourly rate for specialized services.
The reason? Past time expenditure analysis, and our market research has led us to the conclusion that we should be charging a bit more for these things. The new rates, effective today, January 25th, are:
States with an income tax…$50
CA and NY…$60
States with a state and city income tax…$80
If you are reading this, have completed a quote conversation, and paid a retainer already this month your original quote will be honored.
So to be clear, a Form 1040 with a state return for a simple W2 wage-earner, with or without other 1099-Rs, no limit to the number of W2’s, is $200 even.
If that sounds higher than your current tax professional let me share something with you.
Our practice specializes in the small businessperson.
We are also aware that a Form 1040 can be done online by someone with that level of patience for quite a bit less.
We like TaxFreeUSA, actually. They were doing the 1040 for free, and the state returns for about $13 last time I looked. Cheap!
(Of course, you’re doing all the work yourself, too!)
We are still here for you, entrepreneurs of our world.
Child Care Servicers.
Artisans and Sculptors.
All of my people that have made the decision to take their destiny, and their success into their own hands.
For you, the increase is actually very reasonable.
A single business owner with a child at home will only see their tax prep go up 8% this year.
That’s below the national average of 11%.
Oh, and if you need your W2 or 1099s done?
You now have less than a week!
And those didn’t go up, either!
Thank you for your valued business and support, and…
…let’s keep having an amazing 2021, together!