Survey figures also reveal that the average 1040 tax return fees are up only slightly, with an average of just over a 6% increase in average fee over 2016.
While the average fee for a 1040 return was around $175, the average return done in the South was just under $250, returns in the Midwest averaged just over $230, and the far West surprisingly plopped in at just under $300, a tiny bit lower than the Northeast the where average was just over $300.
In general, the costs to prepare additional forms is where the greatest opportunity for revenue enhancement occurred, with simple forms such as aSchedule D,E or F ranging from $125 to $150, with more complicated forms such as corporations (both C and S) averaging over $800. Nonprofit organizations averaged paying over $725 for a Form 990, while Estates came in at just over $475 for a Form 1041.Two-thirds of Practice Builder Publishing members report that revenues for tax preparation services are up! Click To Tweet
Specialized work was still predominately billed by the hour.
Firms that offered top services such as estate and tax planning averaged billing rates of just over $160 per hour, or just over $175 for tax representation, including preparation of offers in compromise.
This years results are a major indication that Rainmaker Marketing is equally applicable to tax practitioners and accounting practitioners. To learn more about the Rainmaker concept, check out the Rainmaker Marketing Protégé Course here on this website.
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