THE COST OF: Tax preparation varies in price and value
Tax season is underway and there are many different options and prices to file.
More Stories
The deadline is April 15th to get them in and already people at ways to file including free options. So which option do you choose?
Abdul Chowdhury, with Dynamic Accounting Services, says it really depends on how complicated the case is. Chowdhury says, "To be honest, if somebody has just a W2, right? They have one W2, they are single, that tax return is very simple, you can use various software where you can take care of the tax return yourself. Because there are not much credits or tax planning going into it."
And for that there are free options to do it. The Direct File Program lets New Yorkers file online for free. It's a joint project through the IRS, so you can file federal and state at no cost. You can file the link here.
But sometimes the experts, that may cost, can help you save more money. Chowdhury says, "we can understand what can help you and we can understand various tax savings strategies so it all depends on the route you want to take."
Fees can range from a couple hundred dollars to thousands, depending on how complex your return is. With it you also get planning, so you can save money moving forward. Chowdhury says, "If you are doing tax planning, where we prepare the tax return then we are also going to give you some strategies for next year, to make sure your withholdings is good, if your filing status is correct. If you own a home and you want to make sure that you are getting the proper deductions, we tell you how to maximize your expenses."
Because you want to save every dollar.
