It’s almost time to file your taxes, and it can cost a lot more than you’d expect if you choose to go to a professional tax preparer. The average income tax preparation fee has increased over the last year and varies based on your geographical location.
For example, if you were to get your taxes done in California, you can expect a cost of $348 for itemized form 1040 with Schedule A and a state tax return. In Michigan, the average cost is $240 for the same form. Overall, you can expect to pay anywhere from $198 to $348 depending on where you live.
However, there’s more than one way to file your taxes. If you want to submit an EZ-1040, you can file your federal taxes online for free as long as your income is below $62,000. Many state taxes are also free, depending on where you live. Other online tax preparations, like TurboTax, may charge around $20 to $120 based on the form and any itemized deductions you may have.
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