One of the best parts of owning your own business is being in control of your income and expenses. When you are a tax preparer, you get to set your own fees. Learn more about how you can set up your price structure when you partner with TaxSlayer Pro.
How much should I charge my clients for a tax return?
When you partner with TaxSlayer Pro, you pay a one-time amount for the software. Then you get to set your own fee for each client you assist. According to the Income and Fees of Accountants and Tax Preparers in Public Practice Survey, the average cost of preparing a return for Form W-2 was $69.75 and for Form 1099 was $67.72.
There are many ways to structure your pricing model. You can charge everyone the same amount, or you can create a tiered price structure depending on the type of return you file for them or the amount of time you spend on their return.
What are additional ways I can earn revenue as a tax preparer?
As a TaxSlayer Pro user, you have the freedom to offer additional services and the flexibility to charge what you want for them.
A bank product is simply a way for your clients to deduct your tax prep fees directly from their refund. This way they do not have to pay out of pocket for your services. It is also known as a refund transfer. This allows you to serve more clients who may not be able to afford your services otherwise. Bank products also provide the following benefits to you and your clients:
- Clients can choose how to receive the refund (check, card, direct deposit)
- You can receive your payment sooner
- You can set your cost for this service, just like with your tax prep fees
In addition to bank products, TaxSlayer Pro offers several other services that you can add on to your business. These will make your business more competitive and increase your bottom line.
- Audit assistance
- Identity protection and restoration
TaxSlayer Pro offers two options for audit assistance: Audit Maintenance Pro (AMP) and Protection Plus. Many clients are afraid of being audited, and these options can give them peace of mind that they will be covered if it occurs. Both programs offer perks like low enrollment cost, reliable year-round assistance, and easy set up within your software.
If you’re looking to help your client with identity protection and restoration, TaxSlayer Pro partners with SecurelyID. Tax identity theft is a real problem that many taxpayers face every year. Give your client the tools they need to combat cyber criminals with SecurelyID. Some of the benefits include:
- Credit Monitoring
- Full-Service Restoration
- Dark Web Surveillance
- SSN Trace
- $1 Million Insurance
- Change of Address Coverage
For more ways to earn additional revenue, read 5 Services You Can Add to Increase Your Revenue as a Tax Preparer.
The information in this article is up to date through tax year 2021 (taxes filed in 2022).