Different from the more comprehensive tax consultancy service, tax preparation service specializes in preparing tax returns for the given tax year. As time-consuming as tax preparation is, if you have little time to do it yourselves, you might choose this service.
Tax preparation service offers multiple ways to reduce the taxes you owe, which is legally and ethically possible. And it could also help you file tax returns in far advance. Some companies can provide in-person tax preparation services, while more serve online with various tax-prep websites and software. These software offers you quick and accurate calculations and helps you understand current tax laws. Once you enter your current income, financial situation, and filing status, you will receive a report that guides you to file a tax return. The software will also give you instructions about what types of the forms you need to fill up and send out.
The price of tax preparation vary, depending on the services offered. Sometimes an online tax preparation service can be totally free. However, if you choose a business that offers an awful lot, you might need to pay several hundred dollars. For example, A&E Financial Services would price at an minimum of $150. If you ask for an in-person service provided by the Neal Group, you could be charged as high as $300 per hour.