Tax Preparation Fees Tax Deduction
Preparing your tax return can be complicated, especially if you are trying to maximize your business and personal deductions while ensuring you are in compliance with all federal and state laws. Many entrepreneurs choose to outsource their tax preparation to a professional who understands the rules and knows what landmines to avoid. Depending on how complicated your business is, tax preparation fees can be anywhere from $400 to $4,000 and beyond. Fortunately these costs are usually deductible on your Schedule C, Schedule E or other relevant business return.