Rates & Fees
HOURLY | FLAT | CONTINGENT FEES
Hourly – $500 / hour
- Hourly Rate Matters
- Special projects
- Client chooses hourly over flat / contingent fee
- Example – the IRS audits a self-employed consultant for 1 tax year. Typical hours for this type of audit is about 12 hours. Estimated fees in this case, approximately $6,000.
Flat Fees – offered whenever possible.
- Flat Fee Matters
- Foreign account disclosures ($5,500 and up)
- Tax return preparation ($1,500 and up)
- Tax investigations ($1,500 and up)
- Tax planning ($2,500 and up)
- Example – John has 4 foreign bank accounts that have not been disclosed to the IRS. He decides to file a streamlined disclosure with the IRS. The accounts are relatively simple bank accounts. Flat fee in this case, $5,500.
Contingent Fees – based on amount saved. Fee will vary on amount owed, complexity and difficulty.
- Contingent Fee Matters
- Tax disputes and litigations
- Penalty abatement cases
- Example – Jane owes $90,000 to the IRS after an audit. The audit is appealed and the bill is reduced to $30,000 (a $60,000 savings). Law Office charges 1/3rd of the saved amount, or $20,000.
Low Income Taxpayers
- Low Income Tax Clinics – if you are low income, you may qualify for free help at a local low income tax clinic (click here).
- VITA Centers – low income persons can also have their tax returns prepared for free. Just go to your local Volunteer Income Tax Assistance (VITA) center (click here).