FAQ

The price of a payroll service hinges on several important factors:

• Frequency of your payroll processing
• Number of W-2s that need to be filed
• Turnover of your employees
• Whether employees are in one or multiple states
• Garnishments or additional legal complexity around your employees

We know this is not the answer you wanted, but the best way to find out how much payroll services will cost for your business is to get in touch with us.

We need the following information process your payroll:

• The information in your employee’s W-4
• Salary amounts, bonuses, and commission details
• Payment period information, for example, hourly, weekly, monthly, etc.
• Voluntary or involuntary deductions, including pre-tax deductions

When you engage with us, we’ll provide a complete list of what we need that is specific to your business. We’ll help you get the information if you don’t already have it.

Perkins Tax Solutions customers just need to send those letters to us. Our team will investigate why the letter was sent, what needs to be done about it, and if necessary prepare the response. We’ll notify you and explain the situation before any actions are taken, we’ll discuss options, come up with a plan you approve, and execute accordingly.

All you need to do is send the garnishment order to us. We’ll review it, explain the situation and the compliance actions that need to be taken. Garnishment orders will be followed in accordance with the law.

In 2019, according to the National Society of Accountants, the average fee for tax preparation was $294 if you itemize your deductions. Please note, that as with any average, your fee may be lower or higher than this. Time and complexity are the main factors when determining the price of tax preparation.

An extreme example would be someone who presents a disorganized box of receipts or is missing documents. Situations like these take more time to sort through, the added time increases the cost.

Both a tax preparer and a Certified Public Accountant (CPA) are required to take competency exams and register with the IRS to receive a Preparer Tax Identification Number. However, there are a couple of differences:

1. Tax preparers are required to pass an examination administered by the IRS to demonstrate their competency in preparing 1040 tax returns. As mentioned above, registered tax preparers will have a Preparer Tax Identification Number issued by the IRS.
2. CPAs are not required to take the examination tax preparers are required to take. However, CPAs have passed the CPA exam administered by the National Association of State Boards of Accountancy. CPAs may have a broader scope and can represent their clients in various tax matters. As mentioned above, CPAs must still register with the IRS to receive a Preparer Tax Identification Number.

“Tax preparation fees on the return for the year in which
you pay them are a miscellaneous itemized deduction and
can no longer be deducted. These fees include the cost of
tax preparation software programs and tax publications.
They also include any fee you paid for electronic filing of
your return.” – IRS

To file your taxes a tax preparer no longer requires a paper signature, but must have a copy of your completed 8879 Form, the form serves several purposes:

• Acknowledges that you accept the accuracy of the return and the direct deposit information
• The signature replaces the physical paper signature that used to be provided on paper-filed returns
• The IRS requires that the tax preparer receive a copy of the signed 8879 before electronically filing the tax return
• A Tax return without having a signed 8879 is akin to identity theft. Form 8879 ensures that the taxpayer has authorized the filing of the tax return

Yes, Perkins Tax & Accounting Solutions works with both businesses and individuals with regard to tax preparation.