Income Tax Preparation
- $86 for those without dependents (1040 EZ- 1040) ($195 value)
- $109 for those with dependents (1040 EZ- 1040) ($250 value)
- $255 for either of the above, including Schedule C (1040) ($395 value)
- $470 for corporate tax preparation: C corporation or S corporation (1120–1120S) ($990 value)
- $450 for partnership tax preparation: partnership or limited liability company (1065) ($950 value)
Income-Tax Deductions: Spend and Save
Your tax preparer will be sure to apply any deductions that are applicable to you to get the highest refund. Check out Groupon’s glossary of some of the tax code’s more cryptic terms.
Standard Deduction: A basic amount of income not subject to tax. The exact deduction varies based on filing status—for instance, both a married couple filing jointly and a qualified surviving spouse receive about double the standard deduction compared to that of a single filer—as well as factors such as age, disability, and dependent status.
Schedule A: The section of Form 1040 on which you list itemized deductions. A surprising number of things are eligible for deduction, from business lunches to gambling losses. But many people will never need to research these obscure corners of the tax code—about two thirds of Americans claim the standard deduction instead, avoiding the need to file a complicated return and build a whole cellar just to store receipts.