The prices below include electronic filing. Contact me to schedule an appointment!
A. Business Tax Returns
- Partnership or Sole Proprietorship = $1,000 per business
- Corporation or S Corporation = $1,000 per entity
- Grantor or Irrevocable Trust = $500 per trust
- Rental Real Estate = $300 per property
- Multistate Allocation = hourly pricing
B. Individual Tax Returns
- Employee Income = $100 per Form W-2
- Multistate Allocation = hourly pricing
- Home Mortgage = $50 per Form 1098
- Mortgage in Excess of $1 Million = hourly pricing
- Investment Income = hourly pricing
- Pass-Through Income (Schedule K-1)
- Capital Gain
- Interest & Dividend
- Retirement Plans = hourly pricing
- 401(k) & SEP IRA
- Traditional & Roth IRA
- Healthcare Plans = hourly pricing
- HSA
- Premium Tax Credits
- Educational Expenses = hourly pricing
- Childcare Expenses (Form 2441) = hourly pricing
- Charitable Donations (Form 8283) = hourly pricing
- Stock Options & Incentive Equity = hourly pricing
- Miscellaneous Deductions (Schedule A) = hourly pricing
C. International Tax Returns (U.S. Residents)
- Foreign Tax Credit (Form 1116) = hourly pricing
- Foreign Earned Income (Form 2555) = hourly pricing
- Controlled Foreign Corporation (Form 5471) = hourly pricing
- Foreign-Owned U.S. Corporation (Form 5472) = hourly pricing
- Foreign Financial Accounts = hourly pricing
- Foreign Trust = hourly pricing
D. International Tax Returns (U.S. Non-Residents)
- Form 1040NR = $1,000 per filing
- Itemized Deductions (Schedule A) = hourly pricing
- U.S.-Source Investment Income (Schedule NEC) = hourly pricing
- Claiming Treaty Benefits (Schedule OI) = hourly pricing
Frequently Asked Questions
I. What is a Tax LL.M.?
Tax LL.M. is a specialized degree awarded to tax attorneys who complete advanced studies in tax law. The program typically lasts two semesters and is completed after the attorney has already obtained his or her J.D. degree.
An attorney does not require a Tax LL.M. to practice tax law, but because today’s tax code has become so complex, many tax attorneys find it beneficial to pursue advanced studies in tax law if they become serious about specializing in tax law. The Tax LL.M. degree is a recognition that these attorneys have completed advanced training in tax law and are tax specialists.
II. What is the difference between a C.P.A. and a Tax LL.M.?
C.P.A. stands for “Certified Public Accountant”. It is a professional title awarded to non-lawyers who passed an exam in taxation and accounting. A C.P.A. typically requires four years of undergraduate studies.
While both a certified public accountant and a tax attorney are authorized to prepare tax returns, only a tax attorney is authorized to litigate tax cases in the federal courts.
There are also differences in training between a C.P.A. degree and a Tax LL.M. degree. A Tax LL.M. degree emphasizes training in the legal basis for what you enter into the tax return, e.g., whether you have the right to claim a deduction or tax credit. The emphasis is on justifying your tax results to a judge and the IRS. A tax attorney studies the statutory basis and common-law principles of taxation in order to become a better advocate for the client.
A certified public accountant is often better trained than a tax attorney in internal auditing, bookkeeping, and other administrative functions of tax compliance. In other words, a certified public accountant knows more about how to track your expenses and create supporting documents for your tax returns than a tax attorney.
III. Why should you hire me, a tax attorney, to prepare your taxes?
A tax attorney’s primary responsibility in any tax controversy is to defend you against IRS assessments and penalties. My training reflects that objective. I spent four years studying substantive tax law and regulations. I know the legal procedure for challenging IRS positions and contesting tax penalties. Where you have overpaid taxes, I may seek a refund on your behalf. If you underpaid taxes, I could still seek to reduce your penalties.
Because I am trained to litigate tax cases, I am able to anticipate the arguments the IRS might make to challenge your tax returns. Instead of relying on word of mouth, I actually research the law and take a tax position only when I am reasonably confident of its defensibility.
One potential ground for reducing your tax penalties is that you have relied on a tax attorney’s legal advice and obtained his written opinion. I am willing to, for a fee, obtain a tax ruling on your specific legal issue and, when needed, issue my legal opinion in writing. A good way to test your tax expert’s reliability is to ask whether the expert is willing to issue a legal opinion in writing.
I offer tax planning as a paid service in addition to preparing tax returns. When you come to me, you can rest assured that you are relying on the expertise of a professional who knows what he is doing.
IV. Why should you hire me instead of using a software to prepare your own taxes?
You employ the service of a professional either because you wish to save time or because you want to avoid the hassle. I like to use the analogy of a car mechanic: you may have a car mechanic change your oil and replace your tires, or you may perform the tasks yourself. It is always cheaper to do things yourself, but sometimes you are willing to pay someone else to save you the time and hassle.
When you choose a professional, you are looking for competence, expertise, and peace of mind. The value I deliver is the time you will save and the peace of mind you will enjoy. When you employ my service, you will know that your tax returns have been prepared correctly, and you will know that you have someone to represent you before the IRS in case of any situation.
The cost of my service and value to you is small compared to what you would spend on buying software and filing your own returns. In fact, the more complicated your tax returns, the more cost-effective you will find my service to be.
V. Why should you hire me, a tax attorney, instead of a certified public accountant to prepare your taxes?
Professional competence differs from individual to individual. Some certified public accountants are competent enough to represent clients before the IRS and appear in administrative hearings. The average accountant, however, prefers to refer the client to a tax attorney when the tax litigation becomes complex.
Non-lawyers who have not been trained in legal argumentation may not be able to win the best outcome for you if they represent you before the Tax Court. Also keep in mind that only tax attorneys may represent you before any federal court of appeals should you lose in the Tax Court.
If you are happy with the service your certified public accountant has provided you in the past, you should stay with that professional. If, however, you were unhappy with the service you received in the past or would just like to give another professional a try, please consider me. For a list of my credentials, please click here.
VI. What is the difference between my tax-preparation services and those offered by the big-name tax-preparation companies?
Big-name companies promise peace of mind, but they do not always deliver when it comes to the details. For example, who will be the professional representing you when an IRS audit happens? If you must litigate to reduce your tax penalties, who will be the tax attorney assigned to you? Do you know the credentials of the people who will prepare your tax returns or handle your case if a tax dispute happens? What will be the fees those companies charge when they must hire a tax attorney to represent you?
When you hire me to prepare your tax returns, you will know exactly the answers to those questions. When you call for tax advice, you will reach me instead of an answering machine. If you live within travel distance and make appointments to see me, you can always visit my office for face-to-face interactions. You would choose a health insurance plan by choosing your doctors first. So why should you be any less careful in choosing your tax professional?
VII. Why are the prices I charge often lower than those of my competitors in the business?
My prices are often lower than many of my competitors’ because I have fewer and lower overhead expenses. Technology has allowed me to keep my expenses low. I use Google to manage my phone calls without the need for a secretary. I advertise online instead of renting expensive office space in prime retail locations.
As a smaller business operator, I am also in a lower tax bracket than many of my competitors. That means I can enjoy the same profit margin even when I charge a lower price than my competitors. That competitive advantage has allowed me to pass on my savings to you. I always aim to provide better, more-personal service at a cheaper price than my competitors.
Steven Z. Gu, Attorney at Law, Tax LL.M. 