HigHligHTS FROM THE NEW 2009–2010
iNCOME AND FEES SURVEy:
THE PRACTiCE:
•
operates as a sole proprietorship
•
had an annual gross practice income of $246,176 in 2008
•
had a net income of $84,790 in 2008
•
has 4 full-time employees; 2 part-time employees and
3 seasonal employees
•
when a partnership, has 2 principals/partners
•
processes 157 not-itemized 1040’s annually
•
processes 293 itemized Schedule A 1040’s annually
•
nearly 60% of its gross income derived from the preparation
of federal/state tax returns
•
currently offers electronic filing to clients and charges
$24 for the service
•
charges an hourly fee of $129 to represent clients before IRS
•
NSA 2009–2010
uses personal interviews to collect data from clients
•
nearly two-thirds of all 1040s are e-filed
•
salaries/benefits represent 40% of total expenses
income & Fees
•
devotes 11% of annual expenses to technology products.
FEES: FEDERAl TAx RETURNS
Survey Report
The typical firm charges an average of:
•
$58 for a Form 940 (Federal unemployment)
•
$129 for the preparation of a Form 1040, not itemized
•
$229 for an itemized Form 1040
he NSA conducts a comprehensive, biennial • $415 for preparing a Form 1041 (fiduciary)
T
income and fee survey that is sent to over • $488 for preparation of a Form 5500
8000 successful practitioners from across (pension/profit sharing plans)
the country. The 2009–2010 Income and • $551 for a Form 1065 (partnership)
Fees Survey is a great tool to help you see • $584 for a Form 990 (tax exempt)
how your fees compare to the competition. • $665 for a Form 1120S (S corporation)
You can now download the entire report or • $692 for a Form 1120 (corporation)
download it by sections including: national
averages, state averages, nine census regional averages, and the BilliNg PRACTiCES
salary survey report. Downloads are FREE to NSA members. The typical firm:
To download click here: NSA Income and Fees Survey. • bills at the end of the job (60%)
The new 2009–2010 Income and Fees Survey, the 13th edi- • accepts credit cards for payment of services (30%)
tion, contains detailed information on fees charged for various • charges interest on past due accounts (23%)
services, broken down by state, all nine census geographic regions • utilizes progress billing (23%)
and practice size. The survey also includes information on sala- • itemizes charges for copies, faxes, deliveries, phone calls,
ries and compensation for principals/partners, practitioners and etc. (17%)
support staff, as well as fringe benefits. Demographic data on • requests partial payment (10%) at the time of the
the respondents describes type of practice, community size, engagement letter
gender, credentials, years in practice, and education level. Oper-
ating expenses broken down by category are included in addition To download NSA’s 2009–2010 Income and Fees Survey, click here:
to information on succession planning and dispute resolution.
NSA Income and Fees Survey.
February 2010 NPA Magazine 11
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16