Tax Services FAQs What are the common tax services available? Common tax services include tax accounting, tax compliance, tax reporting and strategy, wealth management tax services, international tax services, legal business solutions, IRS audit representation, and tax management consulting. How much do tax services cost? The average cost of filing a tax return with no itemized deductions is $220, but it costs $323 to file a return with itemized deductions. Meanwhile, self-employed individuals usually pay $457 to tax service providers to accomplish their itemized Form 1040 and attach a Schedule C. What are the benefits of using tax services? The benefits provided by professional tax services include saving time and money, lessening the chances of an IRS audit, gaining access to expert advice, and receiving support for business planning. What is the difference between tax accounting and tax compliance? Tax accounting involves monitoring and recording the cash inflow and outflow of either an individual or a business. In contrast, tax compliance focuses on ensuring that companies or individuals meet filing deadlines, avoid penalties, and remain compliant with IRS guidelines. What should you look for when hiring a professional to perform tax services? Clients should select a professional with the right qualifications, relevant experience, and a transparent fee structure when looking for a service provider to meet their tax needs. Someone accessible who offers quality services, ongoing support, and data security is also preferred. About the Author True Tamplin, BSc, CEPF® Facebook Linkedin Instagram Twitter Youtube True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists. True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics. To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.