Navigating the realm of taxes can be a daunting task, which is why many individuals and businesses turn to tax preparation services like H&R Block. However, before deciding on a service, it’s essential to understand the associated costs. This article will break down the cost structure of H&R Block’s tax preparation services.
Please note that costs can vary over time due to various factors, and it is always recommended to check with the service provider for the most current pricing.
Online Tax Preparation
H&R Block offers several online tax preparation packages, each designed to cater to different needs:
- Free Online: This is a great option for people with simple tax situations, including W-2 income, unemployment income, retirement distributions, interest income, or up to $1,500 in dividend income. For federal and state tax filing, this option is free.
- Deluxe Online: Priced at $49.99 for federal returns and an additional $44.99 per state filed, the Deluxe option is ideal for homeowners, people who’ve made charitable donations, and those with Health Savings Accounts (HSAs).
- Premium Online: For freelancers, contractors, investors, and rental property owners, the Premium package, priced at $69.99 for federal returns and $44.99 per state, offers extra guidance.
- Self-Employed Online: For self-employed individuals and small business owners, this option costs $109.99 for federal returns and $44.99 per state. It provides specialized guidance for industries like ride-share, web design, and real estate.
H&R Block also provides software for tax preparation, which is priced slightly differently:
- Basic: At $29.95, this version is best for simple tax situations. It includes five federal e-files.
- Deluxe: This version costs $54.95 and is designed for maximizing deductions and credits. It includes six federal e-files and one state program.
- Premium: Priced at $74.95, the Premium version caters to investors and rental property owners. It includes six federal e-files and one state program.
- Premium & Business: At $89.95, this version is suitable for small business owners. It includes six federal e-files, one state program, and information on preparing business tax forms.
The cost of in-office services at H&R Block can vary widely based on your specific tax situation, the complexity of your return, and the experience level of the tax professional. On average, the cost for an in-office tax return at H&R Block ranges from $150 to $250, but this can increase or decrease based on the factors mentioned above.
H&R Block also offers add-ons like the Online Assist (unlimited, on-demand tax help from a tax expert, enrolled agent, or CPA), which starts at $39.99. The Peace of Mind® Extended Service Plan, which provides representation in case of an audit, costs $44.99.
H&R Block offers a range of options for different tax situations, and the costs can vary depending on the complexity of your taxes and the level of assistance you require. Keep in mind that pricing is subject to change, and it’s always a good idea to check the latest prices on the H&R Block website or contact them directly for the most accurate quote. And, as with any financial decision, it’s worth comparing services and prices to ensure you’re getting the best solution for your specific needs.