CPA Exam Cost Explained in 2024 Plus 3 Hidden Fees

Use this guide to understand how CPAs charge, what influences their rates, and alternative services that might fit your needs. This is an easy exam that can be taken before you pass the CPA exam or even afterward. If you haven’t started studying yet, you should look at my comparison of the top CPA review courses and find one that fits your learning style best. Here’s a breakdown of all CPA costs to take the CPA exam and get licensed. Other candidates do get the right course, but the course has an expiration date https://x.com/bookstimeinc that runs out.

CPA Continuing Professional Education (CPE)

Most test-takers focus on one section at a time, but you can schedule multiple sections back to back or even on the same day. However, you can take the test how much does a cpa cost only during the AICPA testing windows. While everyone takes the three core sections, you can choose one of the three Discipline sections. Before 2024, all CPA candidates took the same four-section exam.

Take the next step in becoming a CPA with Becker.

Before you commit to a CPA, consider how different fee structures might suit your needs better. Always weigh their rates against the potential costs and benefits they bring to your business. In addition to these expenses, you will have to bear two additional costs after you pass the CPA Exam. These aren’t CPA exam costs, but you should know about them all the same. You can check your state’s fee through the National Association of State Boards of Accountancy’s (NASBA) website. ⇨ Pass guarantee – no, this isn’t an assurance that you will pass the exam.

Registration fees

• Anti-forestalling provisions will apply to prepayments of school fees for terms starting on or after 1 January 2025 where those prepayments are received on or after 29 July 2024 but before 30 October 2024.
• This includes a study book and all fees required to take the exam.
• While you may still find CPAs who will charge an hourly fee, many will charge set rates for specific income and tax situations based on the IRS guidelines for estimated times to complete each form.
• This cost isn’t as common as the last one, but it is pretty common.
• The Continuing Professional Education Program conducted by the AICPA ensures that you maintain your professional competence and knowledge after passing the exam.
• While you might not need an accounting specific degree, most states require you to have completed at least 150 credit hours of education (usually a Bachelor’s Degree is around 120 credit hours).

However, humans tend to be more prone to error compared to well-functioning programs. These programs can scan financial information and organize data accurately, thus reducing any possible mistakes. Software preparation tools may be faster, more efficient, and more convenient, as they can be used at your discretion. If you’ve purchased another CPA review program and are not satisfied with your results, you may qualify for a FreshStart Discount.

Required Education for a CPA

Accountants prepare tax returns with much more sophisticated software compared to the software sold to consumers. Accountants may also be more likely to get to know your life situation better, unearthing other opportunities for tax benefits that traditional tax software simply won’t explore. The cost of hiring a CPA also increases the more complicated your return is and the more time that person has to spend on it. The same study from the NSA found if you are self-employed and need to hire a CPA to prepare an itemized Form 1040 with a Schedule C and a state tax return form, the average fee increases to $515.

• There are a variety of ways in which a school may choose to do this, including reducing their surpluses or reserves, cutting back on non-essential expenditure, and increasing fees.
• Also, without a specific date to work toward, you may procrastinate to prepare and not feel 100% ready.
• The Core sections are Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), and Taxation and Regulation (REG).
• After recovery of VAT on their costs, on average the government expects schools to be liable for VAT amounting to approximately 15% of fee income, though this will vary between schools.
• Because of their additional skills and experience, CPAs earn an average of $92,795 per year, compared to the average salary for accountants of $61,480.

Auditing and Consultancy Fees

• Most companies like Roger and Becker charge about $500 to renew their courses.
• The cost of these educational opportunities can vary greatly, ranging from free resources to courses priced at several hundred dollars.
• Certification organizations offer multiple credentials for CPAs, including certified bank auditor (CBA), certified fraud examiner (CFE), and certified internal auditor (CIA).
• This one-time fee varies depending on your state, but it’s typically between $50 and $200, though it may be as much as $300.
• For CPA candidates outside the United States, you will need to choose a state Board of Accountancy that will declare you eligible, as some states do have residency and citizenship requirements.
• The measure will introduce a Part 3 into Schedule 9, which sets out exceptions to the exemptions in that schedule.

The government estimates that the increase in pupils at state schools will build up progressively over time as follows. International candidates looking to take the CPA Exam must understand and navigate certain processes specific to their background, such as credential cash flow evaluation and testing at international locations. Please note that the above cost breakdown is provided for general guidance and the actual costs may vary for each candidate.

• CPAs report an average salary range between $60,870 and $150,610, while non-CPA staff accountants report a salary range between $47,140 and $82,170.
• In addition to these expenses, you will have to bear two additional costs after you pass the CPA Exam.
• It is essential for an LLC to research and compare tax preparation fees and services to ensure they are receiving the best value for their investment.
• Currently, there are no registration or initial application fees for the CPA Exam.
• In these circumstances, accountants may charge you more consultation fees and overtime work.
• Ken has gained a wealth of business experience through his previous employment as a CPA, Auditor, Tax Preparer and College Professor.

This page details the necessary steps to becoming a CPA and completing the CPA certification requirements. Your CPA review timeline depends on when you want to take the CPA Exam. Assuming you can study hours each week, this translates to roughly 1-2 months of CPA Review prep time per section.