Tax return preparation and other accounting fees priced at $20 in 1997 $68.31 in 2024

Tax Return Preparation And Other Accounting Fees Inflation Calculator

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Prices for Tax Return Preparation And Other Accounting Fees, 1997-2024 ($20)

According to the U.S. Bureau of Labor Statistics, prices for tax return preparation and other accounting fees are 241.56% higher in 2024 versus 1997 (a $48.31 difference in value).

Between 1997 and 2024: Tax return preparation and other accounting fees experienced an average inflation rate of 4.65% per year. This rate of change indicates significant inflation. In other words, tax return preparation and other accounting fees costing $20 in the year 1997 would cost $68.31 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.49% during this same period, inflation for tax return preparation and other accounting fees was higher.

Price Inflation for Tax return preparation and other accounting fees since 1997

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2023 (11.48%), 2022 (8.80%), and 2006 (6.77%).

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Buying power of $20.00 since 1997

Below are calculations of equivalent buying power for Tax return preparation and other accounting fees, over time, for $20 beginning in 1997. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1997$20.00-
1998$20.854.25%
1999$21.935.18%
2000$23.175.66%
2001$24.244.59%
2002$25.505.22%
2003$26.594.25%
2004$27.714.24%
2005$28.954.46%
2006$30.916.77%
2007$32.154.03%
2008$33.785.08%
2009$34.652.57%
2010$35.622.79%
2011$36.652.89%
2012$38.515.08%
2013$39.352.18%
2014$41.124.49%
2015$43.435.61%
2016$45.214.10%
2017$47.414.88%
2018$49.835.11%
2019$50.701.74%
2020$52.152.85%
2021$53.392.39%
2022$58.098.80%
2023$64.7611.48%
2024$68.315.48%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.


Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Tax return preparation and other accounting fees:

Year1997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI100.000104.254109.654115.862121.185127.508132.931138.562144.738154.531160.764168.924173.259178.097183.242192.557196.764205.602217.128226.026237.062249.172253.516260.734266.970290.465323.809341.557

Adjust tax return preparation and other accounting fees prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1997 * 1997 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Tax return preparation and other accounting fees was 100.000 in the year 1997 and 341.557 in 2024:

341.557 / 100.000 * $20 = $68.31

Therefore, according to U.S. Bureau of Labor Statistics, $20 in 1997 has the same "purchasing power" as $68.31 in 2024 (in the CPI category of Tax return preparation and other accounting fees).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Tax return preparation and other accounting fees in 1997. In addition to tax return preparation and other accounting fees, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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