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What do you pay for tax preparation?

Discussion in 'Polls' started by SqueeGee, Jan 28, 2011.

  1. SqueeGee

    SqueeGee Active Member

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    May 27, 2005
    .
    If you pay a CPA to do your taxes, what's it cost you each year?

    We've been with the same firm for several years but haven't been happy with the level of service compared to what we're paying recently (I guess I could have just said "Value").

    Anyway, last year I paid a total of $7,000 for the returns on three LLC's - sign company($3k), real estate holding company for the property that the sign company rents from($2k) and an unrelated partnership that I'm involved in($2k). This doesn't include any bookkeeping, 1099's, W-2's, etc. This is solely for year end tax preparation.

    I'm going to interview some other CPA's in the area but I'm just interested to know what others are spending.
     
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  2. WildWestDesigns

    WildWestDesigns Major Contributor

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    Sep 27, 2010
    Mid TN
    Sometimes it pays to be married to an accountant.
     
  3. CheapVehicleWrap

    CheapVehicleWrap Very Active Member

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    Dec 2, 2008
    seems like you're getting raked. I had an AWESOME accountant. ex SRI agent. But he died.
     
  4. SignAnnex

    SignAnnex Member

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    Sep 29, 2010
    New Hampshire
    Around $1800 but he organizes everything for me. I've always felt I get my moneys worth, he goes through mounds and mounds of paper. I've contemplated getting quickbooks to make things easier but for the amount of money I owe the government every year, well I'd rather not think about it until he gives me the number.
     
  5. binki

    binki Premium Subscriber

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    Jul 23, 2007
    The PRC
    $1400 for a c-corp, llc, and personal.
     
  6. Accelerated Graphics

    Accelerated Graphics Active Member

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    Jan 11, 2005
    Burleson
    $600.00 for sole prop..
    he's been doing it for several years now, now i get a packet with all last years figurs and I fill it out and he processes it..
     
  7. visual800

    visual800 Very Active Member

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    montgomery, alabama
    Im an s-corp I pay her about $800-$1000 per year. she handles all state, federal and local BS I dont have to worry with. I do all my end of the year stuff and just take it to her
     
  8. PromoGuyTy

    PromoGuyTy Member

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    Mar 4, 2007
    HENDERSON
    Man...I'd say that's crazy high unless your Revenue for each is crazy high.

    I'll pay about $500 for my promo biz s-corp, $500ish for an llc real estate biz with a couple of larger properties, and $200ish for another pretty inactive LLC, and $200ish for my personal return...$1400ish total....
     
  9. cdiesel

    cdiesel Very Active Member

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    Jan 28, 2005
    Phoenix, AZ
    S corp here, and returns only are $300. Bookkeeping is a separate company/charge.
     
  10. BobM

    BobM Very Active Member

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    May 31, 2008
    Cape Cod
    I do all my accounting in Quickbooks. CPA takes Quickbooks and prepares my returns for $700. I also use an online Quickbooks expert (CPA recommended) and she makes any changes in QB that he reccommends. Usually pay for 2 hours per year for her services, $170. I never, ever will subscribe to any service directly from QB.
    She works with CPA and me and problems get resolved the first time and CPA gets exactly what he needs to file my return with only a half hour meeting and electronic review of returns prior to filing.
     
  11. Billct2

    Billct2 Major Contributor

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    Mar 12, 2005
    New England
    $1200 for LLC, seperate DBA and my wife and I.
    Sounds like you need to do some shopping
     
  12. iSign

    iSign Major Contributor

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    Nov 29, 2003
    Kahului, Maui
    I've sought the occasional advice of a CPA for major transitions, or consideration of transitions... but my tax retuns are done by an "enrolled agent" for around $400 (personal and LLC both for that fee)

    My bookkeeper is $40.hour, and in around 8-10 hours a month, posts all payments, does payroll, gets all my monthly or quarterly legal crap filed on time, pays all the bills, enters expenses, reconciles statements and helps me weigh implications of any financial strategy or budgeting questions I may have... and give my tax guy exactly what he needs to do that job efficiently & affordably.
     
  13. saktrnch

    saktrnch Member

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    Mar 20, 2009
    My CPA really doesn't cost. I do have to write out a check, but they have always increased my refund, because of their knowledge, more than I write out the check for. So I usually get paid a couple of hundred dollars for sending off a $500.00 check.
     
  14. GB2

    GB2 Very Active Member

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    Nov 15, 2005
    Connecticut, USA
    You're taking a beating at those rates, I'm at about $500 for LLC and personal year end filling. It seems as if accountants are being hurt by the competition from technology the same as the sign industry. I've seen free tax offers from a number of different sources, Turbo Tax, H&R Block and a number of other start-up tax firms so it looks like you should be able to shop around for good deals this year especially.
     
  15. john1

    john1 Guest

    Since my business is so small, I do all the quickbooks jazz and give the print outs to my Father which is excellent with numbers and does my taxes. You can give this guy a random math question and he will give your the correct answer in minutes without pen and paper lol

    I think it's important to know how to do your accounting such as invoicing and all that if it's your business. That way when you get the hang of things you know what's going on
     
  16. JimJenson

    JimJenson Active Member

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    Nov 4, 2006
    I am at about 4000 a year. My accountant comes in quarterly and takes care of all state and federal filings. He does my end of year stuff too.
     
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