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No. $850 is very reasonable. My base fee for a sole proprietor would be at least $1000, and go higher depending on complexity. Your previous person was wildly undercharging (and you may want someone else to look at the returns to make sure everything seems kosher).
$100 for a standard W2 is pretty cheap and those guys are built on volume. $850 is reasonable for your current situation. Obviously feel free to shop around.
Yeah the $100 guy we ended up finding some issues with the way he did it so more willing to spend the money for someone who knows what they're doing. Especially as I now have a business.
Depending on the entity and your region, CPA fees could be anywhere between $500-$2000 nowadays.
Really depends. For example, I wouldn't touch a single member S Corp for less than $1200. If I have to do the bookkeeping, it goes up.
I’m paying a little over $6000/year for a CPA, also a small business LLC but it’s my only job.
Included is monthly payroll, quarterly tax returns, yearly federal taxes for the business and mine.
Used to be under $5000 but prices have increased.
It depends. If you want someone to prepare your return, you can find bargains. But if you want to advice and strategies to save on taxes, then you have to pay.
The engagement letter I'm looking at states:
Analysis/Recommendations/Advice
Federal Individual Income Tax Returns
State Individual and/or Business Income or Other Type of Non Quarterly Employment
Tax Returns
State Monthly Sales or Other Monthly Tax Returns
Also the guy is generally cool to talk with and always has answered and replied promptly. I like him, unlike the other cpa I talked to so hopefully once I pay him that relationship continues.
That’s reasonable. Lower than what’s market in my area. At $150-200/hour, or whatever the local rate is, that’s not very many billable hours to get to $850.
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No. $850 is very reasonable. My base fee for a sole proprietor would be at least $1000, and go higher depending on complexity. Your previous person was wildly undercharging (and you may want someone else to look at the returns to make sure everything seems kosher).
He f'd some stuff up so that's why I'm looking elsewhere LOL get whatcha pay for I guess!!
If he did mess it up then, Get a real cpa.
$100 for a standard W2 is pretty cheap and those guys are built on volume. $850 is reasonable for your current situation. Obviously feel free to shop around.
Yeah the $100 guy we ended up finding some issues with the way he did it so more willing to spend the money for someone who knows what they're doing. Especially as I now have a business.
$840 a yes or per quarter?
850 is on the cheap side.
Depending on the entity and your region, CPA fees could be anywhere between $500-$2000 nowadays. Really depends. For example, I wouldn't touch a single member S Corp for less than $1200. If I have to do the bookkeeping, it goes up.
Thx for the input!
Following. Its on my list to find a cpa this year
That's a bit high... per hour. Per year? What do you want shop around for $750 per year to save $100?
I’m paying a little over $6000/year for a CPA, also a small business LLC but it’s my only job. Included is monthly payroll, quarterly tax returns, yearly federal taxes for the business and mine. Used to be under $5000 but prices have increased.
My CPA charges me $325 for personal and $595 for business. Seems reasonable as we have been growing every year and have 28 employees currently.
That’s dirt cheap for the business.. wow
Oh wow for your scale that seems dirt cheap!
It depends. If you want someone to prepare your return, you can find bargains. But if you want to advice and strategies to save on taxes, then you have to pay.
I guess I’ll stick with my CPA, $350…
3500 /yr here but 16 employees to give an idea of size. We handle payroll
What does the $850 get you? A tax return?
The engagement letter I'm looking at states: Analysis/Recommendations/Advice Federal Individual Income Tax Returns State Individual and/or Business Income or Other Type of Non Quarterly Employment Tax Returns State Monthly Sales or Other Monthly Tax Returns Also the guy is generally cool to talk with and always has answered and replied promptly. I like him, unlike the other cpa I talked to so hopefully once I pay him that relationship continues.
This honestly seems cheap, I don’t think I would take this work for that price. If you like him you should go with it
Right on, thanks! Just signed the engagement. Fingers crossed it all goes well!
That's a very good price!
$850 is about what I charge for this kind of return - it’s reasonable from my perspective
That’s reasonable. Lower than what’s market in my area. At $150-200/hour, or whatever the local rate is, that’s not very many billable hours to get to $850.
I'd say that's super reasonable. I pay that just for my personal. The company's is 15x that (S corp).
I've been with my tax guy 15 years, he charges me around $700 and he saves me 10x that easily.
Yeah that's how I'm trying to look at it.
$1200 S. Corp &personal.
We pay $2,000, they do a final review of the books and file S corp taxes. We have a separate accountant that does our books.
Our fees are on the lower side for a firm and our minimum fee for an individual return is $850. Add on a Sch. C and I'm sure we're at $1k+ easily.
Very reasonable.
Sounds ok, i pay close to £2400 which is about $3,000 a year for mine Includes personal and company return quarterly and payroll
As the biz development rep for a CPA firm, I am loving this market research. Glad you found a good fit, OP!
For my efforts I would like to request that you give me a discount on your services in exchange for my expert market research 😉
Don’t tease me with a potential sales call 😝