Accounting Advice Needed.

Woofybubbles · Jan 31st, 2008, 10:24 PM

I have a small Construction Company which is an L.L.C. I was just wondering if there are any business owners or accountants that can tell me if $900 to file my federal and state taxes is a normal price to pay to my accountant. Thank You

Texas Girl · Jan 31st, 2008, 10:59 PM

Back in 2000 we owned an L.L.C. and we paid under $400. But it depends on how complicated your return is. Can you get quotes from anyone else or has this accountant already processed your return? And can you get any recommendations from fellow business owners in your area?

tweetie · Jan 31st, 2008, 11:22 PM

I think it really varies depending on how complex your accounting is, what they have to do, and how senior he/she is. To be honest, I think that is really cheap for a business. When DH and I were both self-employed, we paid $500 per year to file just personal taxes.

Now that we've incorporated our business, we pay $1200-$3000 a year for accounting services (this covers both personal and corporation filing, advice, etc...) Our accountant charges $250/hr, but we went to ours since he was the most recommended for our field.

EMMY · Jan 31st, 2008, 11:33 PM

Geez..I don't know what they base it on....We have a business..LLC since 1999...My accountant charges me $500.00 to do our taxes...BUT..I ahve all my reports ready, all my paperwork is done and neatly organized...I'm VERY ANAL when it comes to my shoes, handbags and ledgers lol!!! I truly don't know what it's based on...perhaps how complicated the returns get..?? ANd $900 would be too much for me...I mean I do most of the work...but maybe your business is larger than ours...can you check around locally?

happy1 · Feb 1st, 2008, 12:40 AM

It depends what the $900 include and how much work the accountant has to do. There are many factors in determining the fee. Such as:

How many members are there in the LLC?
Do you have all the financial statements already prepared?
Is the accountant preparing the LLC return and your personal returns as well?
What rate is the accountant charging you per hour.

Vegas Long Legs · Feb 1st, 2008, 02:37 AM

We're charged about $30,000 per year which includes all financial statements & tax returns from CPA. We have a full time bookkeeper who puts together monthly reports & give them to CPA. 2 companies, one subchapter S & one LLC.
Have had this accountant 33 years & never been audited, he errors on side of caution. He was also DH's frat brother.

Woofybubbles · Feb 3rd, 2008, 12:43 AM

Thank You all for your help. I do feel better now and I will be calling some of my sub-contractors that have their own businesses and find out if $900 is fair. The reason I asked is because I felt that my taxes are rather easy, I really just build 1-2 houses a year. The rest of my time is spent at the family business. Like Emmy, my papers are all done and very organized when I give them to him. That fee does only include my LLC returns, my personal returns are about $100.00.
My family has worked with him for about 20 years and we have never questioned our fees until now. He is charging me just $200 less than my parents and they have much more complicated books. (they actually have employees, I just hire subs to do the work for me) Thanks again for all your help.

Zophie · Feb 3rd, 2008, 10:34 PM

I am an independent contractor but a sole properitor, not an LLC. I have never paid more than $260 for a CPA to do my taxes. But I don't have an itemized return and don't have a corporate return. I also bring her all of my income and expenses organized on spreadsheets so all she has to do it simply put it on the right place on the return and send it in.

BigPurseSue · Feb 7th, 2008, 03:06 AM

$900 isn't a lot if you're a small business with employees. But the rates do vary a lot depending upon the accounting firm and the complexity of your taxes. About 10 years ago the firm that did my taxes jumped from $450 a year for a small business and joint return, to $1100 the next year for the very same taxes. I've been using Turbotax ever since.

Jan 31st, 2008, 10:24 PM	#1
Woofybubbles Member Location: Rio Rancho, NM	Accounting Advice Needed. I have a small Construction Company which is an L.L.C. I was just wondering if there are any business owners or accountants that can tell me if $900 to file my federal and state taxes is a normal price to pay to my accountant. Thank You

Jan 31st, 2008, 10:59 PM	#2
Texas Girl Member Location: Texas	Re: Accounting Advice Needed. Back in 2000 we owned an L.L.C. and we paid under $400. But it depends on how complicated your return is. Can you get quotes from anyone else or has this accountant already processed your return? And can you get any recommendations from fellow business owners in your area?

Jan 31st, 2008, 11:22 PM	#3
tweetie Member Location: Canada	Re: Accounting Advice Needed. I think it really varies depending on how complex your accounting is, what they have to do, and how senior he/she is. To be honest, I think that is really cheap for a business. When DH and I were both self-employed, we paid $500 per year to file just personal taxes. Now that we've incorporated our business, we pay $1200-$3000 a year for accounting services (this covers both personal and corporation filing, advice, etc...) Our accountant charges $250/hr, but we went to ours since he was the most recommended for our field. __________________ Highlights of tweetie's collection

Jan 31st, 2008, 11:33 PM	#4
EMMY Member Location: Syracuse , New York	Re: Accounting Advice Needed. Geez..I don't know what they base it on....We have a business..LLC since 1999...My accountant charges me $500.00 to do our taxes...BUT..I ahve all my reports ready, all my paperwork is done and neatly organized...I'm VERY ANAL when it comes to my shoes, handbags and ledgers lol!!! I truly don't know what it's based on...perhaps how complicated the returns get..?? ANd $900 would be too much for me...I mean I do most of the work...but maybe your business is larger than ours...can you check around locally? __________________ Emmy

Feb 1st, 2008, 12:40 AM	#5
happy1 Member	Re: Accounting Advice Needed. It depends what the $900 include and how much work the accountant has to do. There are many factors in determining the fee. Such as: How many members are there in the LLC? Do you have all the financial statements already prepared? Is the accountant preparing the LLC return and your personal returns as well? What rate is the accountant charging you per hour.

Feb 1st, 2008, 02:37 AM	#6
Vegas Long Legs Member Location: Las Vegas	Re: Accounting Advice Needed. We're charged about $30,000 per year which includes all financial statements & tax returns from CPA. We have a full time bookkeeper who puts together monthly reports & give them to CPA. 2 companies, one subchapter S & one LLC. Have had this accountant 33 years & never been audited, he errors on side of caution. He was also DH's frat brother. __________________ Northern Europe July/Aug

Feb 3rd, 2008, 12:43 AM	#7
Woofybubbles Member Location: Rio Rancho, NM	Re: Accounting Advice Needed. Thank You all for your help. I do feel better now and I will be calling some of my sub-contractors that have their own businesses and find out if $900 is fair. The reason I asked is because I felt that my taxes are rather easy, I really just build 1-2 houses a year. The rest of my time is spent at the family business. Like Emmy, my papers are all done and very organized when I give them to him. That fee does only include my LLC returns, my personal returns are about $100.00. My family has worked with him for about 20 years and we have never questioned our fees until now. He is charging me just $200 less than my parents and they have much more complicated books. (they actually have employees, I just hire subs to do the work for me) Thanks again for all your help.

Feb 3rd, 2008, 10:34 PM	#8
Zophie I <3 my Maltese! Location: New Orleans, LA	Re: Accounting Advice Needed. I am an independent contractor but a sole properitor, not an LLC. I have never paid more than $260 for a CPA to do my taxes. But I don't have an itemized return and don't have a corporate return. I also bring her all of my income and expenses organized on spreadsheets so all she has to do it simply put it on the right place on the return and send it in. __________________

Feb 7th, 2008, 03:06 AM	#9
BigPurseSue Member Location: Amid the prairies of the Midwest with the tiger swallow-tail butterflies.	Re: Accounting Advice Needed. $900 isn't a lot if you're a small business with employees. But the rates do vary a lot depending upon the accounting firm and the complexity of your taxes. About 10 years ago the firm that did my taxes jumped from $450 a year for a small business and joint return, to $1100 the next year for the very same taxes. I've been using Turbotax ever since.