Do u pay your accountant monthly?

[SLCINC]

Hello,

Just wondering how much u guys pay ur accountant. Do u pay monthly or just have them do u taxes annually. If u pay them monthly, what do they do and is it worth it? and When did u decide that it is needed?

[joesimoes2]

We have a company that runs the pay roll. And the accountant keeps the books as far as prices I wish I was paying lese.:drinkup:

[SLCINC]

how much do u pay?

[M&MLawn]

I actually run my own company doing the invoicing, payroll, online advertising, brochures, mailings and such for small businesses. I do plowing, landscaping, construction customers mostly. I work from my home office and do everything remotely. Customers submit their time sheets, numbers for invoicing, whatever info to me and then I do all the follow up. I even have a few customer phone lines that come in here.

To determine pricing you really need to figure out exactly what you want this person to do. Will it be more of an office manager or just simply tax prep?

Michelle
M&M Landscaping

[barefootlawnsandlandscape]

We pay monthly to our accountant. He does payroll, fills out all payroll tax forms, sales tax forms, reconciles quickbooks with my bank account, does profit analysis on a quarterly basis, prints and enters all checks for bills into quickbooks, and meets with my wife on a weekly basis. Our business has cash flowed much better since we brought him on.

[SLCINC]

how much do u pay barefoot. that is something that I would need. I can do the invoicing myself. I probably wouldnt need weekly meetings though, monthly should be ok.

[Grits]

At this point I just pay my accountant whenever I use him for something.

[SLCINC]

Ok well let me ask this, does $120 monthly plus $350 start up and $300 to do my taxes sound fair?
The start up includes set up as LLC, and quickbooks training. the monthly fee includes payroll and quickbooks support and does all the tax prep and does numerous reports.

[J&T Kiev]

I pay my CPA monthly for payroll service, tax forms filled out, Tax prep. My wife and daughter(former CPA ) do the Quick books- book keeping in house.

[SLCINC]

How much do u pay your accountant monthly

[barefootlawnsandlandscape]

We pay him around $250 a month plus yearly tax preparation.

[Gatewayuser]

I have part time office help who accounting, answers the phone and a weekly payroll service. At the end of the year I take everything to the CPA.

[man of stihl]

my mom takes care of all the paperwork and billing for me. we use gopher software. she doesnt charge me anything, just gets taken out for dinner every once in a while:clapping:

[bj1bmx]

yes, the prices you quoted sound more than fair. actually sounds like you are getting a deal, unless you have a very small company that has no complexities.

you are likely looking at $100+ an hour for tax preparation work, while $30-75 an hour is more like it for bookkeeping (so you have an idea what your time is worth v. theirs. this differs whether they are a CPA or just an accountant with no certifications.)

[mpickel]

We are still small enough that we do all office management, Quickbooks, etc. in house. Our accountant just answers questions periodically. I have a BS in accounting, but differ to her on the bigger issues. Better safe than sorry.

She charges $75/hr for support, $250 for tax return, $100 for franchise tax return. She revues our books while doing the tax return to make sure there is nothing questionable, or she will ask questions or want support for some items.

My only advice would be to get to know your accountant and trust them and make them give you a price upfront. I had some clown try and charge me $3,000 for my tax return my first year (in actual business one month the first year). This invoice was 75% of my total revenue. I thought I liked this guy, but he kept telling me complexity determines price. Sounded reasonable until I found out he was obviously delusional.