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  #21  
Old 02-12-2014, 09:31 AM
lego lego is offline
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Quote:
Originally Posted by RedSox4Life View Post
The first year you buy the insurance you just estimate your payroll. After that you fill out an audit each year.
That sounds completely easy. Everyone makes it out to be so difficult so they can make some money off of it.
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  #22  
Old 02-12-2014, 09:36 AM
britsteroni britsteroni is offline
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Lego,

You should give www.surepayroll.com a look. Probably would be $60 bucks a month or so and they take care of everything.

Also, you shouldn't search for an accountant based on price alone. Anyone who thinks they are getting good, sound financial and tax advice for running a small business at $250/year is fooling themselves... Heck, HR Block would be double that for the tax prep alone assuming a schedule C business.

(Hint: Any accountant worth his/her salt is going to charge way more than $50 and hour. Those are low end bookkeeper rates...)
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  #23  
Old 02-12-2014, 09:45 AM
lego lego is offline
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Thanks for the reality check on you get what you pay for. My accounting is $90 an hour for his services, they use low end bookkeepers who are like $40 an hour to prepare everything and then the CPA goes over it etc.. I'm guessing my bill there will be about 500-750$ for this year, maybe more as they have helped me clean up my books and bookkeeping methods a good bit. My girl goes to HR and I think she just ended up paying ~500? I'm expecting more than that. But when you see $250 for business, husband, and wife you can't help the initial thought I guess.

Thanks for the link, I'll check out it out. The only perk of Quickbooks Payroll is that it integrates with my Quickbooks desktop that I use for invoices bill paying etc.
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  #24  
Old 02-12-2014, 09:49 AM
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RedSox4Life RedSox4Life is offline
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Join Date: Sep 2007
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Quote:
Originally Posted by britsteroni View Post
Lego,

You should give www.surepayroll.com a look. Probably would be $60 bucks a month or so and they take care of everything.

Also, you shouldn't search for an accountant based on price alone. Anyone who thinks they are getting good, sound financial and tax advice for running a small business at $250/year is fooling themselves... Heck, HR Block would be double that for the tax prep alone assuming a schedule C business.

(Hint: Any accountant worth his/her salt is going to charge way more than $50 and hour. Those are low end bookkeeper rates...)
Who said they were getting financial and tax advice? I said they do my tax prep. I use a local, reputable business that do payroll and tax services for a ton of local, small businesses. I have complete confidence in them and enjoy working with them.
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  #25  
Old 02-12-2014, 10:12 AM
britsteroni britsteroni is offline
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Quote:
Originally Posted by lego View Post
Thanks for the reality check on you get what you pay for. My accounting is $90 an hour for his services, they use low end bookkeepers who are like $40 an hour to prepare everything and then the CPA goes over it etc.. I'm guessing my bill there will be about 500-750$ for this year, maybe more as they have helped me clean up my books and bookkeeping methods a good bit. My girl goes to HR and I think she just ended up paying ~500? I'm expecting more than that. But when you see $250 for business, husband, and wife you can't help the initial thought I guess.

Thanks for the link, I'll check out it out. The only perk of Quickbooks Payroll is that it integrates with my Quickbooks desktop that I use for invoices bill paying etc.
Lego,

Nothing wrong with wanting to feel like you are getting a good deal for the services your accountant is providing.

As far as what to expect in payments, somewhere in the neighborhood of $500-$750 for a schedule C business wouldn't be out of whack. If you give them a clean set of bookkeeping records, then you might be able to find it cheaper. If you throw them a box full of receipts and say, "Figure it out!" your bill will probably be 3 to 4 times that amount.

Obviously when you are starting a business, price is an important point. But as your business grows, you want to partner with someone who you can trust. Trust is far more important than price as your accountant will be presenting legal documents to the IRS and other bodies that could get you in a heap of trouble. They will also be providing tax planning and other advice that you really will have to trust them with unless you want to try to be a jack of all trades.

After saying all that, I think charging by the hour is a dying breed in all professional service businesses. If you know you are going to get a bill every time you call with a question, you're probably not going to pick up the phone and call when you need help or advice. So I would look for someone who will give you an estimate of fees or a monthly charge for a package so that way you know your costs ahead of time and don't have to worry when you are going to get another bill in the mail (or inbox).

I work with a lot of small businesses and the range of services can be from tax return only all the way to completely full service (tax planning meeting, tax returns, payroll, outsourced bill pay, outsourced bookkeeping, etc). We try to do our best to work on fixed monthly retainers so our clients can properly plan their cash flow and know what to expect rather than creating an adversarial relationship.

As some advice, I might reach out to some local landscape and lawn guys. Take a few to lunch before spring gets here (you pay). Ask them about the CPA/accountant they use, how much it costs, what services are involved, and finally how much it costs.

Also, Sure Payroll provides the back end of our payroll solution for clients and we really like working with them and so do our clients. So they would have my recommendation.
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  #26  
Old 02-12-2014, 10:28 AM
britsteroni britsteroni is offline
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Quote:
Originally Posted by RedSox4Life View Post
Who said they were getting financial and tax advice? I said they do my tax prep. I use a local, reputable business that do payroll and tax services for a ton of local, small businesses. I have complete confidence in them and enjoy working with them.
The point being that the service you are describing is nothing like partnering with an accountant for the long haul. You go to a person who fills out forms. Most people want someone they can trust and build a relationship with, not just a glorified data entry clerk.

Again, not to criticize you or others, but anyone who thinks someone who fills out forms is a good candidate to help you plan for and achieve growth while minimizing taxes and maximizes money in your pocket just doesn't get it.

You are free to do whatever you want. Sorry if it seemed like I was criticizing you. That wasn't my intent.
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  #27  
Old 03-02-2014, 12:58 AM
dynamicearth dynamicearth is offline
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Join Date: Oct 2012
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I use Paychecks for my payroll. It's $65 for every 2 weeks up to 5 employees. They handle everything and do ALL my filings for Federal, State, Local. Plus they provide all the employee posters I have to have for unemployment etc. I've been pretty happy with them. Plus they send out W4 at end of year. You can also put service on "hold" during the off season for no charge.
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  #28  
Old 03-03-2014, 08:56 AM
lego lego is offline
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Quote:
Originally Posted by dynamicearth View Post
I use Paychecks for my payroll. It's $65 for every 2 weeks up to 5 employees. They handle everything and do ALL my filings for Federal, State, Local. Plus they provide all the employee posters I have to have for unemployment etc. I've been pretty happy with them. Plus they send out W4 at end of year. You can also put service on "hold" during the off season for no charge.


I ended up just going with my accountants firm, the broke things down for me
ended up being $50 a month and $50 every quarter. They do everything from federal to local, w4's, etc. etc. and won't charge me for the off season. Atleast I know its being done right and I can afford $50 a month.
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  #29  
Old 03-03-2014, 04:56 PM
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M&A Property Maintenance M&A Property Maintenance is offline
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Quote:
Originally Posted by RedSox4Life View Post
Maybe you should shop around. The local company I use is $65 a month, 8 months a year. They do literally everything, including issue ing the checks. All I have to do is submit employee hours on friday, and record their pay, state and federal debits, which all come in a nice report from the payroll company.
can you share the name and info for this company?
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  #30  
Old 03-24-2014, 10:23 PM
MJH MJH is offline
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I have used Quickbooks payroll for years and I love it. It's $475.94 for this year, but I pay by the year.

I don't have any local taxes, so that's not an issue. Any employees living in a city that collects local taxes needs to handle that themselves.

My accountant does year end stuff and I have one of his staff members work with me as needed with any questions during the year, usually free unless I have them file stuff on my behalf.

My year end taxes he does are for Form 1120S, Schedule K, Form 4562.

I pay him additionally for adjusting my books at year end to reflect all the stuff they did with depreciation and retained earnings, etc.

I pay about 25% more than the guy I used when I started, and more than worth it! Not all tax accountants are smart and worth what they charge.

Of course, if you are running just a couple of employees, there is no reason you can't do taxes with Excel. It's basic sixth grade math. I like Quickbooks Payroll most because it's so fast and I get the reminders. When I first started I was doing it all by hand.
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