CPAs/ Bookeepers

Discussion in 'Lawn Mowing' started by eggy, Dec 16, 2000.

  1. eggy

    eggy LawnSite Senior Member
    Posts: 954

    Just wondering how many of you use a CPA year round or just at tax time, I have been thinking about locating a good one around here and let them handle the books next year...just wanted your thoughts, and maybe the price I can look at paying for his or her services. Also would like them to handle payroll for me and two seasonal employees.any input is appreciated!
     
  2. Barkleymut

    Barkleymut LawnSite Bronze Member
    Posts: 1,117

    I just went to visit a CPA last week. The previous 2 years have been terrible. The first guy was a schmuck, I was his last priority. Last year I used an accountant who wasn't a CPA. She wasn't bad but not aware enough of deductions that I could have been taking, and I'm afraid she gave me some bad advice. Anyways this year I decided to hire a CPA who knew what the heck he was doing. He was referred by Mowin4cash another lawnsite member. The CPA seemed knowledgeable but a bit pricey. For $136 a month he will prepare all of your reports and give you advice once every quarter. For another $35 per month he will handle your payroll. Me and my wife are the only employees so we will handle the payroll but I am considering the $136/month. If I can save a couple grand a year because of his advice it will be well worth it.
     
  3. bob

    bob LawnSite Platinum Member
    from DE
    Posts: 4,254

    At first I had a tax man who just did returns. He was never around to answer any questions. Now I have a full time CPA. He's always been available to answer questions.
     
  4. leeslawncare

    leeslawncare LawnSite Senior Member
    Posts: 649

    I have a CPA that rents space from the law office my wife works for .She was V.P.for a Dean Whitter before doing CPA work .She helps me out greatly! She took my money an whittled it down to where i didn't pay much at all in taxes !! I also took some left over an put in a ira under my biz .got to always think of retirement!!
     
  5. Ocutter

    Ocutter LawnSite Senior Member
    Posts: 314

    I'll be meeting with two accountants next week. After a list of 14 I have it narrowed it down to 3. I simply said that I'll be doing the main entry in my little brown "DOME" book and I'll take it to them monthly to look it over. They range anywhere from 50-125/hr CPAs are more. Quaterly pices were at the 250 range. Same for year end taxes. Some were nice and said that they dont bill like lawyers (running meter for phone calls) thats a plus. I needed someone to tell me the deductions I can take and then where to put the extra money. My philosophy is the same as other here, spend the grand and it'll return to you with interest.
     
  6. HOMER

    HOMER LawnSite Gold Member
    Posts: 3,183

    I was considering that option after the last 2 years. I think Barkleymut and I have had the same bad experience, one I'm still paying for! Has anyone ever got a second opinion after they had their returns done only to find out the accountant made a mistake? Is it possible to realize a mistake and go back and get it corrected on this years return? If this year turns out bad, again, I will be doing something different.

    Homer
     
  7. eggy

    eggy LawnSite Senior Member
    Posts: 954

    Thanks guys I am still up in the air about it...I do think one at least quartley would help..rather then year end only...however would find it rather funny to pay one during the three slow months but I guess I am buying some equipment during this time and maintence things. I wonder if one could tell me after looking at my records if incorportation is fesiable. The mowing part of this buisness has been a breez that last few years the buisness well ..not such a breeze...
     
  8. Barkleymut

    Barkleymut LawnSite Bronze Member
    Posts: 1,117

    Homer, you can file an amended return. The only problem is YOU NEED TO GET A CPA TO DO IT. So unless you are going to make more than a couple hundred dollars (the price of the CPA doing you return again) its just not worth it. Anyways its like 1 or 2 years that you can file an amended return. Check with your CPA lol. Also remember that you can save a lot on gas taxes. A lot of CPA's don't know this so make a note and tell him/her (oh god I'm politcally correct). Anyways the gas that we buy already has figured into the price what is called a road tax. That is because they figure the people who buy the most gas use the roads the most and should pay for it. Well this is only for gas that is used in trucks and cars. So keep all equipment fuel receipts separate and label them as soon as you fuel up the equipment. This gas costs about 50 cents less per gallon. But you can only get your money back once a year and that is on your return. I hope this helps someone save a few bucks.
     
  9. HOMER

    HOMER LawnSite Gold Member
    Posts: 3,183

    I talked with a guy who told me he did over 100 grand last year and got money back! Please tell me how he did that when I owed over 5,000.00 (and didn't make what he did!) I don't see any way you can do that without fudging somewhere. I leased my truck hoping to get a little more of a break this year and do intend to take the home office deduction, hope it helps. I know it gets personal asking what others wind up paying so I just told ya mine. The guy I referred to did not pay his taxes quarterly either, did them at the end of the year like me.

    Go figure

    Homer
     
  10. Ocutter

    Ocutter LawnSite Senior Member
    Posts: 314

    Barkleymut- That road tax you are talking about can be sent in at the end of the month too. There is only one type of refund for that so I think were talking about the same thing. I send in a form at the end of the month and two months later I get a small refund.
     

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