• Online Events For Landscapers!
    With GIE+EXPO cancelled, virtual education and product launches are filling up the fall. Check out dates for Caterpillar, Exmark, NALP, and more. Click here to learn more.

1st year Accountant Fees - SHOCKED!

JHLawns

LawnSite Member
Location
NJ
I just started my business officially in November 2006. Trying to do everything right, licenses, insurance, accountant, etc.

Our initial meeting with the Accountant was Nov. 4th, couple Quickbooks questions after that then a meeting on Feb 3rd to give paperwork for taxes - already emailed Quickbook copy, picked up Taxed on Mar 3rd.

Received the bill today. $1915.00 then it was reduced by $1000.00 for new customer discount. Final bill $915.00. Is this crazy or normal?
 

LawnSharks

LawnSite Senior Member
Location
Matthews, NC
Seems high to me. I do my accountant's lawn in exchange for his annual service. He prepares all IRS info and files everything as well as does updates on Quickbooks for us. I believe I would shop around. Maybe this fee is for an annual service?????
 
OP
J

JHLawns

LawnSite Member
Location
NJ
It isn't for a year - the invoice is itemized without individual prices but it is only for initial start-up business consultation, preparing & researching taxes, quickbooks support.....

I am in Salem County, NJ not New York City!!!!!!!!
 

DanaMac

LawnSite Fanatic
Sounds extremely high to me. My accountant does my company (S-corp) and personal year end taxes for about $850. It does sound like they did some different things for you, but not $2000 worth.
 

razor1

LawnSite Bronze Member
Location
Maryland
Time to find a new CPA. I dropped my last CPA for rates like that, after using them for many years.
My new CPA is about 1/2 the cost.

To avoid sticker shock. Always ask for a price quote up front. (Every year) :hammerhead:

Good Luck
 
OP
J

JHLawns

LawnSite Member
Location
NJ
Actually, I did ask the fee on the very first meeting and was told depending on the complexity of the tax return could be $200 - $500. Never was there a mention of any other fees.

I guess I take it as a very expensive lesson.
 

Woody82986

LawnSite Silver Member
Location
DFW, TX
Yup, seems like you got hosed. My accountant charged me $50 for an initial one hour consultation that stretched into more than 2 hours. My taxes are simple enough that I can do them myself, but sometimes I call him when i have a question. He always answers my questions. Every time I call and talk with him i expect a bill in the mail from him but I never do. I even called up there a couple times wondering why I had never received a bill for his services and he always just tells me that I know what I am doing and the questions I ask aren't tough enough to warrant billing. haha
 

Duekster

LawnSite Fanatic
Location
DFW, TX
I pay two hundred per month. I don't send him a quickbook file. He gets copies of all of my CC / Bank statements, and copies of my checks.

I have been told that I am getting a great old school service for a low price. The return is about $500 for the company.
 
OP
J

JHLawns

LawnSite Member
Location
NJ
I see there is a range of prices and I am getting the picture that I got had.

To clarify my situation a little - I am a brand new start-up LLC with no employees just myself, I filed my own LLC papers and all state & county required registration paperwork.

The company was just formed in November 2006 and I only had a couple jobs last year.

I was thinking if that was the price of an accountant then for 2007 it will be astronomical.
 
Top