CPA Charge???

Discussion in 'Business Operations' started by LoneStarLawn, Feb 11, 2001.

  1. LoneStarLawn

    LoneStarLawn LawnSite Bronze Member
    Messages: 1,415

    How much do CPAs charge? I'm trying to due our taxes, but it seems that it may be too much for me to due and I'm afraid I might miss something that will benefit us. We are a two man partnership therefore we have to file a 1065 and I'm having trouble.
  2. Vandora Lawn & Landscape

    Vandora Lawn & Landscape LawnSite Senior Member
    Messages: 386

    Look for a personal reference. I would guess $200-300. It could be more or less.
  3. Rex Mann

    Rex Mann LawnSite Senior Member
    Messages: 621


    I own my own landscape contruction company. My wife owns her own industrial supply business. We have one CPA. He takes care of all her quartely estimated taxes and sales tax. He takes care of the following for me:

    employee with holdings
    worker comp
    W2 statements
    unemployment taxes

    And, he does our taxes. I can also call him when I have a question about something for no extra charge. He is priceless to us because, I know everything is done correctly.

    He charges us $700.00 per year

  4. Stonehenge

    Stonehenge LawnSite Bronze Member
    from Midwest
    Messages: 1,276

    We have our taxes done by a big firm. Both personal and corp taxes (but we are a small corp).

    You will likely find chrages of anywhere between $30/hr to $150/hr, or more.

    Checking references is always a good idea, but I got a dud even after checking refs. Most offer a free 1-time consultation through the Chamber of Commerce. Use that to talk to them, see which ones explain things thoroughly to you, so that it makes sense to you.

    We handle all our own payroll and monthly and quarterly filings, and the simple annual filings (SS, FUTA, SUTA, and all the others that quickbooks can do for you with a few clicks of the mouse), but we use them for annual returns we can't (which will differe from yours as a partenrship). we get charged about $500-600 annually, and they only work with us for 1 mo out of the year.

    One thing you'll have to be aware of: Because this will be the start of your CPA relationship, you will incur quite a bit in hourly charges just so they can familiarize themselves with your business. They need to look at past records, look at the current year's stuff, etc. One thing that'll help keep charges down - have everything organized. If you use quickbooks or some other software, have that up to date when you see them. It'll save them time, and you $$.
  5. LoneStarLawn

    LoneStarLawn LawnSite Bronze Member
    Messages: 1,415

    Should I just try to figure it out on my own since last year was our first year and not really a big year or should I go to a CPA. I have all my numbers and reciepts just can't figure out where to put the numbers on the 1065 and K-1 schedule (like expenses for bought equipment and truck mileage).
  6. Charles

    Charles Moderator Staff Member
    Messages: 8,933

    The IRS is less likely to audit you if you use a CPA. I have heard. 300$ to(basic one man operation) 400 plus is the going rate in our area
  7. Stonehenge

    Stonehenge LawnSite Bronze Member
    from Midwest
    Messages: 1,276

    I'd use them as soon as you can. I used a CPA my first year in biz, when it was just me. Keeps you out of trouble, because you're working with someone who (presumably) knows their stuff.

    Plus, it gives you one more person/group that you can network with, get more biz from.
  8. Fantasy Lawns

    Fantasy Lawns LawnSite Bronze Member
    Messages: 1,912

    my books, payroll & taxes about $600 yearly $$ I spend each year ....all I have to do is sign the checks and with pc anywhere & quick books I have daily access to all the numbers
  9. Mike Nelson

    Mike Nelson LawnSite Senior Member
    Messages: 416

    We pay about $200 a month for our CPA.
    It really is the best money we spend.
    They keep you out of trouble with the tax man.:)
  10. John Allin

    John Allin LawnSite Bronze Member
    Messages: 1,488

    Got audited by The MAN three times in my first 5 years in business. Then got a CPA. Haven't been audited in 18 years. Same CPA. Feels good.

    Don't like talkin to The MAN.

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