Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 04-15-2014, 06:31 AM
Junior Member
 
Join Date: Apr 2014
Posts: 1
Cost of tax perpetration

Hi all,
I just want to try to cure my frustration. I had a pretty complicated tax return including a short sale and LLC. I didn't want to do it alone like I usually do. I gave an accountant all my info on Feb 20. Now He's scrambling to finish today and is charging me $1500??? Is that normal?

Thanx for any responses.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 04-16-2014, 04:41 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,233
Quote:
Originally Posted by Emo7874 View Post
Hi all,
I just want to try to cure my frustration. I had a pretty complicated tax return including a short sale and LLC. I didn't want to do it alone like I usually do. I gave an accountant all my info on Feb 20. Now He's scrambling to finish today and is charging me $1500??? Is that normal?

Thanx for any responses.
Income Tax accountants can charge a variety of fees to prepare your tax returns each year. Rates will vary depending on how many forms need to be filed and the complexity of the business or personal return. more complicated returns with unique situations requiring hours of additional work, or close work by a partner (versus an associate) can make a return costly I guess hard to tell it is too high or proper or etc aas it depends on your return(depending on the type of work, the size of the firm and its location.). for example, The owner of an established Northern CA retail store with 12 employees generates her own monthly financial statements using QuickBooks software but budgets about $300-$400 annually for two hours of consultation with her accountant. Your needs will vary depending on the complexity of your business and your industry, and how much you already understand about business finances. For business returns, some individual CPA's charge a sliding scale, based on receipts. For example, if your business has annual receipts of $500K, they can charge a fee of $400. However, for a business with annual receipts of $1 million, they may charge $850 to file the return.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Cost of revenue? tylergoo Sole-Proprietorship 1 04-13-2014 02:21 AM
Cost of Goods dchcprof For 2013 1 03-17-2014 03:02 AM
cost basis dbkc Capital Gains 1 02-24-2011 09:45 PM
Cost basis????????? narekkm Capital Gains 1 02-19-2009 02:06 PM
Cost Segregation ? SherryC Income 4 07-19-2007 06:12 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning