I know it depends on what is involved but would you say a certain percentage of your net income is a possibility ? If what is involved is a few stock transactions, a few K-1's etc. What would be a fair bill?
I have never heard of a percentage of income being used as a barometer. It's usually a fixed hourly rate. Depends if it's a small one person cpa firm, which I think runs around $100-150 an hour (or for the tax return itself), to 500 an hour or more at a large firm if you need specialized resources. depends on the complexity and specialization needed.
Includes Quarterly filings and EOY Returns, personal and business. This also includes any interaction with the Feds and State. I simply send the packets to my accountant and they go away. Worth every penny.
However, I began using Turbo Tax about 7 years ago and have not looked back once.
It does a great job on both returns. My wife as a small business which we turned into an LLC about 4 years ago.
I used to pay the account about $800 for both returns.
I now pay Turbo Tax about $200 for both products and another $200 to an accountant who does a review of the Turbo Tax.
I think my accountant got lazy and just filed the same way each year. I was able to find many more deductions via Turbo Tax's suggestion.
the firm I work for does business tax filings for single state businesses with 12 or fewer employees for $1500.00 per year.
Includes:
Corporate tax returns (Fed, State, Local)
Personal tax returns of Owner
Quarterly payroll tax filings
Payroll service throughout the year
Sales tax filings
1099 & W2 annual reconciliations
Problem resolution
Pretty much anything you need
Additional charges would be opening or closing a corporation and any audit services needed.
Hopefully that can give you an idea of what you should be able to get for what you pay.
shouldn't be more than a couple grand.
Seriously, I pay about $650 for state + federal joint returns.
It does a great job on both returns. My wife as a small business which we turned into an LLC about 4 years ago.
I used to pay the account about $800 for both returns.
I now pay Turbo Tax about $200 for both products and another $200 to an accountant who does a review of the Turbo Tax.
I think my accountant got lazy and just filed the same way each year. I was able to find many more deductions via Turbo Tax's suggestion.
Includes:
Corporate tax returns (Fed, State, Local)
Personal tax returns of Owner
Quarterly payroll tax filings
Payroll service throughout the year
Sales tax filings
1099 & W2 annual reconciliations
Problem resolution
Pretty much anything you need
Additional charges would be opening or closing a corporation and any audit services needed.
Hopefully that can give you an idea of what you should be able to get for what you pay.