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What is the typical charge for pro tax accountant?
Posted on 1/22/15 at 9:52 am
Posted on 1/22/15 at 9:52 am
I've mentioned here before, but I'm about to shop for someone to handle our taxes for the first time. We're not overly complicated, just beyond my comfort zone.
In case it might matter, this year we have converted primary residence to rental property, bought a new house, normal contributions to church/charities, paid child care (sheltered $5,000 of that), contributed to college savings plans....other normal stuff...nothing too extravagant.
Do pros typically charge a percentage of the refund or a flat rate?
In case it might matter, this year we have converted primary residence to rental property, bought a new house, normal contributions to church/charities, paid child care (sheltered $5,000 of that), contributed to college savings plans....other normal stuff...nothing too extravagant.
Do pros typically charge a percentage of the refund or a flat rate?
7
Posted on 1/22/15 at 10:03 am to AUjim
Can vary widely depending on where you live and the size of the firm. I recommend finding a smaller firm in your area. You'll get better service than you would at a large firm.
It's a flat rate based on time spent preparing the return. Based on what you provided, I'd estimate anywhere from $250-$500.
I'd get on the ball now finding one and getting an appointment. As it gets later in the season, many CPA firms are anticipating having to turn business away due to more time having to be spent on returns with the new ACA requirements on individuals and the repair regs on business returns.
It's a flat rate based on time spent preparing the return. Based on what you provided, I'd estimate anywhere from $250-$500.
I'd get on the ball now finding one and getting an appointment. As it gets later in the season, many CPA firms are anticipating having to turn business away due to more time having to be spent on returns with the new ACA requirements on individuals and the repair regs on business returns.
Posted on 1/22/15 at 10:04 am to AUjim
quote:
Do pros typically charge a percentage of the refund
If you find someone offering to do this, leave immediately. It's generally based on the complexity of the return.
Posted on 1/22/15 at 10:05 am to AUjim
I have a similar return as you and a similar situation where I just didn't feel comfortable doing it myself. My guy charges me right around $200-250.
This post was edited on 1/22/15 at 10:12 am
Posted on 1/22/15 at 10:11 am to AUjim
I'm a staff accountant for a mid-size firm in Illinois. We charge a minimum fee of $225. Most indiviudals are charged the $225 fee unless they have a very complicated return that takes us more time.
I'd be happy to add you as a client if you'd like to mail your forms to Illinois
I'd be happy to add you as a client if you'd like to mail your forms to Illinois
Posted on 1/22/15 at 10:51 am to AUjim
Depends on the size of the firm, whether it's a CPA or EA or H&R Block, some places charge by the form, and most charge by the hour with a minimum.
Also, where you live varies a whole lot. My firm in Houston had a minimum fee of $1,000 for an individual return (unless it was a child) and this was four years ago. My current firm in NOLA doesn't have a minimum, but with our rates and fees you really can't get it done for less than $350. And my NOLA firm is twice as big as the Houston firm was.
I would not go to one of the retail places, but you might be able to go to a good Enrolled Agent or a one-guy-shop CPA with the issues you described. There might be a slight extra charge this year to set up the depreciation schedule on the conversion of property.
All CPAs and EAs are strictly forbidden by IRS policy to charge based on percentage of refund for an original tax return. If anyone offers that it is a huge red flag.
Also, where you live varies a whole lot. My firm in Houston had a minimum fee of $1,000 for an individual return (unless it was a child) and this was four years ago. My current firm in NOLA doesn't have a minimum, but with our rates and fees you really can't get it done for less than $350. And my NOLA firm is twice as big as the Houston firm was.
I would not go to one of the retail places, but you might be able to go to a good Enrolled Agent or a one-guy-shop CPA with the issues you described. There might be a slight extra charge this year to set up the depreciation schedule on the conversion of property.
All CPAs and EAs are strictly forbidden by IRS policy to charge based on percentage of refund for an original tax return. If anyone offers that it is a huge red flag.
Posted on 1/22/15 at 12:31 pm to AUjim
My accountant charges me $100. I do not itemize. Just standard. I recently had a problem with the IRS. They were wrong. I was right. But I let him do the fighting and he only charged me $80. He saves me a lot of mental anguish.
He told me "Zach, I'm on the phone with the IRS all the time. They are not very bright people."
He told me "Zach, I'm on the phone with the IRS all the time. They are not very bright people."
Posted on 1/22/15 at 1:26 pm to Zach
quote:
I'm on the phone with the IRS all the time. They are not very bright people.
And now there are fewer of them - both people to answer the phone and very bright people.
Posted on 1/22/15 at 2:13 pm to AUjim
quote:
Do pros typically charge a percentage of the refund or a flat rate?
With the amount of money my clients tend to owe if never make any money charging percentages.
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