tax return cost

[jeffs]

I own 7 self serve washes and a mobile fleet service. I am a S corp. I do all my own accouting on quickbooks all they do is the return. my bill is 5000.00.
What is your bill for same service?

Thanks Jeff

 

[Jim L.]

WOW! I too do my own books. I furnish my CPA with a Balance Sheet and an Income Statement for my S corp. He only prepares the return.. This year’s bill was $320. He also did my personal return for $125.

 

[Doug P.]

S corp with 9 washes, $400 from my cpa firm. I keep my data on quicken and give them a summary to do the return. I have used the same firm for 24 years.

 

[pitzerwm]

Jeff, I hope you at least get a kiss because you sure are getting scr**ked.

 

[Ben's Car Wash]

Yep... me too... to have my CPA file and prepare my 1120 S usully runs $600 and my personal about $400. It shouln't mater how many washes you have if they all run under one corp. My accountant does all of my books, cuts all of my check, does all deposits daily, reconsiles EVERY DAY and files UCT-6, 940 & 941 for $400 a month. My books are up to date within 48 hous of my operation.

I'm with Bill..... your getting screwed.

Did you enter in with his service with an "ENGAGEMENT LETTER" to define what his service were and his cost? If not I would question him about that or you can file a complaint with their national organization.

 

[wendy's wash]

h. r. block

I have 2 ss washes and my personal taxes done by H. R. Block. I give them the spreed sheet and they put info on return. It cost me $524.00 this year.

 

[ted mcmeekin]

We so same with quickbooks. This year bus retrun was $350 and pers $275--the guy is great to work with and we have total confidence that we do not leave any money on the table--he is somewhat agressive and has never lost to the IRS.

Ted

 

[bigleo48]

Sometimes, you get what you pay for. We too do all our own books and supply the quickbooks file at the end of the year to our accountant. He and his staff will review them, prepare the statements and file. We also have a meeting where we discuss all aspects of the business (depreciation, allocation of expenses, etc). Every year he comes up with something brilliant that saves me a pile. I aslo call him on a semi regular basis for advice. My yearly bill is about $2000.

Also, he washes his three cars weekly through my IBA with the top wash. I should barter with him, but in the end that's just under $2k in washing.

BigLeo

 

[jeffs]

Bigleo48-carwashing is easy but that keg of beer you are drinking looks like a hard job.

 

[Waxman]

My first year as an S Corp was $1200. Second was $1500. Third was $1700.

Called the firm and they said 'don't expect the price to go down, but it probably won't go up, either.'

Found a firm 1/8 mile from the wash who'll do my return for $750. I also do all my own QB and provide the accountant with a backup copy prior to tax time.

Just need to end my relationship w/old firm on a good note in case I ever need them for something.

 

[bigleo48]

Bigleo48-carwashing is easy but that keg of beer you are drinking looks like a hard job.

Life's not always easy

 

[pitzerwm]

Unless, you have a complex situation, i.e. using a number of sophisticated tax loop holes, with Quick Books and Turbo Tax, you can do your own. CPAs are charging about $150-$200 an hour. I know that they all think that they are irreplaceable, but unlike a Dr. or an Attorney, you can learn what you need to know. I found that every CPA that I hired made mistakes , which led me to go to school taking accounting, and reading the tax books to catch the mistakes, eventually, I started using TT and never looked back.

 

[bigleo48]

Not sure if this applies to you guys, but to get a bank loan here, the banks wants yearly reports prepared by a certified accountant. They even have a list of prefered accounting firms you can use. They will not accept something that has not been professionally stamped.

BigLeo

 

[pitzerwm]

Bigleo, I think that would depend on the size of the loan and what bank. I know things are different now, but I never had to provide a stamped P&L, usually a copy of 3-4 years of your tax returns worked. In light of the screwups that most banks have been doing, there is no doubt that you will have to jump through more hoops to get less.