How much does your CPA charge?

[Slav4ikMD]

So I am looking around for a new accountant (basically because I need someone more knowledgeable and up to date than my current one).  (BTW if anyone knows a great person in NYC or suburbs, preferably LI, please let me know!)  Planning to meet with a few people to feel them out, hear what they have to offer and see if we "click."  Went to see the first person today.  Charges 4000/yr for corporate returns and 600 for personal.  1000 bucks for a each quarterly sounds like a LOT to me (and my stuff is simple, I am solo, this is not a group or anything major) - what are typical ranges these days?  (I currently pay 1500/yr plus 575 personal, but my guy is a tax preparer with an MBA, not a CPA, so I imagine cheaper).

Just wanted to get a feel for what others are paying.

As an aside, a bonus question:  it looks like I should not have started to have my PLLC taxed as an s-corp to begin with - perhaps another wrong move by my current guy - does anyone know if this can be "undone" for coming years?  The CPA I met today said it can't and I am stuck with it, unless I form another PLLC.   Is that accurate?  Grrrr all this stuff is so confusing and complex!

[jfoxcpacfp]

Slav4ikMD wrote:

So I am looking around for a new accountant (basically because I need someone more knowledgeable and up to date than my current one).  (BTW if anyone knows a great person in NYC or suburbs, preferably LI, please let me know!)  Planning to meet with a few people to feel them out, hear what they have to offer and see if we “click.”  Went to see the first person today.  Charges 4000/yr for corporate returns and 600 for personal.  1000 bucks for a each quarterly sounds like a LOT to me (and my stuff is simple, I am solo, this is not a group or anything major) – what are typical ranges these days?  (I currently pay 1500/yr plus 575 personal, but my guy is a tax preparer with an MBA, not a CPA, so I imagine cheaper).

Just wanted to get a feel for what others are paying.

As an aside, a bonus question:  it looks like I should not have started to have my PLLC taxed as an s-corp to begin with – perhaps another wrong move by my current guy – does anyone know if this can be “undone” for coming years?  The CPA I met today said it can’t and I am stuck with it, unless I form another PLLC.   Is that accurate?  Grrrr all this stuff is so confusing and complex!

Click to expand...

Depends on how complicated your return is. The price you were quoted sound quite high to me - but maybe your bookkeeping system is a mess and they are having to recreate a whole year. (EVERYONE thinks their business is simple - it's a running joke in CPA firms:-) ) By the way, an MBA does not really have anything to do with taxation or even busines consulting for that matter. The CPA should be the minimum requirement if you need expertise beyond taxation (EA is usually ok for taxation only). At the same time, when I passed the CPA, I knew the basics of accounting and taxation but most of what I have learned after was OTJ training.

If your books are in good shape, assuming no complications, I would expect it to cost you about half of what you were quoted, including audit protection and any future amendments. $2,500 tops. NYC is one of the more time-intensive locations because of the local reporting and the possibility of future audit.

I answered your question about dissolution on another thread.

[EH]

$300 personal, no business though so probably much easier. Sounds like you should continue your plan of shopping around...