Looking for feedback on PCS

[Scott Davis]

I had a meeting with a representative from Prime Corporate Services about their tax planning and strategies. They are charging $2995 one time fee $65/month for their service. This includes but business and personal filing and I'm curious if this is high, low, or right in line with what others are seeing. I'm a rookie REI and I'm looking for any feedback any of you may have.

Regards.

Scott

[Nathan Gesner]

I have 12 properties and my personal business. I will spend around $5000 - $7000 a year for tax planning and filing.

[Jack Faysash]

I agree with Nathan for his situation of owning 12 properties, but for someone just getting started I wouldn't suggest getting locked in with the one-time fee.

[Michael Plaks]

@Scott Davis

See if this post helps: https://www.biggerpockets.com/...

[Nanette Irvin]

They have a great sales pitch, but rush to sign you up and not much after that. I was told they take care of everything when setting up LLC. I wouldn't have to worry about anything. Started in Aug of 2024. I am now just learning about the BOI form. When I was made aware by a colleague of mine I emailed them. The customer service informed me they didn't offer this service at the time and they were now informing clients they offer this service. They did not inform me. They also failed to make me aware of this form. Even if they couldnt offer the service to complete the form i would expect them to make me aware i needed to fill it out in the first 90 days as i am finding out now. I had to email them and they wanted to charge me. They also claimed its a new form that recently been required. Looks like is passed in 2022, effective this year. Not like they were unaware of this. They have since offered to comp me and do. Their customer service department is very responsive.

When selling a service as taking care of everything and handling the complete process, this includes all forms, liabilities and considerations for that particular need. The entire reason I hired a company is they are the experts and I expect them to take full accountability of making sure I am in the know and 100% compliant. I do not wish to waste my time watching videos,searching the internet for how tos and what I should be doing.

I have hired another company to handle all other aspects of my financial needs. I recommend anyone else do the same.

[Jason Malabute]

Hi Scott,

Yes, I’ve definitely seen tax planning services priced in that range. However, if you feel you don’t need a tax plan that complex, there are tax planners who specialize in working with real estate investors and can help you craft a tailored plan that’s more affordable. It might be worth exploring those options, especially if you’re just starting out.

[Daniel Tanasa]

I am using Prime Corporate Services for my taxes. They are pretty good. You should be able to get rid of that sign up fee of 3k and have only the monthly charge. Otherwise I don't think is worth it at this point in your investing career.

Good Luck!