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Updated almost 8 years ago on . Most recent reply

User Stats

317
Posts
72
Votes
Paul Winka
  • Rental Property Investor
  • St Louis, MO
72
Votes |
317
Posts

CPAs & CPA clients: help me feel OK about my big CPA bill.

Paul Winka
  • Rental Property Investor
  • St Louis, MO
Posted

So I am trying to get my "team" together as I develop my r/e career so I quit using a vanilla, nonspecialized tax preparer and hired a CPA and spent $500 for a few hours of her time for QB set up assistance. I keyed in a few hundred transactions, sent the CPA my QB files. I then got an estimate to prepare my return of $900 in February. Ok, fine. Tax season is over, Uncle Sam has been paid, but now I just got emailed a bill from my CPA for $1600. I have 2 rental properties, 1 earned income, a relatively simple return. 

I keyed all my stuff in QB and did it so well that the CPA said no changes were made. $2100 ($1600 + $500) seems like a lot considering I was paying $300 for tax prep before. Only thing that I could see raising the bill is that I am new client and some review of depreciation schedules for my properties would need to be validated in past years' returns. But that's it. 

Truth is, I will admit being ignorant about having a frame of reference for what CPA tax prep should cost like what gallon of gas or loaf of bread should cost, so I might be concerned over nothing. If this is just the cost of doing business, so be it, but I really don't know. Would appreciate others weighing in with their feedback. Thanks! 

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