Reasonable CPA fees?

[Sangenya Machi]

Hi all,

Im currently holding a property under an LLC last November. I hired a CPA to do our taxes and bookkeeping.

Recently, he sent me an invoice for all his services. It was about $550 for the tax returns, which is quite average according to my research.

He also charges about $160 per month to prepare our monthly financial statements. (I send him the company bank statements and expenses every month)

But my main concerns are the Review Doc & Setup Partnership Chart of Account fees and the State & Federal Software fees.

The Review Doc & Setup Partnership Chart of Account fee is $1400!

The State & Federal software fee is $105. 

Are those fees normal in your experiences? 

[Steve Vaughan]

Thank you for sharing this atrocity, Sangenya.  I was considering hiring a tax person until now.

So all that for 1 property? Guess they figure you are ripe for a cleaning because of the LLC. The 1065 and k-1s are cake as long as less than $1M so you don't need a sch L or M be completed.

I do taxes for 2 LLCs, an s-corp, a sale or 2 most years and 30+ rentals.  No way I can afford to not do it myxelf. Thanks for the warning! PS- you are being screwed.