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Reasonable CPA fees?
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?
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#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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.