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Updated 10 months ago, 01/24/2024
Prime Corporate Services?
Has anyone used Prime Corporate Services (PCS)? My partner and I set up a legal entity with them and are considering using their tax services - one time set up fee of $3k and $65/month retainer which includes annual K-1s (2 partnership LLCs) and personal returns for both partners. Seems almost too good to be true. Most CPAs want ~$1k/ filing so $4k in total.
Quote from @James Gamble:
Quote from @Joe Summer:
Quote from @Greg O'Brien:
@Luis Espinoza I would say you are better off finding a good asset protection/biz attorney and CPA combo. You'll prob pay more than the churn/burn services but you'll receive actual strategies and an ROI on your investment
I agree 100% !!!
It’s always funny how many people are so quick to bash something despite someone sitting here telling you first hand it’s going well for him. “Because random internet sites said so” is a terrible reason to make a decision in this day & age. You mean places like the BBB where all you do is pay $600 to have a A+ rating? lol I’d much rather prefer hearing actual first hand opinions. Which in this case seem to be positive. Just my two cents. Also Pace Morby has an entire community of thousands of people who utilize their service as well & I’ve heard nothing but good reviews. But to each their own I guess. 🤷🏼♂️
I have heard about them from Pace and he is very adamant how good they are and etc.
I just joined them and was thinking how it is going for others
Quote from @Chris Virgil-Stone:
Has anyone used Prime Corporate Services (PCS)? My partner and I set up a legal entity with them and are considering using their tax services - one time set up fee of $3k and $65/month retainer which includes annual K-1s (2 partnership LLCs) and personal returns for both partners. Seems almost too good to be true. Most CPAs want ~$1k/ filing so $4k in total.
Hey, how is Prime going for you? Do you like them and do you still use them?
Quote from @Luis Espinoza:
@Chris Virgil-Stone How was your experience with them this past year? I'm looking into possibly using them myself.
PRIME has been a big disappointment so far. I never received a call after my initial consultation to go over my 2022 tax prep. When I called and left a voicemail, they emailed me back telling me I needed to file an extension (this is march 1st). After getting all my work info submitted to them via a secure portal, I received an email saying my taxes were in the queue. Keep in mind, I have just started my LLC and so this tax filing is only for W2 work from 2022. It's now June 26th and they finally finished my taxes, saying I owed $2,560 to the feds. In disbelief I opened up Turbo tax and put in all my info within 30 min, turbo tax came back with a total of $1100 owed between state and federal. I emailed PBPros to have an accountant call me to review. They sent me to a calendly link and I waited around all day with no phone call. Very disappointed to say the least, especially after wasting over 3k just for setup and month payments.
STAY AWAY
Great feedback from everyone. I was on a call with Prime Corporate Services to ask about setting up a LLCs under a holding company. Their fees seemed reasonable to for setting up legal entities. I didn't ask about the tax services. $3000 set up and $65 monthly fee? Set up fee sounds a bit high to me.
I do my own taxes. I would most likely go with a local CPA which I'm still searching for (no recommendations from friends yet). I'm a bit apprehensive about having a remote CPA do my taxes. Is a monthly retainer fee typical for CPAs even if they don't work on anything for you? Does anyone use a tax strategist to proactively plan?
Quote from @Chris Napierala:
I wouldn't touch them with a 10 foot pole. I tried to use them this year and they outsource their tax preparation and those folks are UN_RESPONSIVE. You will get a front desk phone number which isnt monitored and if your lucky they will call you back in a few days.
Quote from @Chris Virgil-Stone:
Thanks for the responses everyone! I agree @Eamonn McElroy, this is an area where you get what you pay for. We did engage with them and they use CPA's but I know not all CPAs are created equal. We will try them out this year and I'll provide feedback. While I am not a tax expert, I work in finance and have a good understanding and will consult my personal CPA if anything looks off.
Nice. Just coming across this post. how did things work out for you. Where you able to move forward with there services.
Quote from @Rashmi Jagannath:
@Becca F. have you found a local CPA. I am in the bay area and looking to setup my LLC and trust and the whole nine yard. Our current CPA who helps us with our SCORP is not good so we want to work with someone well worse in the LLC and trust area. Please share info if you have any
Hi. I haven't found a local CPA. I'm going to try to do the taxes (2022, partially done) on my own using TurboTax or MyOnlineAccountant.com. That was recommended to me by an investor/real estate agent in Northern California. I don't have an LLC set up yet.
Great advice Greg O’ Brien
Something I experienced in my second consult told me this is a quick turn firm. They wanted to set up autopay quicker than they could review my thoughts. While I do understand it’s a business my experience was super aggressive and I just hung up on the guy.
Frank
@Vilena G.
We are moving our main LLC filings to a more real estate focused firm after some mistakes have been found. Even if the mistakes are small it begs the the question of what opportunities are missed.
If you have a small portfolio or not a lot of moving parts they PCS probably makes sense. If you're growing, you will grow out of them.
Quote from @Chris Virgil-Stone:
Has anyone used Prime Corporate Services (PCS)? My partner and I set up a legal entity with them and are considering using their tax services - one time set up fee of $3k and $65/month retainer which includes annual K-1s (2 partnership LLCs) and personal returns for both partners. Seems almost too good to be true. Most CPAs want ~$1k/ filing so $4k in total.
Hi Chris,
What company did you end up using? Would you recommend them? I am also looking for a new company to transfer from PCS. Thanks!
Best,
Gin
Quote from @Brandon Craig:
Just to add.. I set up 2 LLCs with Prime and I was happy with that process. I had my tax consultation yesterday and ended up signing up before realizing some of the potential negatives. Personally I'm a bit concerned about the outsourcing of the service because I feel like I'm rolling the dice in hopes I get a good accountant assigned to me. It may also be difficult to have other professionals communicate with them efficiently (attorney, bookkeepers, etc.) I have a 3 day period to cancel the service and take my $2,900 in another direction. Still weighing the options for now..
Late follow up. Did you ever decide to go with Tax Sentry for your taxes or did you choose a local CPA to help you?
Hi everyone. I've heard mixed reviews about Prime as well.
Could someone recommend Prime alternatives or a CPA and Tax PLANNER in Texas (I'm in Austin)?
@Sylvia Krivickova - I've heard that as well. Is anyone receiving equal or greater value compared to the entry costs?
- Nate Meeker
- [email protected]
- 951-383-4747
Quote from @James Gamble:
Quote from @Joe Summer:
Quote from @Greg O'Brien:
@Luis Espinoza I would say you are better off finding a good asset protection/biz attorney and CPA combo. You'll prob pay more than the churn/burn services but you'll receive actual strategies and an ROI on your investment
I agree 100% !!!
It’s always funny how many people are so quick to bash something despite someone sitting here telling you first hand it’s going well for him. “Because random internet sites said so” is a terrible reason to make a decision in this day & age. You mean places like the BBB where all you do is pay $600 to have a A+ rating? lol I’d much rather prefer hearing actual first hand opinions. Which in this case seem to be positive. Just my two cents. Also Pace Morby has an entire community of thousands of people who utilize their service as well & I’ve heard nothing but good reviews. But to each their own I guess. 🤷🏼♂️
Now, I think I know why they did not file my Taxes on time with thousands of people from Pace Morby, plus some more thousands, NO wonder!