Tax Preparation Question?

[BigFish]

We have been dealing with a friend doing our taxes the last few years and she is very good at what she does but I am curious about what a "reasonable fee" might be for having someone prepare your taxes?? My Wife's tax stuff is pretty straight forward (easy) and mine is not exactly brain surgery??? She wants $500 to prepare our meager paperwork and file???? That seems exhorbitant to me??? Any thoughts and or recommendations for a new Taxman???

[PRBuzz]

Use software, do it yourself! Less than $50.

I've use the H&R Block for over 10 years.....

Blah, blah, blah I know you and computers don't see eye to eye!

[Slingah]

ouch.....

[Mike P]

Our accountant does ours for $225.

[BigFish]

Thats how I feel Matt! First year....$50. Following year $150. Then last year she does them and bills us for $500????? WTF!!! We are looking for someone else to handle it.

[Backbeach Jake]

500 bucks? That'll be the day. Jenn does ours, deals with 1099s two properties, 3 jobs. etc,etc. 48cents for the envelope....

[striperman36]

Originally Posted by BigFish

Thats how I feel Matt! First year....$50. Following year $150. Then last year she does them and bills us for $500????? WTF!!! We are looking for someone else to handle it.

if your income is not that difficult, estates, multiple properties, multiple businesses, that's way to much. She's going to have to drop her panties for that much.

[spence]

We have a great guy in Providence that charges around 200 bucks. Last year I had him do my step-son's who's in college and it was another 75. He caught something that I would never have and I'm not sure if an online program would have either. My wife has been with him for years though and this could have an impact on price.

If your taxes are really that easy do them yourself. 500 bills for a what's mostly a short form is insane...

-spence

[BigFish]

Spence....I would be better at doing my own taxes than I am with a computer.......and that ain't good!

[Slipknot]

Larry, if you are simply supplying all the info , w-2, 1099, and all business totals, Then I would say the wife and a self employed schedule C would run around 200 maybe 300 most.
For 500 bucks they better be saving you mucho bucks somehow and doing lots of totals and accounting. I don't know what they were doing for the 500, but I think you can do better elsewhere.

[american spirit]

i think the average person is more than capable of doing turbo tax for simple returns.

my father in law always tells me that the best chance to get ripped off is by having a "guy" who has been doing things for you for years. now that is not always true, but seems like your tax person has been getting a bit too comfortable with you recently. bag em and go online or to HR block.

[JohnnyD]

Originally Posted by BigFish

We have been dealing with a friend doing our taxes the last few years and she is very good at what she does but I am curious about what a "reasonable fee" might be for having someone prepare your taxes?? My Wife's tax stuff is pretty straight forward (easy) and mine is not exactly brain surgery??? She wants $500 to prepare our meager paperwork and file???? That seems exhorbitant to me??? Any thoughts and or recommendations for a new Taxman???

Depends. Does she handle your business stuff as well and is she good?

I'd much rather pay $500 to a good accountant than $5000 to Uncle Scam.

I'm not the best with paperwork and the extra I pay my accountant is worth the piece of mind.

[BigFish]

She only does year end. I do all my quarterlies myself.

[JohnnyD]

Originally Posted by BigFish

She only does year end. I do all my quarterlies myself.

If that's the case, then you're getting raked through the coals. If you can handle the quarterlies, then you can take care of the year-end filing.

Just don't try to claim the "Home Office" deduction. That'll fast track you to an audit.

[Squid kids Dad]

Mine charges $95// I thought that was steep..yikes

[GattaFish]

$500,,, she is no friend,,, thats way steep....

Get the software.. and take the time to learn it. Next year buy the same software... it uploads previous years info and it just plug and play from there,,,

[Raider Ronnie]

I've pain $0 for the last 25 years, or depending which way you look at it I pay a LOT.
I married a CPA.
Larry, sent you a pm

[Fishracks]

That is a lot mine charge's 165 for personal the business is more but he does my book keeping and accounting too, He is out of Plymouth i like him cause he keeps me honest won't let me try and get away with anything I'm not suppose to.

Damn him

[MakoMike]

Wait a minute. You files a schedule C, right? Do you just provide her with the numbers to fill in the blanks or does she do a complete write-up from you business checkbook? If you provide her all the numbers, you're paying too much. If you just hand her you check stubs and bank statements you are getting away cheap!

The quarterly returns (estimated tax) are just based on last years returns and if you are filing quarterly employment tax returns that no big deal either. The big question is who compiles all of the numbers (income, expenses by category, depreciation, etc.) for the entire year.

[GregW]

Im in a similar but different boat myself.
I have used h&r block. which I hate.
But this year my wife started her own little business and I think it would definately benefit us to go to an actual accountant this year and get advice for this year for this year. Im kind of lost on what exactly can be written off. SO not sure what receipts to keep.
Anyone know of a good accountant that works rather cheap that has openings?