I'm looking to have a CPA do my small business tax return. I have an S corp and I'm in Florida so it's only the Federal return. I've heard anywhere from $600 to $1500. I just don't know.
2007-02-13 09:16:57 · 6 answers · asked by rubeninfl 1 in Business & Finance ➔ Taxes ➔ United States
I have an S corp. I'm the only shareholder and the only employee. I have a home office. I have just a computer, a printer, some software and office supplies to deduct. I pay my cpa $300 a quarter and he wants $1000 just for the corporate tax returns. Is this about right?
2007-02-13 09:42:48 · update #1
depends on how complicated it is and where in the country you are located. There is no standard amount.
We have some that are around $500 but there are a couple that are about $2,000 because they are very complex and we have to do a lot to fix the books. We are in CA
2007-02-13 10:28:49 · answer #1 · answered by Dizney 5 · 0⤊ 0⤋
No, you don't need to be a cpa, but it sure helps! ;) I'm not sure if you're filing your own taxes or hiring someone else to do it, but the IRS is changing its regulations regarding who is qualified to prepare tax returns. If you're not an enrolled agent or CPA, they want those preparers to take a written exam to show that they have at least minimum qualifications to prepare tax returns. That said, TurboTax has an excellent 1120 tax prep program. I've used it before, and as a cpa, I can say it does a more than satisfactory job. But, in terms of business advice, it's hard to beat a good relationship with a cpa. A cpa can help you with more than a tax return. They can also offer advice on how to manage your taxes and even help manage your business.
2016-05-24 06:39:40 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The cost can vary greatly. It depends on the complexity of the return (do you have a lot of depreciable assets, etc.) and whether it is a "shoebox return" where you just have a bunch of receipts and it is up to the CPA to do the bookkeeping work for you in order to get an income statement and balance sheet together. The less work the CPA has to do to get your stuff into shape to be reported on a tax return, the cheaper it will be.
2007-02-13 09:22:26 · answer #3 · answered by jseah114 6 · 1⤊ 0⤋
We used to pay around $500, but it was a fairly simple S-corp return. This was in PA, to a CPA who had his own small office, not part of a large firm.
2007-02-13 09:26:58 · answer #4 · answered by Judy 7 · 0⤊ 1⤋
The cost will depend upon the complexity of the return and how much work the CPA and his or her staff do. You'll have to get quotes from local CPAs.
2007-02-13 09:24:16 · answer #5 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Our guy charges us around $500. I'm in Ohio with a small business.
2007-02-13 09:25:07 · answer #6 · answered by JS 7 · 0⤊ 0⤋