Hi,
I started my own new business selling promotional products as a sole proprietorship. And this year is my first year doing business tax so I had an account/CPA do my business figures. I did not realize she only did a financial statement and I was charge for $450.00 for her work of a completed financial statement.
She did not help me claim other expenses need to be claimed such as Auto expenses, Mileages and Home Office, etc...
I feel I was overcharged. Please let me know what you think? Does this cost make sense ($450.00 for doing a financial statement)?
I do have knowledge of Quickbook but only basic and took 2 accounting courses in college.
Do you think I could/should do my next year financial statement myself? Any guidances how to do a financial statement using Quickbook will be GREATLY appreciated!
Thanks for reading and sharing your thoughts and help!
2007-03-27 13:09:28 · 3 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
The account did what she told me was a financial statment which came up a figure which to be a gain (income). And what I will do is to bring this figure to my other accountant who does my husband & I joint yearly tax return.
I'm not sure does this mean she (the business accountant) did my business tax?? But i don't think I should go back to her for next year service cuz somehow, I think $450 to do a financial statement sounds overpriced.
2007-03-27 13:23:28 · update #1
what financial statement is she preparing for a sole proprietorship... did she do your taxes if so then seems like a lot to charge you... you may not be able to deduct certain things you think that you can. you may be able to but they may not be in your best interest and other reasons
2007-03-27 13:19:29 · answer #1 · answered by ? 2 · 0⤊ 0⤋
What you got sounds like an income statement. This shows how a business is doing income wise.
You can take this to someone to help you figure out your taxes, but you need someone to help you learn how to do the paper work of a business. This will save you the hassle of finding someone to do everything for you. I would suggest finding a good accountant to go over everything with you and explain it.
2007-03-31 10:49:27 · answer #2 · answered by kmf77 3 · 0⤊ 0⤋
You may want to invest in some business courses at a local community college if available in your area......just a thought.
Knowledge is power and can save you a lot long-term.
2007-03-27 14:27:21 · answer #3 · answered by smiling_freds_biz_info 6 · 0⤊ 0⤋