Our billing rates are competitive. For all non-tax return engagements, we require an engagement letter to be signed by the client. Ordinarily, for non-tax return engagements, we require a retainer of at least $1,500. However, where IRS Collections is involved and where a levy is potentially possible, the retainer is ordinarily at least $2,000. Typically, we invoice monthly, and charges are applied against the retainer.
Our rates for basic individual income tax returns usually start at $300 to $400, and the fee increases with the complexity and the amount of work involved in the income tax return. Examples include but are not limited to returns involving large amounts of stock and securities transactions, more than two or three master limited partnerships, and substantial amounts of expense items pertaining to Schedule C businesses or rental properties. In addition, the fee increases for issues requiring legal research. Some of our clients avail themselves of the opportunity to reduce these additional charges for accounting work (as opposed to tax return preparation) substantially by using a bookkeeper or doing the accounting or bookkeeping work themselves.
Corporate and LLC (Partnership) income tax returns typically start at $700, except for the simplest of returns, and often exceed $800 or $1,000 depending upon complexity. We recommend that where entities are involved, clients operating businesses under these separate entities prepare a profit and loss statement, balance sheet and general ledger, whether through QuickBooks or some other accounting software package.
We accept payment by check, and by major credit cards through PayPal as well as cash.
The foregoing terms and arrangements are subject to change at any time without notice. The foregoing terms and arrangements do not create an offer or contract.