Updated - January 6, 2023
Most business services and tax preparation fees will fit into the fees described below. Our fees are based on the number of hours we spend on your tax return, the sophistication and complexity of your return, the level of personnel working on your return and on the type of work performed (i.e. client interviews, tax preparation, review, tax planning, research, etc.).
The amount of time we may spend on any given matter is inherently unpredictable; accordingly, "estimates" of fees are only that and not a guaranty or limitation. Disorganized documentation or additional work outside the original scope of the work would also increase the time we spend on the project.
Our billings reflect both time and charges. Often, time is expended by accountants which is not visible to the client. We also give consideration to the difficulty and size of the assignment, the degree of skill required, time limitations imposed on us by others, the experience and ability of the personnel assigned, the nature of the project, the level of cooperation by the client’s staff, and the value of the services to the client.
Note - effective January 1, 2022 a engagement letter and retainer payment we need to be received before we begin any tax or accounting work.
Consulting Rates and Staff hourly Rates
Michael and Suzanne's hourly rate is $350 per hour. Senior CPA and EA hourly rate is $225 per hour. Bookkeeping hourly rate is $125 per hour.
Individual Tax Preparation - Form 1040
Our primary focus is to make sure your return is prepared to meet the compliance requirements and minimize your taxes. We will also provide any planning opportunities. Part of what makes preparing tax returns so interesting is that you don’t know what will be required on any given tax return each year, even if you have been working with a client for years. Sure, there are themes that repeat each year. But even one or two differences can affect the time required. Changes in thresholds and rules, in family size, age of children and marital status, or in employment status, income type or amount can mean differences in what goes on the same client’s return from one year to the next. Our fee, however, ultimately will be based on how much time it takes to prepare your return.
Minimum tax preparation fee is $1,000. Typical fee range is $1,000 to $4,000 for standalone individual tax returns. In additon to the first year tax preparation fee there will be a setup fee quoted before we begin work. Setup fees typically range between $250 to $1000.
The minimum fee for children return (ie dependents of parents) under age 24 is $175.
For new clients we like to get the last two years of tax returns. That way we can learn about your tax situation and also check for errors made on prior year returns.
Business Tax Preparation - Form 1065, Form 1120 and Form 1120S
Our primary focus is business consultation, deduction optimization and tax return preparation. Minimum tax preparation fee is $1,750. Typical fee range is $1,500 to $4,000 for partnership and corporate tax returns depending on the quality of your accounting records. In additon to the first year tax preparation fee there will be a setup fee quoted before we begin work. Setup fees typically range between $250 to $1000.
Single Member LLC Tax Preparation - CA Form 568
Minimum tax preparation fee is $275. Typical fee range is $275 to $1,000 for filing single member LLC tax returns. Additional time may be required to properly determine your gross receipts and confirming estimated payments made during the year.
Trust Income Tax Preparation - Form 1041
For Trust tax returns we want to minimize taxable income at the trust level. Therefore our focus each year is to get the trust income out to the trust beneficiaries. Minimum tax preparation fee is $1,250. Typical fee range is $1,000 to $4,000 for trust tax returns depending on the quality of your accounting records.
Estate Tax Return Preparation - Form 706
If you need to file an Estate Tax Return, Form 706 our minimum tax preparation fee is $2,500. Depending on the size, assets, liabilities of the estate the typical fee range is $2,500 to $6,000.
Gift Tax Return Preparation - Form 709
If you need to file a Gift Tax Return, Form 709 our minimum tax preparation fee is $600. Typical fee range is $600 to $2,000.
Tax Exempt Tax Return Preparation - Form 990
If you need to file an exempt tax return, Form 990 our minimum tax preparation fee is $1,500. Typical fee range is $1,500 to $3,000, depending on the quality of your accounting records.
Bookkeeping and Online Accounting
Outsourced Controller and small business bookkeeping service is $125 per hour. We usually estimate 1 hour per bank or credit card account. So if you have 2 bank accounts, estimate bookkeeping fees to be about $250 per month. The online accounting subscription fee is an additional $35 per month (subject to change.).
Annual Federal Form 1099 Filing
Filings for up to 5 contractors is $175. For filings between 6 and 15 contractors fee is $350. For filings over 15 contractors contact us for pricing.
Sales Tax Return Preparation
Minimum fee is $175 for one state. Additional states will incurred additional charges.
Payroll tax return preparation
Year end W2 and 4th Qtr tax filing - Minimum fee $300. Quarterly tax filing - Minimum Fee $150.
The online payroll processing subscription fee is an additional $30 per month (subject to change.).
Trust Accounting
If you are trustee or excutor of an estate, we can prepare financial statements that can be submited to the CA Court or to trust/estate beneficiaries. Minimum financial statement fee is $2,500. Typical fee range is $2,500 to $6,000, depending on the quality of your accounting records, number of accounts and complexity of the estate or trust.
Financial Statements
We offer financial statement preparation services. There are three levels of services that we offer.
1. Preparation Engagement - This report is intended for business owner's use to manage the business. This may fulfill some lenders' documentation requirements for small loans. No formal report issued on the financial statements. The fee depends on what period is covered, if the report is monthly we will prepare the bookkeeping and issue a statement. Minimum fee is $400 per month. If the statement is an annual reporting, we estimate the minimum fee to be $500 for the annual statement, this fee is in addition to any bookkeeping or cleanup work that is required by our office.
2. Compiled Financial Statements - Intended for use by lenders and other outside parties who may appreciate the business's association with a CPA without requiring a level of assurance (audit or review) on the accuracy of financial statements. Typically appropriate when initial or lower amounts of financing or credit sought or significant collateral is in place. The financial statement will include a report letter from our office. Minimum fee is $1500. Typical fee ranges between $1,500 to $5,000
3. Reviewed Financial Statements - Intended to provide lenders and other outside parties with a basic level of assurance on the accuracy of financial statements. Typically, appropriate as a business grows and is seeking larger and more complex levels of financing and credit. The financial statement will include a report letter from our office. Minimum fee is $2500. Typical fee ranges between $2,500 to $15,000.
