CPA Rates for Small Business

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by a searcher from University of Houston, Downtown
in Houston, TX, USA

2yrs ago

CPA Rates for Small Business

Hi All,

Looking for a CPA for my small business. Please share your opinion on the rates as I have no point of reference. I appreciate your help searchers and business owners.

My business turns around $3 million in gross sales annually with 250 transactions per month or so.

Bank Transaction Fee: $3.75 per transaction. Payroll Transaction Fee: $4.75 per transaction. Compiled Financial Statements: Minimum of $300 billed regardless of frequency (monthly, quarterly, or annually). Petty Cash Receipt Transactions or Non-standard Transactions: $85 per hour. Federal Tax Return: $1200. Standard Rate for other services: $150 per hour.

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reply by a professional 2yrs ago
from University of Houston in Houston, Texas 77002, États-Unis

What would be helpful is for you to define what you're trying to accomplish.

Bookkeeping vs accounting vs taxes are different needs. You'll want to look for different things. A CPA doesn't mean you're covered in all areas of finance. As a business owner, you really want to have a trusted advisor to help you navigate the complexity of running a business.

With that being said, if you're just trying to book numbers and you have a good understanding of accounting, go with a bookkeeper. If you have little accounting knowledge and you really need to dig in and understand your business, find an accountant that is more familiar with management reporting. This could be a one off project and have the bookkeeper continue on with it or it could be an ongoing relationship.

Tax return depends on the structure and complexity of the business. What are you doing for state and local taxes? I advise against having the same person doing your taxes and maintaining your books. The goals are different. Tax is focused on compliance and minimising tax liability whereas maintaining your books should be focused on business performance and maximizing profitability.

Payroll taxes can be handled by your payroll system provider depending on who you are using. What is the reasoning for outsourcing payroll to an external CPA?

Why do you need a compilation? What system are using? What are you comfortable handling in house? Who's handling AR and AP?

Looking further into the future, will you have a basis for planning? How about oversight?

These are all details that can make a difference in pricing. Happy to chat with you in further detail to sort through your needs.

I want small businesses to succeed. You have to make sure you have the correct resources around you. redacted

reply by a searcher 2yrs ago
from University of Denver in Boston, MA, USA

For a $3M revenue business you could spend anywhere from $4k/year to $60k/year. Bare bones would be DIY bookkeeping and once a year tax prep, or you could have outsourced bookkeeping, bill pay, invoicing, fractional CFO, and tax planning throughout the year. So it depends what you want.

Our firm does quality accounting and tax. We'd likely. be $redacted/mo for bookkeeping, business taxes and personal taxes in a fixed monthly fee. Happy to chat. redacted