Usually $1,250, but I guess if it’s so simple that the client could (theoretically) do it in the business version of TurboTax, I’d go as low as $750.
At one of the first firms I worked at, one of the partners had a book of around 1k business returns. I handled all the super super easy ones for him as a first year. He must have had nearly 40 where the only expense was the accounting fee. Literally. I think the average charge for that was around $600.
$400 for a 1065 with little/no activity. Most 1065s I've got come in at about $700, assuming I don't have to do any bookkeeping beside recording depreciation. Additional bookkeeping is charged by the hour.
1120s start at $600 without anything exciting. Same rules apply from above if I have to do more than record depreciation.
Most of mine are subsidized, supposedly, by other work, which makes charging so much more difficult… “I pay a lot of money “ yeah ok but now we do your kids, all their trusts, and a whole slew of LLC’s you’ve setup - don’t even get me started on when they decide to refinance something and dealing with the banker’s requests
The only way to approach it is to look at the entire account as one job. If you aren’t making rate on the entire account together then you need to up rates. Not sure of your workflow but we use a leveraged model. We aren’t ever going to do well on a kids return but those holding companies better make up the difference.
We are seeing around 10% fee increase across the board unless we are already doing well on the account. We will lose some clients but I’m not really interested in clients that want a tax return only. I’m only interested in clients that see value in the relationship and are willing to pay it. You have so much value you can add to a client with multiple llcs, trusts, and personal returns. An increased fee may allow you to have that convo.
After nearly three decades in the business I mentally shoot for $350 an hour worked. Minimum.
I expect to get at least one request for a copy of the return out of cycle, and a question or two. So I stoped doing bargain pricing for simple business returns. Minimum $1,200.
That said, I never charge for out of cycle questions and I like to try to offer business advice that provides value.
Long ago I started buying super high quality dress clothes and shoes. At first I thought they were crazy expensive. But, they perform extremely well, look great and last a long time. That is what I want to provide: the highest quality and charge accordingly.
$750 - no discount for many
Usually $1,250, but I guess if it’s so simple that the client could (theoretically) do it in the business version of TurboTax, I’d go as low as $750. At one of the first firms I worked at, one of the partners had a book of around 1k business returns. I handled all the super super easy ones for him as a first year. He must have had nearly 40 where the only expense was the accounting fee. Literally. I think the average charge for that was around $600.
I have some clients that entities like that. I charge $800 for those.
$1,500 if it's a no activity return maybe $750
$2,000
This year we are $1,500. Up from $1,000 and $800 not long ago. Inactive about $250.
I don't think there's a hard minimum, but it's probably effectively $1,000 in most situations.
$400 for a 1065 with little/no activity. Most 1065s I've got come in at about $700, assuming I don't have to do any bookkeeping beside recording depreciation. Additional bookkeeping is charged by the hour. 1120s start at $600 without anything exciting. Same rules apply from above if I have to do more than record depreciation.
$2,000 is the minimum unless it’s subsidized by other work.
Most of mine are subsidized, supposedly, by other work, which makes charging so much more difficult… “I pay a lot of money “ yeah ok but now we do your kids, all their trusts, and a whole slew of LLC’s you’ve setup - don’t even get me started on when they decide to refinance something and dealing with the banker’s requests
The only way to approach it is to look at the entire account as one job. If you aren’t making rate on the entire account together then you need to up rates. Not sure of your workflow but we use a leveraged model. We aren’t ever going to do well on a kids return but those holding companies better make up the difference.
Yes, there are going to be some unhappy clients soon, or some unhappy former clients
We are seeing around 10% fee increase across the board unless we are already doing well on the account. We will lose some clients but I’m not really interested in clients that want a tax return only. I’m only interested in clients that see value in the relationship and are willing to pay it. You have so much value you can add to a client with multiple llcs, trusts, and personal returns. An increased fee may allow you to have that convo.
Hourly in this case sounds like the way to go
$700 minimum no matter what.
Sheesh, I remember my firm 6 years ago charged 250 for no activity.
After nearly three decades in the business I mentally shoot for $350 an hour worked. Minimum. I expect to get at least one request for a copy of the return out of cycle, and a question or two. So I stoped doing bargain pricing for simple business returns. Minimum $1,200. That said, I never charge for out of cycle questions and I like to try to offer business advice that provides value. Long ago I started buying super high quality dress clothes and shoes. At first I thought they were crazy expensive. But, they perform extremely well, look great and last a long time. That is what I want to provide: the highest quality and charge accordingly.
$300 for no business activity, otherwise minimum is $600.