CPA Tax Prep Sanity Check?

  • Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!



    Go here and give us your nominations!
    Who's been the biggest Asshat in the last year? Give us your worst ones!
whoo

whoo

<Silver Donator>
1,573
6,587
Is anyone here a CPA that would be willing to give me a sanity check on tax prep fees? I feel like I'm overpaying, and my accounting company is being retarded.

  • 2 retired people (no SSec yet) - no w2 income
  • 1 very small LLC (im the only employee and the business shows <15k yr income) - no payroll.
  • Some significant investments, but it's mostly in IRAs, ROTH, one SEP
  • We do have an after tax brokerage accout that generates about 60k in income. We're living off of that plus the cash we have saved.
Currently, I'm using my wealth management company's tax department, and they are charging me $3000. I'm not requiring or getting any tax consulting or specialized services from them. I do all my own bookkeeping and provide P&L, balance sheet, and the dozen or so inventory items I track for business property tax. 3 years ago they were charging 1800 for the same services.

Anyone who does tax prep care to opine on this and tell me if I'm being overcharged?
 
Captain Suave

Captain Suave

Caesar si viveret, ad remum dareris.
5,494
9,397
whoo said:
I feel like I'm overpaying, and my accounting company is being retarded.
Click to expand...

My taxes are more complicated than that (w-2 and 1099 earned income, investments, both I and wife have self-employment, home offices, active multi-partner LLC, etc.) and I do them myself for $30 in software and less than a day's work. If you do all the bookkeeping you're 90% of the way there anyway, just add ~3 hours in your tax prep software of choice. $3k is absurd.
 
fred sanford

fred sanford

<Gold Donor>
1,762
5,180
Most of the time I do it myself with turbo tax but a couple of years (2019-2020) I hired a local CPA to do my taxes due to complexity with an inheritance, they charged $500
 
whoo

whoo

<Silver Donator>
1,573
6,587
fred sanford said:
Most of the time I do it myself with turbo tax but a couple of years (2019-2020) I hired a local CPA to do my taxes due to complexity with an inheritance, they charged $500
Click to expand...
Pre covid I was paying like $700. It's rediculous what they want to charge me.
 
Burren

Burren

Ahn'Qiraj Raider
4,499
6,085
whoo said:
Is anyone here a CPA that would be willing to give me a sanity check on tax prep fees? I feel like I'm overpaying, and my accounting company is being retarded.

  • 2 retired people (no SSec yet) - no w2 income
  • 1 very small LLC (im the only employee and the business shows <15k yr income) - no payroll.
  • Some significant investments, but it's mostly in IRAs, ROTH, one SEP
  • We do have an after tax brokerage accout that generates about 60k in income. We're living off of that plus the cash we have saved.
Currently, I'm using my wealth management company's tax department, and they are charging me $3000. I'm not requiring or getting any tax consulting or specialized services from them. I do all my own bookkeeping and provide P&L, balance sheet, and the dozen or so inventory items I track for business property tax. 3 years ago they were charging 1800 for the same services.

Anyone who does tax prep care to opine on this and tell me if I'm being overcharged?
Click to expand...
My shit is way more complicated than yours and I’m paying $800 for white glove service at a great firm. You’re being fucked my friend.
 
  • 1Like
Reactions: 1 user
You must log in or register to reply here.