Discussion:Help me figure out what to charge
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Revision as of 05:56, 5 November 2009 FloridaTaxes (Talk | contribs) (I would urge you) Next diff → |
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| + | {{ForumReplyPost|UserID=FloridaTaxes|Date=5 November 2009|Text=I would urge you to find out just how bad their QuickBooks file looks. I had a client this year tell me they were a little behind. Turns out half of their transactions for the last 6 months were missing and most of the deposits were recorded more than once. I also had one that was in such bad shape I just had to start a new QuickBooks file from scratch. If they truly are just 2 months behind and their QuickBooks file is not a huge mess, I would charge $400-600 to catch up the QuickBooks. | ||
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| + | The quarterly and annual taxes depends on what you mean by that and how many quarterlies does he need done. If he needs 1-2 quarters of 941s, w2s, 1099s, and an 1120S, I would charge another $800-$1200 for that. It just depends on how much time everything is going to take. Whatever you decide to quote them, make sure you tell them it's only an estimate and the final invoice can be higher if the work ends up being more time consuming than anticipated. Or you might just want to quote them an hourly rate for everything with an estimate of hours required. | ||
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| + | Also, find out if you will incur any expenses. For example, QuickBooks only prints 1099s on pre-printed paper. So if he has a lot of 1099s and you need to buy the paper/envelopes, charge him more. I just ordered my 1099s and W2s for this year, and the price was higher than expected because I have a client that will need over 100 1099s.}} | ||
Revision as of 05:56, 5 November 2009
Discussion Forum Index --> Business Growth Community --> Help me figure out what to charge
| 4 November 2009 | |
| Hey guys thanks for taking a look at this thread. I found a guy who runs a little skylight installation shop. It consists of him, a part time secretary, and some 1099 guys who do some of the install work. He needs some help cleaning up his quickbooks, they are a month or two behind. He also needs help with his quarterly and end of year tax filings. He is an llc.
Can you give me a rough estimate for what you would think I should charge to do this? Me and my partner have a combined 7 years of accounting and tax experience and we are both licensed CPA's. Thanks for any responses. | |
| 5 November 2009 | |
| $1,500 if I am doing it.
First, I have found--in my limited time in the business--that a month or two behind means they haven't touched anything in three months and what they touched before that is all wrong.
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PVCC-CCIFP (talk|edits) said: | 2009-11-05 |
| Here are some questions the answers of which will help in determining the quantity of transactions which might be involved. You say he is a skylight installation shop.
1)Does that mean he makes skylights and installs them? Or that he orders skylights and installs them? Or that he merely installs, as a sub, skylights provided to him by a GS? Each would have very different level of transactions, and level of complexity. While the former might mean fewer overall jobs, it might have confusion in tracing COGS issues. The middle situation probably means at least one (the windows) and potentially more (any auxillary materials, roofing, sheet rock, lumber needed to retrofit skylights to existing construction) purchases per job from anywhere from 1 to 4 vendors, and depending on his target customer, a new customer for each job. The final situation would reduce issues related to tracing materials, and limit customers to a relatively small number of repeat customers. 2)How long does each job last? days? a day? hours? a week? 1 crew might easily be completing between 5 and 10 or even as many as 15 seperate jobs per week. Multiple crews would increase the numbers of transactions significantly, and introduce issues of different record keeping habits which complicate the process of sorting and capturing the unrecorded transactions.
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Southparkcpa (talk|edits) said: | 5 November 2009 |
| What are the "quarterlies"???? 941's? 1040 ES ?
Is he filing a schedule C, 1120S etc.... | |
FloridaTaxes (talk|edits) said: | 5 November 2009 |
| I would urge you to find out just how bad their QuickBooks file looks. I had a client this year tell me they were a little behind. Turns out half of their transactions for the last 6 months were missing and most of the deposits were recorded more than once. I also had one that was in such bad shape I just had to start a new QuickBooks file from scratch. If they truly are just 2 months behind and their QuickBooks file is not a huge mess, I would charge $400-600 to catch up the QuickBooks.
The quarterly and annual taxes depends on what you mean by that and how many quarterlies does he need done. If he needs 1-2 quarters of 941s, w2s, 1099s, and an 1120S, I would charge another $800-$1200 for that. It just depends on how much time everything is going to take. Whatever you decide to quote them, make sure you tell them it's only an estimate and the final invoice can be higher if the work ends up being more time consuming than anticipated. Or you might just want to quote them an hourly rate for everything with an estimate of hours required. Also, find out if you will incur any expenses. For example, QuickBooks only prints 1099s on pre-printed paper. So if he has a lot of 1099s and you need to buy the paper/envelopes, charge him more. I just ordered my 1099s and W2s for this year, and the price was higher than expected because I have a client that will need over 100 1099s. | |
