Service Fees

The basis for the Firm's fee is determined as follows:

Hourly Rates: The Firm charges time spent on the Client's behalf by the standard hourly rate of the person performing the service. All individuals (both professionals and non-professionals) working on the Client's account record their time in increments of one-tenth (1/10th) of an hour or greater. All time spent on the account is charged.

Additional Charges: This includes the Firm's standard charge for postage, photocopying, faxing, computer, mileage, and other expenses directly related to the Client's file.

The Firm does not bill based on quoted or fixed fees. Any estimate which the Firm may give is a good faith estimate based on information available at the time but does not constitute a quote or fixed fee.

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 (such as client communication, tax preparation, review, tax planning, and research). 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. Often, time is expended by accountants which is not visible to the client. We also consider 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.

For new clients we like to get the last two years of tax returns. That way we can learn about your tax situation and check for errors made on prior year returns.

Consulting Rates and Staff hourly Rates
Edward and Greg’s hourly rate is $310 per hour. Tax preparer hourly rates are between $150 and $250 per hour base on experience. Administrative hourly rate is $145 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 may 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 things 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, 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 $800. Typical fee range is $800 to $4,000 for individual tax returns. In addition to the first year tax preparation fee there will be a setup fee charged before we begin work. Setup fees typically range between $250 to $1,000.

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 $1,500. Typical fee range is $1,500 to $4,000 for partnership and corporate tax returns depending on the quality of your accounting records. In addition to the first-year tax preparation fee there will be a setup charge before we begin work. Setup fees typically range between $250 to $1,000.

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 $1,400. Typical fee range is $1,400 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 $3,000. Depending on the size, assets, liabilities of the estate. Setup fees for new clients typically ranges between $250 to $500.

Gift Tax Return Preparation - Form 709
If you need to file a Gift Tax Return, Form 709 our minimum tax preparation fee is 1,200. Typical fee range is $1,200 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.

Financial Statements
We offer financial statement preparation services. There are three levels of services that we offer.

• 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 $1,500.  Typical fee ranges between $1,500 to $5,000.

• Reviewed Financial Statements - Intended to provide lenders and other outside parties with a limited 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 $2,500. Typical fee ranges between $8,500 to $20,000.

• Audited Financial Statements –  Intended to provide lenders and other outside parties with a reasonable 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 audit statement will include a report letter from our office. Minimum fee is $15,000. Please contact our office for questions regarding service and estimated fee ranges.