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tax preparation fees

Fee Info (transparency)

Posted Tuesday, May 11, 2021

WCG prides itself in being transparent and having a simple fee structure. Most business services and tax preparation fees will fit into the fees described below. Sure, there’s always the outlier or the unusual situation, but the following information gives you an idea of our philosophy. Let’s not forget basic disorganization, advanced disorganization, disguised disorganization and misrepresented organization which can all increase your tax preparation fee.

We only have time on this earth to sell, and we cannot inventory it nor is it refundable. Therefore, our published fee ranges are an attempt to coincide with expected time spent. In addition, we try to maintain historical tax preparation fees for returning clients… but that is not synonymous with fees never increasing (sorry). Our amazing staff of accounting professionals is impacted by the increased cost of living just like anyone else.

Several times our fees decrease too! Yeah, shocking. In one year you sold a rental, had stock options requiring a bunch of history building and moved between states… crazy year! The following year, no rental, no stcok options and your butt didn’t move. A bit more straightforward… less time, lower fee.

Most of our clients are primarily in California, Nevada, Colorado, Texas, the Midwest, Florida and New England, but we serve business owners in all 50 states including District of Columbia. Please click on each button below for more information.

We specialize in tax preparation for small business, LLCs, rental properties, foreign earned income exclusions, capital gains, asset dispositions, etc. Typical fee range is $600 to $800 for standalone individual tax returns.

We can create an LLC, partnership or corporation typically for $425 plus the state filing fees. Includes Articles, EIN, Operating Agreement, S Corp election (if necessary) and consultation to help you launch your venture. Discounts for multi-tiered entity structures.

Our primary focus is business consultation, deduction optimization and tax return preparation. Typical fee range is $1,000 to $1,200 for partnership and corporate tax returns depending on the quality of your accounting records.

We can have your entity taxed as an S corporation for $250. We also easily perform a late S Corp election back to Jan 1 2021 for $450. You can quickly save 8 to 10% on your net business income by reducing self-employment taxes! Yay!

Small business bookkeeping + analysis service is typically $250 to $550 per month depending on cadence. We can also add turn-key payroll services too ADP (but we do all the heavy lifting). Fractional Controller services too.

Our fee is $150 for 40 minutes. If we engage in the future we will credit the $150 towards future services. Get solid answers right away! If we don’t have the competency we will tell you that as well, and refund the consult fee. Low risk, high reward!

Tax Planning

WCG offers a lot more than just a tax return. Tax returns are boring. Most CPAs are boring and are not forward-thinkers.

The uneasiness of not knowing your tax obligations is avoidable! Got a big fat raise (booyeah!)? Just sold a rental? Your spouse is going back to work? Let’s do some tax planning and see if you should spring for the new car, or stick with the lightly used one. Tax planning is a valuable service that most tax professionals don’t readily offer… but WCG does! It is included in our Tax Patrol Services. Click the buttons below for more information. Riveting!

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Business Advisory Service Plans

WCG specializes in small businesses who generally have fewer than 100 employees. Why? We want to help people, and more importantly we want to help the business owner directly. Frankly speaking, once a business gets to a certain size management layers get in the way of owner access. Access allows us to ensure the owner(s) are leveraging the most out of their business for themselves and their families.

Because small business is a core competency for us, we have created business advisory service plans which include these really cool things-

A la Carte* Vail Telluride Aspen

2021 Tax Planning and Preparation

Tax Planning, Tax Projection Worksheets $350 to $500
Small Business Tax Deductions Optimization Included
Section 199A QBI Tax and Salary Optimization $300
Estimated Tax Payments (thru payroll or directly) inc. or $75 per
Business Entity Tax Return Prep (Form 1065, 1120, 1120S) $1,000 to $1,200
Individual Tax Return Prep (Form 1040, joint filing), One Owner $600 to $800
Expat / Foreign Income Calcs (Form 2555, FBAR, Form 8938) $300 to $500 Add-On Add-On Add-On
IRS Audit Defense NA
Situational Tax Law Research (up to 3 hours annually) $750

2021 Payroll

Reasonable Shareholder Salary Calculation (RCReports) $400
Monthly Shareholder Payroll Processing (up to 3 shareholders) $1,200
Employee Payroll Processing (up to 25 EEs, bi-weekly, direct deposit) $300 per month Add-On
Annual Payroll Processing (W-2s, other filings, up to five 1099’s) Included

Business Advisory Services

Consulting
Business Consultation, Periodic Business Reviews (PBR) $1,000 Quarterly Unlimited Unlimited
Complimentary Quick Chats (CQC) $250 to $500 Unlimited Unlimited Unlimited
Interfacing with Lenders, Attorneys, Financial Planners $500 Unlimited Unlimited
Financial Analysis
QuickBooks, Xero Consulting $500
Accounting Services (bookkeeping + analysis... see below) NA Add-On Add-On Add-On
Fractional Controller (monitoring 3rd party bookkeeping) NA Add-On Add-On Add-On
Financial Statements Analysis, Comparisons $1,200 Quarterly Quarterly
Cash Flow Management and Analysis $750 to $1,000
First Research Industry Reports, Industry-Focused Consulting $350 to $600
National and Metro Economic Reports $150
KPI Analysis, Benchmarking, Hot Sheets, Trend Analysis $750 to $1,000
Budgeting, Forecasting, Goal Setting $750 to $1,000
Strategy and Maintenance
C-Level Financial Advice and Strategic Planning (Fractional CFO) $2,000 to $3,000
Succession Planning, Ownership Changes Consultation $750 to $1,000
Annual Business Valuation $2,500 to $3,000
Annual Corporate Governance, Resolutions, Meetings $150
Annual Fee $3,420 $5,760 $8,160
Monthly Fee $285 $480 $680
(prorated based on onboarding date)

Custom! Unlike the modern day new car packages where you have to spend $8,000 for the moonroof, our Business Advisory Service plans can be customized specifically for you. The array above is simply a starting point. If you need more from us, let’s chat about it!

Tax Patrol Services

We also have Tax Patrol! This is a wonderful tax service for those who don’t need all the business advisory bells and whistles above, but from time to time want some love from an experienced tax consultant and business advisor. Have a quick tax question? Need to know the depreciation rules as you buy that new car? Wondering what your April tax bill is going to be in August? Tax Patrol is like ski patrol... you might not use it, but you sleep better knowing you have it.

A la Carte* Keystone Copper Breck
Individual Tax Return Prep (Form 1040, joint filing) $600 to $800
Business Entity Tax Return Prep (Form 1065, 1120, 1120S) $1,000 to $1,200
Tax Planning, Tax Projection Worksheets $350 to $500
Estimated Tax Payments Calcs Included
IRS Audit Defense NA
Complimentary Quick Chats (CQC) $250 to $500 Unlimited Unlimited Unlimited
Annual Fee $1,080 $1,500 $1,980
Monthly Fee $90 $125 $165
(prorated based on onboarding date)

Additional Business Services

The following are additional business services to get your venture launched and on the way. Some of these are teased out separately as one and done fees like formation and onboarding stuff.

Accounting, Payroll*

Monthly Accounting (bookkeeping + analysis) starting at $400 / month
Bi-Monthly Accounting (bookkeeping + analysis every 2 months) starting at $250 / month
QuadMonth Accounting (bookkeeping + analysis every 4 months) starting at $175 / month
Sales Tax, Personal Property Tax typically $75 / month, $150 / quarter
Employee Payroll (up to 5, bi-weekly) $50 or $160 / month
* Accounting fees are based on 2 bank account with less than 250 monthly transactions and include the QBO fee from Intuit. Custom quote is available if you have a lot going on such as third-party integrations (POS, time billing system), accrual accounting method, extensive benefits packages and / or industry specific issues (e.g, job costing in construction).

Employee payroll can be added to shareholder payroll for $50 per month if already using our Business Advisory Service plans above (e.g, Vail), or $160 for standalone. Custom quote for more than 5 employees and a referral to therapy.

Formation

Articles of Organization or Incorporation, Domestic Owners $425 + state filing fee
Articles of Organization or Incorporation, Foreign Owners $725 + state filing fee
Initial Report (if required) $125 + state filing fee
Employer Identification Number (EIN) Included
Single Member Operating Agreement (SMLLC) Included
MS Word Templated Bylaws Agreement (Corporations) Included
S Corp Election, Timely Election (made with formation) Included
Accountable Plan Included

Onboarding

Payroll Accounts Setup or Transfer $300 to $450
Accounting Setup or Transfer (Fractional Controller) $300
QuickStart QuickBooks Setup and Support (90 days) $750
S Corp Election, Timely Election (within 75 days) $250
Late S Corp Election Back to January 2021 $450
Examine Prior Tax Returns Included

Advisory Services Fine Print

A la Carte
A la Carte fee ranges are approximates. 85% of our clients fit into these fee ranges, but there are outliers. We have a handful of clients with over 30 rentals; their individual tax return is north of $2,500. We also are assuming one state; if your business spans the galaxy (keeping with our stormtrooper motif) then additional fees will be discussed with you prior to payroll setup or tax preparation. Typically each state is around $250 to $350 for tax preparation since it affects both your business and individual tax returns (frankly, state apportionment is a pain in the butt, but it is our pain… and states, especially California and New York, are crazy about it).

Prorated Fees
Some more things to consider- when a partial year remains, our usual annual fee is pro-rated to not charge you for services you didn’t use (like payroll and consultation). However, a large chunk of our annual fee is tax preparation which is typically a built-in fixed amount of $1,600 (both business entity and individual tax returns). Whether we onboard you in January, July or December, we have to prepare a full year tax return. This increases the monthly fee for the remaining months of 2021 but the monthly fee will later decrease in January of 2022 to reflect the amounts above. Yeah, we make it sound like 2021 is just around the corner.

Payroll Processing
We make very little profits on payroll processing… we offer it as a convenience to our clients. One throat to choke with a single call can be reassuring but if you want to run your payroll, go for it! Everyone thinks payroll is a piece of cake; write a check and done. Nope… we see a lot of mistakes being made by clients especially the handling of health insurance and HSA contributions since there are special rules for greater than 2% S Corp shareholders. Then again, we don’t mind fixing what was broken.

Tax Returns
You can prepare your own individual tax return as well… but the benefit WCG preparing both individual and business tax returns is that we slide things around depending on income limitations, phaseouts, alternative minimum tax (AMT), Section 199A deduction optimization, etc. Having our arms around both can yield some good tax savings!

colorado springs cpa

No BS

We are not salespeople. We are not putting lipstick on a pig, and trying to convince you to love it, even if Tom Ford’s Wild Ginger looks amazing. Our job remains being professionally detached, giving you information and letting you decide.

We see far too many crazy schemes and half-baked ideas from attorneys and wealth managers. In some cases, they are good ideas. In most cases, all the entities, layering and mixed ownership is only the illusion of precision. Just because you can complicate the crap out of your life doesn’t mean you must. Just like Chris Rock says, just because you can drive your car with your feet doesn’t make it a good idea.

Our Business Expertise

As mentioned elsewhere we primarily focus on small business owners and their unique consultation and tax preparation needs. With over 40 full-time consultation professionals including Certified Public Accountants, Enrolled Agents and Certified Financial Planners on your team, WCG consults on custom business structures, multiple entity arrangements, S corp elections (even late S corp elections back to January), tax strategies, business coaching, industry analysis, executive benefits, retirement planning including individual 401k plans, exit strategies, business valuations, income tax planning and modeling, and tax representation. business advisor

We also work with business law attorneys for business owners who have additional needs such as drafting Operating Agreements, fee for service contracts, buying or selling a business including employee stock ownership plans and partner buy-ins. In addition, WCG coordinates with third party plan administrators such as Polycomp and RPS to create age-based profit sharing plans and cash balance (defined benefit) plans. We can run point on whatever your business needs to ensure that communication is effective and efficient allowing you to sell widgets.

Here are some additional resources you might find useful.

tax preparation fees

Business Valuation

Jason Watson, CPA, CVA is trained by the American Institute of CPAs and the National Association of Certified Valuation Analysts (CVA) for Business Valuation. Jason has represented several buyers and sellers in business acquisitions, and has helped divorcing couples value a small business for divorce property settlements. When performing business consultation and business valuation services under engagement, his hourly fee is $300 with a retainer of $3,000 to $5,000 depending on the complexity of the case. Depositions and trial testimony are $350 per hour (possibly with an additional retainer).

Additional Fees

We also have a short list of additional fees that might be incurred depending on your tax and accounting situation, and your level of readiness-

Copying and returning of original tax documents $45
Significant changes or additions after a preliminary tax return is prepared- “crud, let me find re-work all my numbers.” $150 / hr
Tax representation and audit assistance; typical case is resolved in two 2-hour sessions $750 retainer,
$250 / hr
Lender or “comfort” letters $150 to $600
Business Valuations $3,000 – $5,000 retainer,
$300 / hr
Divorce Analysis, Litigation Support $250 / hr,
$350 / hr for court
Client Support, Administrative billable rate $90 / hr
Staff Accountant billable rate $150 / hr
Senior Staff Accountant billable rate $200 / hr
Tax Manager billable rate $225 / hr
Senior Tax Manager billable rate $250 / hr
Partner billable rate $300 / hr
Specialty Partner billable rate $325 / hr
Managing Partner billable rate $350 / hr
Senior Partner billable rate $375 / hr
40-minute initial business consultation (click to schedule) $150 (credited back to you)
40-minute advanced initial business consultation (click to schedule) $250 (credited back to you)

Wow! We really belabored the heck out of those hourly rates there at the end, didn’t we? All in the interest of fee transparency of a growing firm.

Also! Please keep in mind that we pride ourselves in not being the nickel and dime type of tax and accounting firm. Generally speaking, we can provide a fee range or a not to exceed ceiling on our services and fees. This is what we do… all day… every day… we have a pretty good handle on what it takes to complete a project.

Let’s Chat!

Complete the form below to schedule a time with one our amazing tax consultants and business advisors. No, we don’t hound we with robo calls and other nonsense. We will respond by email. Swipe right or left… all up to you!

    Our fee is $150 for 40 minutes (or $250 for advanced consultation with a Partner or Senior Manager). If we decide to press forward with an engagement, we will credit the consultation fee towards future services. If you don’t need convincing and already want our services such as tax return preparation, Business Advisory Services or Tax Patrol, and you simply have some housekeeping questions, we answer those at no charge. Charging a consult fee to tell you how great we are is not cool.

     

    Consultations are scheduled on weekdays during the work day. Yes, we can accommodate other days and after-hours, but those are reluctantly agreed to after some eye-rolling and complaining. Additionally, our schedules are more compressed during January through April. We will answer your questions to determine three things-

     

    • Do you need our help?
    • Can WCG and its support staff help you?
    • Can we work together as a collaborative partnership?

    From there we can determine the best plan which might be a simple "keep on keeping on"; otherwise we will construct a malleable plan together and provide a quote for those services.

     

    Shockingly we actually return all consultation requests via email or perhaps a phone call (if the moment strikes us). No black holes here!