Watson CPA Group Fee Structure
By Jason Watson (Google+)
Posted May 5, 2019
The Watson CPA Group prides itself in being transparent and having a simple fee structure. Most business services and tax returns 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. We only have time on this earth to sell, and we cannot inventory it. Our fees are an attempt to coincide with expected time spent.
Personal Tax Prep
We competitively offer a simple fee range of $500 to $700 for most personal tax returns. Small biz, rentals and state included.
Small Biz, LLCs, Rentals Tax Prep
Small businesses are commonly reported on your personal tax return on Schedule C. Rental activities are reported on Schedule E. Typical fee range is $500 to $700.
Partnerships, Corps Tax Prep
Fee range is $800 to $1,100 for partnership and corporate tax returns.
Business Formation
We can create a business or corporation for $425 plus the state filing fees. Includes Articles, EIN, Operating Agreement and S Corp election.
S Corp Election
We can convert your existing entity into an S Corp for $375. Even if you are late. Save on self-employment taxes and implement advantageous executive benefits!
S Corp Costs
People want to know costs, and while this might seem like more shameless self-promotion, you still need to understand what you are getting into. The Watson CPA Group specializes in S corporations which have a small number of shareholders, and often just a one-person show.
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Aspen |
Vail |
Breck |
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S Corp Reasonable Salary Calculation |
Yes |
Yes |
Yes |
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Section 199A QBI Optimization |
Yes |
Yes |
Yes |
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S Corp Payroll Filings and Deposits |
Yes |
Yes |
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Annual Payroll Processing (W-2s, up to five 1099’s) |
Yes |
Yes |
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S Corporation Tax Prep (Form 1120S) |
Yes |
Yes |
Yes |
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Individual Tax Prep (Form 1040), One Owner |
Yes |
Yes |
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Estimated Tax Payments |
Yes |
Yes |
Yes |
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Current Year Tax Planning, Mock Tax Returns |
Yes |
Yes |
Yes |
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Unlimited Consultation, PBRs |
Yes |
Yes |
Yes |
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First Research Industry Reports |
Yes |
Yes |
Yes |
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Small Business Tax Deductions Optimization |
Yes |
Yes |
Yes |
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IRS Audit Defense |
Yes |
Yes |
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Annual Fee |
$2,940 |
$2,700 |
$2,640 |
|
Monthly Fee |
$245 |
$225 |
$220 |
Couple of things to keep in mind- 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! And… the benefit of the Watson CPA Group preparing both tax returns is that we slide things around depending on income limitations, phaseouts, alternative minimum tax (AMT), etc. Having our arms around both can yield some good tax savings!
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 in a previous quarter). However, a large chunk of our annual fee is tax preparation which is typically a fixed amount of $1,300 (both corporate and personal). 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 but the monthly fee will later decrease in January of the following year to reflect the amounts above.
Break-even analysis is based on our annual fee of $2,940. If an S corporation saves you 8% to 10% (on average) in taxes over the garden variety LLC, then $2,940 divided by 9% equals $32,667 of net business income after expenses.
You can always find someone to do it for less- we know that. At the same time, we have a vested interest in your success and provide sound tax and business consultation as a part of our service. Here are links to our Periodic Business Review agenda and End of Year Tax Planning that we cover throughout the year so our consultation to you is comprehensive-
www.wcgurl.com/PBR (Periodic Business Review Agenda)
www.wcgurl.com/EOY (End of Year Tax Planning)
These general fees will cover most situations. However, depending on the number of transactions, accounts and employees, these fees might have to be adjusted to reflect additional complexities. The Watson CPA Group is not out to gouge anyone or do a quick money grab- we want to build relationships by doing things right for a reasonable fee. Check out our fee structure here-
No more shameless promotion… the book is almost over. Hang in there!
Taxpayer’s Comprehensive Guide to LLCs and S Corps : 2019 Edition
This KB article is an excerpt from our book which is available in paperback from Amazon, as an eBook for Kindle and as a PDF from ClickBank. We used to publish with iTunes and Nook, but keeping up with two different formats was brutal. You can cruise through these KB articles, click on the fancy buttons below or visit our webpage which provides more information at-
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