How Much Does An Accountant Cost?
Whether you want to get your taxes done by a professional, or you want to have a company do your payroll, you may be considering an accountant in your area. While many accountants specialize in particular sectors, the prices are going to greatly vary depending on which state you’re in, as well as the work load and more.
How much does an accountant cost?
- On average, an accountant is going to charge anywhere from $125 to $425 an hour. Factors that influence this pricing is your work load, the accountant in general, his / her experience, location and more.
- For something simple such as a bookkeeping service, it can range from $25 to $55 depending on the size of the job, the geographical location, etc.
- Evaluating a business or having an accountant look through old financial records could significantly boost the cost of the job. Many accountants are more than happy to give a flat-fee rate for a service such as this.
- According to MetaFilter.com, an accountant in New York City charged $350 to do your typical Federal and State taxes.
- In a city such as Portland, Oregon, an accountant may charge anywhere from $225 to $275 to complete the same tax package as the professional in New York City.
- If you have a larger business with employees, directors and more, your price an range anywhere from $500 to as much as $5,000+ depending on the size, payroll, etc.
What is going to be included?
- Any good account accountant is going to consult with you for a certain period of time. On average, your meeting should last around one hour.
- They should help answer questions, prepare your taxes, as well as advise you on where you can cut costs, as well as save on taxes.
- Preparation should also be included. He/she will send off all your taxes to the state as well as the federal government
What are the extra costs?
- An accountant can’t always see the whole picture before he/she start. Be fully aware that hidden costs may pop up at the end, once your package is all said and done.
- Some may also charge you for a consultation fee over the phone, as well as email. While most don’t do this, it’s something to ask about.
Tips to know:
- Take a look at the size of the firm. Are you going to be working with one accountant or are you going to be working with a firm that hires countless accountants? Smaller firms are going to be able to give you more of a one-on-one attention.
- Ask the accountant what he/she specializes in. Each accountant will have their own experience in a certain industry. It’s wise to find one that can work with your needs.
- Ask them about their qualifications as well as look into the reputation of the firm. A quick search online can yield some rather good results. Keep in mind that some accounting services can be unqualified.
How can I save money?
- If your tax return isn’t too complicated, you may want to consider doing it yourself. Packages such as Turbo Tax and H+R Block can run you around $50 while a few hours of your time.
- The IRS allows you to file federal taxes for free if you meet certain requirements. Follow the link to see if you qualify.
- If you meet a certain income level, there are many non-profit accounting programs that will prep your taxes for free. Refer to your local city to see if there is something there for you.