Thursday, December 8, 2011

What is a fair price for an accounting service to charge in the state of Ohio?

My partner and I recently formed an LLC and met with an accountant about filing taxes/receiving quarterly reviews for our business. It is a partnership with no employees. What is a fair or average charge for these services in the State of Ohio?|||I have had a small business in Ohio for nearly 20 years. It depends on how much the accountant is going to do for you and whether or not you feel you will need to call on them to answer questions for you periodically throughout the year.





Our accountant was on a monthly retainer. They charged us $175 per month. They took care of everything for us for that charge and we could call them any time we had a question - like do we charge tax for this project?, etc.





For preparing our yearly taxes for the corporation (there were only 3 of us - all family members), they charged extra. Some years we paid upwards of $350 for them to do our year end taxes.





Good luck in your new business. After almost 20 years of ups and downs and a few more downs, I would never have had it any other way. Being in business for myself was/is the greatest gift I ever gave myself.|||Depending on the nature of your business and how complicated your books might be, there are less costly options to consider besides hiring an accountant.





We have a CPA to help us do taxes at the end of a year, and keep our own books using Quicken.





You can also hire a bookkeeper to do accounting work on monthly bases usually for $20/hr or around $200 per month.





If you decide to keep your own book or hire a bookkeeper, your tax accountant should be able to supply you with a list of "registers" (categories) s/he wants to use.





Best wishes.

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