I may need a new “tax guy.” I own a small business (LLC) and recently received a big salary increase (yes it does happen even in this economy.) I employed a CPA prior to last year’s taxes. It just seemed he was plugging the info into the same software I was plugging it into. What are your rates for doing taxes per annum?

Prices?  Don’t have enough information.  I have a lot of clients we do for around $100 and some that pay $5,000 or more.  So it is pretty hard to even guess.  Also the bigger question I would like to think is can I do anything for you?   If all you get from me is what you can do on Turbo Tax, doesn’t really matter what I charge.  I think you get a lot more for example if the IRS sends you a letter saying you didn’t report something, we answer the letters free. 

With your LLC, most LLC’s are disregarded entities.  That means you don’t file a separate return for the LLC.  If this is the case and you have a loss on the business with your situation you are walking around with a big sign on your back saying, “IRS PLEASE AUDIT ME”.  There is a big push now for auditing returns in this situation because the IRS is thinking that the business could be a sham for avoiding taxes on your wages.  There are pitfalls if you are making a profit too.  Hopefully that is the case. 

For new clients I offer a free review and free consultation.  If you show me your return I will let you know what you can do to make it look better and also let you know our price for your returns.  You can fax, email or mail your returns for me to review.  Just let us know your pleasure. 

This blog is a collection of questions from clients and the answers.  The goal of the blog is not to answer the questions you might have.  Most times the answers are based on each client’s personal situation.  Please do not rely on thisinformation to make important financial and tax decisions.  The advice presented here is presented to give examples of the type ofinformation you get as a client of a true tax professional, like Ray Simmons and the preparers he employs.  Advice regarding similar issues for you should be based on your personal situation. 

Treasury Department Circular 230 Notice. “To ensure compliance with Treasury Department Circular 230, prospective clients are hereby notified that: any discussion of Federal Tax Issues contained or referenced to in this communication is not intended or written to be used and cannot be used by the prospective client or investor for the purpose of avoiding penalties that may be imposed on them under the Code.” Such discussion is written in connection with the promotion or marketing by Ray Simmons Corporation of the transactions or matters addressed in this correspondence


About taxdude8422

Basically I am just a tax nerd, have been all my life. However I have found the more open you are to opportunities the better off you will be in this world. That makes my what is know as an open networker on Linkedin, I will connect with anyone. I am not an expert on Linkedin by any means but one day when I was asking someone to connect I mentioned that I had just been refilled on invites. My new connect asked how I did that. I used that same line for the next month and got asked the same question four times. I started thinking there was a lot of little things it took my sometime to learn. Through this blog I plan to share some of those "Linked Secrets"
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