Best Tax Software

We Take The Guess Work Out of Tax Time!

Archive for the ‘Business Tax Software’ Category

Business Tax Return Preparation

September 2nd, 2010

admin

Business Tax Return Preparation

Did I pay to much for my S-Corp tax return?.

I paid about $2500 for my small businesses taxes. There were about 25 depreciated items. We had about 160K net sales. I'm not sure where all the time went?

The statement of work my accountant gave me said generic services like "Year End Accounting", "Tax Return Review", "Tax Return Preparation". The rates are 80/hour and 150/hour. 1.2 hours at 150 and about 29 hours at 80/hour.

Any ideas?

That does sound a little too high. However, it all depends in what shape your books were in. Do you do your bookkeeping on a monthly basis? If you don't keep your books in good shape and you just drop a pile of bank statements and receipts off to your tax preparer, and they really had to spend 30 hours going through it, then it is what it is. I'd recommend keeping your books in shape and getting someone to do it on a monthly basis. That way, at the end of the year you can hand it off to your tax preparer and they wouldn't have to do that much work - for a return like yours I charge about $600 if the client has everything in order. Plus, if you do your books on a monthly basis you can actually see what's going on in your business and know if you are making money every month as opposed to waiting until the end of the year to see how your business is really doing. It gives you the opportunity to make changes as you go, and make your business better.

I hope that helps.

No items matching your keywords were found.

	Classic Internal Revenue Service Business Tax Preparation Film DVD: 1970s Small Business Finance & Accounting Tax Preparation & Advice Film List Price: $19.99 Sale Price: $12.99
	No one likes to pay taxes - whether you're an individual or a business. The complexity, anxiety and frustration of the bureaucratic process affect us all. There's the fear of filing wrong and being penalized, the fear of a thorough, unexpected audit, and the disappointment of forking over a large chunk of hard-earned money to Uncle Sam...

	Revised Form 990: A Line-by-Line Preparation Guide List Price: $60.00 Sale Price: $32.61 Used From: $32.67
	A line-by-line preparation guide to the completely new and revised Form 990 for nonprofit organizations The accurate and complete preparation of Form 990-the information return that must be filed annually by most types of tax-exempt organizations-is a key factor in maintaining public image and fundraising capabilities...

	Bookkeeping & Tax Preparation: Start & Build a Prosperous Bookkeeping, Tax, & Financial Services Business List Price: $18.95 Sale Price: $59.37 Used From: $2.85 Average Rating:
	All the techniques and information for turning a flair for figures into a highly profitable, well-rounded financial services career. The book considers the advantages and disadvantages of self-employment, looks closely at entrepreneurship, reviews the nuts and bolts and costs of start up, presents the legal requirements, and tells how to acquire adequate computer equipment to do the job right...

	Taxes - A Guide To Taxes List Price: $1.89
	The following articles are a compiled report about the different elements of the US tax system, and the many facets of deductions, credits, qualifying dependents, the corporate entities, the sole proprietorships, andthe everyday average citizen...

	H&R Block TaxCut 2008 Premium Federal + State + e-file [OLD VERSION] List Price: $49.99 Sale Price: $2.02 Used From: $8.00 Average Rating:
	Conveniently prepare both your federal and state returns. Federal program and 1 state tax preparation program, plus up to 5 federal e-files--all in 1 place, at 1 price. Worry-free Audit Support included when you e-file...

	TurboTax Deluxe Federal + eFile 2008 [OLD VERSION] List Price: $49.95 Sale Price: $4.69 Used From: $1.75 Average Rating:
	TurboTax Deluxe helps find and maximize deductions. The software includes all the features in TurboTax Basic and guides customers step-by-step through mortgage interest, charitable contributions, education expenses, medical expenses and more...

	H&R Block TaxCut 2008 Premium Federal + e-file [OLD VERSION] List Price: $34.99 Sale Price: $0.95 Used From: $5.95 Average Rating:
	Prepare your own federal return quickly and easily. Easy, low-cost tax preparation program with built-in help to save you more money. Worry-free Audit Support included when you pay to e-file. A simple interview quickly walks you through the return process to automate your return...