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Forum
-> Working Women
-> Work at Home Mothers
amother
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 Sun, Jan 26 2014, 12:46 pm
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I've been paying an accountant A LOT of money to do my taxes, and it seems like a pity, because I don't have many transactions and don't make that much. My business is a Corporation (was set up that way for a diff purpose originally), and I mainly provide a B2B service, but I do sometimes sell/resell a few related products. Still, I only have a few transactions a month. I am also pretty allergic to numbers, so it wouldn't be easy for me to start figuring things out on my own. Any ideas of cheaper options to file the Corporation's taxes?
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STovah
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Sun, Jan 26 2014, 1:00 pm
I try to push people to learn to prepare their own returns if it really is simple (I offer to help friends and family through the process if they just buy turbotax and do it themselves) but if you really are averse to numbers, I have no idea how you'll get the info into turbotax to do yourself.
Is it an S Corp or a C Corp? Can you form a single-member LLC and run the business through that instead and incorporate the activity into your personal tax return?
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amother
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Sun, Jan 26 2014, 2:00 pm
Thanks, STovah,
How would I know if it's an S-Corp or a C-Corp? I have the last few years' returns.
What do you think would be the going rate to have an accountant do it? I wonder if I'm overpaying...
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STovah
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Sun, Jan 26 2014, 2:28 pm
If it's an S, the return will be filed on a form called 1120-S. If it's a C, it's just an 1120.
I can't say what the going rate is since I have no idea what your business and/or return looks like. I am not in the freelancing tax prep market, but I would say for something simple, where you give the complete and final numbers to your accountant to prepare the return, going rate would be between $500-$1000.
Do you prepare your own personal return? Maybe you can negotiate a package rate if you are paying someone else to do that return.
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