Average price for filing business return

amother

Ivory

Mon, Jan 28 2019, 8:23 pm

This is the first year we're going to be filing our LLC (multi member) and I've been asking around from some accountants in my area (NY) for a price. Ive gotten some quotes at which I'm really surprised at. One quoted me 1600.00, and another quoted 1200.00. I did have one tell me 500.00, however I do not like that firm after doing my research.
If any of you know, are these prices in range? I feel like I thought it would be more like 800.00 tops. Please note these prices are just for the llc return and does not include my personal return.

lovetobemommy

Mon, Jan 28 2019, 8:28 pm

It depends on the size and nature of your business, the number of members in the LLC etc. my husband is a CPA and he has business clients from 450$ to 1500$

amother

Bronze

Mon, Jan 28 2019, 8:31 pm

1065 Federal, IT-204 New York, NYC-204.... Be happy your were offered $1600 for year 1 returns.

(maybe not NYC, I thought I saw you were in NYC).

amother

Ivory

Mon, Jan 28 2019, 8:33 pm

lovetobemommy wrote:

It depends on the size and nature of your business, the number of members in the LLC etc. my husband is a CPA and he has business clients from 450$ to 1500$

It's two members and it's very straightforward. I have 1099's for all sources of income and I have a list of all expenses classifies by category (not a lot of expenses in our business - its all on one small paper).

lovetobemommy

Mon, Jan 28 2019, 8:44 pm

Sounds quite simple and should be on the lower price range, my husband provides free initial consultation so you can PM me if you would like.

amother

Bronze

Mon, Jan 28 2019, 8:45 pm

amother wrote:

So you also need someone to create the trial balance / financial statements.

Your quotes are really good. $500 was too low.

amother

Ivory

Mon, Jan 28 2019, 8:50 pm

amother wrote:

So you also need someone to create the trial balance / financial statements.

Your quotes are really good. $500 was too low.

I guess I'm still clueless because I never did this yet. Do I need to create a trial balance / financial statement in order to file or is that just for our records?

amother

Bronze

Mon, Jan 28 2019, 8:55 pm

amother wrote:

I guess I'm still clueless because I never did this yet. Do I need to create a trial balance / financial statement in order to file or is that just for our records?

If the business is small enough - it doesn't need a balance sheet for the 1065 return. It does need an income statement. Its copied into the return, not attached to it.

If you give the accountant the revenue and expenses for the year (all summarized) - that should be enough. (and contributions and distributions to/from the LLC).

lovetobemommy

Mon, Jan 28 2019, 8:55 pm

That's the accountant's job it's part of the filing, but you have all the documents and sounds like not many transactions, I will ask my husband how much it should be.

amother

Ivory

Mon, Jan 28 2019, 8:57 pm

lovetobemommy wrote:

That's the accountant's job it's part of the filing, but you have all the documents and sounds like not many transactions, I will ask my husband how much it should be.

Thanks - and to clarify, he's in NY?

lovetobemommy

Mon, Jan 28 2019, 9:52 pm

My husband says it should be between 650 and 800 depends on how efficient your records and lists are

amother

Aquamarine

Tue, Jan 29 2019, 1:41 pm

You can cut costs using an israel based firm - theyre all US educated and prepare many LLC returns (including many NY). Alan Deutch, Phil Stein, Mas America, Josh Ashman, Pesach Woznika, Yosefa Huber, Avigayil Rosenthal etc (I am none of these) Most have websites. Nowadays there is no need to meet the accountant in person for a small return like youre describing.