Frequently Asked Questions
1. What is the average price of an accountant? How much do you charge?
The cost of hiring an accountant is dependent on several factors such as location and services rendered. The national average for a standard state return was $159. A federal return with itemized deductions ranged between $198 to $348. Statistics from the National Society of Accountants
My rates depend on my current case load, your unique business needs, and the average rates above.
2. How would you prepare my payroll tax? Can I do it myself?
Here are the basic steps:
- You provide your employees’ names, social security, and gross pay before tax.
- I calculate the net pay for each employee and the withheld amount for state and federal tax.
- I’ll prepare a detailed, accurate payroll report for you. Either you or I can issue the paycheck.
- I track all checks paid, the withheld amounts, and make monthly or quarterly tax deposits.
- I prepare and file your monthly or quarterly returns, e.g. (941 or C3). I also reconcile any existing tax liability.
Payroll is a system that requires consistency and good record-keeping. As a small business owner myself, I know that time is very valuable. Although it’s a simple plan, a single mistake can cost you time and money. If you want to avoid the hassle, I strongly encourage that you let a licensed professional handle it for you.
In case you haven’t found the answer for your question please feel free to contact me.