tax preparation

XylemZorro

New Member
I had my taxes prepared for 2004, pretty much dropped off a box with a years worth a receipts to a self-employed bookkeeper. Well, her cost for the preparation was $600. It sounds like highway robbery to me, any suggestions? I am incorporated as well
 

Rupe

New Member
Of course your system is very different to ours so I can't say too much about what it should cost to get your stuff done, but in theory if she's done her job properly she may have saved you $600 or so in taxes that you wouldn't have been able to do if you did the paperwork yourself. Plus in the time it would take you to do it, if like me you take forever and then give up, you could probably go out and earn twice that much. I always moan about paying my bookkeepers bill but I'm glad I don't do it myself.
 

Mark Chisholm

Administrator
Sounds fair if you have a lot of paperwork, but high if you are a small (one or two person) company. Maybe you should ask her if there's something you could do to help her breeze through it next year? Making it easier for her will make it less expensive.
 

XylemZorro

New Member
I asked around and it seems that $400. is about average for my size business. No problem though, talked her down to $200. plus some tree work /forum/images/graemlins/wink.gif. At least now I know what to look for.
 

Alves

Member
What works really well, is having a dad who is an auditor/CPA, that way your taxes are done very quick, well and free.
 

Nathan

New Member
[ QUOTE ]
Sounds fair if you have a lot of paperwork, but high if you are a small (one or two person) company. Maybe you should ask her if there's something you could do to help her breeze through it next year? Making it easier for her will make it less expensive.

[/ QUOTE ]

I'll echo Mark's adivice. That is a lot, but you left her a lot of simple data work you could have easily done yourself.

Tax time was always a PITA when I was in the states. Mainly due to the fact that I didn't keep up with it as I went along.

I would add that I would rather pay $1000 for a good accountant than $200 for a mediocre one. A good accountant like a good arborist, will more than pay for themselves.

My problem back in the US was saying things that would be followed by "I will pretend I didn't hear that...."

Not sure what joy awaits me here in Germany. I am meeting with an accountant on thurs. Being self-employed, I still have to file in the states as well as here /forum/images/graemlins/furious3.gif

/forum/images/graemlins/crazy.gif
 

Tom Dunlap

Here from the beginning
Being self-employed, I still have to file in the states as well as here

Does that mean that you have to pay US/TX income tax on your earnings too?

How does that work if you pay income taxes in Germany?

I've followed the Bobby Fisher ordeal a little. He is supposed to have earned $6 million from the chess match. The US gov claims that they are prosecuting him for breaking an embargo. It seems more likely that they want their slice of taxes from the winnings. Tracing the books of BF is much easier to do than any of the big corporations that have always worked their way around embargos over the centuries.

It seems like you're in the same boat as BF but you're a much smaller minnow :)
 

davespencer

New Member
I paid a good accountant $2300.00 to do my corp taxes one year. I still pay a mediocre accountant $1300.00. I thought I would figure out how to do it myself one year so I took the report before it got mailed and whoa! Over 250 pages! and I thought I was small!

I then decided not to be one of those tree customers who wastes twice the time and is likely to screw it up anyway, just to save the money required for professional help.

Dave
 

Nathan

New Member
[ QUOTE ]


Does that mean that you have to pay US/TX income tax on your earnings too?

How does that work if you pay income taxes in Germany?

I've followed the Bobby Fisher ordeal a little. He is supposed to have earned $6 million from the chess match. ............
It seems like you're in the same boat as BF but you're a much smaller minnow :)

[/ QUOTE ]

I am pretty sure that if I file and pay here (I have a German social security #), there is reciprocity. But that still means I have to file and pay here, plus file in the US saying that I filed and payed here....

Paper work is crazy. /forum/images/graemlins/zbanghead.gif

Like Dave said, I am having an accountant do it before I spend twice as much and still make a mess of it.
 

Rich_O

Member
I have done the self prepared tax and thought I was saving(yeah right) the money is well worth it.The accountant finds twice the tax savings,both for the biz and now also my personal taxes. I'll never do them myself again.(knocks on wood: as long as my income stays where it is.) /forum/images/graemlins/bling.gif
 
Top