John M. Hoffman
What We Charge
Our time is the only product
that we sell. Therefore we ask that clients be cognizant of how their materials
are completed and organized. We also ask that clients be reasonable with their
requests for explanations (why do I owe more taxes.....do you think it has
anything to do with the fact that I made more money?).
Current fee structure (hourly
Your fee ends up being a
blend of these different rates. We attempt to assign (time permitting) the tasks
appropriately to balance the fees involved with the complexity of the work at
Individual income tax return
- married couple, both work, children in day care, several mutual funds, own a
home, live in one state, typical fee for tax preparation - $500.
Fees go up with the
complexities of the material. Hedge funds with 50 page K-1's, overly active
stock trading, stock options, multiple state filings, are examples of things
that make the fees go up. Our largest fee for a 2014 income tax return
preparation was $5,000.
Corporation - assume an "S"
corporation with one shareholder, that shareholder fitting the individual described
above. To help tweak the QuickBooks during the year and at year-end, a little
tax planning and a few questions, the whole package to do the corporate and
individual work would typically amount to $2,000.
Consultations and special
projects are simply billed on an hourly basis.
Certain projects (multiple
past year tax filings for example) require a retainer.
Fees are expected to be paid
upon presentation of invoice.
Fees outstanding over 30 days
are subject to a finance charge calculated at an 18% annual rate.