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Tax Advisor / Business Advisor..

Strategy

New Contributor
How much should it generally cost someone to handle all the taxes and make sure all legalities are covered with the business correctly and on time. It would be a mainly focused internet based business with only one employee/shareholder, s corp.
The work would be very minimal almost part time pay type of business for now...
 

Corrado79

New Contributor
Ideally, you are going to need to have two different people to handle the taxes and the "legalities." For taxes, you simply need to find a recommended CPA in your area that has experience with start-up companies. The same goes for the attorney. Typically, smaller firms or solo-practioners might be good choice at your stage in the game. You would just be hiring them on an hourly basis, so no worry about part-time.
 

BLSH

New Contributor
Good question rep+, this is the next step for me too. Typically, how much $ does a CPA and an Attorney charge?

Any person that can answer this question I would appreciate it. Maybe even a referral to someone in OH or knows about OH laws & regulations.

Thanks in advance.
 

royemunson

Contributor
Read Millionaire Fastlane
FASTLANE INSIDER
I used to work for a CPA firm in Ohio. The costs are going to vary across the board whether it's an attny or an accountant.

Don't always go with the cheapest, but do go with one that fits and knows what you're doing. Go with someone who has clients similar to you and what you're doing.

Just in our case we used to charge about $50 an hour for business acctng and $100 an hour for taxes. We were on the cheaper end as that was our niche - the small biz start up and help them build up to a couple million a year.

It will come down to simple interviews. Some of the firms down the road from us wouldn't do a tax return for less than $1K and their business clients paid thousands a year.

If you're small and perhaps using a software like quickbooks or something similar you can typically look to spend around $2K plus a year on all yoru biz and personal accounting - this is a huge estimate since I don't know enough.

As for an attney I''m not sure. They vary so much and we used one guy that charged about $300 per hour.

In many cases you do get what you pay for, however the cheaper doesn't mean they don't knwo what they're doing. Just make sure you interview and fit in line with your business and personal needs.

Cost is only one aspect of finding a good advisor.


Joe
 

Strategy

New Contributor
2k seems extreme for my business...

it will be few transactions for large amounts throughout the year, an S-corp non resident ga owner i'm told you have to fill out 600 and 600-sca to give agreement for nonresident shareholder to submit witholding. (can someone explain this a little more to me about witholding if you have time)


but basically, very little work, alot of expenses and few transactions, for now


what kind of attorney would you try to contact on business matters, could you just pay them for like one or two hours and him teach you how to get your business setup right..

Once I know everything I'm supposed to do and deadlines and info on how to do it I will have it down, its just understanding and knowing all the rules and regulations... I would gladly pay someone money for that to get me on the exact track i needa be on...

also keep in note i said its an S-corp and I would be the sole owner/shareholder. so like i said very little work.
 
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