pikester1967 Posted May 9, 2014 Report Share Posted May 9, 2014 New Client, well established business approached me for help. 12 & 13 Partnership Return's, appears sales tax needs filed for 13 to present. Take over monthly accounting as well. Appears previous bookkeeper wasn't doing her job. Suggestions on fee's etc., Typically I start Partnerships at $360 and up. Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted May 9, 2014 Report Share Posted May 9, 2014 Appears previous bookkeeper wasn't doing her job. Don't always believe that, you'll soon figure the truth yourself. 4 Quote Link to comment Share on other sites More sharing options...
RitaB Posted May 9, 2014 Report Share Posted May 9, 2014 New Client, well established business approached me for help. 12 & 13 Partnership Return's, appears sales tax needs filed for 13 to present. Take over monthly accounting as well. Appears previous bookkeeper wasn't doing her job. Suggestions on fee's etc., Typically I start Partnerships at $360 and up.$360 for the return, if you've done all the monthly accounting so it's not a train wreck, sounds reasonable. I agree with MAS's observation that the previous accountant may not be the problem. If a business hasn't filed sales tax returns for 15 months the owners aren't without blame. In TN, they would have received a LOT of notices and assessments. Oh, and they might notice that sales tax payments weren't deducted from their bank account. Who lets that go on for 15 months?? I'm not saying you don't want them. I'm not saying get a retainer. I'm saying give them the benefit of the doubt, but if it starts to feel like a flat tire, it may be because it's a flat tire. Best wishes - I hope it's a great job for you. 1 Quote Link to comment Share on other sites More sharing options...
pikester1967 Posted May 9, 2014 Author Report Share Posted May 9, 2014 Thanks for the input. I totally agree regarding the sales tax. I always collect the accounting fees upfront when collecting the work from the client. Getting through the initial start-up should be fun. Just had to add my favorite icon. lol 2 Quote Link to comment Share on other sites More sharing options...
RitaB Posted May 10, 2014 Report Share Posted May 10, 2014 (My favorite icon.) 3 Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted May 10, 2014 Report Share Posted May 10, 2014 Thanks for the input. I totally agree regarding the sales tax. I always collect the accounting fees upfront when collecting the work from the client. Getting through the initial start-up should be fun. Just had to add my favorite icon. lol Be sure to get all the notices and letters he has received from the State of Ohio concerning Sales Tax. He has received several, if he is 15 months behind. Do lots of research BEFORE you say yes. Too many gaps in the story for me... 1 Quote Link to comment Share on other sites More sharing options...
joanmcq Posted May 10, 2014 Report Share Posted May 10, 2014 Take a look at the books & records before you make a decision or a quote. It might not be as bad as you think, or much worse. 4 Quote Link to comment Share on other sites More sharing options...
SaraEA Posted May 10, 2014 Report Share Posted May 10, 2014 $360 for a partnership return? Are you trying to lose money? I don't know how many partners there are, but just producing the K-1 packages, calculating individual basis, loan differentials, etc. is worth more than that. KNOWING how to do those things is worth more than that. Even if their records are perfect, there's still a lot of work to do to complete the 1065. And how about the individual returns? I'd start at $800 if records are good and there are only 2 partners (all in the same state). This would not include individual returns. Accounting fees should be monthly and would depend on what kind of business it is--daily sales or occasional sales, weekly or more frequent deposits, employees or none, long or short bank statements. As others have suggested, don't trust that line about the former accountant not doing his/her job. Who could collect sales taxes and not notice they weren't turned over to the state for all that time (and not notice all the nasty letters)? Did the former accountant quit because of nonpayment? It's a real possibility, especially for someone who hasn't paid sales tax for so long. There are a lot of people who flit from accountant to accountant, moving on when their current person refuses to work for free any longer. Don't be that person. On the other hand, these potential clients might just want to get back in compliance and will be wonderful clients forevermore. Hopefully that is the case. But don't give your work and knowledge away. What would YOU be willing to pay for the services they need, knowing the amount of work that will be required? 5 Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted May 11, 2014 Report Share Posted May 11, 2014 And consider a one-time "set-up fee" as well as your normal bookkeeping rate, to be fair to you. 2 Quote Link to comment Share on other sites More sharing options...
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