An incredible phenomenon is underway, one that many tax pros have been begging their compadres to get on board with for years: CPAs are increasing their fees. In some cases so high that clients are pushing back, going their own way (rather, threatening to…they’ll be back), or shopping around for someone new. Surely they won’t have any problem finding someone who will do it cheaper!
This guy graduated #1 in accounting so he should have no problems DIYing.
Client graduated # 1 in accounting and so doesn’t need us to do his simple tax returns anymore. Rental property, $1mil+ in stock transactions. I was charging $1800 (not $3000 – so much for the accounting). 🤣🤣🤣 I hate losing cleats but buh-bye. pic.twitter.com/UWbrbVpn1Z
— Andrea MacDonald, CPA ⭐️ (@andreamacdcpa) January 17, 2024
This guy generated quite the buzz:
My CPA just increased her service fee again by 30%
— FourPlex Guy Carlos Gonzalez (@dig_deeper1) January 23, 2024
Last year she increased her fee by 60%
Must be nice
Accountants quit being stupid on fees. He says CPA was charging $500 for a 26 rental unit tax return and is upset his fee went up to $1,000 over 2 years. Do better. We are better off without bottom feeders (CPAs and Clients like this). https://t.co/3jynTmZxz7
— Hatfield's Mama CPA 🐸 (@HatfieldsMama) January 23, 2024
Advice column:
My Tax Preparer Just Raised Her Fees — What Should I do? Oblivious Investor
- My tax guy just told me he’s going to be charging about 40% more this year for our return, relative to what he charged for the last several years. What should I do?
- My tax preparer told me her price is increasing to [whatever dollar amount]. Is that reasonable for [a particular level of return complexity]?
- My CPA’s hourly rate just increased to $250. That seems insane. Do CPAs really make $10,000 per week during tax season?*
Double L for this person on Reddit:
Tax Prep Fee
byu/Terrible-Chip-3049 intax
Comment
byu/Terrible-Chip-3049 from discussion
intax
Just wondering if my CPA fees were reasonable? I’ve experience fee creep over the last few years and the creep seems to be on a much higher level than inflation itself would suggest. My CPA is actually an EA, not a CPA and he prepares a joint personal tax return for myself and wife, and a corporate tax return for my small business S-corp. He does the federal and CA filings. He also includes the tax return for three children (two of whom are adults but earn no income other than investments). Fee is $4000
I have no problem with the accountant and feels he knows what he’s doing. However, recently he contacted his clients to let them know he is moving to a lawyer type fee structure ie: additional hourly charges for any issues that you may want him to answer.
I felt that $4000 was enough and am now thinking of abandoning ship before I figure out how much is really enough for him. Previous accountants have always had a fee structure where you paid them per return but could call them anytime throughout the year and ask questions. I don’t like this new arrangement and was wondering if it was common and what kind of rates others were paying.
“You can take the tax preparation class yourself for under $200”
Charging that much to do taxes??? Lmfao no ma'am… You can take the tax preparation class yourself for under $200
— Gucci Ma'am (@TittyFlex) January 23, 2024
And now for a little encouragement. Read and internalize this message.
Comment
byu/fupapatrol29 from discussion
intaxpros
Remember, clients are having a harder time finding a professional than you are finding clients. You’re the hot girl on Tinder, they’re the guy holding up a dead fish who didn’t even fill out his profile.
Talked 2 prospect 2day whose reason 4 finding new CPA: old CPA raised fee 500 over 2 yrs. Spent 10 mins expl why old CPA had 2 raise fee. Don’t know who old CPA is. Told prospect we more than doubled min fees this year. Still wants 2 meet. Stick by ur guns people! #TaxTwitter
— Johanna Sweaney Salt (@JohannaSalt) December 6, 2022
Bonus late addition:
GOOD LUCK!
Good luck! pic.twitter.com/tJCOc7GgIA
— Blake Oliver (@BlakeTOliver) January 25, 2024
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