Finding an accountant for LLC

[NeilCartwright]

I finally went into business with the brehs. Started a multi-member LLC in the transportation industry, trucking specifically. Right now my partner is trying to get us involved with a CPA that LegalZoom recommends.

We're going to be based out of Atlanta, i wanted a black CPA tbhtrying to keep it all black owned, but this cac they got on the line is talking the talk

Breaking down the tax benefits of a C-corp vs S-corp etc. Also said they'll do our personal taxes too. But they're charging 2500 for the year, with unlimited consultations. We're splitting this four ways between the members.

Is this a reasonable price or am i getting taken?

 

[Ghostface Trillah]

Do the math. $2500 a year breaks down to $625 a quarter. Add in whatever the going rate is for tax consultations and 4 people's individual taxes even though it's an LLC and will probably have to file it's taxes twice a year if I remember correctly. So you're getting 6 tax filings for $2500 with the value of a consultation for free.

The real worth of a CPA is how much money they can save you vs how much they cost because tax programs are getting better by the day to where the average person can just punch in numbers and have it done for them. Good CPAs will have loopholes for you to save.

 

[NeilCartwright]

Do the math. $2500 a year breaks down to $625 a quarter. Add in whatever the going rate is for tax consultations and 4 people's individual taxes even though it's an LLC and will probably have to file it's taxes twice a year if I remember correctly. So you're getting 6 tax filings for $2500 with the value of a consultation for free.

The real worth of a CPA is how much money they can save you vs how much they cost because tax programs are getting better by the day to where the average person can just punch in numbers and have it done for them. Good CPAs will have loopholes for you to save.

That's true. Once its broken down he's (along with his company) is doing 8 returns each year. And making sure we pay quarterly taxes for the business.

I haven't had the time to sit down and vet other CPAs in my area. Just wanted to run this thought past this sub-forum.

 

[Swirv]

Keep shopping around. I wouldn't have the same cpa doing both my business and personal taxes. If they are shady it will be easier for them to steal with all that control. Besides you could have your personal taxes done for free damn near.

I would be more interested in how a cpa can help me lower my company's tax burden legally. As well there knowledge in preparing filings for SEC in case you ever take the company public.

Side note, how many trucks are in your fleet and how much are you paying for insurance?

 

[NeilCartwright]

Keep shopping around. I wouldn't have the same cpa doing both my business and personal taxes. If they are shady it will be easier for them to steal with all that control. Besides you could have your personal taxes done for free damn near.

I would be more interested in how a cpa can help me lower my company's tax burden legally. As well there knowledge in preparing filings for SEC in case you ever take the company public.

Side note, how many trucks are in your fleet and how much are you paying for insurance?

At this point we pretty much booked him for the year. It comes out to about 625 each for 4 of us.

I’ll still be fact checking all the books and returns. We just need a trained professional to handle it. Not trying to go out like Clinton Portis

And we’re planning on getting 2 trucks by the end of this year. Long term plan is 12 total.

Not sure on insurance prices, we haven’t gotten there yet. But we’re going to run under someone else’s authority so we should save a little bit on the insurance side.

 

[Swirv]

At this point we pretty much booked him for the year. It comes out to about 625 each for 4 of us.

I’ll still be fact checking all the books and returns. We just need a trained professional to handle it. Not trying to go out like Clinton Portis

And we’re planning on getting 2 trucks by the end of this year. Long term plan is 12 total.

Not sure on insurance prices, we haven’t gotten there yet. But we’re going to run under someone else’s authority so we should save a little bit on the insurance side.

I wish you brothers much success and blessings. I'm on my way to getting a cdl possibly so any game you give in future threads is much appreciated.