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Thread: accountant question...

  1. #1
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    Default accountant question...HELP!!!

    ok, so i was referred to this accountant. he's supposed to be great and specializes in working with people in the adult industry. he is really nice. however, i have heard that he charges A LOT! i asked him on the phone how much his rates were and he said he couldnt tell me. first off, rumor has it he charges 2 grand!!! i REALLY cant afford that, but i dont want to go to a crappy accountant- i'd hate to have screw ups! should i be suspicious of him? would an accountant tell me up front how much his rates are? (the rumor i heard it from was from a girl who features, is a house dancer, models, really big money girl- she bought a brand new suv and is having a house built for her!)

    my taxes shouldnt be super difficult...i dont have a ton of deductions. i havent worked all over the country either (he deals with lots of features).
    Last edited by scarymary77; 02-18-2006 at 02:52 PM.

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    God/dess montythegeek's Avatar
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    Default Re: accountant question...

    It is really a hard question because it is kind of like asking a mechanic how much it would take to fix your car whan you say "my car won't start". He should have given you a better idea, or at least give a price for an estimate. Talking to an accountant is an honesty thing, so I would not be afraid to say "I am not willing to pay more than $x, and think it should be $y", if x is a reasonable estimate, then am I wasting both our time?

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    God/dess FrustratedBunny's Avatar
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    Default Re: accountant question...

    $2000 are you serious? I'm not dancing but I'm a contractor. Last year I had may CPA charge me like $235 or so. I had all my info organized on spreadsheets and I think I got a discount for that. I also had one (oh what do you call it?) where I stopped doing that to make money and had to recapture assets and transfer them or something. I dunno, but it sure didn't cost $2000! My friends husband is a CPA and she says he'd probably charge around $300.

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    Senior Member DanMorris95156's Avatar
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    Default Re: accountant question...

    Discussing the price for accounting/tax services -- to a large degree is ludicrus. Why? Simply because your tax return is not a commodity and your situation isn't "just like your friends".

    Additionally - prices run the board. There are WalMart pricers and there are Ritz Carlton pricers - and the two offerings aren't identical and the knowledge of the provider; the underlying quality of the supporting documents; the level of artistic ability to render a result that you desire within the limits of the rules and regulations. The depth of business knowledge that assists you in acheiving your goals. All of these and more help you develop what a good value is for any business or personal service (same goes for dance clubs and dancers, except instead of a buyer you are a seller).

    Also - there are a larger number of part-time professionals (or professional want to be's) that have either limited or old experience/education and they work out of their house moonlighting in the business or they only operate January - April. These services (including HRBlock types) can offer quality services to malpractice. The challenge is as a walk-in you can't tell. And, unlike a haircut at a mall type hair salon - an error on your tax return is way more costly (and in stealth mode for a long time) then say a bad haircut that will naturally heal.

    Questions to ask a professional include - their depth of general knowledge, their specific knowledge, their success rate in handling audits, their personality, are they full or part-time in the business.

    If you want to know the type of questions I ask to ascertain if a prospective customer is a good fit - you can review my screening tools at my primary CPA website www.cpadudes.com - this screening tool is being used by more and more professionals. The questions though apply to each and everyone of you so you can determine if all you need is simple fill in the forms (you use their software instead of buying TurboTax. Or do you really want advice and access to a lifetime of knowledge that your professional can immediately tap to help you achieve your goals.

    It was well said in a story about Picasso in France during the 30's. An American was walking towards the river when she saw Picasso painting and ask him to sketch her. And he did. Then he asked for like 3,000 francs or some large amount and she gasped. Why could it be so much? You only spent 15 minutes. "Madam", said Picasso - "15 minutes on the sketch pad - a lifetime in the hand, the eye, and the mind" -- True talent requires a lifetime and that can't be measured by a $300 tax return.

    Feel free to write me or call me and regardless if I can help you or not - I will assist you in your decision making as a committment to you, your profession, and for my customers in the adult world.

    Kindest regards,

    Dan Morris
    Daniel D. Morris, CPA
    [email protected]

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    Featured Member MadisonM's Avatar
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    Default Re: accountant question...

    To do your taxes, an accountant normally charges a few hundred dollars (2-300). Paying much more than this is a ripoff and you should go elsewhere.
    Take the road less traveled- just make sure you have a map.

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    Banned Melonie's Avatar
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    Default Re: accountant question...

    In the most basic sense, regardless of the 'Picasso Factor', the price you're going to wind up paying an accountant to do your taxes is going to be directly proportional to the amount of 'work' required to do that. There's a huge amount of additional work required to file a different tax return for different states you have worked in (I think that my busiest year required filing 6 state tax returns). There's also a huge amount of additional work required to enter multiple stock/mutual fund sales and capital gains calculations. There's still more work involved to account for foreign bank accounts, foreign taxes and foreign tax credits, particularly if this also requires filing foreign tax returns in order to get the credits. All of these aspects of tax return preparation may come into play for a feature.

    On the other hand, house dancers working in the same club in the same city all year long who do not have much of an investment portfolio have a much simpler situation ... one federal tax return and one state tax return.

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    Default Re: accountant question...

    well, i met with him. no, it's not gonna cost 2 grand. whew! thanks for the help everyone on some questions to ask an accountant when selecting one.

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