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What does it cost to hire a CPA?
Home » Accounting » CPAs » What does it cost to hire a CPA?When hiring a CPA, fee structures vary and different types of practitioners have different levels of training and experience. There is everything from sole practitioners to the major four accounting firms.
Most CPAs charge a specific fee per hour. Accountants may charge by the month to keep books and charge extra to prepare the tax returns. The combined total can push your accounting bill up. Many small companies and sole proprietors are unwilling to pay the amount. However, most of the time, potential savings of having a professional on your team will offset the money spent.
Things to remember when hiring a CPA:
• Sign an engagement letter which details the expectations between the CPA and you. This helps avoid misunderstandings
• Ask the CPA to establish a “not-to-exceed” fee amount in the engagement letter. One problem in fee discussions is the difficulty of predicting the final fee.
• Ask your CPA to set clear boundaries of the work he is to do.
• Ask your CPA to keep you informed on the progress of the project.
• Set points at which you will make a decision on whether your CPA should proceed with your work.
• Remember you can end the CPA engagement at any time.
Websites:
aicpa.org
bls.gov
cpadirectory.com
cpafirms.com
tscpa.org
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