The Watson CPA Group prides itself in being transparent and having a simple fee structure. Most business services and tax returns will fit into the fees described below. Sure, there’s always the outlier or the unusual situation, but the following information gives you an idea of our philosophy. We only have time on this earth to sell, and we cannot inventory it. Our fees are an attempt to coincide with expected time spent. Having said that, we try to maintain historical fees for returning clients. Please click on each button below for more information.
S Corp Package
The Watson CPA Group specializes in S corporations which have a small number of shareholders, and often just a one-person show. Because it is a core competency for us, we have created an S corp package that includes the following (No, the S doesn’t stand for stormtrooper)-
- S Corporation Tax Prep (Form 1120S)
- Individual Tax Prep (Form 1040)
- S Corp Payroll Events (required by IRS), Filings and Deposits
- Estimated Tax Payments (done thru payroll)
- Q3 Tax Modeling and Projection (Questionnaire)
- Unlimited Consultation and Periodic Business Reviews (PBR)
- Small Business Tax Deductions Optimization
- Annual Processing (W2s and other filings)
- IRS Audit Defense
Our annual fee for the S Corp package is $2,640 (or about $220 per month). Do you want to parse it out? Sure. If you did your own payroll processing, our fee reduces to $2,160. Perhaps saving $480 to add chores to your Sunday is a consideration (yup, that’s a bit sarcastic). If you do your own individual tax return, our fee reduces to $2,240. However, the benefit of the Watson CPA Group preparing both tax returns is that we slide things around depending on income limitations, phaseouts, alternative minimum tax (AMT), etc.
The button below links to our Periodic Business Review (PBR) Agenda. We use this throughout the year as a checklist for our business clients. We can also use it for any type of business consultation.
Let’s say it is March 2017 (tax season) and you are freakin’ out because you forgot to make the S corp election earlier, you can still file an S corp election Form 2553 back to January 1 2016 but there are hiccups. Isn’t hiccups such a friendly word? Sort of like bumps in the road. No one says pitfalls or disasters anymore, just hiccups. Bottom line is we can engage in some revisionist history on March 1 2017 and create a payroll event for December 31 2016. No worries. Fees-
- Prior Year Late S Corp Election, $375
- Payroll Setup, $300
- Prior Year 12/31/16 Manual Payroll Event, $350 + $150 manual processing (this has to be done manually since deadlines were missed, and it includes writing penalty abatement letters)
- 2016 Corporate and Personal tax returns, typically about $1,200 for both
Total out the door for 2016 is $2,375. Some of these fees are sunk like the late S election and payroll setup- having said that, if your net business income is over $30,000 after expenses, your benefits exceed your costs including tax preparation. Boom! Economists love cost-benefit stuff.
How does all this work? Let’s chat! Your unique situation will probably fit the S corporation world, but a dialogue is much better to determine the viability. Contact us to schedule a complimentary consultation. If all goes well, we will prepare a proposal which outlines the scope of services. View a sample proposal here.
Certified Divorce Financial Analyst
Jason Watson is a Certified Divorce Financial Analyst and will assist in valuing marital property and determining financial projections of various divorce separation agreement scenarios. After a complimentary 15-minute consultation, his rate is $250 for a 60-90 minute consultation. Once under engagement with a $1,500 retainer, his hourly fee is $150 for preparing divorce financial documents and $200 per hour for court, testimony or deposition time.
Marriage is all about love and divorce is all about money, to steal a common phrase. The button below will give you the necessary steps including a checklist of the things the Watson CPA Group needs to prepare your divorce financial analysis and reports.
Colorado Divorce Mediation
Mediation is commonly ordered by divorce courts prior to trial, and can be a great tool to resolve differences yet remain in control of the outcome. Judges are people, and can make wild and unconventional rulings that appear to be from left-field. Divorce mediation is one way to have confidence in a possible outcome. Our mediation services are $250 for the first two hours, and then $150 per hour afterwards. Fees are collected the time of mediation.
Flat Fee Financial Analysis and Mediation
We also offer a simple package for couples who are preparing their own divorce paperwork or who want to explore the finances before divorce attorney get involved. Our fee to prepare divorce financial reports including two hours of mediation is $850. If there is a small business involved then the fee is $1,400 which includes a simple calculation of business value based on net cash flow after adjustments for compensation, personal expenses paid by the business or other normalization of data.
Jason Watson is trained by the American Institute of CPAs for Business Valuation. Jason has represented several buyers and sellers in business acquisitions, and has helped divorcing couples value a small business for divorce property settlements. When performing business consultation and business valuation services under engagement, his hourly fee is $200 with a retainer of $3,000 to $5,000 depending on the complexity of the case.
We also have a short list of additional fees that might be incurred depending on your tax and accounting situation, and your level of readiness-
|Any tax returns that require paper filing||$65|
|Copying and returning of original tax documents||$45|
|Taxpayers who introduce significant changes or additions
after a preliminary tax return is prepared
|$120 / hr|
|QuickBooks help and setup, reconstructing financial statements,
tallying receipts or invoices
|$80-$120 / hr|
|Extensive research, coordinating with attorneys, business
consultation, writing correspondence (CPA or Partner)
|$120 / hr to
$250 / hr
|Staff Accountant billable rate||$80 / hr|
|CPA billable rate||$120 / hr|
|Partner billable rate||
$250 / hr
|1 hour flat rate initial business consultation (click to schedule)||$250|
Please keep in mind that we pride ourselves in not being the nickel and dime type of tax and accounting firm. Generally speaking, we can provide a fee range or a not to exceed ceiling on our services and fees. This is what we do.. all day.. every day.. we have a pretty good handle on what it takes to complete a project.
The Watson CPA Group (team profile)