How much on average does it cost to have your small business (7 employees) taxes done?

Posted on September 28, 2011 by

Question by lindsay_kinzie: How much on average does it cost to have your small business (7 employees) taxes done?
We are trying to find a place to do our taxes for our business and I have no clue what is even a good price. Is it in the thousands, hundreds, or what?

Best answer:

Answer by spicertax
Probably $ 500 and up. Get an estimate from a CPA before hiring him.

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2 Responses to How much on average does it cost to have your small business (7 employees) taxes done?

  1. Judy1 says:
    September 28, 2011 at 8:34 pm

    Depends on how complicated your business is, and who does the return. But high hundreds at least, or very possible $ 1000 or more. Go with a CPA or enrolled agent.

  2. Henry says:
    September 28, 2011 at 9:09 pm

    First, depends on where in the country you live. Second, how much have you done to prepare your info for the tax preparer? Have you used an accounting program such as QuickBooks throughout the year? The more you do, the lower the cost. In fact, if you run a report in QuickBooks (Reports, Financial, Profit and Loss Standard) you can get an idea of where you are and how much you will owe.

    All this also depends on your business structure – are you incorporated or a sole proprietorship?

    In fact, if you are pretty savvy, you can use TurboTax for business and do your own, then if it makes you feel better take it to a CPA for review only. Must less costly.