Are you considering hiring a CPA to take care of your finances? You have made the right choice.
Whether you are a freelancer, professional, or business owner, maintaining accounting books can be a complicated and time-consuming task. And when the tax season comes around, preparing and filing taxes can be even more daunting.
So hiring a CPA a.k.a a certified public accountant is one of the wisest investments you can make. A CPA will not just file your tax forms and manage your accounting books but will help you plan your finances better to reduce the tax burden. Hiring a CPA will also ensure your taxes are filed in a correct and timely manner.
But How Much Does a CPA Cost?
This is a common question on every individual mind who wants to hire a CPA for stress-free tax preparation and accounting. And the best person to answer this question is a CPA himself.
So we reached out to Adam Valdez, an accountant from San Antonio, TX who owns Adam Valdez CPA firm in the San Antonio area.
According to him, the cost of hiring a CPA varies based on several factors. Some CPAs charge by the hour while others charge a fixed price based on services provided. And there are other factors that can influence the cost of hiring a CPA too.
1. Type and Number of Services required:
If you are simply looking to hire a CPA to fill up your tax form, the cost will be considerably low.
But if you want the CPA to plan your taxes to reduce the tax amount or need special consultation on a particular situation, the cost will be much higher.
The more work your CPA has to do, the higher will the cost as vice versa.
2. Area of Residence
The cost of hiring a CPA will also be influenced by your area of residence. For eg. the average cost of CPA in San Antonio, Tx is less compared to hiring a CPA in say Rhode Island or Washington.
3. Scale of Business
Another factor that determines the cost of CPA is the complexity of work. The more income streams you have, the more complex tax filing can be. So the amount charged by your CPA will reflect those complications.
If you are a business owner, the CPA will charge based on the turnover, assets held, and business activities. Even the structure of your business can affect the cost.
For eg. If you are a sole proprietor with a small business, you can expect to pay much lesser compared to a partnership or multimember LLC.
And if you run a small business, the cost will be much lower compared to a well-established business.
4. Experience of CPA
Any accountant can use software and fill in numbers to prepare a tax return. But a good CPA will cost you more since he will also help you save more money in the long run.
So if you are hiring someone to do taxes, you want him to be a well-experienced CPA who knows his way around laws and tax-saving schemes.
If you are looking for a trusted CPA in San Antonio, Tx, call Adam Valdez CPA for a consultation. They have been providing accounting services in the San Antonio area for over 3 generations and will help you with tax filing, preparation, and even book-keeping.