Business Accounting Costs
 

Just wondering what others are paying out there for Small Business Accounting fees... Sanity check.

Business Package (Gross Revenue $100-250k/ year) ~ $170/ month
Bookkeeping (24-40 Transactions) ~ $80/ month

Personal income Taxes 2 people ~ $150/ each
Other Tax Prep (T5, T4, Rental Property, etc...) ~ $300/ year

Yearly ~ $3,750 approx

What are you paying (approx) and any recommendations for good Calgary Accounting Firms?

Thanks

O

I do my own bookkeeping through Quickbooks online, end of the year give my accountant access and does my T2 at around $1,000. Personal taxes are pretty straight forward and use Tax Studio for free.

I would say you are overpaying by a little maybe......

I have 6 companies between $450,000 and $750,000 revenue each year.

I take in all my paperwork every 6 months for them to do including all book keeping, submitting all tax and GST returns.

I pay roughly $4400.00 per year for each company.

I wait for turbo tax to reduce there price to $29.99 in April and have always done my own personal returns. Very easy to do...

I have huge amounts of invoices and tracking, and I pay a flat rate of $500/month plus annual year end varying a bit on the year but I would guess around $1500 for year end.

My accountants are excellent. Rubin & Company.

I ran my company so that the amount of invoicing was minimized. $3 Million in Dealer net revenue with less than 100 invoices a year. My accountant was in High River and cost me about $1500 year in 2010 when I retired

To give a ball park figure, we need more information.

What type of business are you running? e.g. sole trader, partnership, company, maybe some new online business.
What is the nature of your business?

How are the records maintained?

What services do you require from the accountant?
Jon

We use Sage50 to manage our company i.e. payroll, inventory, accounting, reporting for $109.00 per month. We like it as it allows you to set up multiple jobs or projects so you can track each separately. Our book keeper\accounting company charges $50.00 per hour and has direct access to our system when needed.

Our projected revenue for 2018 $3-4 million.

Given the info provided I would say you are getting a pretty reasonable deal. Sounds like the bookkeeper is doing 100% of the recording work with the accountant filing the tax returns, GST etc as well. I would say that is a decent price if the work is done on time and is accurately completed,