How much do you pay your accountant?

[freewheat]

400 bucks, but I'm just a small potatoes
guy.

[freewheat]

FBC was looking at charging me 4000 bucks
or so the last year I used them. I make
300 bucks a month NOT using them. lol

[fjlip]

Unless you do not have the time or skills, doing your own books, accounting, investing and tax returns is definitely the best way to understand your business.
We do it all with various software and have had no regrets, no tax due audits.
Time well spent according to the costs incurred above.

[LEP]

I spent a decade in the ag banking business. My customers that used FBC
had the most mistakes, paid the most and were the least satisfied with the
result.

Personally I wouldn't touch them.

I use a local CA firm and pay $3,500 for a corporate return, CAIS, and two
personal returns. This includes some forecasting and minor tax planning that
are run of the mill.

If and when I get into the estate issues I would expect to pay extra for that
work.

[hobbyfrmr]

Same thing, I hand in my Excel ledger of income and expenses, I do the numbers for CAIS or AGstability or whatever its called.
I am small potatoes as well, $800 for myself and my wife.
I truly hate doing the agstability bs.I have never caught on to software, although I am not computer illiterate. Somehow, I have this aversion to self learning any kind of accounting software.
Can someone suggest a place to take classes on simply accounting, or microsoft books or something? After all, I sit at the computer and plunk in the names and numbers into Excel.

[groundspeed]

I was told fbc dont actually have anyone thats chartered. A family member tried to get a large loan last year to buy a busness and the bank wouldnt do it because fbc did their books for several years and said they wont go by them for that reason. Everyone says they charge like hell to.

[mcfarms]

lnewman
Not knowing your situation however be careful of association rules and the loss of small business rates if thats something you have been using to stay under the 500000 limit on the combined taxable incomes of the 2 companies if thats something you may be facing, It's a lot more complex than I had thought. Know someone who is paying a wack to lawyers and accountants because he was left shares in an estate in another land/farming company controlled by his father. They on top of that because of either good or bad management built up cash in the 2 corporations and have put themselves off side with the definition of an active farming corporation (the 90-10 rule) and could be taxed at a very high rate on the net value of the corporation should the controlling officer of either of the companies pass away with the company carrying too much cash so then they have to set up another conpamy and "butterfly" excess cash over to the other company. sounds riduculously complicated.

Some good definitions here

http://www.cabusinessadvisor.com/Defin.htm#SBD

[grassfarmer]

"I want my accountant to help me with other things
like ratio's and benchmarking and helping me
understand my business, goals and future
direction."

That seems strange to me - you should know your
business better than anybody else does. How can
you give your figures to an outsider and expect
them to understand your business better than you
do? And paying them to help you understand your
goals and future direction?

[fjlip]

Ag Expert does Benchmarking and Ratios.
All you need is accurate input. You bank or CU would have advice.
We must set our own goals, write them down and review often.
Succession is unique to your operation.
Accounts would help with the process.

[Burbert]

You boys/girls paying thousands to
accountant, deserve ta loss your farms.
What is wrong wit yous? Is math a big
problem for yous people? Or are you
simple dumb Comedian framers, that are
hopeless, when it comes ta reedin and
rightin.........