Price Quote

[Burke]

Need some input for pricing the following: (ballpark estimate)

Retired TP's w/small Sche C, SEPP ded, SEHI, extensive investment portfolio with divs/gains/losses, 8 retirement 1099R's, Soc Sec, standard deduction, estimated taxes for fed/state. Here is the kicker: 17 limited partnerships (oil & gas) with income/deds, 4 transferred from one spouse to another, then 13 sold with susp losses, ord gains, capital gains. What would you charge?

[Corduroy Frog]

Geographical considerations

Burke, I've been following your posts for quite awhile, but never really knew in which part of Virginia you practice.
My area would be similar to extreme mountainous western Virginia, and I would charge appx $500. And I would
have to most likely transcribe the 7 div/cg statements from the stockbrokers and send them to IRS under 8453.

If I practiced in DC area, my price would double. Not cheap to operate in the Tidewater and Richmond areas
either.

[Gretel]

Since, in addition to charge by forms, I watch the time it takes, it's hard to say anything. My price surely would be close to $1,000 in one of the poorest counties of the country. Someone having 17 LP's it surely not poor.

[Lion]

Mine, too, with the time it'll take on those PTPs. I'd also put him on extension, and (if he'd gotten his stuff to me long ago) give him a slight discount for going on extension for my benefit. (If he just brought this in now, no discount for extension; it's his fault.) Minimum $1,000 in pricey Fairfield County, CT. Probably more when all time is tracked.

[BOB W]

When you price it at $1,000+ be sure that you have no hesitation in your voice or body language. You earned every penny.

[Gretel]

When you price it at $1,000+ be sure that you have no hesitation in your voice or body language. You earned every penny.

How well you know us! I sure feel a brake when I am approaching the $1,000 limit, doesn't happen often (often enough).

[Burke]

Plus the fact that the TP's already get a PITA charge I forgot to mention. Am going to love telling them this.

[TaxGuyBill]

Figure out an reasonable amount to charge him, based on your estimated time and the PITA factor. Then add 20%. :-)

[TAXNJ]

Much time and work

Plus the fact that the TP's already get a PITA charge I forgot to mention. Am going to love telling them this.

Without seeing the client's information and based on what you said it to be, a minimum of $1500+ seems reasonable (think that would be half of what a tax attorney would charge for a consultation)

Would not under estimate your expertise

[TXEA]

This is a minimum $1,500 tax return no matter what part of the country you live in. I would not bat an eye at quoting this amount, and I would tell him it is another $75 every time he sells one of those LP interests.

[Roland Slugg]

I noted that the farther down I read, the higher the recommended fee got.

I have nothing to sell but my time and knowledge, and I assume the same is true for you. I track my time and bill accordingly ... after first eliminating any inefficient and/or unproductive time. Rate x Time = Bill. (I do charge a lower "clerical" rate for the time spent printing, signing and packaging everything.)

[TAXNJ]

Agree

I noted that the farther down I read, the higher the recommended fee got.

I have nothing to sell but my time and knowledge, and I assume the same is true for you. I track my time and bill accordingly ... after first eliminating any inefficient and/or unproductive time. Rate x Time = Bill. (I do charge a lower "clerical" rate for the time spent printing, signing and packaging everything.)

Same calculation you use that's how arrived at the following:

"a minimum of $1500+ seems reasonable"