Accounting Fees

Ok - I'll ask it a different way - what amount do you factor in for each rental property for accounting fees?

I understand that people have different structures so I am interested in those who are individual (or partnerships) taxpayers not trusts or companies.

Thanks

Cathy
 
Cathy I guess the reason why no one has answered your post is that accountant's fees vary greatly. I guess the answer to your question will be to investigate this with accountants yourself, call them and find out what their hourly rate would be etc. Ask then how much time it would take them etc.

My own experiences with accountants vary as well. I had one charging me very little initially (and I stress initially!), something around $100 for one investment property. Then his fees hiked up astronomical amounts to over $500 and I discovered that he did no depreciation for me, missed so many deductions and that I will now have to pay someone else to modify my returns. High fees don't always mean good value!

Charges may also depend on how well you have kept records, if you hand your accountant bits of paper in a shoe box then expect to have to pay. If you have sorted it all out in the best possible manner then hopefully it will take the accountant less time to sort through.
 
Hi cathyb,

The main thing is to get someone you trust and feel comfortable with. If they charge slightly higher fees then they are well worth it.

Ian
 
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