New Topic
Post Reply
Follow Topic
I am starting a new bookkeeping, payroll and tax firm in the New York City area.
I wanted to get some feedback from business owners regarding what they pay for these services, do they pay hourly or flat fees and do they consider those fees responsible.
One thing that impacts fees is the degree to which the data entry is outsourced. Would you consider it a selling point if a firm promised that all your data will be processed in house?
Thank you in advance for your help.
One way to calculate fees is to go into Salary.com and type in your profession. You can also use the formula below. you'll be
surprised how accurate the formula is.
X = hourly rate
X=y+H+M+P+F
Y = the yearly salary you desire devided by the number of hours you can realistically bill for in a year. This gives you a base hourly rate. Then add approximately 15 percent to your base hourly rate cover your self employment taxes. This will give you "Y"
Now add in your hourly cost for H (health insurance), M (your marketing costs), P (professional fees and memberships), F (fudge factor). Add these hourly cost all up and that gives you "X." "X" equals your hourly rate for service.
ken,
call some local firms yourself and pretend to be a business (the kind that you are targeting) that needs tax services. gather data, break it down by the type of business, sector, demography, geography, etc. i would think this will give you a good data set to start with .. .
Post Reply
