Re: Accountant Fees and Needs

[Guest guest]

We use Quickbooks On-line for accounts payable, 940, 941, W2 and for payroll (1 employee) and The Visionary Office( www.visionarymed.com ) for patient accounts. BTW Visionary allows us to submit free of charge to the Blues, CMS and Medcaid direct and will build ANSI837 files to submit also free of charge to UHC, Cigna, Landmark, Aetna and several others through the Post-n-Track clearinghouse ( http://www.post-n-track.com/ )

Mark

Accountant Fees and Needs

I was curious to what extent people are using accountants. I generally feel pretty comfortable with finances and accounting and consider myself an expert with traditional Quicken for personel finances (never used quickbooks). I certainly plan to consult with and use the account while I'm setting things up, but after that I do forsee that much need.

From what I can tell people use accountants for some, all, or none of the following:

managing books / receipts / bills monthly payroll quarterly taxes yearly corporate tax return

I certainly would not use them for the first one as i can handle that.

I expect to just have me and one employee (possibly 2 if I count my wife) but how hard could it really be to turn in forms monthly with payroll issues - doesnt quick books do a lot of that for you.

quarterly taxes and a yearly corporate return seem like good things to have the account review (or do).

I was speaking with someone today who is a solo podiatrist with 2 employees and he say he pays his accountant (for doing points 2-4) about 6 grand per year. That seemed real high. On the Wiki, it had the 25-75% range for lawyer.acct ($33-99) which seems pretty low.

I was curious how much many of you are using your accountants and how much you are paying on average each year for ongoing fees

thanks

[Guest guest]

,

My accountant charges me an hourly rate for certifying the books,

gives an extra layer of protection from the IRS.  I make my own books with

QuickBooks.  If I wanted her staff to make the books that would have been another

hourly fee (albeit cheaper than the accountant). Personally, I think is worth

it to have her certifying them, in case the IRS comes she can answer the

questions.  Plus I think the IRS tends to “audit” people that make

their own books more frequently (it may not be true but just my paranoid

impression).

José

From:

[mailto: ] On Behalf Of Gordon

Sent: Tuesday, February 10, 2009 9:16 PM

To: practiceimprovement1

Subject: Accountant Fees and Needs

I was curious to what extent people are using

accountants. I generally feel pretty comfortable with finances and

accounting and consider myself an expert with traditional Quicken for personel

finances (never used quickbooks). I certainly plan to consult with and

use the account while I'm setting things up, but after that I do forsee that

much need.

From what I can tell people use accountants for some, all,

or none of the following:

managing books / receipts / bills

monthly payroll

quarterly taxes

yearly corporate tax return

I certainly would not use them for the first one as i can

handle that.

I expect to just have me and one employee (possibly 2 if I

count my wife) but how hard could it really be to turn in forms monthly with

payroll issues - doesnt quick books do a lot of that for you.

quarterly taxes and a yearly corporate return seem like good

things to have the account review (or do).

I was speaking with someone today who is a solo podiatrist

with 2 employees and he say he pays his accountant (for doing points 2-4) about

6 grand per year. That seemed real high. On the Wiki, it had the

25-75% range for lawyer.acct ($33-99) which seems pretty low.

I was curious how much many of you are using your

accountants and how much you are paying on average each year for ongoing fees

thanks

[Guest guest]

I only use the CPA for annual taxes. I doEverything else myself. One caveat:my dad is our CPA - so I get advice forfree throughout the year.Sent from my iPhone

I was curious to what extent people are using accountants. I generally feel pretty comfortable with finances and accounting and consider myself an expert with traditional Quicken for personel finances (never used quickbooks). I certainly plan to consult with and use the account while I'm setting things up, but after that I do forsee that much need.

From what I can tell people use accountants for some, all, or none of the following:

managing books / receipts / bills

monthly payroll

quarterly taxes

yearly corporate tax return

I certainly would not use them for the first one as i can handle that.

I expect to just have me and one employee (possibly 2 if I count my wife) but how hard could it really be to turn in forms monthly with payroll issues - doesnt quick books do a lot of that for you.

quarterly taxes and a yearly corporate return seem like good things to have the account review (or do).

I was speaking with someone today who is a solo podiatrist with 2 employees and he say he pays his accountant (for doing points 2-4) about 6 grand per year. That seemed real high. On the Wiki, it had the 25-75% range for lawyer.acct ($33-99) which seems pretty low.

I was curious how much many of you are using your accountants and how much you are paying on average each year for ongoing fees

thanks

[Guest guest]

I pay $1500 per year which includes

a) personal taxes

corporate taxes

c) payroll

d) Quickbooks supervision.

$6000 per year is very high.

Subject: RE: Accountant Fees and NeedsTo: Date: Tuesday, February 10, 2009, 6:48 PM

,

My accountant charges me an hourly rate for certifying the books, gives an extra layer of protection from the IRS. I make my own books with QuickBooks. If I wanted her staff to make the books that would have been another hourly fee (albeit cheaper than the accountant). Personally, I think is worth it to have her certifying them, in case the IRS comes she can answer the questions. Plus I think the IRS tends to “audit” people that make their own books more frequently (it may not be true but just my paranoid impression).

José

From: Practiceimprovement 1yahoogroups (DOT) com [mailto:Practiceimp rovement1@ yahoogroups. com] On Behalf Of GordonSent: Tuesday, February 10, 2009 9:16 PMTo: practiceimprovement 1yahoogroups (DOT) comSubject: [Practiceimprovemen t1] Accountant Fees and Needs

I was curious to what extent people are using accountants. I generally feel pretty comfortable with finances and accounting and consider myself an expert with traditional Quicken for personel finances (never used quickbooks). I certainly plan to consult with and use the account while I'm setting things up, but after that I do forsee that much need.

From what I can tell people use accountants for some, all, or none of the following:

managing books / receipts / bills

monthly payroll

quarterly taxes

yearly corporate tax return

I certainly would not use them for the first one as i can handle that.

I expect to just have me and one employee (possibly 2 if I count my wife) but how hard could it really be to turn in forms monthly with payroll issues - doesnt quick books do a lot of that for you.

quarterly taxes and a yearly corporate return seem like good things to have the account review (or do).

I was speaking with someone today who is a solo podiatrist with 2 employees and he say he pays his accountant (for doing points 2-4) about 6 grand per year. That seemed real high. On the Wiki, it had the 25-75% range for lawyer.acct ($33-99) which seems pretty low.

I was curious how much many of you are using your accountants and how much you are paying on average each year for ongoing fees

thanks

[Guest guest]

,

I use Quickbooks. Not as intuitive as Quicken for me as I

never had an accounting course. So I allocate costs inappropriately

sometimes. My accountant does my quarterly returns, yearly reports and

return, prepares my K1 for my personal taxes and keeps track of the

depreciation and stuff. I also get a yearly journal correction list to

reallocate expenses and adjust my depreciation. I use Quickbooks

payroll. I have 4 people on payroll now. I just get paid “draw”

and my cleaning person is an independent contractor so gets a 1099. He

also prepares the W-9’s and corrects any mistakes that Quickbooks payroll

makes as it is not always accurate.

For this he charges me $1200/year.

Kathy Saradarian, MD

Branchville, NJ

www.qualityfamilypractice.com

Solo 4/03, Practicing since 9/90

Practice Partner 5/03

Low staffing

From:

[mailto: ] On Behalf Of Gordon

Sent: Tuesday, February 10, 2009 9:16 PM

To: practiceimprovement1

Subject: Accountant Fees and Needs

I was curious to what extent people are using

accountants. I generally feel pretty comfortable with finances and

accounting and consider myself an expert with traditional Quicken for personel

finances (never used quickbooks). I certainly plan to consult with and

use the account while I'm setting things up, but after that I do forsee that

much need.

From what I can tell people use accountants for some, all,

or none of the following:

managing books / receipts / bills

monthly payroll

quarterly taxes

yearly corporate tax return

I certainly would not use them for the first one as i can

handle that.

I expect to just have me and one employee (possibly 2 if I

count my wife) but how hard could it really be to turn in forms monthly with

payroll issues - doesnt quick books do a lot of that for you.

quarterly taxes and a yearly corporate return seem like good

things to have the account review (or do).

I was speaking with someone today who is a solo podiatrist

with 2 employees and he say he pays his accountant (for doing points 2-4) about

6 grand per year. That seemed real high. On the Wiki, it had the

25-75% range for lawyer.acct ($33-99) which seems pretty low.

I was curious how much many of you are using your

accountants and how much you are paying on average each year for ongoing fees

thanks

[Guest guest]

I used to pay an accountant to do everything:

payroll, quarterly taxes, annual reports, etc. Cost me about $300-400/qtr. Now

I do payroll q2wks (15 minutes), quarterly taxes (30 min) and annual FUTA,

W2/W3, state etc (60 min) all by myself. Accountant only does annual income

taxes. When I started out I was intimidated but quickly figured out I could do

this stuff. If you don’t mind number crunching, this is an easy way to

keep overhead down…it’s not as complicated as it initially seems.

Gretchen Reis MD

Wellspring Family Medicine

Circleville, OH

From: [mailto: ] On Behalf Of Gordon

Sent: Tuesday, February 10, 2009

9:16 PM

To:

practiceimprovement1

Subject:

Accountant Fees and Needs

I was curious to what extent people are using accountants. I

generally feel pretty comfortable with finances and accounting and consider

myself an expert with traditional Quicken for personel finances (never used

quickbooks). I certainly plan to consult with and use the account while

I'm setting things up, but after that I do forsee that much need.

From what I can tell people use accountants for some, all, or none of

the following:

managing books / receipts / bills

monthly payroll

quarterly taxes

yearly corporate tax return

I certainly would not use them for the first one as i can handle that.

I expect to just have me and one employee (possibly 2 if I count my

wife) but how hard could it really be to turn in forms monthly with payroll

issues - doesnt quick books do a lot of that for you.

quarterly taxes and a yearly corporate return seem like good things to

have the account review (or do).

I was speaking with someone today who is a solo podiatrist with 2

employees and he say he pays his accountant (for doing points 2-4) about 6

grand per year. That seemed real high. On the Wiki, it had the

25-75% range for lawyer.acct ($33-99) which seems pretty low.

I was curious how much many of you are using your accountants and how

much you are paying on average each year for ongoing fees

thanks

[Guest guest]

Intuit (Quicken) now has a very easy online payroll service which is very reasonable, easy to understand and handles all the taxes and quarterly reports as well.

www.intuit.com

RE: Accountant Fees and Needs

I used to pay an accountant to do everything: payroll, quarterly taxes, annual reports, etc. Cost me about $300-400/qtr. Now I do payroll q2wks (15 minutes), quarterly taxes (30 min) and annual FUTA, W2/W3, state etc (60 min) all by myself. Accountant only does annual income taxes. When I started out I was intimidated but quickly figured out I could do this stuff. If you don’t mind number crunching, this is an easy way to keep overhead down…it’s not as complicated as it initially seems.

Gretchen Reis MD

Wellspring Family Medicine

Circleville, OH

From: [mailto: ] On Behalf Of GordonSent: Tuesday, February 10, 2009 9:16 PMTo: practiceimprovement1 Subject: Accountant Fees and Needs

I was curious to what extent people are using accountants. I generally feel pretty comfortable with finances and accounting and consider myself an expert with traditional Quicken for personel finances (never used quickbooks). I certainly plan to consult with and use the account while I'm setting things up, but after that I do forsee that much need.

From what I can tell people use accountants for some, all, or none of the following:

managing books / receipts / bills monthly payroll quarterly taxes yearly corporate tax return

I certainly would not use them for the first one as i can handle that.

I expect to just have me and one employee (possibly 2 if I count my wife) but how hard could it really be to turn in forms monthly with payroll issues - doesnt quick books do a lot of that for you.

quarterly taxes and a yearly corporate return seem like good things to have the account review (or do).

I was speaking with someone today who is a solo podiatrist with 2 employees and he say he pays his accountant (for doing points 2-4) about 6 grand per year. That seemed real high. On the Wiki, it had the 25-75% range for lawyer.acct ($33-99) which seems pretty low.

I was curious how much many of you are using your accountants and how much you are paying on average each year for ongoing fees

thanks

[Guest guest]

how bizaar! .... I struggle all year to make sure I keep my QB up to date, then hand it over to the accountant so she can hit P for print and charge me $3 grand. Then I manage a complex Type II diabetic, including renal and cardiac screening, vision evaluation, and three meds: metformin, lisinopril and simvastatin and it costs the self-pay patient a whopping $400 for the whole year,

what's wrong with this picture?

,

I use Quickbooks. Not as intuitive as Quicken for me as I

never had an accounting course. So I allocate costs inappropriately

sometimes. My accountant does my quarterly returns, yearly reports and

return, prepares my K1 for my personal taxes and keeps track of the

depreciation and stuff. I also get a yearly journal correction list to

reallocate expenses and adjust my depreciation. I use Quickbooks

payroll. I have 4 people on payroll now. I just get paid "draw"

and my cleaning person is an independent contractor so gets a 1099. He

also prepares the W-9's and corrects any mistakes that Quickbooks payroll

makes as it is not always accurate.

For this he charges me $1200/year.

Kathy Saradarian, MD

Branchville, NJ

www.qualityfamilypractice.com

Solo 4/03, Practicing since 9/90

Practice Partner 5/03

Low staffing

From:

[mailto: ] On Behalf Of Gordon

Sent: Tuesday, February 10, 2009 9:16 PM

To: practiceimprovement1

Subject: Accountant Fees and Needs

I was curious to what extent people are using

accountants. I generally feel pretty comfortable with finances and

accounting and consider myself an expert with traditional Quicken for personel

finances (never used quickbooks). I certainly plan to consult with and

use the account while I'm setting things up, but after that I do forsee that

much need.

From what I can tell people use accountants for some, all,

or none of the following:

managing books / receipts / bills

monthly payroll

quarterly taxes

yearly corporate tax return

I certainly would not use them for the first one as i can

handle that.

I expect to just have me and one employee (possibly 2 if I

count my wife) but how hard could it really be to turn in forms monthly with

payroll issues - doesnt quick books do a lot of that for you.

quarterly taxes and a yearly corporate return seem like good

things to have the account review (or do).

I was speaking with someone today who is a solo podiatrist

with 2 employees and he say he pays his accountant (for doing points 2-4) about

6 grand per year. That seemed real high. On the Wiki, it had the

25-75% range for lawyer.acct ($33-99) which seems pretty low.

I was curious how much many of you are using your

accountants and how much you are paying on average each year for ongoing fees

thanks

-- Annie SkaggsLexington, KY