A. Sungil Noh, CPA
Certified Public Accountant
Generally, our fees are based upon the amount of time required to complete an engagement and standard hourly rates for our professionals assigned. However, the following fixed fees for routine engagements reflect a substantial discount from our normal standard hourly rates.
You should remember that the following quotation of fees are the estimates of time we are expected to spend. Thus, if you can provide summarized information and easy to follow documents can save our time. If the actual time we spent would be within the estimated time, no additional billing would be required. If we have to spend materially more time than the estimated time, we will communicate it to you before we spend time and a quarterly billing reconciliation would be done by treating monthly fees as retainer fees.
Individuals – You can inquire about an estimated fee by sending an email to us with items of income and deduction. We can quote the fee based on your information. If you decide to proceed, then we will email you the 1040 Organizer (3 pages). Go through it and check off any tax documents that you have (many of them may not apply to you). Email us the filled-out Organizer with supporting tax documents. We will email your tax returns for your review. We will efile them if you okay them.
Starting from $250 for the Federal return and one state return with only one W-2.
Small businesses – You can send us your bank statements or authorize us to just look at your bank transactions online. We will then do the bookkeeping for you and email you four financial reports: Balance Sheet, Income Statement showing monthly and year-to-day revenues and expenses, Bank Reconciliation, and General Ledger (to see all detailed transactions).
We will create your company in an accounting program to track all financial transactions; including payroll,1099s, vendor and customer information, and the chart of accounts. The accounting program has many financial reports that you can view, including the cash management report and budget report.
A Fixed Assets schedule will be prepared to track all of your business assets along with accumulated depreciation. If you have employees, then we will run the payroll on the same accounting program so you can see the payroll information from the above-mentioned reports.
At the end of the year, we will prepare the company tax returns from the above financials. No need to gather all the bank statements once a year or don’t need to wait until the end of the year to see your company’s financial numbers. Instead, you will see them monthly to make informed and efficient management decisions throughout the year.
Under this type of arrangement, you don’t need to hire any accounting personnel. Mr. Noh will review the above monthly financial reports before we email them to you so you are like having an experience accounting manager in your business for any tax savings, tax strategies, estimated tax deposits, financial consultation, etc.
Starting from $175 per month (10-20 writing checks or making payments per month with one bank and one credit card statement) without payroll, with one employee (payroll service) $200 per month, an additional employee, add $25 per month, and monthly sales tax service add $50 for starting from small sales volume.
Medium businesses – You can either send us your bank statements or we can install an accounting system program on your dedicated computer. We can order checks and envelopes for you so you can print your company checks and mail them out in windowed envelopes.
We will show you how to prepare and print a check. We use a free online program to get into your computer to show how to use the accounting system program. Moreover, we run your company’s payroll using the same program so you can print out the payroll checks with payroll check stubs.
We log into the accounting system program to perform various tasks and journal entries (payroll, sales tax, bank reconciliation, deprecation entries, review of financials, etc.) on a monthly basis so you can view the Balance Sheet, Income Statement (monthly and year-to-date numbers), Bank Reconciliation, General Ledger, and many more financial reports once we complete all the entries.
On a monthly basis, Mr. Noh will review all financials, so you are like having a Chief Financial Officer in your company to oversee all tax and accounting operations.
Starting from a monthly retainer fee of $300 that will be applied on a quarterly basis to the actual time our professionals spent at different rates. Generally, the preparation of your company's corporate income tax returns is included in this retainer fee.
The annual accounting system program usage fee is $200 (program costs $1,595, annually, if purchased directly) if we have to provide one on your computer. You should budget about $1,000 for setting up the accounting system for the company, including training as to how to use the accounting system. The above payroll and sales tax charges mentioned in Small Business are applied to Medium Businesses.
Large businesses – Normally you can afford to have your own accounting system program and personnel. Thus, we will train and advise how to run an appropriate accounting department by applying the U.S. generally accepted accounting principles (GAAP) and tax rules.
We work with your accounting personnel, Accounting Manager, or Chief Operating Officer (CFO) to ensure they run their businesses in accordance with GAAP, tax laws, and most effective and efficient ways to set up accounting operations and also go through their annual financial audit smoothly.
Normally, we train your personnel as to how to set up monthly closings and to prepare the monthly closing binders. We review them on a monthly basis to ensure all closings are done correctly. Some clients set up those closings online, so we review them without visiting your place to save time.
Starting from a monthly retainer fee of $1,000 that will be applied on a quarterly basis to the actual time our professionals spent at different rates. Generally, the preparation of your company's corporate income tax returns is included in this retainer fee.
If you decide to use our accounting program, the annual program usage fee is $200 (the program costs $1,595 if you purchased directly). You should budget about $3,000 for setting up the accounting system for the company, including training as to how to use the accounting system. The above payroll and sales tax charges mentioned in Small Business are applied to Large Businesses.