08 Aug Alba CPA Cost Structure – Transparent Costs Philosophy
Alba CPA Cost Structure – Transparent Costs Philosophy
Alba CPA Cost Structure
Alba Translations, CPA prides itself in being transparent and having a simple CPA cost structure. 75% of our clients (business services and tax returns) will fit into the costs described below. Sure, there’s always the outlier or the unusual situation, but the following information gives you an idea of our pricing philosophy.
All returns include NJ State filing, E-File, and Direct Deposit
- 1040EZ (Dependents, Students, Only W2 income) – $100
- 1040 (Standard or Itemized, Dividends, Own home, Interest) – $199
- 1040 + Rental or Investment (K1/Cap Gains) Income – $250
- 1040 + Schedule C (Self-employed or SMLLC) – $299*
*Additional costs may apply depending on the complexity of the business. Does not include bookkeeping.
Bookkeeping–Bank statement review and income/expense compilation $99/hr
Our primary focus is business consultation, deduction optimization, and tax return preparation. Typical cost range is $400 to $1,200 for partnership and corporate tax returns depending on the quality of your accounting records.
- 1065 Partnership Return – $399 to $1000
- 1120 Corporate – $550 – $1000
- 1120S – $600 – $1200
We can create an LLC, partnership or corporation starting at $399 including the state filing costs. Includes Articles or Certificate of Formation, EIN, and NJ employer registration/Sales Tax and consultation to help you launch your venture.
- Limited Liability Company (LLC) – $399
- Corporation (C or S election) – $570
- NJ Home Improvement Contractor – $200
- DMV CorpCode – $50
We can have your entity taxed as an S corporation for $200. We also easily elect late S Corp elections back to Jan 1 2018 for $275. You can quickly save 8 to 10% on your net business income by reducing self-employment taxes!
S Corp Package
Alba Translations, CPA specializes in S corporations which have a small number of shareholders, and often just a one-person show. Did you know that 95% of all S Corps have only one shareholder, and 99% of all S Corps have three or fewer shareholders?
S Corp Savings
If you own a business as a garden variety single-member LLC (one owner or shareholder), your business income will be reported on your personal tax return under Schedule C and is subject to self-employment tax (currently 15.3%) and ordinary income tax. The same is true for a business that has not formed a corporation such as a sole proprietor and partnerships. So, you could easily pay an average of 40% (15.3% in SE taxes + 25% in income taxes) on all your net business income in Federal taxes. Wow!
However, when your partnership, LLC or corporation is taxed as an S-Corp you are both an employee and a shareholder. As an employee, your income is subjected to all the usual taxes that you would see on a paystub- federal taxes, state taxes, Social Security taxes, Medicare taxes, unemployment, and disability. However, as a shareholder or investor, you are simply getting a return on your investment much like a dividend which is not subjected to self-employment taxes.
Net savings is about 8-10% of your net business income after expenses.
As mentioned elsewhere we primarily focus on small business owners and their unique consultation and tax preparation needs. Alba Translations, CPA consults on corporate structures, S corp elections (even late S corp elections back to January), tax strategies, business coaching, industry analysis, executive benefits, retirement planning including individual 401k plans, investing, exit strategies, income tax modeling and tax representation.[/vc_column_text][/vc_column][/vc_row]