Cost to prepare quarterly estimates?

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#1
NYCCPA  
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196
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23-Apr-2021 5:11pm
Location:
NY
How much are you charging to prepare quarterly estimates? I treat it as anything else I do and bill by the hour. So if it takes me an hour that's $300. I have a number of low to mid six figure clients that are all self-employed. They don't seem to realize that before I even touch their tax returns they are $1,200 in the hole (an hour a quarter, give or take). Even though I explain this before I prepare the estimates. They don't want to give the IRS a cent more than required at the time, but also don't want to pay me to ensure they don't...
 

#2
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8284
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4-Mar-2018 9:03pm
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The Office
I include preparation of safe harbor estimates in the annual compliance fee.

If a client wants to rerun one or more quarters, I bill based on time used.

A client that has stable or growing income shouldn't need a fully dialed-in estimate each quarter right? Just get them paid into safe harbor. The math there is pretty easy.
 

#3
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679
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30-May-2014 1:43pm
Location:
MA
Maybe we are the exception, but 99.9% of clients with estimates have the estimates set for when we finish the 1040 and we do not revisit the subject again until year end planning. So if I have a 100% S Corp Shareholder who had a $350k bottom line in 2021, then I might set his quarterlies for $25k each quarter in 2022. They will make the prepared quarterly estimates for the first 3 quarters and then maybe we adjust the 4th up or down.

But we are certainly not setting estimates each quarter. And not for self employed people either.
 

#4
smtcpa  
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523
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28-Jul-2014 5:16am
Location:
Richmond, VA
Same here. It's super easy with the tax software. If we need to get into details, we do so after tax season and I provide a quote based on complexity.

BerkshireCPA wrote:Maybe we are the exception, but 99.9% of clients with estimates have the estimates set for when we finish the 1040 and we do not revisit the subject again until year end planning. So if I have a 100% S Corp Shareholder who had a $350k bottom line in 2021, then I might set his quarterlies for $25k each quarter in 2022. They will make the prepared quarterly estimates for the first 3 quarters and then maybe we adjust the 4th up or down.

But we are certainly not setting estimates each quarter. And not for self employed people either.
 

#5
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2651
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24-Jan-2019 2:16pm
Location:
North Shore, Oahu
Built into an inclusive price, so I don't charge.

But my ala carte fee would be $350 for the year (includes updates because they are simple to update).

I tell them to check in in August.
 

#6
ATSMAN  
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2094
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31-May-2014 8:34pm
Location:
MA
For my business clients Qtly Estimates are included in the base price.

For non business clients, particularly those that have massive Sch D income, it varies by what they pay me for other services. Oftentimes it gets buried in the base pricing.
 


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