I mostly do prep and tax planning works and give clients estimated quotes (for new clients and some old clients).
I would assess from prior year returns and do an estimate of time needed. Then give them a fixed price. I will ask for increase (not very often) if the returns got more complicated as I start working on them.
I find my approach quite stressful every year. For new clients, this approach seems to give them some peace. For old clients, I wonder if I should still give them a quote or just increase it a bit every year.
I thought of changing it to regular rate time hours used. If I give the client my regular rate (eg $300/hr), I am afraid that they will flip out and not engage with me or leave me. And I also have to do timesheet (which I am trying to avoid). But some may think that the bill could run up. How to I make them feel comfortable if I am using the regular hour approach?
What method do you use in your practice?