This may be a tabu subject, but in my city, and many cities, there seems to be a shortage of EA's and CPA's, truly trained. Let's please not have a thread about non EA's/CPA's being equal etc. That's another day.
My city has many tax professionals without credentials but not EA's or CPA's, and of course they may be good, who knows. I sold my practice but maintain about 100 clients that I do from a CFP firm that I joined. The firm has about 15 CFP's and they can't find a CPA/EA to refer to.
Moreover, this is driving up prices. I see firms charging $2,500 for a 1040 with a schedule C, Schedule D a few nuances but nothing crazy.
I literally have a guy in my office BEGGING me to do his 1040. He paid 5K to a regional firm. Said he felt like he was dealing with an 800 number. His return, once in my system might take 5-7 hours if he provides all the docs in a good manner. 3 K1's active, 2 rentals, and a complex set of 1099 B's from 2 accounts.
I have now set my minimum at $600 (UP FROM $500) and clearly state on my invoice that my rate is $3XX an hour.
My buddy is a controller in Boston. Sent an LLC/1065 of his bosseS to get done. 1 building, very simple. He said the fIrm charged him $3,300. I looked at it. Would have taken me 2 hours if I worked slow.
Any one else noticing this??? Any thoughts?
The mandatory 5 year schooling to be a CPA in my view has created some of this.