Cost of Services & Fees

 

ACCOUNTING/BOOKKEEPING work is billed on an hourly rate of $100 per hour (billed $25 per 15 minute increments). This includes preparing and assisting businesses with record keeping, monthly bank reconciliations, credit card reconciliations, sales/use tax returns, monthly inputting of check stubs, updating your records, adjust book balances, quarterly review, QuickBooks set-up and assistance, business start-up and initial filings, tax planning, business planning, and business consultation.

 

With-in Bookkeeping Made Simple, LLC, we offer the following assistance:

Timely, efficient bookkeeping services are available for businesses of all sizes. This ensures your books are compiled and accurate for not only tax preparation, but also for other sources. Computerized accounts are prepared, saved and presented for client review on a quarterly, monthly, and/or annual basis. Budgeting and forecasting support are also available. Our Bookkeepers are Authorized and trained in QuickBooks. This includes training you on QuickBooks. The Bookkeeping rate can be billed at an hourly rate or a set-up as a retainer rate (ie: weekly,monthly, quarterly, etc.).  Let us help your business get organized and grow.

 

We offer Bookkeeping Packages for any size business.  Our office will prepare a retainer that outlines the items that would be filed under the package needed for your business.  Here are some of the packages offered:

 

Package #1:  Small Business with Less than 4 business accounts (checking, savings, credit cards, loans) we can prepare the bookkeeping within our office on QuickBooks, and keep up with the numbers for your business throughout the year. This monthly package would be $205 per month on a 12 month plan.  This plan only includes bookkeeping and the filing the Annual Ohio Unclaimed Funds for every business in Ohio for tax compliance.

Package #2:  Small Business with 5 to 8 business accounts (checking, savings, credit cards, loans) we can prepare the bookkeeping within our office on QuickBooks, and keep up with the numbers for your business throughout the year. This monthly package would be $375 per month on a 12 month plan.  This plan only includes bookkeeping and the filing the Annual Ohio Unclaimed Funds for every business in Ohio for tax compliance.

Package #3:  Small Business with 9 to 12 business accounts (checking, savings, credit cards, loans) we can prepare the bookkeeping within our office on QuickBooks, and keep up with the numbers for your business throughout the year. This monthly package would be $525 per month on a 12 month plan.  This plan only includes bookkeeping and the filing the Annual Ohio Unclaimed Funds for every business in Ohio for tax compliance.

 

If your business needs assistance with Payroll Processing, Payroll Reports, and Year-End Reporting, to include Form W-2s and Form 1099s, we can prepare these as well for your business.  These services are charged depending on the number of employees and/or subcontractors.  These services are not included in the above bookkeeping packages; however, these packages can be modified to fit your business needs.

These monthly packages can also be adjusted to include Corporation or Partnership Tax Returns as well.  During an initial consultation, we will outline the items required for your business for filings and see how much assistance you need for your business for bookkeeping.  Let our office staff help you relieve some of your bookkeeping and tax compliance issues.  We are here to help you take away the burden of running the books and letting you utilize your time better running your business!  Please call our office for a consultation at (330) 494-9659.

 

TAX PREPARATION fees are as follows:

Individual and Small Businesses are charged per form prepared for an accurate and complete tax return - Federal (IRS), States, School Districts, and Cities (due April 15th).

For example

(1) Individual with only W-2s, the tax preparation cost Federal & State only would be $160.

(2) A Small Business (Sole Proprietor or Single Member LLC) would have at a minimum, the Forms 1040, Schedule C, Schedule SE, depreciation, and Ohio State tax return starting at $215 (additional forms/fees for Home Office, multiple assets, or additional Schedule C needed) (plus $25 per Ohio School District and $25 per city return, if needed).

(3) An Individual that would have wages, a Rental Property would be at a minimum, the Froms 1040, Schedule E, depreciation, and Ohio starting at $215 (plus $25 per Ohio School District and $25 per city return, if needed).

* Individual Returns can have an Expedited Return within 5 business days of dropping off for an additional fee of $50.  

C Corporation, S Corporation, or Partnership tax returns are for C Corporate federal and state tax returns start at $450  (due April 15th).  S Corporation preparation is $450 (due March 15th) and Partnership preparation is $450 (due March 15th).  Each city return is an additional $30 (due April 15th).  For adjustments to the QuickBooks and/or the books, the fee is based on an hourly rate of $100 (billed $25 per 15 minute increments) to update the books, along with verifying and balancing year-end figures.

* EXTENSIONS are filed for a preparation fee of $30 each for Businesses, Corporations, Partnerships, and/or Individuals.  Must be paid for prior to the extension being accepted.

* Taxes Made Simple is an Authorized e-file provider. Electronic filing is included for Federal and most states.

* Along with preparing your current year tax returns, we will also review the prior year tax returns FREE of charge. If there are any mistakes or missed deductions, an amended return needs to be filed immediately. There is a charge for the amendment(s).

TAX NOTICES/PAST TAX ISSUES are billed at a rate of $100 per hour.  Minimum charge is one hour or minimum of $100 to assist gathering and working with the IRS, State of Ohio, or other local authority.  We can assist you with past tax issues by correcting a posting error, adjusting penalties, or even removing the tax and penalties on your tax account.  Do not let the notice go unanswered!

                                                                    “Don’t Let Taxes Overwhelm You!"

PAYROLL SERVICES are billed on an hourly rate of $100 per hour (billed in 15 minute increments). . We can prepare your payroll checks, assist with payroll deposits, prepare the quarterly payroll returns, prepare the Annual Ohio BWC True-Up Report (Form 941, Federal Unemployment, Ohio Withholding, Ohio Unemployment, Ohio School District Withholding, City Filing Requirements, Workers Compensation, etc.), and prepare the year-end reports along with the Tax Form W-2s and 1099s.

SALES TAX SERVICES are offered.  If you have a filing requirement of Semi-Annual Filing for Ohio Sales Tax the preparation fee of $50, we will file online through the Ohio Business Gateway site as required.  If you have a filing requirement of Monthly Filing of Ohio Sales Tax the preparation fee of $30, this is per month and filing completed online through the Ohio Business Gateway site.  We will work with you to ensure these reports are filed timely and accurately.

OTHER BUSINESS FILING SERVICES are offered.  We file the forms your business needs to stay in compliance. 

*  All businesses in the State of Ohio are required to file an Annual Ohio Unclaimed Funds report.  Our office will ensure you are in compliance with the State of Ohio with this filing requirement for a preparation fee of $50. 

*  If you business needs the Heavy Use Tax filing, we can assist you with your vehicle reporting in order to renew the registrations on your truck(s) for a preparation fee of $55. 

*  If your business is required to file an Ohio Commercial Activities Tax (CAT) or Quarterly Ohio CAT filing, we will ensure you have met this filing requirement for a preparation fee of $50 each filing.   Starting in 2024, to be eligible for an Ohio CAT Account, sales must be at least $3 million.  Threshold increases in 2025.

There are many other filing requirements for different business, let our office help your business stay in compliance.

NOTARY SERVICES are offered. This service is free to all current clients (within one year of service).  This includes such documents as a Power of Attorney, promissory notes, statements, affidavits, Vehicle Titles, etc…  For those who are not current clients, most notary items are $5 each per signature/seal.

RETAINER SERVICES - Depending on your business/individual needs, any of these fees can be set up into a retainer as well.  A retainer is an agreed upon monthly fee that includes a variety of services that are specified to your needs.  This will benefit your business for budgetary purposes and cash-flow needs.  This fee is set up to include an overall discount of our fees from the normal hourly rate.

 

Our office hourly rate of $100 per hour (billed in 15 minute increments).  If there are any questions in regarding to services or fees for your needed services please call our office at (330) 494-9659.  These listed prices are effective through 2024, last updated January 18th, 2024.

 

ACCEPTABLE FORMS OF PAYMENT - We accept Checks, Cash, and Credit Cards/Debit Cards.  We currently run all Credit Cards and Debit Cards through Square or PayPal for processing. 

** All Tax Returns are paid in full prior to electronically filing.  No tax return will be submitted without full payment on the account. 

** If a Tax Return is completed and is not picked up within 60 days of the completion, an additional $50 fee per month will be added to the preparation fees. 

** If a Tax Return is dropped off, prepared with what is provided, and we continue to wait for the additional information beyond 60 days, an additional fee of $25 fee per month will be added to the preparation fees. 

** If needed, an extension may need to be filed on your behalf, an additional fee of $30 will be added to your account for the cost of the Extension and must be paid prior to the Extension being submitted on your behalf for the Federal, State, and Local Authorities.  Also, See Late Fee Schedule/Collection Policy Below.

 

LATE FEE SCHEDULE (as of 1-1-2014)

All tax returns are to be paid in full upon completion and pick-up.  No tax returns will be e-filed with a "balance-due" on your account.

All non-tax preparation service invoices are due with-in 15 days. 

 Collection Policy

After 30 days from date of invoice, a monthly finance charge of 2.5% will be added to the account until paid in full.  A monthly finance charge will be added to your total invoice at a rate of 2.5% of the total account balance (30% APR) or $2.00 minimum charge per month, whichever is greater.  These charges are assessed around the first of every month.

After 60 days from date of invoice, a processing fee of $25 will also be added to the account along with the monthly finance charge.  No future work will be performed by Taxes Made Simple, Inc.

After 90 days from date of invoice, all outstanding accounts without any action or received payments will be turned over to our collection agency.  At that time, the account balance will include an additional $35 collection fee.

After 120 days from date of invoice, all outstanding accounts with no received payments will be turned over to our law firm.  At this time, the account balance will include all lawyer fees (min. of 2 hours at $250/hour), all court costs, and processing costs.