1800 Accountants vs Local

6 Replies

Hey everyone, I set up my LLC through Legal Zoom and with the business package came a free consultation with 1800 Accountants. At which point following the consultation they offered their unlimited services (access to our own personal CPA, filing both business and personal tax returns, etc.) for an annual fee of $1,400. Just curious is anyway has used them? Any recommendations for a good CPA in the Raleigh, NC area?

@Tyler Cox is your LLC a single member LLC? If it is, then it’s a “disregarded entity” which means any income you make will be taxed at the personal level and not the business level which means you don’t need a business return.

I’m not a cpa, so I could be wrong but I have been reading a ton lately about this with a new bill and talking to my cpa about it all a lot as well.

Finally, I live in Cary if you ever want to meet up and talk REI. I do out of state investing, so that’s mainly what I know the most about.

No tax advice given, consult a cpa

@Tyler Cox also that price of 1400 seems kind of high of itd just your personal tax returns, and you don’t own a lot or real estate.

I will pay less then half that for my 2017 returns and that includes state returns in WI, NC and OH as well as federal. Just something to think about

Also for what it’s worth.. legal zoom is a huge rip off. 

To have an LLC in NC you just fill out a form through the secretary of state and pay a $125 fee and an annual fee of $200 when you submit an annual report and then any income is reported on your personal return if it's a disregarded entity as Caleb said.

If you really fill like you need a CPA I can connect you with a few in the Raleigh area. 

@Tyler Cox

I think it really depends on your tax profile and what is meant by "unlimited services". However; $1,400 does seem high at first glance.

If your tax profile is being paid by the army with a single member LLC with no properties - $1400 is too high.
If your tax profile is being paid by the army and you have multiple properties under a multi-member LLC. If the unlimited services includes being able to communicate with the CPA throughout the year asking for tax advice/strategies; then maybe they can justify the $1400.

I went ahead and pulled a couple posts from BP members requesting the service of a CPA in Raleigh, NC. Please feel free to reach out to the original posters and see who they decided to go with.

https://www.biggerpockets.com/forums/88/topics/280...
https://www.biggerpockets.com/forums/575/topics/33...
https://www.biggerpockets.com/forums/51/topics/494...
https://www.biggerpockets.com/forums/51/topics/241...

In the event that you can't connect with a local CPA - you may want to broaden your search to a CPA that works with clients remotely. There are many on BP who do so.

Basit Siddiqi, CPA
917-280-8544

As a CPA who has several clients that first used 1800 accountants before coming to us, let me just advise to run very far away from them. They are absolutely awful. 

The price seems good, less than you might pay for a high level CPA, but their service is just atrocious. 

@Hannah Smith  and everyone please send me CPAs you recommend. I mainly need help filing for now. Would be nice to work with a CPA that can help with setting up Quickbooks online also.

My wife and I have W2 jobs and 3 rentals, no LLCs. 

What are ballpark costs I should expect for filling and maybe 1-2 hrs to review help with my quickbooks online setup.

Thanks!

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.