$3,600 for Tax advice and preparation

[Amaury Rodriguez]

I was quoted $3,600 for tax preparation and advice. I own three properties, one duplex, two single families, plus regular W2 income. Properties are located in PA, I live in NY. This seems steep, and I doubt there's some giant source of deductions that I or my current CPA is missing (who is not a RE expert, but is business-focused) that would offset this cost. Does that's seem like a reasonable price for a professional, real-estate focused CPA?

[Michael Seeker]

@Amaury Rodriguez - without knowing exactly what you told the tax professional and/or what they are including in the quote, it's hard to say whether or not the pricing is reasonable.

If they're doing bookkeeping or detailed amortization schedules, then it is time consuming work and is not only costly, but could save you money.

If they are just taking the numbers you give them and plugging them into the correct form and mailing to the IRS, then that seems very steep.

There are many knowledgeable CPA's on this site that work with clients remotely, I'd suggest reaching out to a couple of them as well as a couple more non-BP CPA's with RE experience and see what clicks.  Shopping for a CPA is sort of like shopping for any contractor...some are great, some are terrible and if you don't take the time to understand what you want them to do and get several quotes, then it's not difficult to get taken advantage of.

If the CPA you contacted is part of a large firm with high overhead costs, or they don't really want new business, then they may have quoted you a high number just to see if it would stick and not really caring whether they get your business or not.