Do any Accountants offer a retainer sort of arrangement

Tax, SDIRAs & Cost Segregation
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Do any Accountants offer a retainer sort of arrangement

David V.
Fernandina Beach, FL · Member since 2014 · 46 posts · 8 votes

I currently do my own bookkeeping and taxes (for five rentals) and am generally comfortable doing so.  However, what I need from time to time are answers to tax related questions that come up.  I currently have an attorney on retainer that i may email a few times a year to get answers to legal questions I have.  Do any of you such services? 

Regards

Dave

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  • Eamonn McElroy
    Accountant · Atlanta, GA · Member since 2015 · 1k+ posts · 1k+ votes
    6y

    Each firm will be different.

    Some will do hourly consulting for anyone and everyone.

    My firm doesn't provide consulting services unless we also handle the compliance side.  There's just too much synergy and involved to not do both.  A lot of planning strategy ideas pop up as the tax return is prepared.  Conversely, any strategy we consult on and decide to implement is quickly and efficiently handled if we prepare the returns.  And, this is really the way it should be done to maximize efficiency for everyone involved, the client, the firm, etc.

    Best of luck.

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  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    6y

    @David V.

    As Eamonn mentioned, each firm is different.

    My firm is also like Eamonn's - We do not provide consulting advice if we also do not do the return. 
    Doing the return on an annual basis - we get to see how much money they make, what types of income they generate, the expenses they claim, what states they file in, how old they are, know how much they are putting away in retirement, etc - it is easier this way to provide tailor suited advice to this person.

    It is more difficult to give advice while not doing theyre return because you have to ask many questions to get to know the person. It is a one time payment and just not worth it in my opinion for my firm.

    With that said - you should be able to find a firm where you can provide them a copy of your prior year return, answer some questions and they should be able to give you some tailor suited advice.

    If the question is generic - you may be able to ask the question here in biggerpockets.

    [email protected]917-280-8544
    Basit Siddiqi CPA4.979 Reviews
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