FEE STRUCTURE & BILLING POLICY
Fees are billed at our standard billing rate for professional services (standard rate) based on the time required to complete the assignment. The time billed is in quarter hour increments. All fees will be billed at our standard rate unless a “fixed fee” is agreed upon, in writing prior to beginning the assignment.
Standard Billing Rate for Professional Services is $240 per hour:
Fees will be billed for all meetings at our office and/or at the client’s place of business unless there is a verbal or written agreement prior to the meeting. This includes meetings to explain or clarify issues contained in tax returns that have been filed or a request to revise tax return after preparation (even if not filed). Fees will be billed for all amended tax returns unless the amendment is a result of an oversight on the part of Hoffmann + Hoffmann CPA’s LTD.
Generally, short telephone conversations and/or consulting will not generate billing. Telephone consultation of one quarter of an hour or longer, in duration, will result in billing for the total time of the telephone call and will be billed at our standard rate.
Fees will be billed for all correspondence with taxing authorities and other governmental agencies unless the correspondence is a result of an oversight on the part of Hoffmann + Hoffmann CPA’s LTD.
All income tax preparation will be billed at our standard rate [NOTE: There is a minimum fee of $240 for tax returns prepared via the office preparation method (tax return is prepared in the presence of the client). If the preparation time is less than one hour, fees will be $240. For tax returns prepared via the “drop-off” method (tax information is delivered to our office and client is not present during the preparation process) or “mail-in” method (tax information mailed to our office), billing will be based on the actual hours required.]
An initial meeting with a prospective client will not result in fees being billed unless research is required or computations and/or detailed analysis are required. Generally, a meeting to become acquainted with each other does not generate billing.
It is the philosophy and policy of Hoffmann + Hoffmann CPA’s LTD. to obtain a signed engagement letter for the following services:
- Compilation (Write-Up Service)
- Consulting Services (other than tax planning)
- Feasibility Studies
- Financial and Cash Flow Projections
- Accounting Services
Fees are due within twenty-five (25) days of the invoice date.
Hoffmann + Hoffmann CPA’s LTD. reserves the right to suspend services to any client who is delinquent in remitting fees billed. This includes tax preparation, even if this results in the tax return not being filed timely. The resulting penalties, for late filing, are the responsibility of the client.