Preparer Transition Fees
Changing CPAs?
Without proper planning, a transition year can cost more than usual if there are pre-existing circumstances that need attention.
For example, prior year-end accounting discrepancies or shareholder basis issues can incur one-time only costs.
Other items that can make a transition year more expensive would be:
- numerous depreciable assets
- several business or rental ventures
- tax items that are unusual or isolated
As a courtesy to new clients, I will typically ‘absorb’ the additional hours it takes me to complete transition year details for them.
Furthermore, while never a certainty, subsequent year returns typically take just about 2 hours each or $300 since all the “heavy lifting” was performed the year before.
So if you are considering a change, give me a call. We can look at your advantages in making the move and also develop a clear sense of any transition issues.
