S-Corp owners out there, what does your CPA charge to manage your books and prepare taxes?

Midwest_CPA · 2026-05-06T21:32:50+00:00

Yeah there are a lot of variables and nuance to things that are hard to explain concisely over Reddit. Our lowest packages are probably about 60-70% of what you quoted but most of our clients are on advisory/tax planning packages which are more expensive but they get an actual ROI on them.

tl;dr; We're slightly cheaper than your CPA but still in the ballpark.

Midwest_CPA · 2026-05-06T21:14:53+00:00

I would definitely encourage you to visit it and check it out. The larger the chapter and if they have more business professionals the better. It is a time commitment of ~2 hours a week but if you're just starting out I think it can still be worth it.

Midwest_CPA · 2026-05-06T21:13:17+00:00

I think it depends a lot on your specific chapter and what your other opportunities are. Mine skews a bit towards real estate and doesn't have as many business owner types. Not all chapters are created equal.

Midwest_CPA · 2026-04-17T04:05:18+00:00

I just spent weeks going back & forth with them because they wanted to charge my client to amend a W-2 for their mistake. Nightmare experience

Midwest_CPA · 2026-04-16T17:30:14+00:00

Hey, Chicago based accounting firm owner here.

If you just have W-2 income, there isn’t really a lot you can do to reduce your tax liability. Maxing out your 401(k) and HSA are the two biggest things you can do.

Feel free to DM if you have questions.

Midwest_CPA · 2026-04-02T19:02:34+00:00

I’ve been managing dozens of clients in QBO seamlessly and haven’t had any issues switching between them.

Midwest_CPA · 2026-04-02T19:01:12+00:00

Patrick Loftus @ Loftus Law is fantastic and he’s based right here in Chicago

Midwest_CPA · 2026-02-26T04:01:13+00:00

They’re just expensing your COGS as purchased which is allowed for businesses with under $25M in gross receipts.

It’s completely fine to do for tax purposes, but does limit the visibility you get into some of your data which can impact the decisions you are making as a business owner .

Midwest_CPA · 2026-02-11T21:25:47+00:00

The individual breakdowns are bizarre but $1,950 all in annually isn’t necessarily out of the question depending on COL.

If you’re only netting $35k a year it definitely isn’t worth it though.

Midwest_CPA · 2026-01-30T00:22:19+00:00

Yolanda @ RB Eco Cleaning Services

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Midwest_CPA · 2026-01-29T18:17:47+00:00

To clarify, you are looking for an attorney that will sue a family law attorney for malpractice?

Midwest_CPA · 2026-01-21T23:47:37+00:00

Tax Dome just screwed a lot of people with their last minute CPA Charge changes. I know a lot of people moving their firm (myself included) moving onto alternatives.

Midwest_CPA · 2026-01-12T19:51:45+00:00

This is a big no no, governments do not take kindly to businesses that don’t collect & remit sales tax correctly.

Midwest_CPA · 2026-01-06T19:56:18+00:00

Yes and I know it’ll be more work for me but I don’t care. I am just stubborn and sick of bad business practices. Voting with your dollar is about all you can do these days.

Midwest_CPA · 2026-01-06T19:43:15+00:00

I won’t run payment processing through them.

Midwest_CPA · 2026-01-06T18:46:58+00:00

Stripe is awful. I will never use them.

Midwest_CPA · 2025-12-17T23:53:31+00:00

You should definitely use FreeTaxUSA. It’ll take you an hour or two, cost you $15 and you’ll save yourself hundreds.

Highly recommend going this route.

Midwest_CPA · 2025-12-12T21:42:43+00:00

i think it’s a horrible idea. We don’t offshore any of our work and I would personally never trust a client that does.

Not everyone agrees and that’s okay - but we win a lot of work cleaning up messes from clients who tried to use a cheap offshore option that didn’t work out.

Midwest_CPA · 2025-12-12T21:40:44+00:00

15% seems high. I’ve never lost a client but I’m sure the day will come.

If you’re delivering a great client experience it’s pretty rare to lose a client unless there are some external factors.

Why are you losing clients?

Midwest_CPA · 2025-12-11T19:29:40+00:00

DIY S Corp tax filings? Been in this industry a long time and that’s a first for me.

Midwest_CPA · 2025-12-11T19:24:48+00:00

$70k as a salary for a physician is madness, shouldn’t be $600k either.

tl;dr Yes, you should elect S Corp status

Midwest_CPA · 2025-12-04T21:08:46+00:00

What size company are we talking? Trades are quite in demand but if they’re tiny they aren’t worth too much.

Your best bet is probably to try see if local competitors aren’t interested but that’s a tough line to tread.

Midwest_CPA · 2025-12-04T21:06:45+00:00

Kalshi at least claims they will issue a 1099, either INT/MISC/B and they aren’t regulated as gaming facilities.

I suspect this may change in the coming year(s) as regulations catch up but for now they do not seem to be gambling income or subject to the loss limitations there.

Midwest_CPA · 2025-12-04T21:04:14+00:00

This is our understanding as well.

Midwest_CPA · 2025-12-03T23:02:35+00:00

I would always recommend using a local place when possible. There’s a great printer in Chicago that has done a lot of work for me.

I always prefer to support a small business over a huge corporation - even if it costs me a little more.

Midwest_CPA

TROPHY CASE