Accountants Hourly Rates wealthmanagement.com???

Viewing 12 posts - 1 through 12 (of 12 total)

rx2_73
Member
@rx2_73
Join Date: 2003
Post Count: 24
August 13, 2003 - 5:35 am
Hi,
Anyone had any dealings with WealthManagement.com.au as an accountant/tax advisor? If so I would be interested to here what hourly rates you were quoted. I was quoted an hourly rate of $220, after of course being asked my current salary, and how much money I am looking to invest.
Just wondering if the hourly rate is flat across the board, or depends on your current wealth Hopefully not based on the latter.
Whats the norm for hourly rates??
Cheers
Rob
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
August 13, 2003 - 5:59 am
That sounds reasonable I think. I’ve paid similar.
Terryw
[email protected]
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Stuart Wemyss
Member
@stuart-wemyss
Join Date: 2003
Post Count: 598
August 13, 2003 - 6:12 am
Hi Rob
To give you an idea.
Samll practice = $100 – $200
Medium practice = $200 – $350
Big 5 = $500+
I don’t think individuals would need to pay anymore than $250.
Cheers
Stu
Property & Finance News
at http://www.prosolution.com.au
KennyC
Member
@kennyc
Join Date: 2003
Post Count: 17
August 13, 2003 - 8:37 am
hi all!
Just a question on accounting fees:
How much would a trust tax return be per yr?
How much would a company tax return be per yr?
How much would a individual tax return be per yr?
This is considering that I am just starting out in property investing.
thanks
Sooshie
Member
@sooshie
Join Date: 2002
Post Count: 974
August 13, 2003 - 10:00 am
Hi there,
Sounds reasonable to me! I think you’d all groan if I told you our accountants fees…
I feel ill [] when I think of it…
Yet again, nowadays you pretty much get what you pay for. If my accountant does his job right, then he’ll be worth his weight in gold.
Cheers
Sooshie []
“small steps make the journey” (SAS)
kelly1100
Member
@kelly1100
Join Date: 2003
Post Count: 55
August 14, 2003 - 6:21 am
In answer to KennyC…”how long is a piece of string”. Accountants generally charge out their time in anything from 6-15 minute intervals at anything from $90/hour upwards.
The better your records the less it should cost you, provided of course that it all makes sense to your accountant. Often what is perfectly logical to you, makes absolutely no sense at all to anyone else.
If you provide you accountant with a shoe box (it does happen and in even bigger boxes than that) it will cost you for their time to sort it all out. So the more you do yourself and the more logical and easy it is to understand the less time it should take you accountant to do the job.
If in doubt ask for an estimate/quote and why not ask for references…a good accountant should be happy to provide you with the name of a client you can talk to I would imagine.
spider_2
Member
@spider_2
Join Date: 2003
Post Count: 79
August 14, 2003 - 11:42 am
Hi
Have you ever thought of interviewing potential accountants? Make a list of questions and then make appointments with a few accountants. Tell them that you are looking for a new accountant to whom you will take all your business. We spent an hour interviewing one this afternoon. Don’t forget that you are the client and you ultimately pay the bill!
[]
KennyC
Member
@kennyc
Join Date: 2003
Post Count: 17
August 14, 2003 - 11:58 am
hi spider!
yea i have done the same, i have interviewed 3 so far! there is one that is better than the others by far! However he is currently buying negatively geared property, so I think I need an accountant that has been through what I want to go through!
Thank you all for contributing!
ksheather
Member
@ksheather
Join Date: 2002
Post Count: 33
August 14, 2003 - 2:26 pm
Why do accountants earn so much money?? I am just as qualified as them, albeit in another field and I only pocket $75 an hour!?!
If theres wealth management going on, its probably theirs!
Fizman
Member
@fizman
Join Date: 2003
Post Count: 10
August 14, 2003 - 10:33 pm
Hi KennyC
We have just had our tax returns done for the last financial year. Our costs were as follows:
Trust Tax $440.00
Company $440.00
Personal $ 90.00
The company is a fairly small practice in Brisbane, but they provide good service.
Hope this helps.
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
August 15, 2003 - 2:56 am
Hey, watch out when interviewing accountants. A friend of mine did that and then a got a $200 bill in the mail. And she didn’t even know anything about trusts and just talked about negative gearing. My friend thought he would jsut talk to her about becoming his accountant! And she charged him!
Terryw
[email protected]
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
kelly1100
Member
@kelly1100
Join Date: 2003
Post Count: 55
August 15, 2003 - 5:32 am
I wish I was pocketing $75 an hour. I’m an accountant doing tax and asset protection. My charge out rate is $120 per hour but I don’t see that much come back to me in my pay packet!!!!!
I agree with TerryW – be careful “interviewing” accountants because some of them will bill you for their time. As I mentioned in my previous post, we charge our time out by the 6-15 minute interval and that includes time spent on the phone, reading your mail, reading your faxes, reading you emails and interviewing you for your whatever.
Unfortunately a lot of accountants take the “time is money” saying to the extreme.