How Much Does It Cost For A Small Business Accountant?
The baseline price for a hired accountant in the United States is between $100 and $400 per hour. That’s just a ballpark figure for anybody picking a Certified Public Accountant out of the phone book. But there are many other ways to answer this question, and of course, the price will vary depending on needs. The average CPA (according to the AICPA) earns a salary around $120/year, with fresh graduates making just $66K/year. This figure is mostly for CPAs working at a firm or in-house.
If all you need is some basic bookkeeping, that only runs $30-$50 per hour. On the other hand, a typical small business does not need to hire an accountant year-round. A business with five to ten employees might get by with a QuickBooks account, and consult with an accountant a couple of times per year, making their accounting budget come in less than $500 annually.
For most start-up small businesses, a couple of consultation hours will suffice, just to go over business structure and tax filing. Later, you will want quarterly and annual financial statements, which will typically be generated by software, and you can consult with the CPA to interpret them and advise you on financial strategies going forward.
An accountant does much more than just churn numbers. They can also help advise you on a number of points, such as cost-benefit analysis, risk assessment, tax efficiency, business structure, budgeting, inventory strategies, and pricing. Their job doesn’t stop at managing your money and assets; they can actually save you money as well. While you may not need to budget as much for accounting as you originally thought, it’s also good not to under-appreciate the importance of a good accountant.
How Much Does It Cost For A Small Business Accountant? The baseline price for a hired accountant in the United States is between $100 and