The Giffin Company CPA | Orange County CA

The Giffin Company CPA

Fee Structure

Transparent Fee Structure

 

 

It is important to The Giffin Company CPA to be transparent and have a simple fee structure. In response to the pandemic, federal and state governments revised the role and character of tax and accounting professionals by quickly legislating prospective and retroactive tax laws. In addition, we expect additional changes are forthcoming with the Biden tax plan. Therefore, The Giffin Company CPA shifted to a variable (hourly) fee structure due to the challenges of providing a flat fee quote for services in a constantly changing climate.

Our fees are linked to the time to complete a project in accordance with the professional standards of the profession. Our time, combined with years of experience and developed expertise, is the most valuable commodity we can offer to our clients. Additionally, we pay increasing costs each year and provide our team members annual raises, so we are just like every other business that balances rising costs with fees. We can provide an estimate of the total fees that is subject to adjustment based on the final hours required for completion.

Individual Tax Preparation and Business Tax Preparation

Related to individual tax return services, we have expertise with all taxpayer types (employee, retirement, entrepreneur) and specialize in tax preparation and planning for individuals that own and operate small businesses.  On the business return side, our primary focus is business consultation, deduction optimization and maximizing tax efficiencies.  In addition to individual and business tax return preparation, the following services are subject to the corresponding fees.

  • Projections and estimated quarterly payment “true ups”
$350 per hour
  • Significant changes to preliminary return
$350 per hour
  • Research projects and consultation
$350 per hour
  • Coordination with client’s attorneys, financial advisors, etc.
$350 per hour
  • Tax representation and audit assistance
$350 per hour
  • Lender or “comfort letters”
$350 per hour
  • Substandard accounting records
$350 per hour
  • Interfacing with lenders/sending prior year tax returns
$350 per hour
qtq80-KkaZy5

Small Business Bookkeeping/Accounting Platform

The Giffin Company CPA provides specialized and professional services to small business owners.  A significant component of our overall menu is our Bookkeeping/Accounting Platform, which delivers services ranging from monthly bookkeeping to fractional controller to fractional CFO.  We use QuickBooks Online or Desktop as our primary accounting software as it provides an amazing, accessible and cost-effective approach to small business bookkeeping and financial reporting.  Our fractional controller services entail managing A/P and A/R either directly or with client staff, reconciling transactions from sources, adjusting journal entries and financial statement preparation.  Our fractional CFO services entail financial statement analysis, cash flow management and analysis, budgeting/forecasting, KPI/trend analysis and interfacing with lenders or equity partners/sources.

Our Small Business Bookkeeping Accounting Platform has been servicing our clients for several years and we know the best and most cost-effective solutions for our clients.  Therefore, we recommend utilizing a top tier payroll service provider, as we cannot compete with their service as well as fees, and we will record the service provider’s data in the client general ledger.  Additionally, due to the recent cases and rulings that have greatly expanded the complexity of sales tax issues and filings, we are no longer assisting clients with sales tax matters.  This area has evolved where a specific level of expertise is required and, therefore, we would happily recommend a specialist upon request.

Below is a summary fees and fee adjustments:

  • Minimum level monthly bookkeeping - import from 3 transaction sources, categorize to account, reconcile to sources, prepare financial statements
$90 per hour
  • Retroactive clean-up and reconcile
$90 per hour
  • QuickBooks set up and initial support (90 days)
$90 per hour
  • Fractional controller – monthly fee structure depends on a range factors, therefore, we will provide a tailored proposal to achieve a win/win outcome
$500 to $2,000
  • Financial statement analysis and comparison
$750 to $1,000
  • Cash flow management and analysis
$750 to $1,000
  • Budgeting/Forecasting
$750 to $1,000
  • KPI/trend analysis
$750 to $1,000
  • Interfacing with Lenders, Attorneys, Financial Planners
$500

Additional Services and Fees

  • Small Business Bookkeeping/Accounting Platform team member
$90 per hour
  • CPA/Partner
$350 per hour

Please keep in mind that we believe it is a privilege to be able to serve our clients.  Nothing makes us a happier than conducting tax planning or research or simply coming across a familiar fact pattern and telling a client that we can save them a meaningful amount.  We love to hear from a client that says they partially attribute their success to the fact they could focus on their business after handing the bookkeeping to us.  We are here to serve you.