Income and Fees Survey Income and Fees Questionnaire GENERAL INFORMATION1. Please tell us the type of practice entity you have:Sole proprietorPartnershipC Corporation (Limited liability company)Partnership (Limited liability company)S Corporation (Limited liability company)Disregarded Entity (Limited liability company)Professional corporationS CorporationC Corporation2. Please tell us all the credentials currently available from the people working in your office: Enrolled Agent Certified Public Accountant Registered/Licensed Public Accountant or Accounting Practitioner Accredited Business Advisor/Accountant Accredited Tax Advisor Accredited Tax Preparer Unlicensed Practitioner Annual Filing Season Program – Record of Completion Certified Financial Planner Registered Investment Advisor Accredited Retirement Advisor/Elder Care Specialist Certified Senior Advisor Other If other(SPECIFY): Personnel and Staff3. How many individuals does your practice entity employ? Please include yourself.3. a. How many principles/partners do you have? (These include active partners, partners who only provide financing or non-accounting/tax services, or other people who possess equity in the organization.)Full time activePart time activeNon-Accounting/Tax Partners/Principles3. b. How many Accounting/Tax Staff do you have, including the Principles/Partners above?Full time activePart time activeNon-Accounting/Tax Partners/Principles3. c. How many support staff to do you have?Full time activePart time activeNon-Accounting/Tax Partners/Principles4. How many Accounting and/or Tax Associations/Societies/Groups do you belong to?Please enter a number greater than or equal to 0.5. How many years have you been in practice at all the firms you worked in? (Please round up.)Please enter a number greater than or equal to 0.6. In what state (including the District of Columbia) is your practice located?7. What is the median household income for clients of your practice? Under $25,000 $25,000-$34,999 $35,000-$49,999 $50,000-$74,999 $75,000-$99,999 $100,000-$149,999 $150,000-$199,999 $200,000 and over 8. What is the size of the community in which you practiceLarge city/suburb (500,000+ population)Moderate city/suburb (50,000-499,999 pop.)Small city/town (< 50,000 pop.)Rural/unincorporated area INCOME & FEE INFORMATION9. Please indicate below your firm’s current minimum, average, and hourly fees for the following Federal and State returns:Forms: 9. a. Form 706 (Estates)Minimum FeeAverage FeeHourly Fee9. b. Form 709 (Gift Tax)Minimum FeeAverage FeeHourly Fee9. c. Form 940 (Federal Unemployment)Minimum FeeAverage FeeHourly Fee9. d. Form 941 (Employer’s Quarterly Return)Minimum FeeAverage FeeHourly Fee9. e. Form 943 (Employer’s Quarterly for Farms)Minimum FeeAverage FeeHourly Fee9. f. Form 990 (Exempt Organization)Minimum FeeAverage FeeHourly Fee9. g. Form 1040 (Itemized-Schedule A & State Return)Minimum FeeAverage FeeHourly Fee9. h. Form 1040 (Not Itemized & State Return)Minimum FeeAverage FeeHourly Fee9. i. Form 1041 (Fiduciary)Minimum FeeAverage FeeHourly Fee9. j. Form 1065 (Partnership)Minimum FeeAverage FeeHourly Fee9. k. Form 1120 (Corporation)Minimum FeeAverage FeeHourly Fee9. l. Form 1120S (S Corp.)Minimum FeeAverage FeeHourly FeeSchedules: 9. m. Schedule B (Interest and Ordinary Dividends)Minimum FeeAverage FeeHourly Fee9. n. Schedule C (Business)Minimum FeeAverage FeeHourly Fee9. o. Schedule D/Form 8949 (Gains & Losses)Minimum FeeAverage FeeHourly Fee9. p. Schedule E (Rental)Minimum FeeAverage FeeHourly Fee9. q. Schedule EIC (Earned Income Credit)Minimum FeeAverage FeeHourly Fee9. r. Schedule F (Farm)Minimum FeeAverage FeeHourly Fee9. s. Schedule H (Household Employment Taxes)Minimum FeeAverage FeeHourly Fee9. t. Schedule SE (Self Employment Tax)Minimum FeeAverage FeeHourly Fee10. Do you charge your clients an additional fee to prepare the following? If yes, what additional amount do you charge?10. a. W-2s(Required) Yes No What additional amount do you charge?Please enter a number greater than or equal to 0.10. b. 1099s(Required) Yes No What additional amount do you charge?Please enter a number greater than or equal to 0.10. c. File extensions(Required) Yes No What additional amount do you charge?Please enter a number greater than or equal to 0.10. d. Expedite their return(Required) Yes No What additional amount do you charge?Please enter a number greater than or equal to 0.10. e. If they bring in disorganized/incomplete files(Required) Yes No What additional amount do you charge?Please enter a number greater than or equal to 0.11. a. Do you charge your clients an additional fee if you receive their tax information after a set deadline?(Required) Yes No 11. b. If yes, what additional amount do you charge?11. c. If yes, how many days in advance of the tax deadline is your deadline(days)?12. Under what circumstances do you charge your clients for IRS letter/audit responses?(Required) When I did not prepare their return When I prepare the return, but am not at fault I always charge for IRS response letters I never charge for IRS Response letters Other If Other(SPECIFY) If yes, what amount do you charge?Please enter a number greater than or equal to 0.13. a. Do you charge your clients a separate fee to represent them in the event of an in-person IRS audit that does not appear to be due to any negligence on the part of your practice?(Required) Yes No 13. b. If yes, what is your firm’s hourly fee, minimum-fixed fee, or retainer (whichever is applicable) to represent them?(Required)Hourly feeMinimum-fixed feeRetainer14. Over the past year, in your practice, has the number of tax audits:(Required) Increased Stayed the same Decreased 15. Do you charge retainers for the following and, if so, how much do you charge?15. a. Tax preparation for non-current year Charge Retainer Total AmountPlease enter a number greater than or equal to 0.15. b. unting services for non-current year Charge Retainer Total AmountPlease enter a number greater than or equal to 0.15. c. IRS audits Charge Retainer Total AmountPlease enter a number greater than or equal to 0.15. d. Offers in compromise Charge Retainer Total AmountPlease enter a number greater than or equal to 0.15. e. Working with client’s in other states or countries Charge Retainer Total AmountPlease enter a number greater than or equal to 0.15. f. Other Charge Retainer Total AmountPlease enter a number greater than or equal to 0.If other(SPECIFY): 16. Please indicate how often you increase fees:16. a. Tax preparation(Required) Quarterly Semi-Annually Annually Every Other Year Other 16. b. Accounting services(Required) Quarterly Semi-Annually Annually Every Other Year Other 16. c. Payroll(Required) Quarterly Semi-Annually Annually Every Other Year Other 16. d. Bookkeeping services(Required) Quarterly Semi-Annually Annually Every Other Year Other 16. e. Other services Quarterly Semi-Annually Annually Every Other Year Other 16. f. If checked other, please explain: 17. How much did you increase your fees in 2020, and how much do you anticipate increasing them in 2021?17. a. Tax preparation(Required)Increased fees in 2020 %Anticipate increasing fees in 2021 %(enter zero if no increase)17. b. Accounting services(Required)Increased fees in 2020 %Anticipate increasing fees in 2021 %(enter zero if no increase)17. c. Payroll(Required)Increased fees in 2020 %Anticipate increasing fees in 2021 %(enter zero if no increase)17. d. Bookkeeping services(Required)Increased fees in 2020 %Anticipate increasing fees in 2021 %(enter zero if no increase)17. e. Other services(Required)Increased fees in 2020 %Anticipate increasing fees in 2021 %(enter zero if no increase)18. How do you bill for the following services?18. a. Tax preparation(Required) Fixed Fee Hourly Rates Fixed and Hourly By Form Other 18. b. Accounting services(Required) Fixed Fee Hourly Rates Fixed and Hourly Other 18. c. Payroll(Required) Fixed Fee Hourly Rates Fixed and Hourly Other 18. d. Bookkeeping services(Required) Fixed Fee Hourly Rates Fixed and Hourly Other 18. e. Other services Fixed Fee Hourly Rates Fixed and Hourly Other 18. f. If checked other billing method, please explain: 19. What is your firm’s average hourly or fixed monthly fee for performing the following services and what percent of your firm’s annual income is derived from each:19. a. Full payroll services (include payroll reporting)Average Hourly FeeAverage Fixed Monthly Fee% Gross Income19. b. After-fact payroll servicesAverage Hourly FeeAverage Fixed Monthly Fee% Gross Income19. c. Federal/state tax return (preparation only)Average Hourly FeeAverage Fixed Monthly Fee% Gross Income19. d. Tax services (tax planning, consultation, IRS representation)Average Hourly FeeAverage Fixed Monthly Fee% Gross Income19. e. Estate/financial planning (not to include tax form prep.)Average Hourly FeeAverage Fixed Monthly Fee% Gross Income19. f. Write-up work (providing bookkeeping services, i.e. journals, ledgers, {exclude payroll}, and preparation of periodic financial statements for these clients)Average Hourly FeeAverage Fixed Monthly Fee% Gross Income19. g. Financial statement presentation (Clients have a bookkeeper on-site and the accounting practitioner begins service from a pre-adjusted trial balance; includes compilation and review reports)Average Hourly FeeAverage Fixed Monthly Fee% Gross Income19. h. Audit (Audits of financial statements)Average Hourly FeeAverage Fixed Monthly Fee% Gross Income19. i. Management advisory services (business planning, computer system design, data processing, budgeting, financial analysis, pension planning, part-time CEO)Average Hourly FeeAverage Fixed Monthly Fee% Gross Income19. j. QuickBooks or Bookkeeping Advisory Services (including preparing and paying client invoices)Average Hourly FeeAverage Fixed Monthly Fee% Gross Income19. k. Financial services (Sales of investment company products, variable contracts, and insurance)Average Hourly FeeAverage Fixed Monthly Fee% Gross Income19. l. Elder Care ServicesAverage Hourly FeeAverage Fixed Monthly Fee% Gross Income19. m. Offers in CompromiseAverage Hourly FeeAverage Fixed Monthly Fee% Gross Income20. a. Indicate the GROSS incomes of your firm for calendar year 2019, and estimated for calendar year 2020:Actual 2019Estimated 202020. b. Indicate the Net* incomes of your firm for calendar year 2019, and estimated for calendar year 2020:Actual 2019Estimated 2020*including owner’s salary21. Indicate what percent of your firm’s total income was billed on the following bases for calendar year 2019, and estimated for calendar year 2020: (EACH COLUMN SHOULD ADD UP TO 100%)21. a. By FormActual 2019 %Estimated 2020 %21. b. HourlyActual 2019 %Estimated 2020 %21. c. Fixed FeeActual 2019 %Estimated 2020 %21. d. OtherActual 2019 %Estimated 2020 %Total Actual %Total Estimated 2020 %22. What percent of your firm’s gross billings do you have to typically write-off each year(%)?(Required)Please enter a number greater than or equal to 0.SALARY/COMPENSATION FULL-TIME23. What are the current salary levels and additional compensation for the following Full-Time positions? (If there is more than one person in the position, please provide the average salary)23. a. Principal/PartnerAverage Hourly Wage (As of July 1, 2020)Highest Hourly Wage (As of July 1, 2020)23. b. Practitioners–Accounting & Tax Licensed /CredentialedAverage Hourly Wage (As of July 1, 2020)Highest Hourly Wage (As of July 1, 2020)23. c. Practitioners–Accounting & Tax Not Licensed / Not CredentialedAverage Hourly Wage (As of July 1, 2020)Highest Hourly Wage (As of July 1, 2020)23. d. Other Support StaffAverage Hourly Wage (As of July 1, 2020)Highest Hourly Wage (As of July 1, 2020)23. e. BookkeeperAverage Hourly Wage (As of July 1, 2020)Highest Hourly Wage (As of July 1, 2020)WAGE/COMPENSATION SEASONAL/PART-TIME24. What are the current hourly wage levels for the following Seasonal/Part-Time positions? (If there is more than one person in the position, please provide the average wage)24. a. Practitioners– Accounting & Tax Licensed /CredentialedAverage Hourly Wage (As of July 1, 2020)Highest Hourly Wage (As of July 1, 2020)24. b. Practitioners– Accounting & Tax Not Licensed / Not CredentialedAverage Hourly Wage (As of July 1, 2020)Highest Hourly Wage (As of July 1, 2020)24. c. Other Support StaffAverage Hourly Wage (As of July 1, 2020)Highest Hourly Wage (As of July 1, 2020)24. d. BookkeeperAverage Hourly Wage (As of July 1, 2020)Highest Hourly Wage (As of July 1, 2020)FRINGE BENEFITS25. Please check the benefits offered by the practice:25. a. Health Insurance Principals/ Partners Benefit Offered Other Full-Time Employees Benefit Offered 25. b. Dental Insurance Principals/ Partners Benefit Offered Other Full-Time Employees Benefit Offered 25. c. Eye Care Program Principals/ Partners Benefit Offered Other Full-Time Employees Benefit Offered 25. d. Life Insurance Principals/ Partners Benefit Offered Other Full-Time Employees Benefit Offered 25. e. Disability Insurance Principals/ Partners Benefit Offered Other Full-Time Employees Benefit Offered 25. f. Retirement Plan Principals/ Partners Benefit Offered Other Full-Time Employees Benefit Offered 25. g. Professional Development Reimbursement Principals/ Partners Benefit Offered Other Full-Time Employees Benefit Offered 25. h. Child Care Principals/ Partners Benefit Offered Other Full-Time Employees Benefit Offered 25. i. Cafeteria Plan Principals/ Partners Benefit Offered Other Full-Time Employees Benefit Offered 26. a. Do you offer Flex Time Yes No 26. b. Do you offer Job Sharing Yes No 26. c. Do you offer Telecommuting Yes No DISPUTE RESOLUTION27. How often do you review problem clients? As they occur After tax season Once a year Never Other 28. a. Were you involved in any client disputes over the past year? Yes No 28. b. If an error that resulted in interest or penalty was totally or partially your fault, how much of the interest or penalty do you pay?28. b. a. Interest None All Some 28. b. b. Penalty None All Some 28. c. How many disputes were turned over to your E&O provider? None All Some N/A - do not have E&O insurance PRACTICE PROCEDURES30. Which of the following billing practices does your firm use?(Required) Percentage of payment due upon the signing of engagement letter Progress billing End-of-job billing Interest on past-due accounts Accept credit cards for payment Itemized charges for copies, faxes, delivery, phone, etc. Other If other (SPECIFY) 31. Do you use engagement letters for:(Required) Tax Accounting Other If other (SPECIFY) 32. a. Do you offer tax organizers for your clients? Yes No 32. b. If yes, do you offer the organizer to: Some clients Most clients All clients Only on request 32. c. If yes, do you require clients to complete the organizer? Yes No 33. How do you collect data from your clients to prepare tax returns "SHOULD ADD UP TO 100%"?33. a. Client sends or drops off organizer/documents(%)(Required)Please enter a number greater than or equal to 0.33. b. Client uploads organizer/documents using a secure file sharing program(%)(Required)Please enter a number greater than or equal to 0.33. c. Client comes into office for interview(%)(Required)Please enter a number greater than or equal to 0.33. d. Interview client via video conferencing(%)(Required)Please enter a number greater than or equal to 0.33. e. Client self-prepared documents(%)Please enter a number greater than or equal to 0.33. f. Other(%)Please enter a number greater than or equal to 0.If other (SPECIFY) TotalPRACTICE MARKETING & PROMOTION34. Do you use any of the following for marketing and promoting your practice and how useful are they?34. a. Referrals from existing clients/word of mouth Use How useful Referrals from existing clients/word of mouth are? Very Useful Useful Neutral Not Useful Not Useful At All 34. b. Website Use How useful Website are? Very Useful Useful Neutral Not Useful Not Useful At All 34. c. E-mail Marketing (Constant Contact, etc.) Use How useful E-mail Marketing (Constant Contact, etc.) are? Very Useful Useful Neutral Not Useful Not Useful At All 34. d. Signage Use How useful Signage is? Very Useful Useful Neutral Not Useful Not Useful At All 34. e. Yellow Pages ad Use How useful Yellow Pages ad is? Very Useful Useful Neutral Not Useful Not Useful At All 34. f. Client newsletters Use How useful Client newsletters are? Very Useful Useful Neutral Not Useful Not Useful At All 34. g. Chamber/networking meetings Use How useful Chamber/networking meetings are? Very Useful Useful Neutral Not Useful Not Useful At All 34. h. Social Media (LinkedIn, Facebook, Twitter, etc.) Use How useful Social Media (LinkedIn, Facebook, Twitter, etc.) are? Very Useful Useful Neutral Not Useful Not Useful At All 34. i. Offering referral fees Use How useful Offering referral fees are? Very Useful Useful Neutral Not Useful Not Useful At All 34. j. Speaking engagements Use How useful Speaking engagements are? Very Useful Useful Neutral Not Useful Not Useful At All 34. k. Local newspaper ads Use How useful Local newspaper ads are? Very Useful Useful Neutral Not Useful Not Useful At All 34. l. Direct Mail program Use How useful Direct Mail program are? Very Useful Useful Neutral Not Useful Not Useful At All 34. m. Radio/TV ads Use How useful Radio/TV ads are? Very Useful Useful Neutral Not Useful Not Useful At All 34. n. Articles in local news media Use How useful Articles in local news media are? Very Useful Useful Neutral Not Useful Not Useful At All 34. o. Yelp Use How useful Yelp is? Very Useful Useful Neutral Not Useful Not Useful At All 34. p. Sponsorships Use How useful Sponsorships are? Very Useful Useful Neutral Not Useful Not Useful At All 34. q. Church or other religious bulletins Use How useful Church or other religious bulletins are? Very Useful Useful Neutral Not Useful Not Useful At All 34. r. Other Use How useful Other is? Very Useful Useful Neutral Not Useful Not Useful At All If others(SPECIFY) 35. Which of the following social networking do you use for marketing and promoting your practice and how useful have they been?35. a. Facebook Use How useful Facebook is? Very Useful Useful Neutral Not Useful Not Useful At All 35. b. Instagram Use How useful Instagram is? Very Useful Useful Neutral Not Useful Not Useful At All 35. c. LinkedIn Use How useful LinkedIn is? Very Useful Useful Neutral Not Useful Not Useful At All 35. d. Twitter Use How useful Twitter is? Very Useful Useful Neutral Not Useful Not Useful At All 35. e. Blogs Use How useful Blogs are? Very Useful Useful Neutral Not Useful Not Useful At All 35. f. Other Use How useful Other is? Very Useful Useful Neutral Not Useful Not Useful At All If others(SPECIFY): TECHNOLOGY/IT & THE PAPERLESS OFFICE36. What percent of your total office is paperless(%)?Please enter a number greater than or equal to 0.37. Do you use online data backup/remote backup services? Yes No 38. Do you use remote access to view and work on clients’ applications on their desktops? Yes No 39. Do you use the cloud to host your applications? Yes No 40. Do you use the cloud to host your clients’ applications (i.e. QuickBooks)? Yes No 41. a. Do you use secure web portals/cloud platforms to share files with clients?(Required) Yes No 41. b. If yes, what platform (SPECIFY) 42. a. Do you use workflow and practice management software? Yes No 42. b. If yes, what platform (SPECIFY) 43. Do you have Cyber Liability Insurance? Yes No 44. How is the IT in your office handled? Staff person (full-time or part-time) Consultant Do it yourself 45. How do you use your website?(CHECK ALL THAT APPLY) Awareness Lead generation Industry news & alerts Blogging File sharing/uploading Other If other (SPECIFY): 46. How do you use social media?(CHECK ALL THAT APPLY) Awareness Lead generation Industry news & alerts Blogging Other If other (SPECIFY): OPERATING EXPENSES47. Please show each expense category as a percentage of your most recent fiscal year: "SHOULD ADD UP TO 100%"
