One of the first things NYC business owners ask us is simply: what does this cost? It's a fair question, and the honest answer is “it depends” — but here are realistic ranges so you know what to expect.
Business Tax Return Preparation
For a small business, a federal and New York State return typically runs from a few hundred dollars for a very simple Schedule C up to $1,000–$2,500+ for a partnership or S-corp return with multiple schedules. Complexity — number of owners, states, and clean books — drives the price more than anything.
Bookkeeping
Monthly bookkeeping for a small business often ranges from $200 to $600+ per month depending on transaction volume and how many accounts need reconciling. Messy or behind books cost more to clean up the first time, then settle into a steady monthly rate.
Payroll, Sales Tax & Advisory
Payroll processing, NYC/NYS sales tax filings, and year-round tax planning are usually priced separately or bundled. The value of advisory often shows up not as a line item but as taxes you didn't overpay — an S-corp election, a missed deduction, or a smarter entity setup can save far more than the fee.
How to Know What You Actually Need
- If you just need a return filed correctly — pay for tax prep.
- If you're behind on books or losing track of cash — add bookkeeping.
- If you're growing or unsure you're structured right — that's where advisory pays for itself.
The Cheapest CPA Isn't Always the Cheapest
A bargain return that misses deductions or triggers a penalty costs far more than it saved. The goal isn't the lowest fee — it's the lowest total cost (fee + taxes + risk). At Li CPA Group, we'll tell you honestly what you need and what it'll cost — no upselling.