1-800Accountant is one of several online accounting platforms designed to make life easier for small business owners. But, their reviews are so mixed. Here, we’ll delve into what you can expect versus the reality of their services.
Explore everything from their offerings to customer feedback, helping you make an informed decision about whether 1-800Accountant is the right fit for your business needs.
Here’s what’s in store
- What is 1-800Accountant?
- What Does 1-800Accountant Do?
- Frequently Asked Questions
- Conclusion: Is 1800Accountant Legit?
Now, let’s dive in!
What is 1-800Accountant?
1-800Accountant is an online accounting service powered by real Certified Public Accountants (CPAs) – They offer a range of services aimed at helping small businesses with various accounting needs.
Their services include assistance with:
- Starting a business
- Selecting the right entity for tax savings
- Handling business taxes to maximize refunds
- Simplifying payroll processes
- Managing day-to-day bookkeeping tasks
Their team of CPAs is knowledgeable about different industries and state regulations, so they provide tailored advice and solutions for businesses.
And, they offer a satisfaction guarantee. They allow you to request a refund within the first 30 days if they are not satisfied with the service provided.
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How Much Does 1-800Accountant Cost?
1-800Accountant operates on a flat-rate pricing model, which ensures transparent and predictable costs without hourly fees.
Prices range from $179-399 per month and up. Costs are billed annually, so you can expect to pay between $2,148 and $4,788 to sign up.
Here’s a breakdown of what you get for each price point:
- Business plan ($179/mo):
- Access to the online portal
- Dedicated accountant
- Year-round tax advice
- Proactive tax planning
- Quarterly reviews
- Financial planning
- Corporation plan ($239/mo):
- Everything in the Business plan, plus:
- Bookkeeping software
- Business tax preparation
- Personal tax preparation
- Enterprise plan ($399/mo):
- Everything in the Corporation plan, plus:
- Dedicated bookkeeper
- Priority support
- Financial reports
There’s also a Custom Package option available if you don’t find exactly what you need in the standard plans. And, prices can fluctuate based on your state.
While there is’t a free trial, you have 30 days to request a refund.
Comparatively, according to SmartAsset, you can expect to pay a CPA between $1K and $1.5K just to do your business and personal taxes in the U.S.. And, Forbes Advisor says you can expect to pay between $150 and $250 per hour to hire a CPA, depending on your location. Personally, I’ve seen rates as low as $37 and as high as $500 per hour being charged.
Hiring a CPA is one of those gray areas in business where you can’t really predict expected costs until you get into it (which makes the flat-rate pricing model pretty appealing).
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Company Overview
It’s particularly important to know about the company behind the brands you work with when your business finances are at play.
1-800Accountant, aka 1-800-Accountant.com Corp, is a New York-based business that was founded in 1999 by Mike Savage. Savage is currently the Chairman of the Executive Board. The same year 1-800Accountant was launched, Savage became a CPA. And, he apparently graduated from Brigham Young University with a Bachelor’s degree in Accounting.
Currently, the Key Principal of the company is Michael Rosedale. Like Savage, Rosedale is also listed as the Chairman on the company’s Dun & Bradstreet profile. But, Rosedale doesn’t list his affiliation with the company on LinkedIn.
However, Rosedale does show-off some pretty impressive accounting credentials. He’s the current Chairman & Co-Founder of NARSSA, President & Founder of CPAdirectory, and previous President of the National Directory of Registered Tax Return Preparers and Professionals.
1-800Accountant’s address is listed as a Regus office in Manhattan at 260 Madison Avenue, Suite 1001. Regus is a coworking space, which tells me the team is either particularly small or primarily remote – 404 Glassdoor votes signal that it’s the latter.
In fact, 75% of employees would recommend a job with the company to a friend, and it has an overall 4-star internal rating.
Despite their 3.75-star rating and 130 complaints closed in the last year, they maintain an A- rating with the Better Business Bureau (BBB).
Of course, when it comes to finances, people are more likely to speak out about a poor experience than they are a positive one.
Overall, Trustpilot reviewers are nicer, giving the platform an overall rating of 4.6 stars. But, not all of the feedback is great. Some customers claim rights violations, and others say they were stood up for meetings.
Normally, with this much info, I would try to wrap up the company section, but there’s more to say. Redditors have shared their complaints from mishandled taxes to poor quality advice and more – customer service tends to be a common topic of grievance.
However, keep in mind, they’ve had positive feedback as well (head over to Trustpilot to see the full array). I don’t know if there was a period where positive reviews were incentivised, or if it presents a better unbiased sample of experiences.
What I do know is that in 2013 – which was over a decade ago – the FTC filed a complaint for permanent injunction in Florida and New York. This complaint alleged that 1-800Accountant and other remote tax services were in violation of several federal regulations.
Ideally, the wrongs would have been remedied by now, which I assume is the case since several of the companies are still in business.
So, on the bright side, the company is still in business, registered, and active in the state of New York. There are no open legal grievances currently. And, the original founder is still with the company.
On the other hand, I came across a lot of complaints.
But, let’s find out what exactly 1-800Accountant offers so that you know for sure whether you want to give them a shot!
What Does 1-800Accountant Do?
Now, let’s explore the full offer from 1-800 Accountant so you can see if you can make it worth your while to sign up. If you don’t need all of the services, it’s feasible that you could save money by going a different route. But, if you’re likely to utilize all or most of the services, the platform could provide major cost and time savings.
1. Start Your Business
1-800Accountant assists in setting up your business as either an LLC or Corporation – They offer a straightforward and efficient process for entity formation, to guide you through the necessary steps with expertise.
They say that this can potentially result in significant cost savings over time. The reason this is true is because if you file appropriately, you can maximize your tax savings at the end of the year.
They often have special offers available for starting at a low cost or $0 plus state fees. Additionally, they handle the filing of your business license directly with the Secretary of State, ensuring compliance with state regulations.
Overall, 1-800Accountant simplifies the process of filing your business and offers assistance to navigate the complexities of entity formation.
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2. File Your EIN
For $99, 1-800Accountant will file for your employer identification number (EIN) through the Internal Revenue Service (IRS). You need this to get a business bank account, file business taxes, and get business financing.
Many companies charge a hefty fee for this service, but it’s super easy to do yourself. Instead of paying a fee, you can just visit the IRS website and apply with your business info. An EIN is free.
If you need them, you can find EIN filing instructions here.
The only common hurdle that I know of is that you need to file during weekday business hours. So, just check in on Monday through Friday between 9:00 to 5:00, and you should be able to get this situated quickly. Otherwise, the application may be offline.
If you want the EIN filing service and you’re willing to pay almost $100 (which actually seems to be the going rate), then cool. But, I don’t see why you would need to.
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3. Year-Round Tax Advisory
1-800Accountant provides affordable and comprehensive tax advisory services for small businesses. Their expert CPAs offer year-round support to maximize tax refunds and minimize liabilities.
The process includes year-round:
- Tax preparation
- Organization
- Submission
- Iterative review
- Approval
- Secure storage of completed returns
You’ll get matched with a dedicated tax planner who will provide strategic advice tailored to your business needs. And, they’re supposed to be there for this anytime you need it.
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4. Tax Audit Defense
On top of everything else, 1-800Accountant provides tax audit defense services for small businesses; this can ensure peace of mind and protection during IRS audits.
If you’re an active member, their certified Enrolled Agents (EAs) and CPAs handle all aspects of the audit process, from preparation to representation.
They can protect your rights and offer state-level expertise. With their support, you can navigate audits more confidently, knowing your interests are safeguarded and your tax matters are in capable hands (without any hourly fees).
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5. Quarterly Small Business Taxes
1-800Accountant offers a Quarterly Estimated Tax Service to help you navigate federal estimated tax payments. They provide year-round tax advisory support, calculating IRS quarterly payments to avoid underpayment penalties and interest.
Additionally, they try to identify opportunities for tax deductions often overlooked by “generic firms.” They offer clear payment deadlines and try to create a stress-free process. This can make quarterly taxes easier and allow you to focus on growing your business.
Their small business experts specialize in various industries across all 50 states. If you’re unsure about quarterly tax requirements or calculations, their professionals can guide you through the process.
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6. Personal Income Tax Preparation
You can also leverage 1-800Accountant for personal income tax preparation. With a membership, they can ensure that you maximize your tax returns with “guaranteed accuracy.” Their expert tax accountants handle even complex situations. And, they promise to file returns promptly and transparently with no hidden charges.
With convenient document upload via their app or portal and bank-level security, it could be a super convenient way to file. Certified income tax experts are available in every state for quick assistance, and year-round support is offered for personal or business tax needs.
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7. Payroll & Bookkeeping
Finally, 1-800Accountant offers comprehensive bookkeeping and payroll Services tailored to small businesses.
For bookkeeping, their certified US-based accountants handle the tedious back-office work, accurately categorizing transactions and reconciling accounts. This could give you the freedom to focus on your business while receiving accurate, detailed reports and enjoying game-changing features like automation. Transparent pricing, dedicated bookkeepers, and secure online portals ensure efficiency and peace of mind.
Their payroll services are quick, easy, and affordable, powered by experts. With just a few clicks, you can pay your employees and ensure accuracy and compliance. Automatic payroll tax filings, state ID registration, and transparent pricing further streamline the process. Experienced professionals provide support and guidance, allowing you to spend less time on payroll and more on your business.
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Frequently Asked Questions
Can you get a refund from 1-800Accountant?
1-800Accountant offers a satisfaction guarantee for their services. If you’re not satisfied within 30 days of using their services, you can request a refund of the remaining balance of your purchase.
How do I cancel my 1-800Accountant subscription?
To cancel your 1-800Accountant subscription, you’ll need to reach out to their customer support team. They can assist you with the cancellation process and any related questions you may have.
Does 1-800Accountant have an app?
Yes, 1-800Accountant offers an app for convenient access to their services. You can download the app to upload documents, monitor progress, and communicate with their team. But, the mobile app isn’t very well rated.
What software does 1-800Accountant use?
1-800Accountant claims to be accustomed to working with any existing bookkeeping system you may be using. They also offer their own bookkeeping software for online bookkeeping services for small businesses.
Conclusion: Is 1800Accountant Legit?
1800Accountant is a legitimate, registered business in good standing with the state of New York. They operate across the U.S. and provide a robust offer for small businesses. While they don’t have 100% raving customer reviews, they could be a good solution.
Look at your budget, your needs, and explore all of your options before you commit to any CPA or business financial service. Ask around to see who your colleagues use, and check out online forums to find out what offer might be best for you.
Don’t rule out local CPAs, especially if you’d prefer in-person meetings – you won’t get any in-person meetings with a remote service, and this is important for some business owners.
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