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Accounting Costs in Massachusetts: A Comprehensive Guide
Navigating the landscape of accounting expenses in Massachusetts? Our latest data sheds light on what you can expect to pay for professional accounting and CPA services across the state. Remember, the figures presented are averages; the actual cost you incur may vary.
Overview of Accounting Costs in Massachusetts
Our state-wide data collection effort offers insight into the average costs associated with accounting services in Massachusetts. Whether for business or personal needs, understanding these costs can help you budget effectively for professional accounting support.
Business Accounting & CPA Services
For businesses seeking accounting or CPA services in Massachusetts, hourly rates typically range between $130 and $230. This variance accounts for the complexity and scope of the services required.
Personal Accounting & CPA Services
Individuals requiring CPA services for personal tax preparation in Massachusetts can expect costs to fall between $230 and $310. These rates reflect the detailed nature of personal tax preparation and the expertise required to navigate it efficiently.
Detailed Findings on CPA Costs
Our research further breaks down accounting costs within specific Massachusetts locales, offering a closer look at the variations across different cities:
Personal Accounting Costs: In cities like Pittsfield, Newton, and Cambridge, personal tax preparation services are priced as a fixed fee ranging from $240 to $300.
Bookkeeping Services: For those in Waltham, Quincy, and Lowell, hourly rates for bookkeeping services hover between $58 and $69.
Business Accounting Costs: Businesses in Pittsfield, Quincy, Cambridge, and Lowell can anticipate hourly accounting rates to be between $140 and $220.
This comprehensive cost report, updated as of February 6, 2024, by ProMatcher, aims to equip Massachusetts residents and businesses with the information needed to make informed decisions regarding their accounting and CPA service needs.
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Case study
Client:
Artistic non-profit
Industry:
Cultural arts
Services:
Nonprofit bookkeeping, budgeting, and loans
Solution:
Payroll Protection Plan loan secured in the first round
Should I consider outsourced bookkeeping
MatchBooks provides virtual bookkeeping and business consulting services to small businesses and non-profits. Our clients benefit from our services because they receive affordable, professional advice and are guided by CPA controllers who specialize in your business.
You know your business and we are a local Cape Cod company that knows bookkeeping and business consulting. We will save you time and using our service will allow you to spend more time doing what you set out to do to grow your business. Having high-quality financials and knowing where you stand on a monthly and quarterly basis gives you confidence when adding staff or inventory.
Our business and non-profit consultants can help you achieve your goals. Your professional advisor can provide an independent opinion and recommend solutions to help grow. This could include adding a new product line or division, streamlining operations, reviewing financials, identifying problems, and change management.
- Team bookkeeping services
- Financial and cash flow statements
- Year-end tax ready financials
- Custom chart of accounts
- Catch-up bookkeeping
- Specializing in non-profit bookkeeping
- Family bookkeeping
- Management consulting
- CFO services
- Controller services
- Business strategy
- Vendor referrals and review
Elder abuse and fraud
Elder financial abuse, exploitation, and elder fraud is one of the largest growing threats in the lives of Seniors. Seniors are tempting targets, and many of the elderly have significant savings and wealth. A generation brought up to be polite and taught to be trusting are people that make easy prey. Add in mild cognitive impairment, neurodegenerative conditions, Parkinson’s disease, dementia or Alzheimer’s disease, and Seniors become even more susceptible to swindling, fraud, exploitation, and elder financial abuse. There are many resources available to help elderly victims of investment fraud and financial exploitation when they become victims, but not very much information on how to prevent it in the first place!
A recent American Bar Association survey stated that 9 out of 10 attorneys believe that elder investment fraud and financial exploitation is a serious problem. One study estimates that 20% of older Americans have been victimized by investment fraud and financial exploitation. Another study from MetLife Mature Market Institute states that 51% of all instances of financial abuse of the elderly are crimes committed by strangers, and 34% are committed by family, friends or acquaintances.
Retaining a insured, experienced, bookkeeping firm to professionally handle your or your loved ones assets is the smart choice to prevent financial fraud and insure accountability. MatchBooks is available for consultation and to answer your questions and address your concnerns.
Common concerns
Ask questions to determine whether the Senior, parent or patient, is struggling with any of the following common concerns:
- Trouble paying bills because the bills are confusing to them
- Lack of confidence in making big financial decisions alone
- Lack of understanding about financial decisions that someone else is making for them
- Loans or gifts given that are more than they can afford; they inexplicably run out of money at the end of the month
- Adult children or others are pressuring them for money
- People are mailing or emailing and asking for money
- Someone is accessing bank accounts and money seems to be disappearing
- Change in Power of Attorney, Will, Estate Plan, Trust
Warning Signs to watch out For
- A large amount of money has been taken out of the bank or other cash account
- Numerous withdrawals of smaller amounts, for example $100 at a time, several times a week
- Large checks made out to someone no one knows
- Change in Power of Attorney or the beneficiaries on insurance or investment accounts
- Bounced checks or bills going unpaid when there should be enough money in the bank to cover them
- Sudden unusual or unnecessary purchases, for example golf clubs and the individual doesn’t/can’t play golf
- Large, unnecessary home repairs
- Relationship with a much younger person or an inappropriate person
- A caregiver too interested in the patient’s finances