How can I ensure that my tax advisor costs are reasonable?
February 1, 2023 | 50,00 EUR | answered by Eva Peters
Dear tax advisor,
My name is Wilhelm Baumgart and I am seeking advice on how to ensure that my tax advisor costs are reasonable. I have been using the services of a tax advisor for several years now, who takes care of my tax returns and accounting. I have been satisfied with his work so far, but lately I have noticed that the costs for his services are continuously increasing.
Currently, my situation is as follows: Every year, my tax advisor sends me a bill that is significantly higher than in previous years. I feel that the tax advisor costs are no longer proportional to the services provided. This concerns me, as I am not able to judge whether the costs are justified or if I may be overpaying.
Therefore, I am wondering how I can ensure that my tax advisor costs are reasonable. Are there specific criteria that I can use to evaluate the costs? Should I ask my tax advisor for a detailed breakdown of his services and corresponding costs? Or are there other ways to verify the reasonableness of the tax advisor costs?
I want to make sure that I am paying a fair price for the services of my tax advisor and not accepting inflated costs. I would greatly appreciate your expertise and advice on this matter.
Thank you in advance for your help.
Sincerely,
Wilhelm Baumgart
Dear Mr. Baumgart,
Thank you for your inquiry regarding the appropriateness of your tax advisor fees. It is understandable that you are concerned about rising costs and want to ensure that you are paying a fair price for the services provided.
To assess the appropriateness of your tax advisor fees, there are various criteria you can consider. First of all, you should be clear about the services your tax advisor is providing for you. This includes preparing your tax returns, advising on tax matters, monitoring your accounting, and representing you to tax authorities.
Another important aspect is the experience and qualifications of your tax advisor. An experienced and well-trained tax advisor can generally help you more efficiently and with higher quality in your tax matters, which may also be reflected in the costs.
To assess the appropriateness of the costs, you can ask your tax advisor for a detailed breakdown of services and corresponding costs. This way, you can transparently see what you are paying for and whether the costs are in line with the services provided. You can also compare with other tax advisors to get a sense of whether the costs are market standard in your case.
Another important point is communication with your tax advisor. Be open with him about your concerns regarding costs and inquire about possible ways to save money or alternatives. There may be options such as flat fees or individual agreements that are beneficial for both parties.
Finally, it is advisable to regularly review the costs and services of your tax advisor to ensure that you continue to pay a fair price for his services.
I hope this information helps you and enables you to ensure that your tax advisor fees are appropriate. If you have any further questions, please feel free to ask.
Best regards,
Eva Peters
