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GFG Process & Fees
Our CPA Firm’s Process
At Grigg Financial Group, each engagement is a planning engagement designed to improve your wealth while reducing your tax burden. We discuss tax efficiency, tax compliance, and wealth building. Our techniques can save tens of thousands per year in taxes.
The following practices are in place to protect your time, to preserve accuracy, and to deliver a high level of service. Please ensure you’re comfortable with these practices before engaging us:
- We are paperless
- We conduct most meetings via video conferencing or phone
- We utilize a specialized portal to:
- Exchange documents
- Send project updates
- Request information
- Request signatures
- Collect fees
- Store client files for up to a limited number of years
- Services are rendered after payment of a retainer
- Tax clients are assigned a month of tax preparation for when we expect complete the return
- We will extend your return if we can’t complete it before the deadline
- Planning meetings are designed to address client questions, complete tax projections, provide tax law updates, address tax compliance, and improve wealth
- In special cases, new tax reduction strategies may be billed separately and will be quoted when proposed
Who GFG Typically Works With
GFG partners with households and businesses who want to build wealth in a tax-efficient manner while minimizing risk. Our clients come from a variety of backgrounds, but they share something in common: they work hard, plan ahead, and want a trusted CPA for guidance.
Established Investors
Households with $200K+ in income who are actively investing in the markets, and who want to increase their portfolios or diversify into different asset classes.
Business Owners
Businesses that generate at least $200k of gross income each year.
Real Estate Investors
Households with rental properties who also invest (or want to invest) in the markets.
Veterans
Military families with $200K+ in household income or a side business, who invest or want to invest in the markets.
Medical Professionals
Medical practice owners, physicians, dentists and other healthcare providers who’ve built a side business.
Student-Athletes NIL Deals
Student-athletes looking for guidance from contract review to tax planning to building a foundation for long-term wealth.
Families Planning Ahead
Households looking for guidance on both short-term financial goals and long-term wealth planning.
A Portfolio of $100K
Or, a portfolio approaching $100K, is a good general fit for working together.
GFG Fees
We provide a quote during our introductory call, and our minimum fees are listed below. The quote is based on complexity, expected time to complete a project, and other factors. These quotes address tax filings, our standard planning agenda (see below), and wealth building.
Business Owners Can Save
$50,000+ per year
Individuals Can Save
Thousands per year
Go Beyond Standard Tax Prep
Focus on all 8 Tax Planning Realms
Control Your Financial Health
Increasing Wealth & Lowering Risk
How Your Quote Works
Based on complexity, expected time, and other factors from your intro call. As rules and laws change, we amend your plan accordingly.
What Can Change Your Fee
New tax strategies, extra meetings beyond your allotted hours, or additional disclosures made after engagement starts. Please note that our fees usually increase 2-5% each year.
Qualifying wealth management clients are not billed for new tax reduction strategies.
Retainers and New Engagements
We will request a retainer to start each new engagement, any new work is billed against your retainer. We offer quarterly, semi-annual, or annual payment of retainers for ongoing work. Quarterly retainers are by approval only. Outstanding balances are due when the final product is released.
Each engagement includes a limited number of hours for a set level of complexity; if those hours are exceeded, we reserve the right to bill for additional hours at our hourly rates, in quarter-hour increments. If complexity is added or discovered during an engagement, we may increase the fee.
Planning Engagements
Planning engagements include several hours of client meetings, depending on various factors, as well as preparatory or post-meeting work.
Standard planning engagement fees are bundled with tax preparation fees as part of our minimum engagement, and cover the agenda listed below.
Standard Planning Agenda
1. Client Q&A
2. Discuss changes in financial activity
3. Tax compliance issues
4. Review previously proposed tax and wealth strategies
5. Analyze the potential for new tax minimization strategies
6. Analyze the potential for new wealth-building opportunities
7. Analyze risk minimization opportunities
8. Tax projection
9. Review of quarterly estimated taxes (if applicable)
10. Tax law update to stay current on tax changes
11. Econ update to make money matters work better for you
12. Discuss periodic accounting reports (if applicable)
Client-Provided Information
We ask clients to be proactive in disclosing changes in income, deductions, or other items that may influence a tax return. This gives us an opportunity to notify you of any changes in fees. If, instead, we discover changes during tax preparation, we won’t know the full scope of the fee changes until we have completed the return. At that point, we reserve the right to bill for the work completed.
Billing & Refunds
Fees are earned once key milestones are met. We bill in 15-minute increments. Also, refunds are issued net of earned fees based on milestones or time incurred at the billing rate.
Corporate/Partnership Engagement with Owner’s Return and Planning
Starting Fee $8,000 (27% bundled discount) and includes:
- Potentially save tens of thousands in taxes per year while building wealth
- Monitoring and adjusting plans due to new rules, regulations, and laws
- Adjusting plans when your business or personal circumstances change
- Creating business audit defense techniques
- One business tax return
- Everything listed in the Bundled Personal Engagement (to the right or below)
- Three accounting inspections (Q1, Q3, Q4)1Quarterly updates are based on the business we're inspecting, not other broker accounts, etc.
- Updated business quarterly estimates with each accounting inspection2Quarterly updates are based on the business we're inspecting, not other broker accounts, etc.
- Updated personal quarterly estimates with each accounting inspection3Quarterly updates are based on the business we're inspecting, not other broker accounts, etc.
- Business and personal planning sessions in Q3 or Q4 covering agenda above
- Introduction to advanced wealth planning systems
- Fee reduction possible if engaged for other financial services
Bundled Personal Engagement with Planning
Starting Fee $3,000 (25% bundled discount) and includes:
- Potentially save thousands per year in taxes while buidling wealth
- Monitoring and adjusting plans due to new rules, regulations, and laws
- Adjusting plans when your business or personal circumstances change
- Creating personal audit defense techniques
- One personal tax return
- Planning sessions in Q3 or Q4 covering the agenda above
- Three complimentary hours of government audit/notice resolution
- Introduction to advanced wealth planning systems
- Fee reduction possible if engaged for other financial services
Our A La Carte Starting Fees
Additional planning time
Increments of $1,500
Corporations, Partnerships11. We usually require all business clients to engage us for 1-3 annual inspections unless we are engaged for accounting. Some exceptions to the inspection rule may be given to sole proprietorships with extremely low accounting activity.
2. All businesses must use double-entry accounting software, and we must be granted access to it. Exceptions may be granted for small, low-activity, sole proprietorships. Starting at $2,000
2. All businesses must use double-entry accounting software, and we must be granted access to it. Exceptions may be granted for small, low-activity, sole proprietorships. Starting at $2,000
Estates, Trusts, Gift Tax Returns
Starting at $1,000
Dependent Individual Tax Returns21. We usually require all business clients to engage us for 1-3 annual inspections unless we are engaged for accounting. Some exceptions to the inspection rule may be given to sole proprietorships with extremely low accounting activity.
2. All businesses must use double-entry accounting software, and we must be granted access to it. Exceptions may be granted for small, low-activity, sole proprietorships. Starting at $500
2. All businesses must use double-entry accounting software, and we must be granted access to it. Exceptions may be granted for small, low-activity, sole proprietorships. Starting at $500
Single-Member LLCs31. We usually require all business clients to engage us for 1-3 annual inspections unless we are engaged for accounting. Some exceptions to the inspection rule may be given to sole proprietorships with extremely low accounting activity.
2. All businesses must use double-entry accounting software, and we must be granted access to it. Exceptions may be granted for small, low-activity, sole proprietorships. Depends on state filing requirements CA SM-LLC: Starting at $500
2. All businesses must use double-entry accounting software, and we must be granted access to it. Exceptions may be granted for small, low-activity, sole proprietorships. Depends on state filing requirements CA SM-LLC: Starting at $500
Accounting Inspection4An Accounting Inspection is not an audit, review, compilation, or forensic accounting. We do not provide any opinion or assurances that third parties can use. We check various quality control procedures within your accounting process with the goal of improving the accounting. This process helps minimize taxes and helps with audit defense practices. The inspection is not intended to find theft or other abuses, though we may see such activity and will report these findings to management. Once an inspection is complete, we will contact the owner and disclose our findings.
$750 ea
Accounting
$2,000 minimum
Payroll
As quoted
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Frequently Asked Questions
Will I save more in tax each year than what you charge in fees?
Clients almost always save more in taxes than the fees we charge for planning. But there are other benefits to our planning other than saving on taxes. Clients save on taxes, accumulate wealth, reduce the risk of losing accumulated wealth, improve tax compliance for audit defense, and accomplish important goals. Over the course of working together, your situation will improve substantially if you follow our guidance.
Much of what we do can be measured in terms of tax savings and wealth accumulation. We can measure immediate or future tax savings and wealth accumulated.
Some of what we do can’t be measured, yet it adds substantial value either in time saved, peace of mind, or other factors. For example, we can’t always measure improvements to tax reporting to defend deductions. We can’t immediately measure the value of improving accounting methods for management decisions. We can’t measure the peace of mind of successfully defending clients under audit. However, we have seen the reduction of stress in clients because we coached them on clean, easily usable documentation by the auditor. The peace of mind was valuable.
What CPA services do you offer?
We offer wealth management, tax preparation, tax planning, bookkeeping, accounting consulting, payroll, payroll consulting, and audit representation.
Do you have specialties?
Yes. We specialize in delivering comprehensive solutions and not just focusing on tax reduction. We help clients prioritize complex options that increase their wealth while lowering taxes at each step.
If I work with your firm, will I only speak with the partners?
No. Our staff is a critical part of all engagements. However, staff work is reviewed by partners and/or managers.