itonewbie
Level 15
02-11-2021
09:25 AM
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NP, @puravidapto. I only just noticed you're referring to preparation fees. I wouldn't think 1065 is a fair comparison for a few reasons:
1) The number of schedules that may need to be completed differ depending on which categories your client belongs to;
2) Additional time and effort will likely be incurred for understanding, reviewing, and analyzing books and records kept in foreign standards; and
3) Translation from whatever FRS the foreign partnership uses to US GAAP may entail engagement of dual-practice accountants overseas.
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Still an AllStar
Still an AllStar