Accounting needs range from a yearly tax return to full-service bookkeeping. This guide helps Richmond individuals and small businesses compare preparers, CPAs and bookkeepers.
Richmond is in Virginia, which generally has four distinct seasons with hot, humid summers and cool winters. That shapes what accounting work looks like locally and when it is best to schedule it.
For the full accounting guide — cost drivers, how prices vary by region, licensing and the complete FAQ — see our accounting guide.
What to know in Richmond
Virginia levies a state income tax, so most returns involve both federal and Virginia filings. Ask any preparer how they handle state and local returns, and whether they are comfortable with multi-state situations.
Typical accounting costs
National ballpark ranges for planning only. Actual prices in Richmond depend on the scope of work, materials and the provider — always compare written quotes.
| Service | Typical range |
|---|---|
| Individual tax return | $200 โ $600+ |
| Small business tax return | $500 โ $2,500 |
| Monthly bookkeeping (small business) | $300 โ $2,000 |
| Payroll service (monthly) | $50 โ $300 |
| CPA advisory (hourly) | $150 โ $400 |
How to hire the right accountant in Richmond
- Decide what you need: tax prep, bookkeeping, payroll, advisory or all of the above.
- Compare credentials: CPA, enrolled agent (EA), bookkeeper or preparer.
- Ask for a written engagement letter with scope and pricing.
- Confirm they are comfortable with your situation (self-employment, multi-state, rental property).
- Keep organized records and ask about their document process.
Questions to ask before you hire
- What credentials do you hold?
- Will you sign the return with your PTIN?
- What software do you use and how will I share documents?
- How do you charge: flat fee, hourly or monthly?
- Who represents me if I'm audited?
Red flags to watch for
- Preparers who won't sign the return.
- Promises of unusually large refunds.
- Fees based on a percentage of the refund.
- No engagement letter.
Licensing and verification in Virginia
CPAs are licensed by state boards of accountancy; enrolled agents are federally licensed by the IRS; paid preparers need a PTIN. Verify with the Virginia board of accountancy or the IRS directory.
When to schedule
Start tax preparation early and avoid the rush near the filing deadline. For bookkeeping, set up monthly routines from day one.
Frequently asked questions
What's the difference between a CPA and an enrolled agent?
How much should bookkeeping cost?
What should I bring to my tax appointment?
More Richmond guides
Accounting guides for other cities
AllCityPros is an independent information resource. We do not endorse, rate or vouch for any specific business, and nothing here is professional advice. Cost ranges are national ballparks and are not quotes. Always verify licenses, insurance and references yourself.