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Your accounting firm may get a bit more expensive next year.
According to a survey by software provider Ignition, 57% of accounting firms plan to raise their prices across the board in 2025. The vast majority—88%—expect an increase of 3-10%.
The survey polled 345 US Ignition customers in August 2024. Three quarters of the firms (75%) surveyed had annual revenues below $1.4 million.
Currently, the majority of firms (around 58%) charge between $1000 and $2000 for a business tax return while around 61% charge between $250 and $749 a month for bookkeeping and accounting.
Slightly over half of firms (56%) provide CFO and controller services. There’s a wide variance in what those firms charge, but 27% charge more than $2500 a month. About three-quarters of firms (76%) say they’ll increase prices for CFO and controller services next year, with 77% stating they’ll raise fees between 5 and 10%.
Accounting firms are moving away from hourly billing, the survey found. For instance, only 20% charge by the hour for CFO and controller services, and just 8% do so for bookkeeping and accounting; and 20% for CFO and controller services. Instead, firms are far more likely to charge fixed fees or to use value pricing (setting prices for services based on value to the customer).