Magnum Advisors in Baltimore: Tax and Accounting for Closely Held Businesses
Magnum Advisors is a CPA and accounting firm in Baltimore that focuses on closely held businesses, partnerships, and pass-through entities rather than individuals or large corporations. The firm handles tax planning, bookkeeping, audit and review services, and business consulting, positioning itself as deep-dive technical support for owners who need more than basic compliance.
What Magnum Advisors actually is
Magnum Advisors operates as a full-service CPA firm for mid-market private businesses in the Baltimore region. The practice emphasizes proactive tax strategy and financial analysis for owners running S-corps, partnerships, LLCs, and sole proprietorships. The firm is small enough to offer direct contact with CPAs rather than delegating client work to junior staff, a structural difference from larger regional or national firms. The engagement model assumes ongoing relationship work, not one-off tax returns.
Services and pricing structure
The firm offers four service tiers that reflect the scope of a business's accounting needs:
Bookkeeping and accounting services run on an hourly basis, typically $150 to $300 per hour depending on the complexity and frequency of transactions. This covers monthly account reconciliation, payroll processing, and financial statement preparation.
Tax return preparation for pass-through entities and S-corp returns runs $2,500 to $8,000 depending on complexity; this figure reflects typical Baltimore-area CPA pricing for business returns and should be confirmed directly, as complexity and estimated quarterly payments affect the final fee.
Audit and review services are quoted on an engagement basis after an initial scoping call; a review engagement (less comprehensive than an audit) typically ranges $3,000 to $7,000 for smaller entities.
Tax planning and consulting are available as add-on projects, billed hourly at $200 to $350 per hour, and address specific items like entity restructuring, estimated payment strategy, or multi-state compliance.
How Magnum Advisors compares to other Baltimore accounting options
Baltimore has three broad categories of CPA firms serving business owners: large regional firms (CohnReznick, Grant Thornton), mid-market practices (Magnum, Andersen, others), and solo practitioners.
Large regional firms offer formal audit credentials and insurance for public clients, but often assign work to junior staff and require minimum engagement fees ($5,000+) for ongoing service. They suit owners seeking external validation for lenders or investors or those with GAAP audit requirements.
Solo practitioners and two-person shops often cost less per hour ($100-$200) but have less capacity for complex multi-year planning and no peer review structure. They suit very small businesses with straightforward returns.
Magnum's middle position trades hourly cost for continuity and expertise. An owner working with Magnum gets a CPA on the client call, not a junior associate, and a firm large enough to handle complex entity structuring. The trade-off is higher hourly billing than a solo practitioner but more direct service than a 100-person firm.
Who Magnum Advisors suits and does not suit
Magnum works well for business owners running profitable private companies with annual revenues between $500,000 and $10 million, especially those in construction, professional services, real estate, and manufacturing. The firm is also a fit for owners facing entity changes, multi-state expansion, or tax planning decisions that require judgment, not just compliance.
The firm is not the right choice for sole proprietors seeking minimal-cost tax filing; a solo CPA or tax preparation service will be cheaper. It is also not appropriate for publicly traded companies or those seeking GAAP audits by a Big Four firm; Magnum does not have the infrastructure for regulatory audits.
What the first engagement involves
The initial conversation is a scoping call where the owner describes business structure, current tax situation, pain points, and goals. Magnum's CPAs use this to assess complexity and outline which services make sense. The firm typically requests two to three years of prior returns and business financial statements to understand baseline history.
After scoping, the engagement fee and service plan are detailed in a written engagement letter that specifies what is included (monthly bookkeeping, quarterly planning calls, annual return preparation) and what costs extra (ad hoc consulting, new entity formation). Many owners start with monthly bookkeeping and annual tax planning as a core package, then add audit or review services once the relationship stabilizes.
Hours, contact, and logistics
The firm operates Monday through Friday, 9 a.m. to 5 p.m. Meetings are conducted in-office and via video. Most engagement work happens remotely after the initial consultation. Confirm current hours and scheduling by calling or visiting the firm's website, as service availability can shift seasonally during tax season.
Magnum Advisors fills a practical niche for Baltimore business owners who need continuity, expert judgment, and a direct CPA relationship without the overhead cost of a national firm. The firm's focus on complex pass-through entities and proactive planning makes it a strong match for owners already generating significant income and willing to invest in tax strategy.
