Terms and Conditions

The following details the terms and conditions of our mutual engagement. Please read the following to better understand your obligations.

You are obligated to comply with many legal, accounting, and tax-related responsibilities associated with the privilege of owning and running a business. This obligation remains with you even though you may be unfamiliar with the rules.

Some of your responsibilities include:

Maintaining complete accounting records for tax-reportable business transactions

Maintaining receipts containing clear descriptions of products and services purchased and the business reason for such

Maintaining bank records (cancelled checks/statements) evidencing payment of products/services for which you have receipts

Compliance with tax deductibility associated with travel, meals, and entertainment expenses

Compliance with tax deductibility associated with business automotive use

My objective as an accountant is to address your stated concerns. I may inquire if I become aware that your accounting system does not meet your obligations, or I notice noncompliance in the course of working with you . However, I attempt to minimize additional inquiries in order to focus on what you have asked me to do. In other words, my objective is not to expand our engagement without your request/consent to do so. I urge you to inquire if you feel uncertain or unfamiliar with any areas of your responsibilities in the tax and accounting arena.

With respect to your accounting application:

You are giving me access to your accounting app to enable me to work with you on balances and/or transactions, and optimize your accounting system. I will extract reports for tax return preparation and to provide you information about your business.

As the business owner, you maintain responsibility for the accuracy and completeness of the data/reports used for tax return preparation and for adherence to IRS regulations. Some of these regulations (as applicable) include: Business Expenses per IRS Publication 535; Travel, Entertainment, Gift, and Car Expenses per IRS Publication 463; and Business Use of Your Home per IRS Publication 587.

As your accountant I may provide advice, assist in bookkeeping, make comments, or inquire about the information contained in your accounting application. I may adjust your books as deemed necessary or advisable for preparation of tax returns. I do not audit or verify data/reports, and my work does not include any procedures designed to discover fraud, defalcations or other irregularities. Any financial reports I generate from your accounting application are for management use only and are not to be communicated to 3rd parties.

You are ultimately responsible for the proper recording of transactions in the books, for the safeguarding of assets, and the substantial accuracy of the financial records used in the tax returns. You are also ultimately responsible for compliance with tax laws and other applicable regulations.

I appreciate the opportunity to work with you on expanded areas of your obligations, and will do so at your request. I want you to be in control of how I work with you.