Terms and Conditions of Services 

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Thank you for choosing Tax and Accounting Services Company (“TASC”) to assist you. Our services depend on you to provide the information we need to complete an accurate assessment, complete compliance tasks, and provide recommendations.

 

You've opted for our FULL-SERVICE PLAN, which encompasses a range of essential services and discounts:

 

It is important to note that not all of these services will be performed but any of these services that are performed will be included in your monthly accounting and tax billing. The discounts are just a benefit of working with us.

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1. Access to Client Portal: All data collection is secure and electronic for your safety. No paper documents or email transmissions for financial data due to identity theft risks. The secure client portal retains records for 7 years, accessible to you at no additional cost.

2. ​QuickBooks Products: We are a QuickBooks Elite ProAdvisor – As such we offer discounts to our clients usually 30% or more (All pricing and discounts are set by Intuit and subject to change) In order to receive the discounts billing must be run through TASC, you must be a current client and subscribed to QB essentials or Higher. (Quickbooks Self-Employed not part of our discount, QB Payroll is also not part of our discount packages)

3. Annual Reasonable Compensation Study: C-corporations and S-Corporations need to compensate officer/shareholders reasonably under IRS rulings and Treasury Regulations.  In order to determine your Reasonable compensation we recommend using RC Reports, they follow IRS methods for reasonable compensation determination. Our partner service RCREPORTS.com provides a $50 discount to our clients use the PROMO CODE: Toussaint  -- This discount can be used for other businesses and shared with friends and family please feel free to use and share our discount code. 

4. ​Year-Round Consulting and Tax Advice: Senior-level accountants or tax professionals provide ongoing consulting and guidance for your tax liabilities and business decisions. Simply schedule a Zoom meeting that is convenient for you using our CALENDAR LINK  (it is also in our email signature and on each page of our website at https://www.tascpublicaccounting.com/

5. ​Monthly Review and Accounting Adjustments: We can ensure your financial data's accuracy by reconciling various elements like QuickBooks transactions to statements, inventory counts to purchase and sales reports, fixed assets, loan reconciliation, payroll checks, sales tax payments, and revenue verification against POS reports. We can provide bookkeeping services if you don’t already have a bookkeeper. However, depending on the level of transactions you have and how often you want to see the data input. it may be more cost efficient to have a bookkeeper to help with data entry. 

6. ​Financial Reporting: Monthly Interim Statements are available via QuickBooks to print, export to excel or save in PDF form. Additional time commitments are needed if you require signed compilation statements per accounting standards. We will create and save financial statements that can be viewed at anytime through QuickBooks in the report section. These memorized s statements can be used for management purposes without requiring additional charges or services. Our accounting is done on a tax basis of accounting and an annual financial statement is often prepared with business tax returns as an optional service. If you don't wish to have an annual statement prepared please notify us prior to tax return preparation.   

7. ​Quarterly Review and Tax Estimates: Senior-level professionals can review your accounting quarterly to aid accurate tax estimation, crucial for IRS quarterly tax payments and avoiding penalties.

8. ​Business Tax Preparation: Our priority is accurate tax compliance. We'll prepare your annual business tax returns, excluding complex tax credits or studies that require substantial additional time, which would be billed separately. (for example: Cost Segregation, R&D Credits, and other tax credits not required to file a complete return.) 

9. ​Individual Tax Preparation: Owners and family members of businesses that we work with receive 20% off tax return preparation. We cannot auto bill individual tax return preparation as it is not a business expense. A discount will be applied to your separate billing for individual taxes.

 

By accepting our terms and working with TASC  you are confirming the following:

 

1. All information provided in client questionnaires and organizers is, or will be, truthful and accurate to the best of your knowledge.

2. You have provided or will provide all required documentation promptly. Delays in information provision could extend service timelines beyond 30 days.

3. Acknowledgment that all income, including cash and other property, has been or will be disclosed.

4. Understanding that both taxpayer and spouse are jointly responsible for any tax due on joint returns.

5. Awareness that taxpayers are accountable for all reported or unreported items on tax returns, irrespective of preparers. However, preparers may face consequences for fraudulent or unlawful actions.

6. Understanding that falsifying records or misrepresenting financial data is fraudulent and illegal.

7. Recognition that this contract spans one year. Early cancellation forfeits applied discounts, and services performed afterward incur normal hourly rates.

8. Responsibility for paying taxes to IRS, state, or local agencies by their respective due dates.

9. Understanding that if requested by tax agencies, producing receipts and documentation to substantiate income and deductions is necessary. Retaining records for a minimum of seven years, potentially indefinitely for certain circumstances, is crucial.

10. Awareness that service fees outlined are time-based and not contingent upon completed returns, statements, forms, or specific outcomes.

11. Understanding that termination recalculates performed services at standard rates without discounts. Unpaid amounts become due and payable, charged to the payment method provided.

12. Agreement that engagement, including billing and collection, abides by Colorado laws, with both parties consenting to the exclusive jurisdiction of courts in Boulder County.

 

Please ensure understanding and compliance with these terms before beginning our services. Commencing work with our company holds you responsible for these terms.

 

While we may clarify certain items, it's important to note that our work DOES NOT involve auditing or verifying the data you provide. Our procedures aren't designed to uncover misused funds or irregularities. Therefore, our engagement shouldn't be solely relied upon to uncover errors, fraud, or illegal activities. However, should we come across any material errors, fraud, or illegal acts, we'll promptly inform you. Audits and other attestation services are a different form of service and would require us to have, among other requirements, a level of independence that we may not have by providing certain consulting, management and CFO services and would therefore prohibit us from providing any form of assurance on any prepared statements. However, the experience of our senior staff does provide us a degree of knowledge and we make every attempt to follow accounting standards and tax regulations so that there would be no substantial differences in the accounting under audit provided all information we have knowledge of is correct, accurate and true. Be aware that audits involve confirming invoices, bills , contracts and other documents with third parties and we might not have any knowledge of this information other than what management has expressed to us. The financial statements are the responsibility of the management and are based solely on the representations of the management of the business for which they are reported. 

 

We strongly recommend meeting with us before signing and electronically filing tax returns or using any financial reports we generate. We DO NOT CHARGE for the time spent meeting and reviewing your completed tax returns or financial reports. Our aim is to ensure your full comprehension of their contents. If there's anything you don't understand or need clarification on, we're more than happy to explain. Your understanding is our priority, so please feel free to ask any questions at any time.

 

 

Fees and Invoicing

The FULL-SERVICE PLAN, under normal circumstances, operates on a monthly billing cycle through recurring debit/credit card or ACH bank draft authorization. A customized form of these terms and agreements will be sent to you for signature with a predetermined estimated monthly rate.  Your designated debit or credit card will be charged for the estimated monthly billable time each month on the agreed date, reflecting the specified monthly charges. Please note that Intuit charges a 3.75% fee for the use of debit or credit cards and 2.0% for ACH Transfer – these fees are included on all recurring payments.

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Any services where a predetermined billing amount has not been determined will be automatically billed at the normal rates. This can occur under circumstances, especially when new clients request services during busy tax season or other times where we are uncertain of the time frame of the services.  If this is the case these Terms of Service will govern the work performed.  Please understand that ALL SERVICES under the TOS or a customized TOS are billed at normal rates, but to make it easier for our clients to budget for and be prepared for billing we try to provide an estimated monthly rate. If the amount billed is difficult for your business budget we are open to making arrangements for payments and other considerations. We are here to help. 

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If the total actual billable time for completed work surpasses the projected limit, a billing for the additional time will be initiated. Moreover, if the total time billed within the current year exceeds the estimated payments for the monthly automatic billing amount, the excess will be billed. Conversely, if the total billable time for a month is less than the monthly fee, the remaining amount will be applied as a credit toward the following month’s services. Please note that monthly fees are non-refundable under any circumstances. This policy ensures that billing adjustments are made based on the actual work completed, thereby preventing a significant discrepancy between the estimated payments and the actual time billed.

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Although the time is estimated, we will offset all billed time against monthly payments as incurred. This DOES NOT include third-party expenses incurred and payable to others, which will always be billed in addition to the monthly billing.

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Additional services, if any, included in this contract, should be detailed in additional documents made part of this agreement or agreed upon separately.  Services not covered by the Full-Service Plan will be invoiced and will be subject to the other terms discussed herein.  This includes any service not listed on page 1 as essential services. All fees, including discounted flat fees within the Full-Service Plan, are determined by the time spent, not by the completion of work. It is your responsibility to ensure timely payment of invoices. Invoices are due and payable by the stated due date. On the invoice due date, outstanding amounts will be automatically charged to the authorized credit card. If multiple invoices are due TASC reserves the right to postpone invoicing if it feels it will be of beneficial interest to the business to defer the billing. This postponement does not relieve you of responsibility for paying the invoice and it is meant to be a helpful step to the business. 

 

Declined Payments - If full authorization is not permitted, returned, or declined, we retain the right to re-deposit or initiate transactions via debit or credit until the outstanding amount is settled. Additionally, in such instances, we reserve the option to accept partial payments until the full amount is recovered or alternative arrangements are agreed upon with our office.

 

In accordance with state law, an interest charge may be added to all accounts outstanding beyond thirty (30) days. Please note, starting from 2017, we no longer accept paper checks. Payments for invoices must be made via credit card, debit card, or e-check through our invoicing system.

 

Furthermore, Discounted QuickBooks and QuickBooks payroll subscriptions will be invoiced by TASC at your pre-arranged Intuit Rate. To qualify for Intuit's discount, specific conditions apply, such as being a new customer and meeting certain time criteria since the last purchase. It's important to note that Intuit's terms are subject to change, and any alterations in their pricing plans are beyond our control. QB fees are a third part of expenses and will be billed under a separate sale receipt billed to you payment method on file.

 

Should you encounter cash flow or other challenges, please don't hesitate to contact us. We are more than willing to discuss and establish suitable arrangements.

 

Flat fees are a discounted version of our standard hourly billing rates. Our charges are determined by the time invested at the prevailing standard hourly rates, alongside any out-of-pocket expenses. These expenses encompass various costs such as tax and software fees, mileage, and postage, among others.

 

Our standard hourly rates may undergo occasional adjustments to account for inflation and other relevant conditions. Specifically, charges stand at $90 per hour for administrative tasks, $150 per hour for staff work, and $350 per hour for reviews conducted by a Senior Accountant (referred to as 'CPA' or 'PA') or a Master of Taxation ('MT').

 

Fees for services rendered are based on the time expended and are applicable irrespective of whether you receive a completed report, tax return, financial statement, or any achieved results or actions.

 

Our engagement may conclude if, at any point, we deem ourselves unable to fulfill the engagement. Reasons for determining inability to continue may include, but are not limited to:

a) Insufficient information provided by you. b) Disagreement regarding amounts required to be reported under current law, which remains unresolved. c) Non-receipt of invoice payments without an approved payment arrangement with our offices. d) Inability to proceed due to ethical, moral, or legal reasons.

 

TASC reserves the right to terminate this agreement with or without cause.

 

We are happy to have you as a client and look forward to a beneficial working relationship. Sincerely yours,

Tax and Accounting Services Company. Inc.