Good Faith Deposit: Similar to a security deposit, this money is usually non-refundable and is held indefinitely. It is only applied to the final invoice if:
1. Client has no unpaid invoices &
2. ​Signs a waiver stating we completed the engagement in full.
Upfront Fees/Deposits to start work/Estimates: Clients may receive requests for a fee to be paid at the beginning of a contract for various reasons, such as set up, access, or activation when we accept a project that is expected to take extra hours beyond the subscription for recurring work projects such as bookkeeping, payroll, and tax returns. For example, if there are back tax returns not filed, a upfront deposit before we begin is often requested.
Engagement Agreement(s): The Document(s) signed by a Client where the Firm's type of work (scope of duties) and responsibilities are agreed upon when the Firm is Accepting a Client's work.
1040 Basic Work Only Clients = $500
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What is a basic return?
** No complex issues listed to the right>>>
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W2 income in only one state
SSA 1099 (Social Security)
A well-organized client with all their paperwork ready and signed!
Client is 'technology' savvy
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We do NOT bill a Card Processing Fee on Retainers & Deposits, however,
a 3% credit/debit card fee does apply to invoices paid by card instead of ACH ***
Why do most client engagements require $1,000 retainer to accept new clients?
The firm spends significant resources "onboarding" new clients and to archive projects per industry requirements. We are real, expert humans (not robots) and recognize to provide the level of service taxpayers deserve, we must limit how many new clients our firm accepts.
Virtual Currency
Multiple State Returns
International Reporting
1120S (S Corps)
1065 (Partnerships)
Sch. C (LLC/Sole Proprietorship)
Rentals
Gig Economy/Venmo/Peer Payments
Large Brokerage Docs
Earned Income Credit
Other REFUNDABLE CREDITS
More than one dependent
Divorce Issues
People living in your home over 17 years old
Kids are now college students
Client has missing records or no records
Client doesn't like/use technology
Other unusual events
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** Unfiled Back Returns & Audit Work may require higher deposits.
* Please note: To perform our work, clients will need to sign an engagement, fill out their organizer completely, and document identity and # of nights children slept in your household.