Dear Valued Client:
Thank you for your interest in our professional services. In order to have a very clear understanding of the scope of the work that you want us to do for you and the payment for such services, this Engagement Letter sets forth our understanding regarding the assignment and constitutes our agreement as to the scope and fees of the services, namely:
- Determine whether our consulting firm’s newly discovered tax laws and loopholes that addresses certain allowable tax reductions and tax credits are applicable to you based on your current tax information;
- Coordinate with the tax preparer of your choice during the preparation, if applicable;
- Identify and recommend appropriate methods and ways in dealing with past and future finance and investment opportunities;
- Analyze and recommend appropriate methods and ways in dealing with past and future finance and investment opportunities;
- Recommend personalized tax planning strategies;
- Perform personalized risk assessment advice on tax related issues;
- Provide advice to find legal ways to minimize your income taxes.
Because of the extreme size and complexity of the tax law, and the frequent changes in the tax law, we may need to search through various reference sources to find answers to questions about various tax issues. You are given the option to seek help from a person who specializes in a particular segment of the tax law.
If assistance is provided by your tax preparer, you will need to (1) enter into a services agreement with them, or (2) provide the cost to us for the full amount of any fee that we may become obligated to pay on your behalf plus all out-of-pocket expenses incurred on your behalf.
In order to provide the assistance you have requested, we will need the following information from you. Our work will not commence until that information is provided.
- A complete copy of your most recent personal and business tax return.
- The information listed in the enclosed Client Information Sheet.
Our fee for the above listed services is based on the amount of time required by either the principal or the professional staff billing rates plus out-of-pocket expenses. In addition to paying consulting fees, clients shall reimburse the Company for all costs and expenses incurred by the Company, including, but not limited to, federal express, messenger and other delivery fees, other consultant’s fees, accounting and bookkeeping fees, risk management services, data management services, and other similar items. Clients hereby authorize the company to incur all reasonable costs and hire consultants, accountants, and other personnel reasonable necessary in the Company’s judgement. All invoices are due and payable immediately upon presentation. An interest charge of 1.5% will be added to all accounts not paid within thirty (30) days.
We reserve the right to suspend our services or to withdraw from this engagement in the event that any of our invoices are deemed delinquent. In the event that any collection action is required to collect unpaid balances due to us, you agree to reimburse us for our costs of collection, including attorney’s fees. If we elect to terminate our services for nonpayment, or for any other reason provided for in this letter, this engagement letter will be deemed as sufficient notice of termination of our services to you, even if we have not completed our agreed services as outlined in this engagement letter. You will be obligated to compensate us for all time expended, and to reimburse us for all of our out-of-pocket costs, through the date of termination.
Any estimates provided as to the time required to complete the work you have asked us to do for you is not a guarantee and is not binding. In the event that this assignment may result in a future inquiry from the IRS, we will attempt to assist you as much as possible, but such assistance will constitute a new engagement of services.
We will make every reasonable effort to avoid any errors or omissions in the services or advice that we provide to clients. However, the tax law is voluminous, ambiguous, and constantly changing. Our liability for any errors or omissions will be limited to a full refund of the fees paid and will not include liability for any consequential damages. Any claim for damages will expire within two years of when the final billing is mailed to you. Our liability is also limited to you and any recommendations provided to you may not be used or relied upon by any other parties.
In the event that the IRS disagrees with part or all of our conclusions or opinions, we shall credit you proportionately with any fees paid to us. As part of our service, we will represent you and communicate with the taxing authority on your behalf in an audit proceeding regarding our conclusions or opinion related to your case for that applicable tax case at no cost to you.
You will, of course, be free to follow or to disregard, in whole or in part, any recommendations we may make. You will be responsible for any and all decisions regarding the implementation of any of our recommendations. However, if you should elect not to implement our recommendations, you will thereby waive any claim for a refund of any fees.
All of your original records will be returned to you at the end of this engagement. You should keep the original records in a secured storage.
For current and former clients, we do not disclose any nonpublic personal information obtained in the course of our practice except as required or permitted by law.
To affirm that this letter correctly summarizes your understanding of the terms and conditions for the provisions of services as provided in this Engagement Letter, please indicate your acceptance by signing and agreeing to an electronic signature in the Client Engagement Form.
