ENGAGEMENT LETTER
Dear Taxpayer,
Thank you for choosing TAYLORS FINANCIAL SOLUTIONS to assist you with your 2023 taxes. This letter confirms the terms of our engagement with you and outlines the nature and extent of the services we will provide.
We will prepare your 2023 federal and state income tax returns. We will depend on you to provide the information we need to prepare and complete an accurate return. We may ask you to clarify some items but will not audit or otherwise verify the data you submit. An Organizer is enclosed to help you collect the data required for your return. The Organizer will help you avoid overlooking important information. By using it, you will contribute to the efficient preparation of your returns and help minimize the cost of our services.
We will perform accounting services only as needed to prepare your tax returns. Our work will not include procedures to find defalcations or other irregularities. Accordingly, our engagement should not be relied upon to disclose errors, fraud, or other illegal acts, though it may be necessary for you to clarify some of the information you submit. We will inform you of any material errors, fraud, or other illegal acts we discover.
The law imposes penalties when taxpayers underestimate their tax liability. Call us if you have concerns about such penalties.
Should we encounter instances of unclear tax law, or of potential conflicts in the interpretation of the law, we will outline the reasonable courses of action and the risks and consequences of each. We will ultimately adopt, on your behalf, the alternative you select.
Our fee structure for the aforementioned service is as follows: Basic individual tax return preparation starts at $500. Any return with a Schedule C preparation starts at $700. Corporate tax returns are priced beginning at $1150 and do not include bookkeeping services. Amended returns start at $250. If you require services outside the scope of this agreement you will be subject to additional and/or separate billing. In addition, we offer optional bookkeeping and accounting services which include monthly reconciliation of accounts, classification of expenditures, preparation of financial statements, and filing of your 940's and 941s if applicable. Please contact our accounting department at 404-791-6638 or email us at admin@taylorsfinancialsolutions.com for specific accounting or bookkeeping pricing packages. If you are choosing to e-file your return utilizing bank products, you are authorizing Taylors Financial Solutions to withhold the appropriate preparation fees in addition to the fees withheld from the bank including the bank's processing fees. If you choose not to use bank products, a deposit constituting 50% of the estimated service fee is required upon your acceptance of this Agreement. The remaining sum will be due upon the completion and delivery of the prepared tax return(s). All accounts not paid within thirty (30) days are subject to interest charges to the extent permitted by state law.
If your tax return is offset by the IRS for other outstanding obligations, by signing this agreement, you are agreeing to Taylors Financial Solutions, Inc. completing an automatic draft for the preparation fees from the bank account that you provide during the preparation of your tax return within fourteen (14) days from us receiving notice of the offset.
If you are meeting us in person to have your return completed, we will return your original records to you at the end of this agreement. Store these records, along with all supporting documents, in a secure location. We retain copies of your records and our work papers from your engagement for up to seven years, after which these documents will be destroyed.
If you have not selected to e-file your returns with our office, you will be solely responsible for filing the returns with the appropriate taxing authorities. Review all tax return documents carefully before signing them. Our engagement to prepare your 2023 tax returns will conclude with the delivery of the completed returns to you, or with e-filled returns, with your signature and our subsequent submittal of your tax return.
By signing this engagement, you are agreeing to compensate Taylors Financial Solutions, Inc. for the services you have requested. In the event you terminate the engagement prior to the completion of your tax accounting work, Taylors Financial Solutions, Inc. reserves the right to invoice you for any out-of-pocket expenses, time at our hourly rate, or other expenses that were incurred during this engagement. If you sought in-person consultation services, received advisory services by phone or email, sought representation work, or received any tax accounting services, by signing this engagement letter you are agreeing to compensate Taylors Financial Solutions, Inc. for those services, even if you terminated the engagement prior to our firm completing the work requested or required.
To affirm that this letter correctly summarizes your understanding of the agreement for this work, we ask that you affix your signature below.
Thank you for the opportunity to be of service and we look forward to the prospect of assisting you with your tax preparation and/or accounting needs.
(Both spouses must sign for preparation of joint returns.)