Terms + Conditions

 

Services

Payroll

Emerald Expectations Accounting will provide monthly payroll services on either a weekly, bi-weekly, semi-monthly, or monthly basis. The following tasks will be performed:

  • Process payroll for direct deposit.

  • Process tax payments to be paid on time based upon tax-entity provided due dates.

  • Review and submit tax filings on a quarterly basis, or as due per entity requirements.

  • Complete and submit new hire reports on an as needed basis.

Personal Income Tax Preparation

Please note that the Personal Income Tax Returns are due by April 15. Please, submit your information by March 31 to ensure your Income Taxes can be completed by the deadline. An additional extension of time to file may be requested before the due date, extending the due date of your return to October 15. Any client whose information is not received by the end of the month prior to the due date will automatically be extended, and filing by the original due date is not guaranteed.  

Please note that the extension to file your taxes is not an extension to pay your taxes.  If any tax is due or you think it may be due, you must pay that amount to the IRS and any applicable state agency by April 15. Any tax not paid by this due date is subject to interest and penalties.

Please note that tax preparation services do not include tax planning services such as attempting to reduce your tax liability, entity restructuring, advisory services regarding your liability and potential savings, etc. This is a separate service with a separate fee structure, and requirements.

Bookkeeping

Emerald Expectations Accounting will provide monthly bookkeeping and administrative services. The following tasks will be performed on a monthly basis:

  • Input and reconciliation of all transactions for bank accounts, credit cards, loans and lines of credit (4-5 accounts).

  • Preparation of monthly financial statements (profit & loss, and balance sheet).

  • Guidance on financial issues (up to one hour each quarter).

  • Monthly auditing of Premium Fund Account to required parent entity standards.

Business Income Tax Preparation

Please note that the Corporate Returns are due by March 15, LLC/Partnership Returns by April 15. Please, submit your information by February 28 to ensure your Income Taxes can be completed by the deadline. An additional extension of time to file may be requested before the due date, extending the due date of your return to September 15. Any client whose information is not received by the end of the month prior to the due date will automatically be extended, and filing by the original due date is not guaranteed.  

Please note that the extension to file your taxes is not an extension to pay your taxes.  If any tax is due or you think it may be due, you must pay that amount to the IRS and any applicable state agency by March 15 for Corporations and April 15 for LLC’s/Partnerships. Any tax not paid by this due date is subject to interest and penalties.

Please note that tax preparation services do not include tax planning services such as attempting to reduce your tax liability, entity restructuring, advisory services regarding your liability and potential savings, etc. This is a separate service with a separate fee structure, and requirements.

 

Payment Information

For Income Tax Filings

We accept all major credit cards. We also accept checks and direct debits from your bank account on a case-by-case basis. Please be assured that no charges will be made to your credit card or other accounts without prior notification. All charges for tax return preparation are due and payable prior to the release or filing of your return. You will be contacted if any additional charges apply to the basic rate for your approval.

A monthly finance charge of ten percent (10%) applies to overdue accounts. There will be a three percent (3%) increase in pricing every January 1st due to inflation. In the event that any collection action is required to collect unpaid balances due us, you agree to reimburse us for our costs of collection, including attorneys’ fees.

For recurring bookkeeping/Payroll

Ongoing bookkeeping services will be billed on a monthly basis, and due upon receipt. Any additional accounting services or tax services requested will be billed separately. All invoices will be automatically paid on the first. Client is responsible to ensure funds are available. Invoices must be paid before the next period’s work can proceed, unless other arrangements have been made in advance.

A monthly finance charge of ten percent (10%) applies to overdue accounts. There will be a three percent (3%) increase in pricing every January 1st due to inflation. In the event that any collection action is required to collect unpaid balances due us, you agree to reimburse us for our costs of collection, including attorneys’ fees.

Other Items of Importance

Additional Services

You may request additional services not included in your Agreement. If this occurs, we will contact you in writing to discuss the additional cost. Items will be billed at our rate.

Documents required

To complete the bookkeeping services noted herein, Emerald Expectations Accounting must obtain the following documents. The required documents include, but are not limited to:

  • All business bank, credit card, loan and line of credit statements for the period (or logins).

  • Verification documents, as requested (deposit slips, invoices, check stubs, receipts, etc.).

  • Receipts for business related purchases paid with personal funds.

  • Compensation Recap & Deduction statements.


To complete the payroll services noted herein, Emerald Expectations Accounting must obtain the following documents. The required documents include, but are not limited to:

  • Bank account information for direct deposit and tax payments.

  • Employee information including W4s, Direct Deposit, etc.

  • Prior payroll information, as needed

  • Tax account numbers, contribution rates, and logins to access accounts


To complete the income tax services noted herein, Emerald Expectations Accounting must obtain the following documents. The required documents include, but are not limited to:

  • All income documentation including all W2s, 1099s (all types), non-documented income, etc.

  • All deduction documentation including mortgage interest, property tax receipts, charitable contributions, sales tax receipts, etc.

  • Spouse and dependent information

  • Business income and deductions

  • Other owners involved in your business


Termination of services

This Engagement Agreement may be terminated for any reason by either party with not less than thirty (30) days written notice. Emerald Expectations Accounting shall be compensated for services performed and expenses to the date of termination upon receipt of the final invoice. If we elect to terminate services for nonpayment, or due to failed contact attempts, our Engagement will be deemed to have been completed upon written notification of termination, even if we have not completed all items within the scope of this Engagement. You will be obligated to compensate Emerald Expectations Accounting through the date of termination.


Important items regarding your taxes

You are responsible for the proper recording of financial activities and for the substantial accuracy of your records. We will make inquiries regarding questionable expenses, and will have final say on the deductibility. The law imposes various penalties when taxpayers underestimate their tax liability. Assistance may be provided for future years, if this service is requested. We recommend you retain all documents, cancelled checks, receipts and other data that form the basis of income and deductions for at least 3 years after filing your return. 

You have final authority and responsibility over your tax filing. It is very important that you review and approve your tax filing upon receipt. Though we are not responsible for penalties incurred due to errors in you filing, we will correct our filing errors at no additional cost.

Please note the following policies are in effect:

  • No tax return or related information will be released until the invoice has been paid.

  • There will be a non-deductible $25.00 late fee if an invoice exceeds 30 days past due. An additional $25.00 late fee for each additional month past due will be applied.

  • If payment is not received by the due date, the unpaid balance may be subject to Ten Percent (10%) per annum, collection charges, court costs and reasonable attorney fees.

  • Any dishonored check may be subject to a $25.00 returned check fee.

Sending our office information – Please do not send originals. Scan in your data and email or send photo copies via mail. There will be an additional charge of $2 per page for photocopying original documents and exact postage for mailing back to you. 


duration of agreement

The terms listed here will remain in effect from year to year unless amended in writing and signed by both parties. You agree that you are entering into this Engagement Agreement of your own free will. If, after full consideration and consultation with counsel if so desired, you agree that the foregoing terms shall govern this engagement, please sign a copy of this letter and return to Emerald Expectations Accounting, keeping a fully-executed copy for your records.

Engagement responsibilities

It is our responsibility to perform bookkeeping services correctly and according to Generally Accepted Accounting Principles, and the information that you provide. The services provided under this engagement are not designed to detect fraud or error. We are not responsible for the accuracy or completeness of the information provided to us. However, we may ask for clarification on some information, and point out items of concern, if noticed.

Expectations of the Client

The client agrees to provide the documentation listed in this Engagement Agreement on a monthly basis. This will enable us to provide you with current, meaningful and useful financial information. Any failure to provide such documentation and information on a timely basis will impede our services and may require us to suspend our services or withdraw from the engagement. We will make three attempts to contact prior to suspending services – services will be suspended until communication is re-established. You agree to accept responsibility for any effect on your accounting records that may occur due to any information not submitted to us for processing and entry, or losses that may result from their absence. 

The client agrees to submit payroll information four (4) business days prior to pay dates. All employee information, payroll amounts, and additions should be included. Any information not provided in this time frame may not be accepted and could delay payroll processing. 

It is the client’s responsibility to retain and review all documentation, cancelled checks and other data that form the basis of your income and deductions. These will be necessary to prove the accuracy and completeness of the figures in the event of a review by any state or federal tax entity. The client has the final responsibility for their financial records, and therefore, they should review their financial information carefully after it is provided to them for accuracy and completeness. In addition, the client is responsible for ensuring that their entity complies with applicable laws and regulations. It is recommended that the client also establish and monitor internal controls to deter and detect fraudulent activity. Client agrees to keep all terms and rates of this engagement confidential to outside parties. If at any time, client breaches this agreement, this engagement can become null and void at the option of Emerald Expectations Accounting by giving a 30-day written notice to client.


Late fees and interest

There will be a three percent (3%) increase in pricing every January 1st due to inflation. In the event that any collection action is required to collect unpaid balances due us, you agree to reimburse us for our costs of collection, including attorneys’ fees.


dispute resolution

In order to complete our Engagement, we will require access to certain personal information. You hereby represent to us that you have obtained all consents that are required under applicable privacy legislation for the collection, use and disclosure to us of personal information. We will manage all personal information in compliance with all privacy laws. 

Any disputes arising out of this Engagement, except actions by us to enforce payment of our professional invoices, must be filed within one year from the accrual of the cause of action, and must be resolved through mediation. In the event of accusations brought against us, any judgment you obtain shall be limited in amount, and shall not exceed the amount of the annual fee charged by us, and paid by you, for the services set forth in this engagement letter. All mediation expenses shall be split equally between involved parties.


Income tax audits and subpoenas

There is always a possibility that your returns may be selected for review by taxing authorities. Any proposed adjustments by the examining agent are subject to certain rights of appeal. In the event of such government tax examination, we will be available, upon request, to represent you. There will be additional charges for the time and expenses incurred. 

 If we conclude that we are obligated to disclose a particular position on your tax return to a taxing authority and you refuse to permit disclosure, we reserve the right to withdraw from the engagement. You also have the right to choose another professional to prepare your return. In either event, you agree to compensate us for our services to the date of the withdrawal. 

 All invoices are due and payable upon completion of the income tax return. Filings will not be provided until payment is received. It is agreed and acknowledged that failure to make payment as provided by this Engagement Letter constitutes a breach of this Engagement Letter and shall immediately be entitled to all remedies available under the law. It is agreed and acknowledged that this shall be governed by the laws of the State of Missouri and that venue shall be St. Charles County. 

All engagements do not include any services not specifically stated in agreement.