BEDROCK TERMS OF SERVICE
We strive to provide world-class service at a fraction of what traditional firms charge. The way we accomplish this is by utilizing our own highly efficient workflow process. This process requires complete cooperation and adherence to our policies and procedures. Your proposed fee is dependent on the following:
All invoices are due upon receipt, including annual tax returns. For tax returns and special projects, your account will be charged after the information is received and before we start working on the return and/or special project.
Online accounting access to all bank and credit card accounts. This does not mean sharing your username and password. It requires accessing your account and setting up [email protected], as well as your assigned accounting specialist with their own access. This allows for easy access to your information and the ability to connect your accounts to our accounting software.
If your bank/credit card company does not offer this service then you must upload your statements to your secure portal no later than the end of the following month your statement is available.
IE: Your 1/31 statement is due by 2/28
Prompt payment of your monthly invoice. This means no later than the 15th of each month. Setting up recurring ACH payments is the most desirable way to avoid late payments.
Communication with your accounting specialist. Unclassified transactions need to be explained as submitted. We can accomplish this in several ways including a spreadsheet with dropdown cells, direct phone calls, or Zoom meetings, whichever you prefer. You can work this out with your accounting specialist.
Keep personal accounts out of the process. We don’t need personal accounts to complete your tax returns.
Keep personal expenses out of your business. It’s not good business practice and opens the door to IRS scrutiny if audited.
Keep your accounts to a minimum. Each account you have requires monitoring and even if you have an inactive account we have no way of knowing if you decide to start using one of them so we must still ask for the information. This adds significantly to our time and costs.
You will be provided with quarterly financial reports. We suggest you review them as soon as ready and book a Zoom call with your accounting specialist. This will help keep your books accurate and up to date while providing you with an opportunity to ask questions about your tax status.
Year-end approval review and approval of your financials must be completed no later than 2/15. If not completed by that time an extension will be filed and a $125 fee will be charged for filing.
It is strongly advised that you create an account at www.irs.gov and download all prior tax transcripts. There are several formats and all have different benefits. The IRS has become notoriously inept at processing returns and having this information ready can be the difference in resolving an issue quickly and avoiding additional notices and tax penalties.
Provide your bank info to accept direct deposit for refunds and direct debit for payments. If your bank info changes you are responsible for notifying us.
Once a tax return is complete you are advised to review it for accuracy. Once we receive your electronic authorization to file, it is considered acceptance of the work as being complete and accurate. Any changes requested after acceptance will be subject to additional fees.
Once a return has been accepted it is considered as received and any fee disputes based on not receiving your product or service will be forfeited.
It is understood that we have little, if any control over the processing of returns by the Internal Revenue Service as well as state and local governments. Even IRS-accepted returns are not guaranteed to have been processed. Notices will be sent and it is your responsibility to notify us as soon as received. Upon receipt we will do whatever is required to rectify the situation including refiling of returns, requesting penalty abatements, etc.
In the event the IRS does not resolve the issue we will appeal to the Taxpayer Advocate on your behalf without further charges.
Electronic filing signatures must be signed and uploaded as soon as received. Without a signed approval we will not be able to file your returns.
Late fees of $25 per month will be assessed for not paying your invoices when due and for not submitting bank/credit card statements and other information when requested. These fees can easily be avoided if you follow our suggestions and stay on top of the financial side of your business.
Returned check fees are $100
If lateness is habitual we will revisit your proposal and make appropriate fee adjustments.
Most small businesses fail because they don’t have access to much-needed accounting and tax guidance. Our time-tested system has been proven over and over again to provide clarity and confidence to our clients.
It’s imperative that you follow our system because if you don’t our costs rise significantly because our system gets backlogged. It’s taken decades to perfect an accounting system that provides small business owners with low-cost, affordable access to world-class accounting and tax services.
We hope you take advantage of our system and that our relationship is long and fruitful.
Thank you!
Joe DiChiara, CPA
CEO
Bedrock Business Builders Corp.
