Online Access to Information. To the extent you provide our firm with access to electronic data via a local or online database from which we will download your trial balance or other information, you agree that the data is accurate as of the date and time you authorize it to be downloaded.
Online Access to Information. To the extent you provide our firm with access to electronic data via a local or online database from which we will download your tax or other information, you agree that the data is accurate as of the date and time you authorize it to be downloaded.
Online Access to Information. To the extent you provide our firm with access to electronic data via a local or online database from which we will download your trial balance or other information, you agree that the data is complete and accurate as of the date and time you authorize it to be downloaded. If we prepare your books or have ongoing access to your books, you agree that all relevant info regarding them has been disclosed to us. You agree to hold us harmless for any errors arising from inadequate or incomplete information in your books that we were not notified of. Changes in ownership. You are responsible for advising us of any changes in ownership, including the death of a partner, so we can properly reflect those on the tax returns.
Online Access to Information. To the extent you provide our firm with access to electronic data via a local or online database from which we will download your trial balance or other information, you agree that the data is accurate as of the date and time you authorize it to be downloaded. Partnership or LLC agreement. You should review your partnership (or limited liability company (“LLC”)) agreement with your attorney to ensure it meets your goals for the transfer of ownership and distribution of income. Often, partnership agreements do not address the transfer of ownership or may require updating as circumstances change. Allocation of Partnership Income and Expenses. You are responsible for verifying the accuracy of both the allocation of partnership income per the terms of the partnership agreement and the partnership income calculations used in the preparation of the tax returns. The Treasury Department has proposed new regulations under IRC §752, Treatment of Certain Liabilities, concerning transactions between partner and partnership, on the allocation among partners of partnership level debt and disguised sales under IRC §707, Transactions Between Partner and Partnership.
Online Access to Information. To the extent you provide our firm with access to electronic data via a local or online database from which we will download your trial balance or other information, you agree that the data is accurate as of the date and time you authorize it to be downloaded. Reasonable Compensation. You are responsible for determining the appropriate salary or wage to pay shareholders. If the IRS determines that the C Corporation made distributions in lieu of an appropriate shareholder salary or wage, the IRS may reclassify the payments. As a result of the reclassification, the shareholder and C Corporation may be responsible for employment taxes on the reclassified amounts in addition to penalties and interest.
Online Access to Information. To the extent you provide our firm with access to electronic data via a local or online database from which we will download your trial balance or other information, you agree that the data is accurate as of the date and time you authorize it to be downloaded. Changes in ownership. You are responsible for advising us of any changes in ownership, including the death of a partner, so we can properly reflect those on the tax returns.
Online Access to Information. To the extent you provide our firm with access to electronic data via a local or online database from which we will download your trial balance or other information, you agree that the data is complete and accurate as of the date and time you authorize it to be downloaded. If we prepare your books or have ongoing access to your books, you agree that all relevant info regarding them has been disclosed to us. You agree to hold us harmless for any errors arising from inadequate or incomplete information in your books that we were not notified of. Changes in ownership. You are responsible for advising us of any changes in ownership so we can properly reflect those on the tax returns. Tax basis schedules. You are responsible for maintaining tax basis schedules for shareholders. If you ask us to prepare these schedules, we will confirm this service in a separate engagement letter.
