Policies

Billing Policy

A CPA firm sells a service, which is billed based on the amount of time, the level of knowledge, plus experience necessary to complete a particular engagement. We accumulate time for each staff member who works on an engagement/assignment. At the completion of each engagement(assignment), the principal reviews the charges to ensure that the correct fee is computed before an invoice is sent. All clients are billed quarterly for work in progress. If there is any unbilled completed work, an invoice will be sent. Quarterly bills normally go out in February, May, August, and November. Billing normally covers all charges through the end of the prior month. Costs such as computer usage charges, outside experts, extra copies, and shipping records are billed with completed job or at the quarter's end.

Our firm uses two fee schedules:

  1. Standard rates for professional services range from $150 to $195 per hour. These are for such services as yearly or quarterly financial statements, current year tax returns, quarterly payroll tax reports and other compliance-type tax or government reports.
  2. The alternative rates range from $150 to $250 per hour. These are for such services as tax advice, planning, and representation at the IRS i.e. appeals, audits or collections, resolving complex IRS problems, analysis and/or solving computer problems, estate planning, appearance in courts or deposition as expert witness, litigation support, assistance with the purchase or sale of a business, management consulting, profit maximization evaluation, preparation of prior year delinquent returns and other specialized services.

Bills are due and payable upon presentation. If fees are not paid, we reserve the right to suspend work. For all delinquent tax returns, our fees are due at pick-up. A delinquent return is any tax return that is past its normal due date plus applicable extensions.

Reply to tax or accounting questions: We will not respond to technical questions if your bill is more than 30 days in arrears. See below for more details concerning accounts in arrears.

 

Past-Due Account Policy

Accounts 30-days or more past-due (without prior arrangement) forfeit all supplementary privileges and services offered by this office, Nelson & Company, P.S., CPAs This includes but is not limited to:

Document Retention Policy

Information in an important asset to our firm. These policies apply uniformly to documents retained in either paper or electronic format. Our policy pertaining to the retention and destruction of email documents mirrors the policy for documents in other electronic or paper formats.

 

Documents to be Retained

We will retain firm business records to comply with Internal Revenue Service requirements. In relation to the professional services we provide, our policy is to retain documentation necessary to support our work (including opinions, resolution of differences, conclusions and research utilized in analysis), our correspondence with clients, our work product and items of continuing significance. Drafts or other documents not utilized should not be retained. Documents transmitted as attachments via email should be considered separately from the email messages to which they are attached. Original client records will be returned to clients and will not be a part of our ongoing files.

 

Procedures for Document Storage

Files are properly stored for easy retrieval and safeguarded. Documents attached to and transmitted by email are stored in an encrypted but readable format in our electronic document system. Email messages which contain information pertinent to the completion of tax returns or financial statements, such as a client's response to questions, are retained in compliance with the regulated period of time such retention is required.

 

Retention Periods for Document Categories

Accounting Records:

Administrative records

Time and charges information

Client Records

All clients should be notified in writing that the Firm's policy is to destroy files, and that they may request copies of any data contained therein subject to Firm approval.

Retention periods commence immediately following the date of the financial statements or the taxable year in the case of tax returns and work papers.


DESTRUCTION AND CONTROL

Destruction of documents is as important as their storage. Paper documents which are not to be retained in the firm's files must be shredded or incinerated if they contain confidential information or sensitive data. Any paper with a social security number, a federal ID number or a client name on it must be destroyed in this manner: never just dropped in the trash. Electronic documents are destroyed by deleting them from the medium on which they are stored, and the purging the medium itself. A written list of files (both paper and electronic) to be destroyed will be reviewed by each partner for clients with potential issues that may require a longer retention period. Any exceptions to the above retention policies must be approved by the Engagement Partner in writing on a document retention exception log and approved by the Managing Partner. Exceptions should be very limited and the reason should be clearly documented. A list of files destroyed will be maintained permanently. If we learn that a government agency is conducting an investigation into a client, or that a private litigation is pending or threatened (even if the firm is not directly involved), we will retain all relevant records, even if they are slated for destruction under the firm's policy and even if no request has been made for them.

If you have any questions regarding our data retention policy, contact us in writing (or email) and we will be happy to assist you. We are committed to safeguarding your privacy while retaining your records for your convenience.

The Small Print for the WEB:

THE FOLLOWING CONTAINS IMPORTANT INFORMATION REGARDING OUR CONCERN FOR PROTECTING YOU RIGHTS UNDER FEDERAL PRIVACY LAWS

We collect personal information about you and all our clients from the information you submit on our applications or other forms, and through information we obtain over the course of your business relationship with our affiliates, others, and us. In addition, we may, from time to time, receive information about you from a consumer-reporting agency.

Personal information is information that we collect from you that is not otherwise available from public sources. The categories of personal information we collect include the following;

NELSON & COMPANY, P.S. Certified Public Accountants Firm@DNelsonCPAs.com 07/01 NC-30

LEGAL NOTICE AND DISCLAIMER: The material provided in this WEB site is offered for informational purposes only and is not offered as and does not constitute advice. Nelson & Company, P.S., CPAs (hereafter Nelson & Company) does not endorse, approve, or certify all of the material present on this site, nor does it guarantee the accuracy, completeness, efficacy, timeliness, or correct sequencing of such material. Nelson & Company expressly disclaims all warranties, express or implied, including but not limited to any implied warranties of non-infrigement, merchantability and fitness for a particular purpose. No one should rely on this material or the accuracy, completeness, efficacy and timeliness. Consult your professional advisor before acting on any information you may receive here or elsewhere.

Nelson & Company, its officers, employees, authors, creators and agents assume no responsibility for consequences resulting from the use of the materials provided herein. Nelson & Company expressly disclaims all liability for damages of any kind arising out of the use or reliance on such material, including any and all liability based on the content of such material or any errors or omissions therein.

Certain material ("Third Party Material") may be posted on this WEB site by accountants and other authors unrelated to Nelson & Company. With respect to such Third Party Material, you agree to look solely to the individual or entity placing such Third Party Material on this WEB site and agree to hold Nelson & Company harmless from and against any liability stemming thereof, including but not limited to any liability based on the accuracy, completeness, efficacy, and timeliness of such material, defamatory or derogatory statements contained in such material, the violation of any copyright or other intellectual property rights, or the violation of property, privacy, or personal rights of others.

This WEB site may provide links to other WEB sites. Such sites contain material created, published, maintained, or otherwise posted by individuals or entities independent of Nelson & Company. Nelson & Company does not control these entities, nor does it approve, certify or control any material placed on these sites. By providing links to these sites, Nelson & Company does not guarantee the availability, accuracy, completeness, efficacy, timeliness or correct sequencing of materials located at such addresses. No one should rely on the accuracy, completeness, efficacy and timeliness of such material. Any reference made on this site or any site to which this site is linked to any product, process, technique or service does not constitute or imply Nelson & Company's endorsement or recommendation of that product, process, technique or service.

INTELLECTUAL PROPERTY: This site (and unless otherwise indicated, all posted or linked to material at this site) is copyrighted by Nelson & Company or its contributing authors. In no way does Nelson & Company claim copyright with respect to any work prepared by a US or state government officer or employee as part of that person's official duties or any work which is in the public domain or belonging to a contributor. This site, including all materials and elements contained or linked to herein, may not be reproduced, altered, publicized or transferred in any form or means without prior written consent from Nelson & Company or the material's copyright holder.

 

--Our Policies-- www.DNelsonCPAs.com

Nelson & Company, P.S., CPAs Since 1979

====NOTICE REQUIRED BY IRS====
Circular 230 Disclosure:
To ensure compliance with requirements imposed by the IRS, we inform you that (i) any tax advice contained in this communication (including any attachments) was not intended or written to be used, and cannot be used for the purpose of avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

 

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