To Our Clients:
5280 Bookkeeping llc
A. Types of Information We Collect
We collect certain personal information about you, but only when that information is provided by you or is obtained by us with your authorization. We use that information to prepare your personal income tax returns and may also provide various tax and financial planning services to you at your request. Examples of sources from which we collect information include:
- Interviews and phone calls with you,
- Letters or emails from you,
- Tax return or financial planning organizers, and
- Financial history questionnaires.
B. Parties to Whom We Disclose Information
As a general rule, we do not disclose personal information about our clients or former clients to anyone. However, to the extent permitted by law and any applicable Colorado Code of Professional Conduct, certain nonpublic information about you may be disclosed in the following situations:
- To comply with a validly issued and enforceable subpoena or summons.
- In the course of a review of our firm’s practices under the authorization of a state or national licensing board, or as necessary to properly respond to an inquiry or complaint from such a licensing board of organization.
- In conjunction with a prospective purchase, sale, or merger of all or part of our practice, provided that we take appropriate precautions (for example, through a written confidentiality agreement) so the prospective purchaser or merger partner does not disclose information obtained in the course of the review.
- As a part of any actual or threatened legal proceedings or alternative dispute resolution proceedings either initiated by or against us, provided we disclose only the information necessary to file, pursue, or defend against the lawsuit and take reasonable precautions to ensure that the information disclosed does not become a matter of public record.
- To provide information to affiliates of the firm and non affiliated third parties who perform services or functions for us in conjunction with our services to you, but only if we have a contractual agreement with the other party which prohibits them from disclosing or using the information other than for the purposes for which it was disclosed. (Examples of such disclosures include using an outside service bureau to process tax returns or engaging a records-retention agency to store prior year records.)
C. Confidentiality and Security of Nonpublic Personal Information
Except as otherwise described in this notice, we restrict access to nonpublic personal information about you to employees of our office and other parties who must use that information to provide services to you. Their right to further disclose and use the information is limited by the policies of this office, applicable law, our Code of Professional Conduct, and nondisclosure agreements where appropriate. We also maintain physical, electronic, and procedural safeguards in compliance with applicable laws and regulations to guard your personal information from unauthorized access, alteration, or premature destruction.
Thank you for allowing us to serve your accounting needs. We value your business and are committed to protecting you privacy. We hope you view 5280 Bookkeeping as your most trusted adviser and we will work to continue earning your trust. Please call us if you have any questions or if we can be of further service.
File Retention Policy
1. Existing client files are not subject to purging, except that at the end of each engagement, original client documents are returned to the client copies of key client documents are retained.
2. Former client files will be kept intact for five years after termination of the client relationship.
3. After five years have expired from the termination of the client relationship, all engagement files for that former client will be segregated into three categories…
- Original client records are to be returned to the former client.
- Essential files and summaries are to be put in a permanent file of reduced size, and retained.
- All other files are to be destroyed and discarded, preferably shredded.
4. Permanent files for former clients will be held for an additional three years, and then destroyed and discarded, preferably shredded.
Billing & Invoicing
Invoices unpaid 7 days past the billing date will be deemed delinquent, and are subject to an additional charge of 10% of the balance or $25.00 whichever is greater.
All invoices are Due at the time service is rendered and must be paid in full.
All invoices are Due at the time service is rendered and must be paid in full.
All monthly clients: All Invoice balances is due by the 7th, unless arrangements are made for extended billing dates.
Returned funds and NSF Fees:
Any funds returned to us for services rendered as NSF or DECLINED from the bank will incur a fee of $40 per NSF. NSF fees for Payroll services, including but not limited to payroll tax deposits or direct deposit of payroll checks or contractor payments will incur the fee(s) set in the payroll policy on this website.
We reserve the right to suspend our services or to withdraw from any engagement in the event that any of our invoices are deemed delinquent. 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.
Production of Records
In the event, we are required to respond to a subpoena, court order or other legal process for the production of documents and/or testimony relative to information we obtained and/or prepared during the course of this engagement, you agree to compensate us at our standard hourly rates then existing for
the time we expend in connection with such response, and to reimburse us for all of our out-of-pocket costs incurred in that regard.
Current hourly rate is listed here in at the rate of $55.00 per hour.
Record Destruction Policy
Destruction of documents is as important as their storage. Paper documents which are not to be retained in the firms 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 then 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 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 firms policy and even if no request has been made for them.
Payroll Client Customer Service Policy
This Client Payroll Service policy is between “Accountant” and “Client” regarding use of this service. In this Service Policy, the “Service” refers to the payroll service provided by this company; 5280 Bookkeeping llc and/or its agents, “you” or “Client” refers to the employer/client customer whose payroll is processed by the Service, and “Accountant” refers to 5280 Bookkeeping llc, who make the Service available to you. This Agreement includes related content on the website, such as the login page, which is incorporated by this reference. Accountant may decline to initiate the Service for you in the Accountant’s sole discretion.
- Permitted Uses and Restrictions on Use
The Service may only be used for its intended purpose of calculating payroll and its associated liabilities for your business or household, and for making related payroll and tax payments or tax filings electronically (if you or Accountant elect electronic payment or filing options). The Service also may be used for preparing and filing federal Form 1099-MISC for payments to contractors. Notwithstanding anything in this Agreement, Accountant has no responsibility or liability for damages or claims relating to any use of the Service other than as described above. The Service does not include calculation of deductions or taxes other than those that apply only to payroll, nor does it include backup withholding on payments to contractors, nor does it include calculation or reporting of penalties or interest on delinquent tax payments.
You are responsible for maintaining the confidentiality of your client User ID and password. If you grant access to your account to one or more additional users, you are responsible for ensuring that they maintain the confidentiality of their respective User IDs and passwords and comply with all terms and conditions of this Agreement. You are responsible for all actions taken on the Web site by someone duly logged into your account, whether or not authorized by you. You agree that your client User ID and password have the same effect as your written signature authorizing electronic payments, filings and other actions on the Web site. You may change your User ID and password at any time by following the procedure on the Web site, and we recommend that you do so from time to time. You agree to notify your Accountant immediately if you become aware of any unauthorized use of your User ID and password. You represent and warrant to your Accountant that you are authorized to use the Service on behalf of the business identified in your account (including authorization to make electronic payments or filings on behalf of the business, if applicable) and to make on behalf of the business the representations and commitments required of the business by this Agreement and the Web site.
The Service does not include obtaining your access to the Internet for connecting to the website. You acknowledge that the operation and availability of the communications systems used for accessing and interacting with the website (e.g., the public telephone computer networks and the Internet) or to transmit information to the taxing authorities can be unpredictable and may, from time to time, interfere with or prevent access to the website or its operation. Accountant is not in any way responsible for any such interference with or prevention of your use of or access to the website. When the Internet is not available, you must contact your Accountant by telephone or by other means for instructions on how to calculate paychecks and make tax payments and filings.
2. Electronic Transactions
You or Accountant may request direct deposit of employees’ or contractors’ paychecks, or you may request electronic payment of payroll taxes. Direct deposit and electronic tax payment options facilitate regular and typical payroll, contractor, and payroll tax payments. We reserve the right to delay or decline processing direct deposit or electronic tax payment transactions (i) that significantly differ, in our sole opinion, from your typical payment activity or volume of payment transactions, (ii) for which sufficient funds are not available in your account, (iii) that are otherwise in violation of this Agreement or the ACH rules (described below), or (iv) that, in our sole opinion, may pose a risk of loss to us.
To use these options, you or Accountant must input all required payroll information on the website before the cutoff time of 3:00 PM MST, two days before for the payroll payment date you choose. We may request and rely on information from you or other sources in order to verify your identity, the authorization of your instructions, and your creditworthiness. Subject to our right to require such verification, we will debit the bank account you designate for amounts payable after the cutoff time as described on the website. After that, no interest will accrue to the account holder. Typically, transactions will be sent through the Automated Clearing House (the “ACH”) Network. You agree your payment transactions will be governed by the ACH rules as in effect from time to time and that you will not initiate entries that violate the laws of the United States. You can learn more about the ACH at www. nacha.org. (NACHA – The Electronic Payments Association, develops operating rules and business practices for the ACH Network and for other areas of electronic payments.) You warrant to your Accountant’s ACH Originator everything that must be warranted as an ACH Originator, and you accept any liability you or your Accountant’s ACH Originator may incur which is caused by your electronic payment transactions.
You agree that we may request, obtain and use credit reports and other information about you from third party sources.
If you sign up for electronic payment options and amounts due cannot be collected because of insufficient funds in your account or any other reason, you must pay the amount due immediately upon demand, plus any and all exceptions processing fees and any bank fees or charges for return items incurred by Accountant and the Payroll Service, plus interest at the lesser of 18% annually or the maximum allowed by law, plus attorney’s fees and other costs of collection as allowed by law. In addition, Accountant may terminate the Agreement, discontinue the Service to you (either entirely, or only with respect to electronic payment options, in Accountant’s discretion) and utilize any other available remedy. Accountant may make appropriate reports to credit reporting agencies, financial institutions, tax agencies and law enforcement authorities, and cooperate with them in any resulting investigation or prosecution.
You hereby represent that you are the legal owner of your bank and other financial account data and that you have the authority to appoint, and hereby expressly do appoint, your Accountant and their payroll service provider as your agents with limited power of attorney to access and retrieve your bank and other financial account data on your behalf to provide the Service to you.
3. Federal and State Electronic Services and Electronic Debit Authorization
You understand that this authorization does not relieve you, as the taxpayer, of the responsibility to ensure that all tax returns are filed and all deposits and payments are made on time. You agree that 5280 Bookkeeping LLC and/or ADP, Inc is authorized to sign and file federal and state employment tax returns transmitted electronically (or in certain circumstances, submitted on paper). You agree that you have given your accountant the authority to authorize Agent to perform any other actions in order file state and electronic tax returns on your behalf. You certify that you have the authority to authorize the disclosure of otherwise confidential tax information.
Agent / Accountant is hereby authorized to instruct the IRS and/or the appropriate state/local agency to withdraw funds from the checking account on file in the amounts specified using ADP’s tax payment approval process to pay my federal and state payroll taxes. You agree that approval of all federal and state filings on the Service website will constitute your electronic signature declaring, under penalties of perjury, that you have examined each return (including any accompanying schedules and statements) and to the best of your knowledge and belief each is a true, correct and complete return. All of the foregoing authorizations will remain in full force until Agent or you terminate electronic services.
Agent/Accountant is hereby authorized to initiate debit entries to your checking account on file and to credit the same to that account. You acknowledge that Agent / Accountant will withdraw funds, in the amounts specified using ADP’s paycheck approval process, and transfer them to your designated employee and/or contractors accounts for the purpose of paying your employees and/ or contractors. In the event of an error, you hereby authorize ADP and/or Accountant to credit such account to offset the error.
4. Limited Warranty
Accountant warrants to you the accuracy of payroll tax calculations on each pay stub and tax filing prepared using the Service, subject to the following terms and conditions. As your sole and exclusive remedy and Accountant’s sole and exclusive liability for breach of the foregoing warranty, Accountant will pay all government penalties and interest assessed against you due solely to calculation errors made by the Service. This warranty does not apply to any assessments, penalties or interest resulting from, among other things, your use of the Service to process payroll data for which it is not appropriate, your failure to make and record payroll tax payments and filings in the manner and on the schedule recommended by the Service, your failure to enter on the website timely and accurate compensation information for your employees, your use of the Service to prepare pay stubs, tax payments, or tax filings based in whole or in part on payroll or tax payment information that you calculated or input incorrectly, or your failure to file an amended return or make an additional payment to avoid or reduce your penalty or interest after you have received notice from the government or your Accountant that you should do so. Accountant will endeavor to post on the website notices of corrections and updates to the Service or to notify you according to the contact information that you provide on the website, which you agree to update promptly with all changes.
In general, the Service calculates payroll taxes based on the assumption that wages paid to employees (but not payments made to contractors) are subject to all payroll taxes applicable to the indicated geographical area. For example, the Service assumes that each employer is subject to federal unemployment tax, although employers who did not pay wages of at least $1,500 in at least one calendar quarter this year or last year may be exempt. The Service guides you to make tax payments in full when due, although some tax agencies do not assess penalties for small payment shortfalls that are made up by the end of a reporting period. In some cases, you can customize the Service for situations such as those described above. In other cases, you may have to make adjustments outside the Service in order to take advantage of certain payroll tax exemptions. Accountant does not warrant that the Service will minimize your payroll taxes automatically.
If you believe you are entitled to payment under this warranty, you must notify your Accountant as soon as you learn of the mistake (and in no event later than 30 days after the assessment is made). You must include a copy of the government notice. By claiming payment, you authorize Accountant to obtain and review any data files that may be in Accountant’s possession or control in order to evaluate your claim. You remain responsible for paying any additional tax liability you may owe and providing assistance and additional information as reasonably requested by your Accountant. This warranty is for your benefit only and is not transferable, and will be null and void if you breach any terms or conditions of this Agreement.
Except as expressly provided above, the Service is provided “as-is” and, to the maximum extent permitted by applicable law, Accountant and its licensors, distributors, advertisers, dealers or suppliers disclaim all other warranties, express or implied regarding the Service and its related materials, including their fitness for a particular purpose, their quality, their merchantability, or their non-infringement. Accountant does not warrant that the website is completely secure or is free from bugs, interruptions, errors, or other program limitations. Accountant does not warrant that the website, or the server that makes it available, is free of viruses or other harmful components. You — not 5280 Bookkeeping — assume the entire cost of all necessary servicing, repair, or correction of problems caused by viruses or other harmful components. Some states do not allow the exclusion of implied warranties, so the above exclusions may not apply to you. In that event, any implied warranties are limited in duration to 60 days from the date of purchase of the Service. However, some states do not allow limitations on how long an implied warranty lasts, so the above limitation may not apply to you. This warranty gives you specific legal rights, and you may have other rights that vary from state to state.
5. Limitation of Liability
Except to the extent of the limited warranty described above, the entire liability of Accountant and its licensors, distributors, advertisers, dealers and suppliers for any reason shall be limited to the aggregate amount of payroll service fees paid by you to Accountant during the twelve (12) months immediately preceding the date on which the claim accrued. To the maximum extent permitted by applicable law, Accountant and its licensors, distributors, advertisers, dealers and suppliers are not liable for any indirect, special, incidental, or consequential damages (including damages for loss of business, loss of profits or investment, or the like), whether based on breach of contract, breach of warranty, tort (including negligence), product liability or otherwise, even if such person has been advised of the possibility of such damages and even if a remedy set forth in this Agreement is found to have failed of its essential purpose. Accountant and its licensors, distributors, advertisers, dealers and suppliers are not liable for any loss, erasure or corruption of or unauthorized access to any data or other information transmitted or stored via the Service. Some states do not allow the limitation and/or exclusion of liability for incidental or consequential damages, so the above limitation or exclusion may not apply to you.
The limitations of damages and liability set forth in this Agreement are fundamental elements of the basis of the bargain between you and your Accountant. You acknowledge and agree that Accountant would not be able to provide the Service on an economic basis without such limitations.
6. Amendment; Termination
Accountant may change the terms of this Agreement from time to time. Accountant will post the revised Agreement on the website. If a change to this Agreement is not acceptable to you, you may cancel the Service prior to the time when it takes effect. Continuing to use the Service constitutes agreement to all changes. Either you or Accountant may terminate this Agreement (either entirely, or only with respect to direct deposit or electronic tax payment options) for any reason or no reason by giving notice in accordance with the information then on the website, effective immediately. Reasons why Accountant may terminate this Agreement include, without limitation: (1) you fail to provide and update information that enables the Service to collect for electronic transactions, (2) any information you give is false, misleading or incomplete; or (3) you engage in conduct which, in Accountant’s judgment, interferes with the operation or use of the Service (e.g., excessive use of the Service which disrupts the use of the Service by other users). The “Limited Warranty,” “Limitation of Liability” and “Governing Law; Dispute Resolution” sections of this Agreement survive termination.
7. Governing Law; Dispute Resolution
This Agreement will be subject to and construed in accordance with the laws of the State of Colorado and jurisdiction shall rest with applicable Colorado courts. The parties agree and hereby irrevocably submit any suit, action or proceeding arising out of or related to this Agreement or any of the transactions contemplated by this Agreement to the jurisdiction and venue of the United States District Court District of Colorado or the jurisdiction and venue of any court located in Denver County, Colorado and waive any and all objections to jurisdiction and venue, unless the parties mediate or arbitrate their dispute as provided below. No action arising under or in connection with this Agreement, regardless of form, may be brought more than one (1) year after the cause of action accrued. The parties hereby agree to opt-out of any application of the Uniform Computer Information Transactions Act (UCITA), or any version thereof, adopted by any state.
8. Exemption Fees
|Quarterly Amended Returns||$150.00 per Return|
|Corrected W-2s||$35.00 per W-2|
|Direct Deposit Returned by Financial Institution.||$35.00 per Instance|
|Direct Deposit Reversal.||$45.00 per Reversal|
|Filing Fees for Reports After Termination||$50.00 Per Report|
|Base Fee for Year-end Corrections to State or Federal Forms (After February 28)||$300.00|
|Base Fee for Year-end Corrections to State or Federal Forms (Before February 28)||$200.00|
|Per Hour Fee for Year-end Corrections to State or Federal Forms (After February 28)||$75.00 Per Hour|