Microsoft Word - 2023 tax year 1065 engagement letter

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Form1065–U.S.ReturnofPartnershipIncomeEngagementLetter

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[email protected] | (805) 296-7750 | pasoroblescpa.com

Mailing Address: PO Box 4220, Paso Robles, CA 93447

DearClient:

ThankyouforselectingmetopreparetheincometaxreturnsforyourPartnership.Iampleasedto

haveyouasaclientandlookforwardtoourcontinuedrelationship.Tominimizethepossibilityof

misunderstandingsbetweenus,thisletterconfirmsthetermsoftheengagementandthenatureand

extentoftheservicesIwillprovide.Youreceivedthisletterbecauseitismyunderstandingthatyou

arethepartnershiptaxrepresentative.Ifthatisnotcorrect,pleaseletmeknowwhothepartnership

representativeissothatIcancoordinatetaxreturnpreparationwiththatparty.

Iwillprepareyour2023federalandCaliforniaincometaxreturnsfromtheinformationyouprovide

tome.IwillperformtheservicesinaccordancewiththeStatementsonStandardsforTaxServices

issuedbytheAmericanInstituteofCertifiedPublicAccountants.Iwillfurnishyouwith

questionnairesand/orworksheetsasneededtoguideyouingatheringthenecessaryinformation.It

isyourresponsibilitytoinformmeofyourtaxfilingobligationsandprovidetheinformationrequired

forthepreparationofcompleteandaccuratereturns,includingallworldwideincome.Imayaskfor

clarificationofsomeitems,butIwillnotauditorotherwiseverifythedatayousubmit.Iwillnot

preparefinancialstatementsorperformvaluationsofanykind.Accordingly,myengagementcannot

bereliedupontodiscloseerrors,fraud,orotherillegalactsthatmayexist.

Yourreturnsmaybeselectedforauditbyataxingauthority.Intheeventofataxexamination,you

mayrequestthatIassistyouinrespondingtosuchinquiry.Suchadditionalservicesarenotincluded

inthisarrangementandwouldbebilledseparately.

Youshouldkeepalldocumentsandotherdatathatsupportyourreportedincomeanddeductions.

Youconfirmthatyourpersonalexpensesaresegregatedfrombusinessexpensesandexpensessuch

asmeals,travel,entertainment,vehicleuse,charitablecontributions,andrelatedexpensesare

supportedbynecessaryrecords.Thedocumentationmaybenecessarytoproveaccuracyand

completenessofthereturnstoataxingauthority.Myrecordsandfilesaremypropertyandnota

substituteforyourownrecords.

Managementisresponsibleforproperrecordingoftransactionsintheaccounts,safeguardingassets,

andfortheaccuracyofthefinancialrecords.Becauseyouhavefinalresponsibilityforthetaxreturns,

youshouldreviewthemcarefullybeforeyousignthem.Thisincludesverifyingtheaccuracyof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.Iamnotresponsibleforthe

disallowanceofdoubtfuldeductions,inadequatesupportingdocumentation,ortheresultingtaxes,

penalties,andinterest.Youagreethatyouwillnotandarenotentitledtorelyonanyadviceunlessit

isprovidedinwriting.

Additionally,youareresponsibleforprovidingallinformationnecessarytoidentify(i)allstatesand

foreigncountriesinwhichyou“dobusiness”orderiveincomeand(ii)theextentofbusiness

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[email protected] | (805) 296-7750 | pasoroblescpa.com

Mailing Address: PO Box 4220, Paso Robles, CA 93447

operationsineachrelevantstateand/orcountry.Youarealsoresponsibleformeetinganyforeign

countryincometaxorotherforeigncountryreportingrequirements.Pleasenote,failuretoreport

foreignactivitiesaresevere.Ifyouhadafinancialinterestinorsignatureauthorityoveraforeign

bankaccountatanytimeduring2023,pleaseletmeknowsoIcanassistyouindeterminingifyou

haveaseparatefilingrequirement.

AssistingyouwithyourcompliancewiththeCorporateTransparencyAct(“CTA”),includingbeneficial

ownershipinformation(“BOI”)reporting,isnotwithinthescopeofthisengagement.Youhavesole

responsibilityforyourcompliancewiththeCTA,includingitsBOIreportingrequirementsandthe

collectionofrelevantownershipinformation.Ishallhavenoliabilityresultingfromyourfailureto

complywithCTA.InformationregardingtheBOIreportingrequirementscanbefoundat

https://www.fincen.gov/boi.Considerconsultingwithlegalcounselifyouhavequestionsregarding

theapplicabilityoftheCTA’sreportingrequirementsandissuessurroundingthecollectionofrelevant

ownershipinformation.

Becauseoftheirspecialpurpose,nature,andformat,incometaxreturnsdonotconstitutefinancial

statementspreparedinaccordancewithgenerallyacceptedaccountingprinciples.Thetaxreturns

willbeusedonlyforincometaxpurposesandwillnotbeusedasasubstituteforfinancial

statements.Imayrendersuchbookkeepingservicesasarenecessarytoprepareyourreturns.

However,thisengagementisnottoactasyourbookkeeperorotherwisecreateormaintainyour

financialbooksandrecordsanddoesnotcreateafiduciaryrelationship.

Iwillnotprovideadvicetoyouwithrespecttotheclassificationofemployeesversusindependent

contractorstatusortheramificationsthereoffromataxoranyotherperspective.Ifyouhaveany

questionsregardingtheclassificationofemployeesversusindependentcontractorsoranyissues

relatedtheretoyoushouldconsultwithlegalcounselexperiencedinemploymentpracticematters.

Imayencounterinstanceswherethetaxlawisunclearorwheretheremaybeconflictsbetweenthe

taxingauthorities’interpretationsofthelawandothersupportablepositions.Inthoseinstances,I

willoutlineforyoueachofthereasonablealternativecoursesofaction,includingtherisksand

consequencesofeachsuchalternative.Intheend,Iwilladoptonyourbehalf,thealternativethat

youselectafterhavingconsideredtheinformationprovidedbyme,solongasitisconsistentwiththe

currentcodesandregulationsandtheirinterpretations.

TheoriginalfilingduedateforyourtaxreturnsisMarch15,2024.Itmaybecomenecessarytoapply

foranextensionofthefilingduedatesifthereareunresolvedissues,delaysinmyprocessing,orifI

donotreceiveallthenecessaryinformationfromyouonatimelybasis.Applyingforanextensionof

timetofilemaylimityourabilitytomakecertainelections,extendthetimeavailablefora

governmentagencytoundertakeanexaminationofyourtaxreturnsand/orextendthestatuteof

limitationstofilealegalaction.IfIapplyforanextensionoftimetofilebytheoriginalduedate,you

agreetoholdmyfirmharmlessfromanyconsequencesarisingfromanyelectionwaived.If

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[email protected] | (805) 296-7750 | pasoroblescpa.com

Mailing Address: PO Box 4220, Paso Robles, CA 93447

extensionsarefiled,alltaxesowedareduebytheoriginalfilingduedate.Additionally,extensions

mayaffectyourliabilityforpenaltiesandinterestorcompliancewithgovernmentalorother

deadlines.

TotheextentthatanyinformationthatImayprovidethepartners,whichisinitiallyobtainedfrom

booksandrecordsofthepartnership,formsthebasisofanyclaimbyoneormorepartnersagainst

PaulGonzalez,CPA,thepartnershipwillfullyindemnifyandholdmeharmlessforallcostsand

damages,includingreimbursementofmyprofessionaltimeandexpense,aswellasthefeesand

expensesofcounselincurredindefendingtheclaim.Myliabilityrelatingtotheperformanceofthe

servicesislimitedsolelytothedirectdamagessustainedbyyourcompany.InnoeventshallIbe

liablefortheconsequential,special,incidental,orpunitiveloss,damagesorexpensessufferedbythe

partnership(includingwithoutlimitation,lostprofits,opportunitycosts,etc.)oranythirdparty.

Notwithstandingtheforegoing,themaximumliabilityrelatingtotheservicesrenderedpursuantto

thisengagementshallbelimitedtothefeesreceivedbymeforthisengagement.Youagreeto

indemnifyandholdPaulGonzalez,CPAharmlessfromallclaims,liabilities,losses,andcostsarisingin

circumstanceswheretherehasbeenamisrepresentationbythepartnership,itsmanagement,

employees,oragents,regardlessofwhetherthatpersonwasactinginamanneradversetothe

partnership’sinterests.

ImaycommunicateconfidentialinformationbysendingdataovertheInternetorothersimilar

technology.Myfirmemploysmeasuresintheuseoftechnologydesignedtomaintaindatasecurity,

includingthetransmissionofsecurestandardmessagessentwithTLSencryptionwhenavailable,or

anemailwithasinglesecurelinkwhenTLSisunavailable.Asdatacanbeinterceptedandread,

disclosed,orotherwiseusedorcommunicatedbyanunintendedthirdparty,Icannotguaranteeor

warrantthatemailsfrommewillbeproperlydeliveredandreadonlybytheaddressee.Therefore,I

specificallydisclaimandwaiveanyliabilityorresponsibilitywhatsoeverfortheinterceptionor

unintentionaldisclosureofemailstransmittedbymeinconnectionwiththeperformanceofthis

engagement.Ifyoudecidetotransmityourconfidentialinformationtomeinamannerotherthana

secureportal,youacceptresponsibilityforanyandallunauthorizedaccesstoyourconfidential

information.

Imayutilizeasecureonlineportalpurelyfortheexchangeofsensitiveinformation;however,the

portalisnotintendedforthestorageofanyofyourinformationandyouareresponsiblefor

maintainingyourowncopyoftheinformation.Idonotprovidebackupservicesforanyofyourdata

orrecords,includingtheinformationIprovidetoyou.Theportalisutilizedsolelyasamethodof

transferringdataandinformationontheportalmaybedeletedbyme.

Inprovidingservicestoyou,Imayrequireinformationthatisconsideredconfidentialandmay

includePersonallyIdentifiableInformation(PII),i.e.informationthatcanbeusedtodistinguishor

traceanindividual’sidentitysuchasaddress,bankaccount,andSocialSecurityinformation.Itreatall

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[email protected] | (805) 296-7750 | pasoroblescpa.com

Mailing Address: PO Box 4220, Paso Robles, CA 93447

clientinformation,includingPII,asconfidentialandhaveadutytodosobasedonthestandards

promulgatedbytheAmericanInstituteofCertifiedPublicAccountantsaswellasapplicablelawsand

regulations.Youagreetoonlyprovidemewithinformation,includingPII,thatisnecessaryformeto

provideservicestoyouinaccordancewiththisAgreement.

Inthecourseofprovidingservicestoyou,youmayrequestreferralstoproductsorprofessionalssuch

asattorneys,brokers,orinvestmentadvisors.Imayidentifyprofessional(s)orproduct(s)foryour

consideration.However,youareresponsibleforevaluating,selecting,andretaininganyprofessional

orproductanddeterminingiftheprofessionalorproductmeetsyourneeds.YouagreethatIwillnot

overseetheactivitiesofandhavenoresponsibilityfortheworkproductofanyprofessionalorthe

suitabilityofanyproductIrefertoyouorthatyouseparatelyretain.Further,Iamnotresponsiblefor

anyservicesIperformthatfailtomeettheintendedoutcomesasaresultofrelyingontheservicesof

otherprofessionalsorproductsyoumayretain.

MyservicesunderthisAgreementdonotconstituteinvestmentadviceorlegaladvice.

Myfeeforthepreparationofyourtaxreturnswillbebasedontheamountoftimerequiredatmy

standardbillingrateof$210perhourpluscostsincurredfortaxsoftware,overhead,andother

ancillaryout‐of‐pocketcosts.Allinvoicesaredueandpayableuponpresentation.Totheextent

permittedbystatelaw,aninterestchargemaybeaddedtoallaccountsnotpaidwithinthirty(30)

days.Myserviceswillbeconcludedupondeliverytoyouofyour2023taxreturnsforyourreviewand

filingwiththeappropriatetaxingauthorities.

Whenprovidingservicestoyouoryourcompany,Iwillbefunctioningasanindependentcontractor

andinnoeventwillIoranyofmyemployeesbeanofficerofyou,norwillourrelationshipbethatof

jointventurers,partners,employerandemployee,principalandagent,oranysimilarrelationship

givingrisetoafiduciarydutytoyou.

MyobligationsunderthisAgreementaresolelytheobligationsofPaulGonzalez,CPAandnopartner,

principal,employee,oragentofPaulGonzalez,CPAshallbesubjectedtoanypersonalliability

whatsoevertoyouoranypersonorentity.

Eachpartyheretoagreesthatanyelectronicsignaturethatisintendedtoauthenticateawritten

signature,shallbevalid,andshallhavethesameforceandeffectasamanualsignature.Forpurposes

hereof,“electronicsignature”includes,butisnotlimitedto,ascannedcopyofamanualsignature,an

electroniccopyofamanualsignatureaffixedtoadocument,asignatureincorporatedintoa

documentutilizingtouchscreencapabilities,oradigitalsignature.Documentsmaybeexecutedin

oneormorecounterparts,eachofwhichshallbeconsideredanoriginalinstrument,butallofwhich

shallbeconsideredoneandthesameagreement.

Ifanyprovisionofthisletterisunenforceable,theremainingprovisionsshallbeenforcedtothe

fullestextentpossible.Notwithstandinganythingcontainedherein,bothaccountantandclientagree







[email protected] | (805) 296-7750 | pasoroblescpa.com

Mailing Address: PO Box 4220, Paso Robles, CA 93447

thatregardlessofwheretheclientisdomiciledandregardlessofwherethisAgreementisphysically

signed,thisAgreementshallhavebeendeemedtohavebeenenteredintoinSanLuisObispoCounty,

California,andSanLuisObispoCounty,Californiashallbetheexclusivejurisdictionforresolving

disputesrelatedtothisAgreement.ThisAgreementshallbeinterpretedandgovernedinaccordance

withthelawsofCalifornia.Ireservetherighttowithdrawfromthisengagementwithoutcompleting

thetaxreturnsforanyreason,including,butnotlimitedto,non‐paymentoffees,yourfailureto

complywiththetermsofthisAgreement,orasIdetermineprofessionalstandardsrequire.Ifmy

workissuspendedorterminated,youagreethatIwillnotberesponsibleforyourfailuretomeet

governmentalandotherdeadlines,orforanyliability,includingbutnotlimitedto,penaltiesor

interestthatmaybeassessedagainstyouresultingfromyourfailuretomeetsuchdeadlines.

Somestatesandlocaljurisdictionsofferread‐onlyortelephoneaccesstoinformationthatmaybe

helpfulinpreparingyourincometaxreturns,suchasdetailsofthedatesandamountsofincometax

paymentsandrealpropertytaxpaymentsmadeduringtheyear.Iusethisinformationtoverifyand

supplementtheinformationprovidedbyyou.Byyoursignaturebelow,youauthorizemetoaccess

thisinformationonyourbehalfforuseinthepreparationofyourincometaxreturns.Acopyofmy

PrivacyPolicyisincluded,asrequiredbytheFederalTradeCommission.

Toaffirmthislettercorrectlysummarizesyourunderstandingofthearrangementsforthiswork,

pleasesigninthespaceindicatedandreturnittome.WorkwillnotcommenceuntilIreceivethe

signedengagementletter.Iappreciateyourconfidenceandtheopportunitytobeofservice.

Sincerely,





PaulGonzalez,CPA



Client’ssignatureofacceptance:___________________________________Date:______________

     



Titleofsigningpartner:__________________________________________

