invizibiz.biz & invizibooks Terms & Conditions
The Original Free Tax Return Guarantee
Our free tax return guarantee includes preparation of a defral form 1120, form 1120S or form 1065 for corporations, limited partnerships (LP's) or LLC limited liability companies (LLC's). If you subscribe to one or our services for an LLC that requires preparation of Schedule C on Form 1040, the these returns will be prepared as part of the service. Similarly, if the business is rental real estate titled in your individual name then preparation of Schedule E and 1040 will also be included. Finally, an individual can subscribe to our service without any business activity and preparation of Form 1040 will be included.
In addition we will prepare one state tax return, often referred to as the corporate return and most states. If you conduct business in more than one state requiring you to file multiple state tax returns then each additional state tax return beyond the home state or state of the corporation will be an additional charge.
We will prepare one local business privilege tax or mercantile tax return as commonly required by municipalities, townships or cities. These local returns often have a complex tax structure such as the city of Philadelphia, New York City and other similar cities. Similar to the state returns mentioned above if you conduct business in more than one municipality that requires filing of multiple municipal tax returns or local tax returns there will be an additional charge for each tax return beyond the first local return associated with your home state.
Tax Filings Not Included with invizibooks
The following types of taxes and tax compliance is NOT included in our service, but can be prepared for an additional service fee. These tax filings are not included in the invizibooks packages because businesses are only subject to these on a case by case basis.
Use and occupancy tax returns for real estate.
Sales tax returns for state and the local governments
Payroll tax service is included in the invizibooks service with Xero Accounting. There is no additional monthly payroll service fee up to 10 employees, however over 10 there is an additional charge. There will be a fee for the Federal, State and Local report preparation. If an accounting software other than Xero is used, a payroll service fee will apply.
Any franchise tax returns required in addition to the state corporate return will be an additional charge.
CPA coaching is included with smallbooks, premiumbooks and platinumbooks. All CPA coaching sessions shall be scheduled by you through timetrade or similar scheduling portal provided to you. Any cancellations or scheduled appointment changes shall also be booked through timetrade. This is a self-serve process and we will not schedule anything on your behalf through timetrade, emails or otherwise. If you schedule a coaching call, do not show up on the call and you failed to cancel or reschedule the call, then that particular coaching call is forfeited.
The call will start promptly on time and will end on time. The call starts exactly on the hour or the half an hour. The half hour call is exactly 27 minutes long to support the integrity of starting times will other coachees. The same holds true for one hour calls which last 57 minutes. We have to respect this timeframe to finish exactly on time for those calls that come before and after your call.
Expectations and Communication
Smallbooks services are performed a monthly basis. The work will be done at substantially the same time every month. You will receive a monthly email when the work is complete and available to you.
The same thing applies to premiumbooks except that books and records will be updated on a weekly basis on substantially the same day of the week. You will receive a weekly email when the work is complete and available to you.
Platinumbooks service will update books & records on a daily basis Monday through Friday. You will receive a weekly email when the work is complete and available to you.
For your convenience we may include links if applicable so you can login and see your current information.
Agree Upon Services
Other agreed-upon services will be performed based on a separate agreement. This can be special one-time projects outside the scope of the invizibooks packages or other work that is outlined in this agreement as not part of the invizibooks packages. We commonly refer to this as CPA 911 services. For example, if a client wants to subscribe a business to invizibooks starting with several years of prior history when there was no accounting system in place would require recreation of the accounting records resulting in an Agreed Upon Service under separate agreement. Another example is filing prior year’s tax returns.
Our accounting team packages, inviziteams, consist of the following. Please refer to invizibiz.biz/pricing for the fees related to these services. All other terms and conditions related to invizibooks service s apply except that communications consist of a 24 hour turnaround.
The smallteams consists of a part-time equivalent of 20 hours per week.
The premiumteams consists of a full-time equivalent of 40 hours per week.
The platinumteams consists of multiple full-time equivalents.
Request for Information
Any requests from the client for information will be dealt with and communicated upon during the time slot that is allocated to you based on your particular subscription plan. For example if your subscription is the smallbooks then the timeslot dedicated to you once per month will be the time during which these communications are processed and responded to. If our team does the work on the 27th of each month then the issues will be dealt with on the 27th and communicated at the end of that work session.
The same thing applies to premiumbooks except the timeslots would occur four times a month or once per week on substantially the same day. Therefore if we perform the work on Thursday of each week then we will deal with any information request on Thursday and respond accordingly by the end of the work session on Thursday.
The same thing applies to platinumbooks except the timeslots would occur daily. Therefore if we perform the work on Wednesday we will deal with any information request within 24 hours which may be on Wednesday or Thursday depending when the request is made. Saturday and Sunday do not apply to 24 hour responses, therefore an information request on Friday with be responded to in 24 hours as if the following day was Monday.
If you are enrolled in the inviziteams, accounting team packages, then your work is also performed on weekdays and responses to request for information will take place within 24 hours of when the request is received except for the Saturday and Sunday rule described above.
invizibiz uses or will use a ticket support system to track and respond to all requests for information or any other communication. This is best practices for tracking all communications and to archive any issues as complete. invizibiz email addresses will not be used for purposes of making any information or other service request after a client subscribes to the service. For example, any emails used to supply information, agreements via Docusign, etc will no longer be used for communications purposes when a prospective client subscribes to invizibooks and becomes an actual client. Any requests for information that do NOT abide by this policy will NOT be responded to except any auto generated email that restates the same policy.
Emails from the client to invizibiz:Any referral program notifications as outlined in the invizibiz Evangelist Referral Agreement if applicable, which requires the referring company to email notice of and information about a prospective client.
Emails supplied in your company's Unique vCard are used for a specific purpose. For example, if bill.com is part of your invizibooks package then you will be supplied a unique email used ONLY to forward bills and related correspondence. There may also be other similar email addresses depending your subscription.
Emails from invizibiz to the client:
By subscribing to one of our services you are agreeing to allow us to send you these communications. invizibiz may send emails with any or all of the following:
Weekly or monthly blog posts
Additional invizibiz service offerings
Updates to the terms & conditions or referral agreement
Tips of the Week
Engagement emails that include a scenario and ask for feedback
Any other emails with free and valuable information
These emails are one directional and will NOT be responded to unless there is an engagement email specifically asking for feedback as described above.
Invizibiz email addresses used to communicate about the service or to respond to initial inquiries made through the website are used SOLELY for getting a prospective client to either subscribe to an invizibooks package or opt out of subscribing. Once a prospective client subscribes to the service and agrees to the terms and conditions, these emails will no longer be used and the Ticket Support System becomes the mode of communication as outlined in the agreement.
Negative Cash Flow
Our services are offered and the work is performed under the assumption that your company or group of companies have positive the cash flow. Our definition of positive cash flow is that cash receipts exceed cash disbursements at any time during the year. This means that any obligation, bill or liability that is due by your company can be paid by the due date with available cash resources. When cash resources are not available in sufficient amounts to cover any obligation, bill or liability when due then your company is considered to have negative cash flow.
Negative cash flow companies require intensive management therefore, invizibiz and invizibooks packages do not apply to negative cash flow companies as defined in this agreement. Due to the significant additional management required for negative cash flow companies, you and your company will have to pay for premium services that are over and above the standard posted fees as follows:
The intensive nature of managing negative cash flow results in daily review of bank accounts and books & records, therefore the premium upgrade for negative cash flow companies is as follows:
A company otherwise qualifying for smallbooks will be upgraded to premium books.
A company otherwise qualifying for premiumbooks will be upgraded to platinumbooks.
A company that otherwise qualifies for platinumbooks will be upgraded to the inviziteams accounting teams packages giving you daily support staff to work on your back office.
In addition, negative cash flow companies would require constant communication regarding issues with negative cash flow and how to manage it. The only way this can be done effectively by our team is to be upgraded to a service level that can support the management intensive nature of the negative cash flow.
You will be required to complete a questionnaire upon enrolling in our services. The questionnaire will vet your company situation to determine if you have a negative cash flow company under our definition as outlined in this agreement. If that questionnaire determined that you are negative cash flow company then you will be charged accordingly.
If the questionnaire is not answered completely and we later determine that you were a negative cash flow company then you will be automatically upgraded to the next service level as described above.
If your company subscribes to invizibiz as a positive cash flow company and later becomes a negative cash flow company under our definition then your account will also be upgraded to a premium service as described above.
If your company is otherwise a positive cash flow company but the structure of business entities, the bank accounts and credit cards, lines of credit or any other source of cash are inefficiently coordinated then your company could also meet the definition of a negative cash flow company subject to the terms herein. In other words, if cash has to be moved around like a shell game in order to pay any obligations, liabilities or bills when due then the management becomes as intensive as a negative cash flow company. The invizibiz process is designed to provide value for your company and for our team to work efficiently and effectively in delivering the value therefore we will recommend changes to your business design and architecture in the vetting process and during onboarding to operate and use resources in an efficient manner.
Tax Returns & IRS Circular 230
Tax returns will be prepared in accordance with best practices, IRS Circular 230 and by other laws and regulations. Nexus or the determination of where business is conducted for purposes of taxation is one of the most important concepts that determines how sales are allocated among states and municipalities. We will not compromise integrity in consideration of support a client’s desire to avoid compliance or tax liabilities in a certain tax jurisdiction. We reserve the right to withdraw from tax preparation that is part of the complementary service provided by invizibiz. However this does not mean that we will withdraw from the engagement entirely including the invizibooks subscriptions unless it is determined that client integrity will undermine our overall delivery of services.
Breach of Integrity
If we determine there is a severe breach of integrity we will withdraw from the client engagement entirely and notify you in writing. If we determine that we need to withdraw from the complimentary tax preparation then we will also notify you in writing and suggest that you hire another CPA firm for tax compliance. invizibiz will inform the client of the proper methodology that will keep the client and invizibiz within all bounds of the codes of professional conduct that we are subject to. Breaches of integrity arise when the client desires or continues to request work to be done in a manner that is in violation of any of our codes of professional conduct.
Tax notices can be triggered and issued from the federal government, state governments, municipalities, townships and cities for a variety of reasons including inefficient systems on the part of governmental agencies, general correspondence and random selection for audit among others. In addition, notices may be generated from prior years before engagement with invizibiz. These situations are beyond the scope of the engagement and have to be addressed under a separate engagement per codes of professional conduct. Alternatively, we have an affiliated arrangement with a third-party that specializes in resolving tax notices and related matters.
We will make every effort to file complete and accurate tax returns so that your business can remain in good standing and minimize notices and other letters. We will respond to notices that require a routine response or clarification which is usually the case.
We will not ask for or accept any account passwords, credit card information or bank account information via text or email. The only acceptable method of exchange for a password list is an excel or word file that is uploaded to a shared box.net, dropbox or similar account.
We will only perform invizibooks services by using a password management system. This will be set up from any password list supplied as described above. This is an enterprise level password management system that allows unique user logins as well as an admin panel for access controls. Therefore, staff members and client employees will not have direct access to account logins thereby reducing overall password management risk including the elimination of using spreadsheets.
Staff will perform basic bookkeeping functions and back office administration and may be comprised of employees or affiliated partnerships and vetted for qualification experience and competency. CPA's and senior staff person will review and oversee bank reconciliations, payments, customer invoicing, receipts, system maintenance etc. In addition a CPA or senior staff member will review and sign all tax returns.
A third-party payroll service will be used in all cases including the use of different service providers. They may or may not provide tax liability protection for any report preparation mistakes they make depending on the provider. Tax liabilities are ultimately the tax taxpayer's responsibility regardless of any mistakes or errors from a third-party payroll processor. These types of mistakes could cause significant interest and penalties because of the agency nature of the tax therefore be prepared to pay for any and all principal interest and penalties from mistakes of a third party preparer.
Existing File Structures
Any documents that we are responsible for archiving such as bank statements invoices correspondence letters etc. will be organized in a systematic file and folder naming system. These folders will be newly created top level folders that are not comingled with any existing file structure or folder structure.
We will seek to organize high level perm file documents such as articles of incorporation, operating agreements, EIN letters and similar documents and tax returns to name a few. Any other documents we may need from time to time to carry out our work and which are already buried within an existing file structure will be the responsibility of the client to identify the document and place it in a folder called "invizibiz file exchange". In other words we will not spin wheels searching endlessly for poorly named files and folders.
Validity and Entire Agreement
Any part of this agreement deemed invalid will not invalidate any other part of this agreement. This agreement constitutes the entire agreement and may be amended from time to time with notice given upon amendment.