Tax Tip – Documenting Advice and Decisions

Failing to document important information is a common mistake that often leads to claims. If it is not in writing, it may be presumed later in court that it didn’t happen. Juries and the public generally consider CPAs to be experts in documentation, and falling short of that expectation when faced with a liability lawsuit may be viewed as negligent and below the standard of care.

Client Assessment and Ongoing Evaluation

Client Assessment and Ongoing Evaluation

By evaluating all potential new clients and re-evaluating all current clients on a regular basis, at least annually, the firm is able to consider any factors or changes that might affect the professional relationship or cause an escalation into a crisis. Now is also good time to screen tax clients for potential problems. There is still time before tax season for a client to replace you in the event you decide to disengage.

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