Honest & Transparent Fee Structure
Ethical Rules
The American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct provides comprehensive guidelines regarding fees to ensure ethical practices among its members. Key provisions include:
1. Contingent Fees
The AICPA prohibits members from charging contingent fees for certain services, particularly when performing audits, reviews, and other attest services. This restriction is in place to maintain objectivity and independence, as contingent fees could compromise professional judgment. For example, Rule 302 of the AICPA Code of Professional Conduct states that a member shall not:
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Perform for a contingent fee any professional services for, or receive such a fee from, a client for whom the member or the member's firm performs an audit or review of a financial statement; or
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Prepare an original or amended tax return or claim for a tax refund for a contingent fee for any client.
2. Commissions and Referral Fees
Rule 503 of the AICPA Code of Professional Conduct addresses commissions and referral fees received by CPAs. Generally, CPAs are prohibited from receiving a commission for recommending or referring to a client any product or service, or for recommending or referring any product or service to be supplied by a client, when the CPA also performs for that client an audit, review, or certain other attest services. This rule aims to prevent conflicts of interest and preserve the CPA's objectivity.
3. Fee Disclosures
Transparency in fee arrangements is essential. The AICPA Code requires members to disclose to clients any commission or referral fees received. This disclosure ensures that clients are aware of any potential conflicts of interest and can make informed decisions regarding the services they receive.
By adhering to these provisions, AICPA members uphold the profession's integrity, maintain public trust, and ensure compliance with established ethical standards.
Understanding Our Fee Structure
Tradepass International Tax LLC implements a transparent and predictable fee structure. After the first meeting with each prospective client, a free quotation is provided in advance to the client.
Upon signing the engagement letter, the client is billed an yearly retainer (minimum) fee of US$2,000 that includes 8 hours of professional services. Usually, that retainer fee is sufficient to cover yearly bookkeeping services, preparation of financial statements, and standard tax forms necessary for an holding company. Any additional services are billed separately at an hourly rate of US$ 300 per hour. Clients (current and prospective) always know beforehand if any additional work is required beyond the initial retainer fee.
Payment of Fees
Our fees are always expressed in United States dollars (US$) and can be paid via ACH, wire transfer, or credit card. The invoice breaks down the methods of payment.