Retirement Letter - Thoughts Please

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#1
CathysTaxes  
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This is a draft of a letter I will be sending out. Any suggestions are appreciated.

It is with a little bit of sadness that I inform you that <hubby> and I are retiring the accounting and bookkeeping services of CathysTaxes. We will still be preparing personal income tax returns.

COV19 has pretty much shut down the majority of services that were available for <special needs daughter>. I am now gearing up as a primary care giver and cannot devote the time that a small business needs.

Should you decide that you wish to keep your books yourself, I can consult with <wife> and show her how to use Quick Books or Microsoft Excel. I can also show her how to use the online service that I use for preparing the 1099s. I would be able to prepare your individual income tax returns. Should you decide to select a new accountant and tax preparer please note that federal privacy laws prevent me from talking to that person unless you provide written authorization allowing me to discuss <your business name> or your personal taxes with that person. I can provide that person with reports and/or Excel spreadsheets of your information. I can give that person an hour of consultation. After that, I would have to charge for my time.

I will be dropping off all of your papers and reports. I will phone first.

It has been a pleasure working with you all of these years. I wish you good health, happiness, and prosperity.
Cathy
CathysTaxes
 

#2
philly  
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Do you have the ability to sell some of your clients to a local firm ?

In any event Good Luck !
 

#3
CathysTaxes  
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Thanks Philly, I have two remaining business clients. The rest have closed, moved, etc. Not worth trying to sell.
Cathy
CathysTaxes
 

#4
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Since you only have two letters to send out, and since based on previous posts you have strong personal relationships with your clients, I'd probably call the client before sending a disengagement letter.
 

#5
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You might provide a couple references if you know of anyone local taking on new clients.
It's also usually helpful to outline any upcoming deadlines the client will need to meet with their new provider, such as the due date for sales/payroll tax filings, or the due dates for 1099s and W2s, etc.
 

#6
CathysTaxes  
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ReckedCPAEA wrote:You might provide a couple references if you know of anyone local taking on new clients.
It's also usually helpful to outline any upcoming deadlines the client will need to meet with their new provider, such as the due date for sales/payroll tax filings, or the due dates for 1099s and W2s, etc.

Luckily, I got rid of payroll years ago. One client has one 1099 and that's me. The other is the client from down under when it comes to 1099s, ie, giving me a years worth of receipts for a Christmas present but missing FEINs and addresses for his contractors, some who disappear and others who are very threatening and end up going out without FEINs on the forms. I can't recommended him to anyone. He has business associates, he can torment their accountants.
Cathy
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#7
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missingdonut wrote:Since you only have two letters to send out, and since based on previous posts you have strong personal relationships with your clients, I'd probably call the client before sending a disengagement letter.

I probably will.
Cathy
CathysTaxes
 

#8
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I know you feel bad for leaving clients out in the cold, but I would use more sparing words when it comes to a commitment to teach bookkeeping. I've too often promised things that I would later come to regret.

Perhaps add a reasonable time limit clause just like you mention when working with their new accountant?

If you feel yucky writing that, there's got to be some way to nicely word some sort of limit.
 

#9
CathysTaxes  
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Thanks.
Cathy
CathysTaxes
 

#10
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CathysTaxes wrote:Thanks.


I would only add the following but what you wrote is fine.....

It is with a little bit of sadness that I inform you that <hubby> and I will be retiring the accounting and bookkeeping services of CathysTaxes. Thankfully, we will still be preparing personal income tax returns.

COV19 has pretty much shut down the majority of services that were available for <special needs daughter>. I am now gearing up as a primary care giver and cannot devote the time that a small business needs.

Should you decide that you wish to keep your books yourself, I can consult with your new bookkeeper or designated person to help in the transition. I can also show them how to use the online service that I use for preparing the 1099s. I will be able to prepare your individual income tax returns. Should you decide to select a new accountant and tax preparer please note that federal privacy laws prevent me from talking to that person unless you provide written authorization allowing me to discuss <your business name> or your personal taxes with that person. I can provide that person with reports and/or Excel spreadsheets of your information. While likely not necessary, I can give that person an hour of consultation free of charge. After that, I would have to charge for my time.

I will be dropping off all of your papers and reports. I will phone first.

It has been a pleasure working with you all of these years. I wish you good health, happiness, and prosperity.
 

#11
philly  
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I would contact the client first by phone to explain the situation and then follow-up with a formal letter.
 

#12
ATSMAN  
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IMHO it is not prudent to take the responsibility to "teach" your client bookkeeping, payroll etc. when you are shutting down your business or disengaging. You just don't want them to have expectations that you can't do for whatever reason.

I would simply state that the books and records that you may have in your possession needs to be picked up by a date certain and if you want you could suggest a few firms (after speaking to them first) as a referral.

When I got rid of payroll processing, that is exactly what I did. Keep it business like and to the point. The taxpayer needs to make arrangements to find another provider. It is not your responsibility to find it for them.
 

#13
philly  
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It is not your responsibility to teach anyone.
 

#14
CathysTaxes  
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southparkcpa wrote:
CathysTaxes wrote:Thanks.


I would only add the following but what you wrote is fine.....

It is with a little bit of sadness that I inform you that <hubby> and I will be retiring the accounting and bookkeeping services of CathysTaxes. Thankfully, we will still be preparing personal income tax returns.

COV19 has pretty much shut down the majority of services that were available for <special needs daughter>. I am now gearing up as a primary care giver and cannot devote the time that a small business needs.

Should you decide that you wish to keep your books yourself, I can consult with your new bookkeeper or designated person to help in the transition. I can also show them how to use the online service that I use for preparing the 1099s. I will be able to prepare your individual income tax returns. Should you decide to select a new accountant and tax preparer please note that federal privacy laws prevent me from talking to that person unless you provide written authorization allowing me to discuss <your business name> or your personal taxes with that person. I can provide that person with reports and/or Excel spreadsheets of your information. While likely not necessary, I can give that person an hour of consultation free of charge. After that, I would have to charge for my time.

I will be dropping off all of your papers and reports. I will phone first.

It has been a pleasure working with you all of these years. I wish you good health, happiness, and prosperity.

Great changes. Thanks
Cathy
CathysTaxes
 

#15
CathysTaxes  
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philly wrote:I would contact the client first by phone to explain the situation and then follow-up with a formal letter.

Will do
Cathy
CathysTaxes
 

#16
CathysTaxes  
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ATSMAN wrote:IMHO it is not prudent to take the responsibility to "teach" your client bookkeeping, payroll etc. when you are shutting down your business or disengaging. You just don't want them to have expectations that you can't do for whatever reason.

I would simply state that the books and records that you may have in your possession needs to be picked up by a date certain and if you want you could suggest a few firms (after speaking to them first) as a referral.

When I got rid of payroll processing, that is exactly what I did. Keep it business like and to the point. The taxpayer needs to make arrangements to find another provider. It is not your responsibility to find it for them.

Thanks
Cathy
CathysTaxes
 

#17
CathysTaxes  
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philly wrote:It is not your responsibility to teach anyone.

Southpark's suggested to change that to consult. Thanks
Cathy
CathysTaxes
 

#18
ATSMAN  
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Good Luck Cathy in your new role.
 

#19
CathysTaxes  
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ATSMAN wrote:Good Luck Cathy in your new role.

Thanks!
Cathy
CathysTaxes
 


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