Hawaii accounting independent contractor agreement template
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How Hawaii accounting independent contractor agreement Differ from Other States
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Hawaii employs strict criteria under both state law and the ABC test to define independent contractors, which can differ from federal or other state standards.
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Hawaii mandates certain business registration and General Excise Tax (GET) requirements for independent contractors, which are not necessary in all states.
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Employers in Hawaii must often provide workers’ compensation insurance for independent contractors, unlike in many other states where it isn’t required.
Frequently Asked Questions (FAQ)
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Q: Do I need to register my business in Hawaii to work as an accounting contractor?
A: Yes, Hawaii requires independent contractors to register their business and obtain a General Excise Tax license.
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Q: Does Hawaii require a written independent contractor agreement?
A: While not legally required, a written agreement is highly recommended to clarify the independent contractor relationship.
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Q: Are accounting independent contractors entitled to employee benefits in Hawaii?
A: No, independent contractors generally are not entitled to employee benefits like health insurance or paid leave under Hawaii law.
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Hawaii Accounting Independent Contractor Agreement
This Hawaii Accounting Independent Contractor Agreement ("Agreement") is made and entered into as of this [Date, e.g., January 1, 2024] by and between:
[Client Name], with a principal place of business at [Client Business Address], email address [Client Email], and phone number [Client Phone Number] ("Client"),
and
[Independent Contractor Name], with a principal place of business at [Independent Contractor Business Address], email address [Independent Contractor Email], and phone number [Independent Contractor Phone Number] ("Contractor").
Scope of Services
Option A: The Contractor shall provide the following accounting services to the Client: [Description of Accounting Services, e.g., Bookkeeping, Payroll Processing, Financial Reporting, Tax Preparation and Filing (State & Federal), Cash Flow Analysis, Audit Support, Consultation on Business Licensing and Local Excise Tax Compliance]. Specific industry/nonprofit tasks include: [Specific Tasks, e.g., Grant Reporting, Fund Accounting].
Option B: A detailed list of services, including deliverables, quality standards, deadlines, and reporting requirements, is attached hereto as Exhibit A and incorporated by reference. These services are limited to the scope defined within Exhibit A.
Option C: The services will be performed on an as-needed basis, as mutually agreed upon in writing. Each project will be detailed in a separate Statement of Work.
Work Location and Data Security
Option A: The Contractor will perform services remotely from [Contractor's Location].
Option B: The Contractor will perform services at the Client's business premises located at [Client Business Address].
Option C: The Contractor will perform services at a secure third-party site located at [Third-Party Site Address].
Data Security Protocols:
All original documents will be handled securely according to [Client/Contractor] protocols.
Remote access to accounting systems will be governed by [Client's/Specific] data security policies.
Time zone considerations will be [Hawaii Time/Specific Time Zone].
Compliance with client-specific data security protocols mandated by federal and Hawaii laws is required. Specific Protocols: [Specify Protocols].
Service Fees and Payment
Option A: Hourly Rate: The Contractor shall be paid at an hourly rate of [Dollar Amount] per hour.
Option B: Retainer Fee: The Contractor shall be paid a retainer fee of [Dollar Amount] per month.
Option C: Flat Fee: The Contractor shall be paid a flat fee of [Dollar Amount] per project/service.
Option D: Per-Service: The Contractor shall be paid [Dollar Amount] per [Type of Service].
Payment Schedule: Payments will be made [Weekly/Bi-Weekly/Monthly/Upon Completion]. Initial Deposit (if applicable): [Dollar Amount].
Invoicing Process: The Contractor shall submit invoices to the Client [Frequency, e.g., Bi-weekly].
Hawaii General Excise Tax (GET): The Contractor is responsible for all applicable Hawaii GET obligations. The GET will be [Included in the rate/Added to the invoice at 4.712%].
Reimbursement of Expenses: The Client shall reimburse the Contractor for reasonable and necessary out-of-pocket expenses pre-approved by the client in writing.
Late Payment Interest: Late payments will accrue interest at a rate of [Percentage] per month, as permitted by Hawaii law.
Intellectual Property and Work Product
All client data, accounting files, financial statements, and analysis reports are the property of the Client.
The Contractor shall comply with Hawaii Revised Statutes §466 regarding client record retention and confidentiality.
All work product created by Contractor in connection with this agreement is the sole property of the Client.
Confidentiality and Privacy
The Contractor shall maintain the confidentiality of all Client information, in accordance with the Hawaii Uniform Trade Secrets Act and federal GLBA requirements.
Upon termination of this Agreement, the Contractor shall return all Client data and materials.
The Contractor agrees to adhere to [Client's/Specific] privacy policy.
Independent Contractor Status
The Contractor is an independent contractor and not an employee of the Client.
The Contractor is not eligible for any Client benefits.
The Contractor is responsible for all self-employment and Hawaii state taxes.
The Contractor shall maintain professional liability insurance in the amount of [Dollar Amount].
The Contractor shall indemnify the Client from any tax or labor claims.
Professional Licensing
If representing as a CPA, the Contractor possesses a current Hawaii CPA license. License Number: [License Number].
The Contractor shall comply with all Hawaii Board of Public Accountancy regulations and continuing education requirements.
Liability
The Contractor is liable for service errors, missed deadlines, material misstatements, and breach of confidentiality.
Insurance Requirements: The Contractor shall maintain professional liability insurance coverage.
Limitation of Liability: The Contractor's liability is limited to [Dollar Amount].
Termination
This Agreement may be terminated:
Option A: Upon completion of services.
Option B: For breach of contract.
Option C: By either party with [Number] days written notice.
Upon termination, the Contractor shall return all Client records.
Dispute Resolution
Any disputes arising out of this Agreement shall be resolved through:
Negotiation.
Mediation in Hawaii.
Arbitration in Hawaii.
The exclusive venue for any legal action shall be in Hawaii courts. This Agreement shall be governed by the laws of the State of Hawaii.
Compliance with Hawaii Law
The Contractor shall comply with all applicable Hawaii laws and accounting industry regulations, including Hawaii Revised Statutes §481B (unfair and deceptive trade practices) and Hawaii income and excise tax regulations.
Data Security
The Contractor shall comply with federal and Hawaii cybersecurity and privacy regulations applicable to accounting and financial data.
The Contractor is responsible for breach notification and remediation costs under Hawaii law.
Recordkeeping
The Contractor shall maintain records in accordance with Hawaii's statutory retention periods for accountants.
Electronic records will be handled according to [Client/Contractor] protocols.
Assignment/Subcontracting
The Contractor may not assign or subcontract any services without the Client's prior written consent.
Any subcontractors must comply with Hawaii law.
Communication
Regular communication protocols will include [In-person meetings/Quarterly client updates/Etc.].
Additional Signatures/Disclosures
[List any additional required signatures or disclosures, e.g., Acknowledgment of Privacy Practices, Hawaii DCCA disclosures]
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
[Client Name]
By: [Client Signature]
Title: [Client Title]
[Independent Contractor Name]
By: [Contractor Signature]
Title: [Contractor Title]
