New Mexico accounting independent contractor agreement template

New Mexico Accounting Independent Contractor Agreement

This New Mexico Accounting Independent Contractor Agreement (the "Agreement") is made and entered into as of this [Date] by and between:

[Client Legal Name], located at [Client Address], Phone: [Client Phone Number], Email: [Client Email Address] (the "Client"),

and

[Contractor Legal Name], located at [Contractor Address], Phone: [Contractor Phone Number], Email: [Contractor Email Address] (the "Contractor").

1. Scope of Services

The Contractor agrees to perform the following accounting services for the Client (the "Services"):

• Option A: Bookkeeping services, including reconciliation of bank statements and general ledger maintenance.
• Option B: Financial statement preparation, including balance sheets, income statements, and statements of cash flow.
• Option C: Tax planning and filing, including compliance with New Mexico state and local tax laws, such as gross receipts tax (GRT).
• Option D: Payroll services, including processing payroll and filing related tax forms.
• Option E: Audit support, including preparing schedules and providing documentation to auditors.
• Option F: Other specifically defined accounting tasks: [Specific Description of Other Tasks]

The Services will include, but not be limited to: reconciliation, reporting, and consulting related to these tasks. The Contractor will comply with all applicable New Mexico regulations.

2. Deliverables

The Contractor shall provide the following deliverables to the Client:

• Option A: Financial reports in [Reporting Format, e.g., PDF, Excel].
• Option B: Tax returns and filings, including New Mexico Form CRS-1.
• Option C: Payroll reports.
• Option D: Other deliverables: [Description of Other Deliverables].

Deliverables shall be submitted via [Submission Method, e.g., email, secure portal] on or before the following deadlines: [Deadlines/Milestone Schedule]. Client updates/meetings shall be held [Frequency, e.g., weekly, monthly].

3. Work Location and Remote Access

• Option A: The Contractor will perform the Services remotely.
• Option B: The Contractor will perform the Services at the Client's designated New Mexico site: [Client Site Address].
  - The client will provide [Description of Equipment and Software Provided by Client].
• Option C: A combination of remote and on-site work.

The Contractor is responsible for maintaining data confidentiality and complying with New Mexico privacy laws.

4. Compensation

The Client shall compensate the Contractor as follows:

• Option A: Hourly rate of [Dollar Amount] per hour.
• Option B: Per task fee of [Dollar Amount] per task.
• Option C: Monthly retainer of [Dollar Amount] per month.
• Option D: Project-based fee of [Dollar Amount] per project.

The payment schedule is [Payment Schedule, e.g., bi-weekly, monthly]. Contractor must submit New Mexico-compliant invoices. Agreed business expenses will be reimbursed as follows: [Expense Reimbursement Terms]. The Contractor is responsible for collecting and remitting New Mexico GRT unless otherwise agreed in writing. Late payment penalties will be assessed as permitted by New Mexico statutes.

5. Independent Contractor Status

The Contractor is an independent contractor and not an employee of the Client. The Contractor is responsible for all self-employment taxes, gross receipts tax, federal, state, and local taxes, licenses, and insurance, including professional liability or errors and omissions coverage. The Contractor will not be eligible for any employee benefits.

6. Compliance with New Mexico Regulations

The Contractor will comply with all applicable New Mexico regulations governing accounting practice, including Board of Accountancy requirements, restrictions on holding out as a CPA if not licensed, obligations for record retention and protection as prescribed by New Mexico law, continued professional education if required, anti-fraud and anti-money laundering reporting obligations, and adherence to applicable industry codes of conduct.

7. Confidentiality and Data Security

The Contractor shall treat all client financial data and personal information as confidential. The Contractor shall follow New Mexico data breach notification rules. The Contractor shall not use or disclose third-party data. The Contractor shall maintain secure document storage and transmission methods. Upon termination of this agreement, the Contractor shall securely destroy or return all client records.

8. Intellectual Property and Work Product Ownership

All client documents, deliverables, and records prepared by the Contractor are the property of the Client, with the exception of Contractor’s pre-existing materials. This includes any rights or licenses for use of tools or templates.

9. Conflict of Interest and Non-Solicitation

The Contractor shall disclose any potential conflicts of interest. During and after the term of this Agreement, the Contractor shall not solicit the Client's employees or customers for similar services.

10. Non-Competition (If Applicable)

• Option A: Not Applicable. The parties agree that a non-competition clause is not required.
• Option B: The Contractor shall not compete with the Client within [Geographic Area] for a period of [Number] months/years after the termination of this Agreement. This clause is subject to New Mexico law regarding the enforceability of non-competition agreements for independent contractors.

11. Liability and Indemnification

The Contractor shall be liable for acts or omissions, including errors in accounting work, late or incorrect tax filings, breaches of confidentiality, or regulatory non-compliance. The Contractor shall indemnify the Client against losses resulting from the Contractor’s negligence or willful misconduct, to the extent permitted by New Mexico law. The Client shall indemnify the Contractor against losses resulting from inaccurate information provided by the Client.

12. Dispute Resolution

Any disputes arising under this Agreement shall be escalated to negotiation, then mediation, or arbitration. Arbitration shall follow the New Mexico Uniform Arbitration Act. Exclusive jurisdiction and venue for any legal action shall be in New Mexico state courts.

13. Termination

This Agreement shall commence on [Start Date] and continue until [End Date] or terminated as follows:

• Option A: Either party may terminate this Agreement with [Number] days written notice.
• Option B: The Client may terminate this Agreement immediately upon material breach by the Contractor. The Contractor may terminate this Agreement immediately if the Client fails to pay in accordance with section 4.

The Contractor shall finalize any open project/reporting for [number] days after the termination of this agreement.

Upon termination, all fees shall be settled, client data shall be returned, and all deliverables shall be completed or handed over.

14. Representations and Warranties

The Contractor represents and warrants that they are licensed and authorized to perform accounting services in New Mexico and that the Client has the authority to engage such services.

15. Assignment

The Contractor shall not assign their duties under this Agreement without the written consent of the Client.

16. Severability

If any provision of this Agreement is held to be unenforceable, the remaining provisions shall remain in full force and effect under New Mexico law.

17. Force Majeure

Neither party shall be liable for any failure to perform its obligations under this Agreement due to unforeseeable events beyond its reasonable control, as recognized under New Mexico law.

18. Entire Agreement and Amendment

This Agreement constitutes the entire agreement between the parties and supersedes all prior or contemporaneous communications and proposals, whether oral or written. This Agreement may be amended only by a writing signed by both parties.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

[Client Legal Name]

By: [Client Signature]

Name: [Client Printed Name]

Title: [Client Title]

[Contractor Legal Name]

By: [Contractor Signature]

Name: [Contractor Printed Name]

Title: [Contractor Title]