Oklahoma accounting independent contractor agreement template

Oklahoma Accounting Independent Contractor Agreement

This Oklahoma Accounting Independent Contractor Agreement (the “Agreement”) is made and entered into as of [Date] by and between:

Client: [Client Name], located at [Client Address], Phone: [Client Phone], Email: [Client Email]

Independent Contractor: [Contractor Name], located at [Contractor Address], Phone: [Contractor Phone], Email: [Contractor Email]

1. Scope of Services

Option A: Bookkeeping Services

• Maintaining general ledgers
• Reconciling bank accounts
• Preparing financial reports
• Managing accounts payable and receivable

Option B: Financial Statement Preparation

• Preparing balance sheets, income statements, and cash flow statements according to GAAP.
• Compilation or review services

Option C: Tax Services

• Preparation and filing of Oklahoma state and federal tax returns.
• Tax planning and consulting services.

Option D: Payroll Processing

• Calculating and processing payroll, including tax withholding and reporting.

Option E: Other Services

• [Description of Other Services]

2. Deliverables and Deadlines

Option A: Reporting Frequency

• Monthly
• Quarterly
• Annually

Option B: Reporting Format

• Electronic (PDF, Excel)
• Hard Copy

Option C: Deadlines

• Specific deadlines for each deliverable will be agreed upon and documented separately in a project schedule. [Project Schedule Location]

3. Work Location

Option A: Remote

• The Independent Contractor will perform the services remotely.

Option B: Client's Premises

• The Independent Contractor will perform the services at the Client's premises located at [Client Address].
• Access to client records will be provided as needed.

Option C: Designated Office

• The Independent Contractor will perform the services at a designated office located at [Office Address].

Option D: Travel Reimbursement

• Travel expenses, if any, will be reimbursed according to Oklahoma state guidelines at a rate of [Rate] per mile or actual expenses upon submission of receipts.

4. Fees and Payment

Option A: Hourly Rate

• The Independent Contractor's hourly rate is [Hourly Rate].

Option B: Per-Project Quote

• Fees will be quoted on a per-project basis, as outlined in a separate project proposal.

Option C: Flat Retainer

• The Client will pay a flat monthly retainer of [Retainer Amount].

Option D: Invoicing Standards

• Invoices will be submitted [Frequency], and include a detailed description of services performed.
• Payment is due within [Number] days of invoice date.
• Oklahoma sales tax [Applicable/Not Applicable]. If applicable, the rate is [Tax Rate].

Option E: Late Fee

• A late fee of [Percentage]% per month will be applied to overdue invoices.

5. Ownership and Intellectual Property

All accounting records, work product, client financial information, data, software, and reports are the exclusive property of the Client.

Upon termination of this Agreement, the Independent Contractor will immediately return or destroy all such materials in accordance with Oklahoma data privacy laws.

6. Confidentiality

The Independent Contractor will maintain the confidentiality of all client information, including financial data, client lists, tax records, and trade secrets, in accordance with the Oklahoma Uniform Trade Secrets Act.

The Independent Contractor will not disclose any confidential information to third parties or use it for any purpose other than performing the services outlined in this Agreement.

7. Independent Contractor Status

This Agreement creates an independent contractor relationship, and not an employment, partnership, or agency relationship.

The Independent Contractor is solely responsible for all Oklahoma and federal tax liabilities, including self-employment taxes.

The Independent Contractor is responsible for business registration, including filing with the Oklahoma Secretary of State if required.

The Independent Contractor is responsible for providing workers' compensation or unemployment insurance, if applicable.

8. Compliance with Oklahoma Board of Accountancy Rules

If the services provided include CPA-level work, the Independent Contractor will comply with all applicable rules and regulations of the Oklahoma Board of Accountancy.

This includes maintaining an active license, completing required continuing education, and maintaining liability insurance.

9. Professional Conduct

The Independent Contractor will maintain the highest standards of professional conduct, integrity, and adherence to Oklahoma state and AICPA ethical guidelines.

The Independent Contractor will disclose any conflicts of interest to the Client immediately.

The Independent Contractor will notify the Client immediately of any professional incapacity or disciplinary actions.

10. Data Access and Review

The Client has the right to access and review all data and work product created by the Independent Contractor.

The Independent Contractor will promptly communicate any discovered errors or fraud to the Client.

Documentation will be retained consistent with Oklahoma statutes and IRS guidelines.

11. Liability for Breach

The Independent Contractor is liable for any breach of this Agreement, including substandard work, late delivery, breaches of confidentiality, inaccurate filings, or data loss.

The Independent Contractor agrees to indemnify the Client against any losses, damages, or expenses arising from such breach, according to Oklahoma contract law standards.

12. Amendments, Waivers, and Assignment

Any amendments to this Agreement must be in writing and signed by both parties.

No waiver of any provision of this Agreement will be effective unless in writing and signed by the waiving party.

This Agreement may not be assigned by either party without the written consent of the other party, in compliance with Oklahoma law.

13. Governing Law and Dispute Resolution

This Agreement is governed by the laws of the State of Oklahoma.

Any disputes arising under this Agreement will be resolved in the state or federal courts located in Oklahoma.

Dispute Resolution Process:

• Negotiation
• Mediation
• Binding Arbitration

14. Termination

Option A: Termination Notice

• Either party may terminate this Agreement with [Number] days written notice.

Option B: Termination for Cause

• Either party may terminate this Agreement immediately for cause, including breach of contract or unprofessional conduct.

Option C: Final Payment

• Upon termination, the Client will pay the Independent Contractor for all services rendered up to the date of termination.

Option D: Return of Materials

• Upon termination, the Independent Contractor will immediately return all sensitive materials and handover accounting records and software to the Client.

15. Oklahoma Statutory Disclosures and Notices

The Client and Independent Contractor acknowledge that they are subject to the provisions of the Oklahoma Deceptive Trade Practices Act.

The Client will issue a 1099 to the Independent Contractor as required by the IRS.

The Client and Independent Contractor agree to comply with all applicable non-discrimination laws.

The Client and Independent Contractor will ensure the secure electronic storage and destruction of personal and financial data under Oklahoma data privacy laws.

16. Insurance

The Independent Contractor will maintain [Type of Insurance, e.g., general liability, errors & omissions (E&O)] insurance with a minimum coverage of [Amount].

Proof of insurance will be provided to the Client before the commencement of services.

17. Compliance with Anti-Money Laundering Regulations

The Independent Contractor will comply with all applicable anti-money laundering regulations and OFAC sanctions.

The Independent Contractor will perform client verification procedures as applicable.

18. Audit or Review Rights

The Client or an authorized agent has the right to audit or review the Independent Contractor's work under Oklahoma standards.

19. Force Majeure

Neither party will be liable for any failure to perform its obligations under this Agreement due to a force majeure event as defined under Oklahoma law.

The affected party will provide prompt notification and take reasonable steps to mitigate the impact of the force majeure event.

20. Survivability

The following clauses will survive the termination of this Agreement: Confidentiality, Indemnification, and Data Return Obligations.

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

____________________________

[Client Name]

____________________________

[Contractor Name]