Utah accounting independent contractor agreement template

Utah Accounting Independent Contractor Agreement

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

[Client Name], located at [Client Address] ("Client"),

and

[Contractor Name], located at [Contractor Address] ("Contractor").

Scope of Work

The Contractor shall perform the following accounting services for the Client:

• Option A: Bookkeeping services, including but not limited to:
  • Recording financial transactions
  • Reconciling bank statements
• Option B: Tax preparation services, including but not limited to:
  • Preparing federal and Utah state tax returns
  • Providing tax planning advice.
• Option C: Payroll processing services, including but not limited to:
  • Calculating and processing employee payroll
  • Preparing payroll tax returns.
• Option D: Financial statement compilation, including but not limited to:
  • Preparing balance sheets
  • Preparing income statements.
• Option E: Internal/External audits
• Option F: Compliance Reviews
• Option G: CFO/Consulting services
• Option H: Software-specific assignments (e.g., QuickBooks, Xero) - Specify software and assignment details.

All services shall be performed in accordance with generally accepted accounting principles (GAAP) and all applicable Utah state and federal laws and regulations. The Contractor shall ensure all deliverables are accurate, complete, and submitted within the agreed-upon deadlines.

Deliverables and Reporting

The Contractor shall provide the following deliverables:

• Option A: Monthly financial reports, including balance sheets and income statements.
• Option B: Quarterly tax filings, including federal and Utah state payroll tax returns.
• Option C: Annual tax returns, including federal and Utah state income tax returns.
• Option D: Other: [Specify other deliverables].

The Contractor shall submit the deliverables to the Client on or before [Date/Frequency]. Reports will be submitted in [Format] format. All reports must comply with Utah reporting requirements.

Place of Service & Access

• Option A: Services shall be performed remotely.
• Option B: Services shall be performed at the Client's office located at [Client Address].
• Option C: Services shall be performed at a third-party location: [Specify Location].

The Contractor shall have access to the following Client data and systems: [List of data and systems]. The Contractor agrees to comply with all Client policies regarding data security and confidentiality, including the requirements of Utah's Data Breach Notification Act.

Compensation

• Option A: The Contractor shall be compensated at an hourly rate of [Dollar Amount] per hour.
• Option B: The Contractor shall be compensated a fixed fee of [Dollar Amount] per deliverable.
• Option C: The Contractor shall be compensated on a retainer basis of [Dollar Amount] per [Frequency].
• Option D: The Contractor shall be compensated via commission: [Commission Structure].

The Contractor shall submit invoices to the Client on a [Frequency] basis. The Client shall pay all invoices within [Number] days of receipt. The contractor is responsible for all applicable Utah sales/use taxes and IRS 1099 filings.

Independent Contractor Status

The Contractor is an independent contractor and not an employee of the Client. The Client shall not be responsible for withholding taxes, providing benefits, or paying workers' compensation insurance for the Contractor. The Contractor is solely responsible for all self-employment taxes, workers' compensation, unemployment insurance, and any income tax liabilities, according to Utah Department of Workforce Services guidelines and IRS regulations.

Ownership and Confidentiality

All work product, accounting records, working papers, confidential information, and intellectual property created by the Contractor in connection with this Agreement shall be the sole property of the Client.

The Contractor agrees to hold all Client information confidential and not to disclose it to any third party. The Contractor shall comply with the AICPA Code of Professional Conduct, Utah licensing rules, and all applicable federal standards (like GLBA if applicable).

Professional Conduct

If the Contractor holds a CPA or other credential, the Contractor shall comply with all applicable rules and regulations of the Utah Division of Occupational and Professional Licensing (DOPL) and maintain continuing professional education as required.

Non-Solicitation/Non-Compete (Optional)

• Option A: Non-Solicitation: The Contractor agrees not to solicit any employees or clients of the Client for a period of [Number] years following the termination of this Agreement.
• Option B: Non-Compete: The Contractor agrees not to engage in any business that competes with the Client within a [Number] mile radius of [Client's Location] for a period of [Number] years following the termination of this Agreement. This provision is intended to be narrowly tailored and enforceable under Utah law.
• Option C: No Non-Solicitation or Non-Compete Clause.

Liability and Indemnification

The Contractor shall be liable for any breaches of this Agreement, including but not limited to late or substandard work, professional negligence or malpractice, disclosure of client or third-party data, or financial loss due to error. The Contractor shall indemnify and hold harmless the Client from any and all claims, damages, losses, and expenses arising out of or related to the Contractor's performance of this Agreement, within the limits set forth by Utah law.

Dispute Resolution

Any dispute arising out of or relating to this Agreement shall be resolved through good faith negotiation. If the dispute cannot be resolved through negotiation, the parties agree to mediate the dispute in Utah. If mediation is unsuccessful, the parties agree to submit the dispute to binding arbitration in a Utah venue. This Agreement shall be governed by and construed in accordance with the laws of the State of Utah.

Term and Termination

This Agreement shall commence on [Start Date] and shall continue until [End Date], unless earlier terminated as provided herein.

• Option A: This agreement will automatically renew for a term of [Duration], unless either party provides written notice of termination [Number] days prior to the end date.

Either party may terminate this Agreement upon [Number] days written notice to the other party.

The Client may terminate this Agreement immediately for cause, including but not limited to regulatory or ethical breaches by the Contractor.

Upon termination, the Contractor shall immediately return all Client property and confidential information.

Document Retention

Upon termination of this Agreement, the Contractor shall return all client documents and data to the Client. The Contractor shall retain copies of work papers in accordance with Utah DOPL regulations and industry standards. All document retention, return, and destruction requirements will align with Utah DOPL regulations and client industry rules.

Compliance

The Contractor shall comply with all applicable anti-fraud, anti-money laundering, and professional conduct standards as required under federal, state, and industry guidelines, referencing relevant Utah laws and IRS rules.

Subcontractors

• Option A: The Contractor shall not use subcontractors without the prior written consent of the Client.
• Option B: The Contractor is permitted to use subcontractors. The Contractor will remain fully liable for the performance of all subcontractors.
• Option C: Subcontractors are not allowed under this agreement.

Insurance

The Contractor shall maintain professional liability (errors & omissions) insurance with a minimum coverage of [Dollar Amount]. The Contractor shall provide proof of insurance to the Client upon request.

Notices

All notices under this Agreement shall be in writing and shall be deemed to have been duly given when delivered in person, sent by certified mail, or sent by email to the addresses set forth above.

The primary contact for the Client is [Client Contact Name] and the primary contact for the Contractor is [Contractor Contact Name].

Amendments

This Agreement may be amended only by a written instrument signed by both parties.

Non-Exclusivity

This Agreement is not an exclusive arrangement, and the Client may engage other accounting professionals. The Contractor may provide services to other clients.

Governing Law and Venue

This Agreement shall be governed by and construed in accordance with the laws of the State of Utah. The venue for any legal action arising out of this Agreement shall be in [County Name] County, Utah.

Licenses and Permits

The Contractor warrants that they possess all necessary Utah-specific licenses, permits, bonding (if applicable), and authority to perform the agreed services.

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

____________________________

[Client Name]

____________________________

[Contractor Name]