American Accounting & Tax, LLC – Terms of Service


Here at American Accounting & Tax (AA&T), we provide several services for your business needs. These services include Monthly Bookkeeping, Payroll, Quarterly Reports, Annual Reports, Tax Planning, Tax Returns, Tangible Personal Property Reports, and Business Consulting.

AA&T is responsible for properly securing client information and data. For more information on these procedures, please refer to our Written Information Safety Plan (WISP).

Total Bookkeeping Package

-Price Rate Minimum $150 per month. This service package includes Bank Reconciliations, Payroll, EFTPS, and Sales Tax.
-Clients with multiple reconciliation accounts and/or lengthy transaction records will be subject to a higher rate.
-Employee Federal Tax Payment Service (EFTPS) is due on the 15th of each month. Includes Federal Withholding, Medicare, and Social Security.
-Sales Tax is due on the 20th of each month.
-Please email all BUSINESS ACCOUNT statements (Bank(s), Credit card(s), etc) to our bookkeeper. If your financial accounts contain a mix of PERSONAL and BUSINESS transactions, please indicate or communicate which transactions are personal or for business purposes.
-Bookkeeping clients are responsible for providing the bookkeeper with their monthly statements EVERY month, in a timely manner. This is to ensure that your company’s books are as accurate as possible, and to avoid backlog.
-Bookkeeping clients are greatly encouraged to run ALL BUSINESS transactions through a business account(s). This ensures that all business-related transactions are accounted for, and maintains efficiency and organization for the client, bookkeeper, and tax accountant. Clients will submit cash receipts related to business activity for transactions that are not run through their bank or credit card accounts.
-Clear communication between the bookkeeper and bookkeeping clients is essential. Should the bookkeeper have any questions regarding the business’ financial activities (for example, loan information, transaction details, etc.), the client is expected to respond in a clear and timely manner. This is to ensure that your company’s books are as accurate as possible. Keep your bookkeeper up to date and aware of any new business activity.

Payroll and EFTPS Services

-This package is for clients who ONLY want our Payroll Services. This package includes EFTPS.
-Price Rates are as follows:
Less than 5 employees – $25
Between 5-10 employees – $35
More than 10 employees – $50+
-Services are either weekly or biweekly, and charged accordingly. For example, a business with 3 employees that are paid weekly will incur a total monthly charge of $100 ($25 x 4 pay periods). A business with 3 employees that are paid biweekly will incur a total monthly charge of $50 ($25 x 2 pay periods).
-Employee hours must be sent to our payroll department by 1:00pm every Wednesday.
-Overtime will be paid to any employee working over 40hrs a week.
-If employees receive tips, that amount must be turned in.
-EFTPS is due on the 15th of each month.

Quarterly and Annual Reports

-Price Rate begins at $70+ per report. Businesses with many employees will be charged a higher rate.
-Quarterly reports are filed April 30th, July 30th, October 30th, and January 30th.
-Annual Reports are filed April 1st.

Tax Planning

-Tax Planning season begins in October and lasts through mid-December.
-It is important that the business’ books (whether kept by our bookkeeper or an outside entity) be as up to date and accurate as possible at the time of tax planning. This allows us time for proper tax planning and helping you, our client, save as much as possible during the tax season.

Tax Returns

-Here at AA&T, we are authorized to file personal and business tax returns.
-Partnership, LLC, and S-Corp Tax Returns are due March 15th.
-Individual and C-Corp Tax Returns are due April 15th.
-If our client needs to file an extension, please let AA&T know no later than April 1st.
-Partnership, LLC, and S-Corp Extended Returns are due September 15th.
-Individual and C-Corp Extended Returns are due October 15th.
-AA&T is not responsible for any penalties if not told to file an extension by the client.
-Franchise & Excise Taxes are due April 13th.
As a business qualified by the Secretary of State to operate in Tennessee, you are required to register for and file a franchise and excise tax each year. You must file the franchise and excise tax return annually.
The minimum franchise & excise tax is $100.
-Business Tax
Most businesses that sell tangible personal property or provide services in Tennessee are required to register for business tax. In addition to registering with the Department, new businesses must acquire a business license from the local government where the business is located. Contact the offices of the county and city clerk for each business location to apply for the appropriate business licenses. Beginning in 2024, you are not required to file a TN business tax return if your gross income is less than $100,000 per year.
-Other Taxes
You may also be required to file other tax returns, depending on the type of business you are conducting. Please review our website to learn more about taxes the Department administers. Our tax expert will be glad to guide you through these processes.

Tangible Personal Property Report

– Price Rate $30
-Due March 1st
-Client will receive a notice around early January, once received send it to AAT so we can complete the paperwork.