Client Portal Announcement
The firm has transitioned to our new secure file sharing and collaboration platform, Liscio. If you are a current client*, you will receive, or have received, an invitation to log into these services. This new platform provides mobile apps that can be downloaded to your smart phone to easily scan and share documents, complete tasks such as providing signatures, and securely communicate sensitive information with the firm. You will no longer to be able to access our former platform, SmartVault, after November 4, 2021. If after this date, you have not yet received your invitation to Liscio or are no longer a current client* and need access to documents that had been available on the SmartVault platform, please call the firm at 586-239-0490 to discuss your needs.
*Current Client is defined as any individual or entity that the firm has rendered services to in the most recent two (2) year period.
Document Retention
FIRM POLICY – The firm maintains a “clean desk” policy and stores physical documents and media containing personally identifiable information (PII) on our premises under lock and key when not in use for up to the most recent seven (7) year period from the date of delivery. The date of delivery is the communication date in the case of reports, email, and/or other transmissions. In the case of tax compliance filings, it is the earlier of the due date of the filing including extensions or the filing date. After a retention period has lapsed, documents are destroyed and disposed of. The firm may also store electronic files containing PII on computers and media storage devices in addition to Liscio, the firm’s secure portal service, for the same seven (7) year period. This policy may be changed without notice.
Electronic media is encrypted at rest and in motion, secured, password protected, and monitored to prevent viruses, data breaches, and unauthorized access. After a retention period has lapsed, electronically stored information is scrubbed and deleted. The firm’s premises are secured and monitored by ADT, a leading provider of security solutions. Law enforcement and the fire department are located 0.2 miles from our premises.
RECOMMENDATIONS – It is a good policy that our clients save copies of their tax returns and supporting schedules indefinitely.
The IRS requires record retention as long as they are important for Federal Tax Law. Generally this means:
* Three (3) years from the date the return is filed, or
* Two (2) years from the tax payment date, or
* Six (6) years if income is under reported by more than 25%
(whichever is later)
Keep all bank statements, checks, receipts and other financial records for at least three (3) years, especially those documents that will support your tax return calculations. Note that every state but California and New York have a five year (60 months) Medicaid look-back period regarding asset transfers. California and New York Community Medicaid is 30 months.
Hold indefinitely:
* All information that deals with any purchase, sale, and major improvement of your current and all previous principal residences
* All records needed to establish basis in investments such as non-deductible IRA contributions and stock purchases and splits
Privacy Policy
YOUR PRIVACY is important to us. The firm is committed to acting as a responsible steward of data and personal information. Our commitment to this includes:
The protection of personal, non-public information we collect about you that has been derived from the following sources:
- Interviews regarding your tax situation
- Applications, organizers, tax preparation worksheets and any other documents that you may have provided for use in preparing tax returns or rendering accounting, management advisory, and/or web presence services
- Documents that supply such information as your name, address, telephone number, Social Security Number, number of dependents income, and other tax-related data
- Tax-related documents you provide that are required for processing tax returns, such as Forms W-2, 1099R, 1099-INT, and 1099-DIV, and stock transactions
- Information we receive from a consumer reporting agency.
No personal information will ever be disclosed about you to anyone, except that which is already public or permitted by law, except as requested by our clients or as required by law.
Should you close your account with us, or become an inactive client, we will continue to adhere to the policy regulations as written here.
The information you give us about your personal or business records is reserved only for our employees who need to know in order to service your account.
Procedural physical and electronic safeguards are maintained in compliance with Federal standards regarding non-public personal information.
We are committed to retaining your confidence, and want to assure you that any information you give us remains safe and confidential.
Please feel free to contact us if you have any questions concerning this policy.