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9011 SW Beaverton-Hillsdale Hwy Suite 1-A Portland, OR 97225 P: 503-297-2610 F: 503-297-4311 Fostercpas.com July 13, 2023 Dear Clients, Hopefully, everyone is doing well and July 4 to we clarify a couple points from our previous messaging, and to update you on some of our recent . s Click Here for Index Clarificaons on Previous Leer .................................................................................................................... 2 Staff Departures ............................................................................................................................................ 3 Other Staffing Updates ................................................................................................................................. 3 Don’t be Alarmed if You Start Receiving IRS Noces. .................................................................................... 4 Employee Retenon Tax Credit (“ERTC”) ....................................................................................................... 5 I Best Regards, Managing Partner
2 Clarifica�ons on Previous Leter Le. We 1. “On one hand F&A said that it had a great year and things have improved, but on the otheryou also said that in spite of this improved performance, we were sll going to raise rates by10% to 15%. Why would you raise your rates if your performance is improving?. We did not justincrease focused on 2023 pricing increases for services, “…most common average percentage increase planned for pricing increases was 10% – 13%, – 9%. adjustments [vis a vis, 14% or more]. are warranted. Firms looking at only 6%-were trends s.our processes, we are developing a new customer service advocate team, we are diligentlyworking on a , 100% digital /paperless and working remotely and we expanded our team of dedicated self-employed US rs to expand . Hence, standpoint (and without regard to the cost of doing business), things went smootherexperience. referring to . 2. “If you are using a company from India, does that mean my tax return and personallyidenfiable informaon has been sent there?”determined e necessary, we explored ways to give ourclients an alternate, cost-rate increase so desired. We company Indian Under no circumstances did F&A7216)will only employClick Here for Index
3 project--project . Staff Departures Padge Business Services Accounngfly. In 2022, Inside Public Accounng May 2022, we -digits. unfortunately recently lost past , Doug and I simply grew apart; and to s ag, . W working previously managed. Unfortunately for ustremendously and sence n. Other Staffing Updates On Amanda Jones Jayme Harms joined us as an experienced Manager and • 19undergraduate and graduate degrees. We congratulate Luis,Click Here for Index
4 look forward to new team of interns will 2023. • I am pleased to announce Amanda Client Service Managerclient advocatesyou. capacity.• over from Doug.• Valerie will maintain will• Finally, and. We are also interviewing forDon’t be Alarmed if You Start Receiving IRS No�ces. On 02/09/2022inventory of unprocessed returns, amended returns and taxpayer correspondence. d . was/is informing w- Upon receipt, we ask that you send us copies of the front and back of every page so that we can advise you properly. Stop Tax Collectors, LLC (t We will Click Here for Index
5 so your service remains uninterrupted. Employee Reten�on Tax Credit (“ERTC”) impact -le employers: 1. due to a government order; or2. 3. Recovery Start-up Business rd and 4 completeTC is April 15, To avoid running into ow Be very wary of companies that advise you not to worry about talking to your CPAs because they do not know ERTC, and then make promises of grandiose credits without having any knowledge of your opera�ons and tax profile. from non-CPA providers. Click Here for Index************************