Make the source records and work responsibilities explicit during a transition. Separate retainers, media spend, project fees and pass-through transactions in the operating file.
Preparation resource. Record completion does not determine eligibility, deductions or tax savings. Ask your qualified tax professional to resolve the facts and applicable rules.
What this file should establish
Inventory entities, returns, source access, open notices and active recommendations. Use secure transfer channels. Record who owns each deadline and revoke obsolete access through the appropriate process when the handoff is complete.
Separate retainers, media spend, project fees and pass-through transactions in the operating file.
A situation to work through
An agency's revenue report includes client media budgets handled through its accounts.
For this situation, start with client retainers. Identify the period and legal owner before combining it with the other records. Keep the original source and explain any adjustments in a separate reconciliation.
Review point
Identify pass-through and earned revenue questions before setting targets or tax assumptions.
A task is assumed complete because another professional handled it previously.
Question for the reviewer
Who has accepted responsibility for each open item and filing deadline?
Expected handoff
A secure transfer register and responsibility map.
Separate facts supported by documents from estimates and unresolved assumptions. Assign each missing item to a responsible person and a date. Send the reconciliation alongside the source references so the reviewer can trace each conclusion.
Your preparation worksheet
Enter a reference to the document, the person who can supply it and the unresolved question. Use file names or locations rather than account numbers or other sensitive information. Entries stay in this page until you close or refresh it. They are not sent to us or saved automatically. Export before leaving.
Record or decision
Source reference
Status
Responsible person
Open question
client retainers
ad-spend records
contractor scopes
receivables
owner duties
entity
record set
transfer status
open deadline
assigned professional
Mark not applicable only after noting why. A collected record can still require correction. Review the exported file before sharing it with your adviser.
Use the following primary guidance to frame the questions. The worksheet organizes facts; it does not replace analysis of the relevant year, ownership, elections or state treatment. Record the applicable period, confirm the source version and retain the preparer's written conclusions with the supporting documents.