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Scenario Summary
A new client enters your office and places a box of receipts and bank statements on your desk, saying that she would like to have a set of financials prepared and tax returns completed for the current tax year. She also states that the financials and the return will be given to her bank as part of the documentation needed to acquire a $300,000 bank loan for home improvement. She would like you to complete the work within a week. As you review the documentation, you note that some of the expenses and receipts for income are not documented. Specifically, she writes expenses to deduct on a piece of paper and provides no supporting documentation. When you request the clarification and additional information from the client, she tells you that she has no more documentation and that is all she can give you.