› Personal Tax Preparation & Planning

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Premium Support Package (PSP)

The PSP is designed for individuals who are our tax clients or wish to be, as an added feature for optimizing tax planning. It includes audit protection, consultations and education with yearly reviews to revise pay package structuring, etc. We will work with your treasurer or administrators if necessary to help educate them to the best possible options for you both. This is a yearly subscription that affords you the option of paying a set fee rather than hourly consulting fees to cover planning and contingencies as they arise.

One annual fee of $279 for a 12 month subscription covers all of the services listed below:

This service is designed for Individual subscribers; call for information about group packages. (Tax Preparation is NOT included.) The fee is fully tax deductible for State and Federal Income Tax and Ministry Social Security Tax.

One Hour of Financial Planning
Coordinating and customizing a tax-advantaged strategy to attain your goals.

Two Hours of E-mail or Telephone Consultations

Revised Pay Package Structuring and Tax Planning
Yearly review to optimize your salary and benefits. This alone can net you thousands of dollars over the course of your ministry.

Revised Estimated Tax Projections
Revised during the year as needed for pay package changes due to a call to a new church, spouse job change, unexpected bonuses, etc.

IRS Correspondence
Review of IRS and State letters and notices; draft responses to IRS and State

Audit Representation
Includes pre-audit work, documentation, and audit representation before the IRS, applies only to returns we have prepared. Available only if your current subscription is in force at time of receipt of your audit notice.

The Premium Support Package Services, if priced separately, are valued at over $1800. (Tax Preparation is not included) Your cost is only $279 for 12 months.

Questions and Answers

The Premium Support Package (PSP) is designed to afford our tax preparation clients an extra measure of service. We ask that you plan ahead to schedule time with your Tax Accountant before February or after May, whenever possible.

Q. What is the difference between tax preparation and tax planning?
A. Every day we work with clients to structure housing allowance, pay packages, reallocate retirement contributions, medical reimbursement accounts, Rabbi Trusts, decide when to begin Social Security retirement benefits, consider a 1031 exchange, and find the best time to incur certain housing expenditures. This is tax planning. These steps will save many thousands of dollars for our clients. To wait until next February’s tax appointment or actual tax preparation will be too late. Your options are often significantly enhanced when you plan well in advance.

Q. Why do I need the Premium Support Package?
A. The Premium Support Package allows you to contact us for advice about tax and financial issues without incurring hourly fees. Life is unpredictable and we want our clients to have the full benefit of our expertise as these changes occur. It also encourages you to plan ahead and be proactive, rather than waiting until tax preparation time to discover what steps you should have taken earlier.

These are some typical issues that the PSP covers:
• Tax efficient planning & strategies
• Year-end tax issues such as; ministry expenses, investment issues
• Pay package consultations
• Revised tax projections for pay raises, family and job changes
• Mutual fund or stock questions
• Unexpected income, Inheritance, gifts, bonuses, etc.
• Questions about Housing Allowance, Purchases & Leases
• Review of any IRS notices you may receive
• Audit Protection

Q. Why don’t you include consultations with tax preparation?
A. Actually, we do. At the time of your tax return review, we answer routine questions at no charge. Your yearly tax return review is rarely enough time to fully plan and is too late to let us know about changes in your situation that will affect your taxes. The person who prepares your tax return receives reasonable compensation for their expertise. However, they simply cannot afford to spend the rest of the year receiving unlimited phone calls and correspondence without additional compensation. (We offer “year-round service.” Some have misinterpreted that to mean free “year-round service.”)

Q. You have sometimes answered mid-year questions at no charge. Isn’t that included in our tax preparation fee?
A. We have earned a national reputation for knowing the answers to all clergy tax issues. As a result, we get more “quick” questions than we can handle. The joke around our office is that the question may be quick but the answers certainly are not. One question leads to another and the tax laws are complex with numerous exceptions to every rule. If we do not give each issue the time and expertise it deserves, we are doing YOU a disservice. In order to give true professional answers, we simply cannot try to give quick free answers.

Q. What types of questions are not included?
A. The goal of the Premium Support Package is to offer greater tax planning opportunities and peace of mind. We consider “routine questions” as anything that we can answer in about 15 minutes or less. “Project” issues require 1 - 20 hours of our time and are not included in this PSP Service. Some examples of “project” questions are opinion letters to church boards, tax planning for the sale of a business, structuring the sale of a church parsonage to the minister, determining ways that the church can help the minister purchase a home, or negotiating IRS collection solutions, (Offers in Compromise, Installment Agreements, Garnishments, Levies) etc.