What’s included in tax services?

Lately I use the term “bundled services” to describe how my tax service differs from some other professional providers. We also use the term ” old fashioned” and “relationship-based”. Whatever we call it, my standard accounting engagement agreement includes a bundle of basic and preliminary services and a bunch of advanced services to ensure a better and more profitable outcome over the long term. The list includes:

1. A detailed written engagement agreement in clear plain language
2. A discussion of the engagement agreement, privacy policy, and security provisions
3. Organizer document for starting the tax filing or planning process
4. A discussion focused on your financial goals
5. A discussion of the goals of the tax return and the potential impact of any accounting weaknesses
6. A discussion of your financial fears, struggles, and concerns
7. Reading of your business organizational documents, bylaws and minutes
8. Reading your trust agreements and organizational by-laws
9. Reading any other documents you provide
10. Discussion of Reasonable Compensation and additional support services for chosen compensation for corporate owners
11. An online check of your business filing status
12. A check of social security numbers and employer identification numbers
13. Optional Foreign Bank and Financial Account filings
14. Optional Business Ownership Information filings
15. Optional 1099 and W2 filings
16. Optional tax transcript monitoring and automated under-reporter penalty prevention/minimization checks.
17. Creation of a permanent secure electronic file of your documents
18. Review of prior year tax return
19. Confirmation of document inputs used to prepare the tax return
20. Confirmation of the states and jurisdictions prepared
21. Extended access and mid-year review
22. Flexibility in paper or electronic communications
23. Document upload from computer or cell phone photo
24. “Click to sign” electronic signatures
25. Manual confirmation of filing acceptance
26. Timeliness agreement, completion date can be specified
27. Year-round access
28. Audit response
29. Audit representation available
30. Tax planning for next year
31. Reliance on professional opinion audit defense
32. Confidence of having a CPA/MT preparer as signor on the tax returns
33. Separate tax return review process
34. Comparison of tax results with prior year(s)
35. Discussion of overall and marginal tax rate
36. If a local tax return is required, not filed by a preparer, a PDF version for mailing or template for self-filing online
37. Review video of tax return, planning issues and potential weaknesses
38. Financial planning discussion stemming from tax return issues
39. Access to industry-leading compensation and employee benefits expertise
40. Access to decades of real estate expertise
41. Access to decades of portfolio management expertise
42. Multiple year contracting available
43. Secure records storage
44. Multiple versions of tax return available for different purposes
45. Integration with bookkeeping for small business, real estate, investments, and cryptocurrency
46. “Book-to-tax” accounting proposed journal entry adjustments available
47. CPA’s manual signature on paper copy of return for third parties and lenders
48. CPA cover letter available to third parties

In general, all of these services are included in our basic tax services and pricing except those that are specified as “optional” or “available” services. Not all items apply in all cases. All services may not be available in the event that the engagement is provided at a lower price or specifically limits the services that we agree to perform.