Protection Plus

[BTS]

Didn't here.  It would be nice to see if others did.  Protection Plus calls at least twice a year.  Just haven't had time to talk with them

[mcb39]

On 1/11/2024 at 11:45 AM, Lee B said:

I wouldn't do it, but is it any different than paying for an extended maintenance contract on a car or a dishwasher?

I totally agree.  I have never purchased an extended warranty on anything and my clients aren't going to accept the hike in fees for that reason.

[Catherine]

I did it, and so far have not had to use it - but the pertinent letters won't be coming out for the next several months. Rather than do representation myself, I thought it was worth the experiment, as I try to retire slowly & gracefully. TLDR answer: too early to tell, but cheap insurance?

[Lion EA]

Just like car insurance that I hope to never use (but have used), I paid the tiny price for PP for the 23 tax year and renewed for 24 tax year. I have only 1 biz (except for trusts, that PP doesn't cover yet), so the $10 for each of my other returns is a small price to pay to sleep easier at night. I hate answering the letters, so If I can hand that off, especially when I'm busy, it's worth it. I don't have hundreds of clients, so it's a small price to pay. I've been raising my fees each year, because I was underpriced for my area. Now I can tell clients they have an added benefit in their new fee.

[gfizer]

I used it last year and renewed again this year.  I had one client who received a letter from state taxing agency disallowing her charitable contributions, which were, in part, related to a large carryover from 2022 (I didn't use PP in 2022).  The client also happened to be a good friend so I used her as a test case. Turned everything over to PP.  They communicated directly with my client and sent me copies of all correspondence along the way so I was kept in the loop.  It was a very positive experience and the matter was resolved in favor of my client.

I did raise my fees by $20 last year to cover the cost.  We explained the benefits to each of our clients at pickup and almost no one complained about the increase - only 2 or 3 out of about 700 clients.