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As an accountant, you offer your clients a variety...
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Fee Insurance: Worth Your Time and Money?
As an accountant, you offer your clients a variety of services. One of the more important
services that you offer is filing their tax returns each year. This is something that you want to
do efficiently and correctly in order to avoid (insomuch as possible) tax investigations.
However, sometimes no matter what you do, a client is going to have to deal with a tax
investigation. Sometimes something was left out or forgotten, sometimes a client was trying
to hide something, and sometimes it’s just random. When a tax investigation occurs, this
often means more work for you. It’s another one of the many services that you offer your
clients-help resolving the problem. However, this often results in high fees for your client. Of
course, your client would prefer not to have to pay these fees, and you would prefer that your
client stay happy.
So, what do you do?
Fortunately, there is a solution out there that can make everyone happy, and it’s called fee
insurance. It’s also called fee protection, tax insurance, tax investigation insurance, etc. It is
insurance, and you or your client will pay a premium in order to be protected. When you pay
your premium, which will vary based on a variety of factors, the insurance provider will pay
your fees if a tax investigation occurs. This is great for you and for your client.
You get paid, and your client doesn’t have to pay! Everyone wins. So, all you have to do is
decide whether this type of protection is worth the money. If you choose practice cover,
which insures your practice, you will want to shop around. Take a look at a variety of
insurance providers to see what they have to offer. You will want to look at different quotes,
but you will want to look at more than how much it costs. You will also want to look at how
the company operates and what they have to offer. A company with a variety of flexible plans
may be worth more money to you.
Your clients can also purchase this protection, and if you are going to offer the protection or
at least suggest an option, you want to do your research. If the client is going to pay for it,
you want to find a good provider that offers affordable and useful plans. You also want to
take a close look at what they have to offer because when a client files a claim, you will be
getting paid.
Who do you call?
If you want work with a reputable, flexible provider that really understands you, you should
take a look at Professional Fee Protection Limited or PFP. This fee insurance provider was
founded by accountants. They get where you’re coming from, and they offer a variety of
plans including client cover and practice cover. They’re even there when you need advice.
So, if you are interested in finding the best fee insurance out there, you should contact PFP
today!
