practice-continuation-in-event-of-a-death-or-disaster-tool-kit

Practice continuation in event of a death or disability Tool Kit Prepared by Edward Mendlowitz, CPA emendlowitz@withum.com 732.964.9329 Partner, WithumSmith+Brown, PC Updated December 8, 2017 As of this date over 12,000 copies have been distributed to colleagues Introduction This tool kit has been prepared to assist sole practitioners and smaller partnerships with a method of having their practice sold or continued in the tragic situation of an untimely death of disability The forms can be used and filled in as presented in this tool kit and used for negotiation purposes, but it is recommended that legal counsel be consulted prior to executing any agreement This is a standby plan in the event more formal plans have not been made and should not be a substitute for a carefully drawn up customized plan However, in the situation of smaller practices being dissipated or abandoned or sold as a fire sale much less will be realized by the families of the decedent or disabled, and it can provide staff and clients assurance of a smooth continuance and maintenance of the relationship with the firm This tool kit has been prepared for illustration purposes and no opinions are made or intended Nothing in here should be construed as legal or tax advice Appropriate counsel and guidance should be obtained All tax treatment should be reviewed as of the date any agreement is executed It should be periodically reviewed to see if the tax treatment remains applicable and, if not, whether the agreement should be updated The following sample agreement addresses a practices’ transfer in event of a sole practitioner’s or all of a firm’s partners’ sudden death; and the method of servicing clients in the event of a temporary or partial disability or inability to practice, how payment for clients that are sold by the buyer are handled and the situation would be handled should a disabled seller returns to the practice It is recommended that you execute a similar agreement with a fellow practitioner to protect your practice, clients and family wealth or cash flow While this letter is directed at an accounting practice, it can be adapted for use for your clients that are in a service business or professional practice It is recommended that you bring your spouse with you when you sign this agreement and explain to them the importance of quick action An instructional letter to your spouse of other relative or beneficiary is also illustrated Be aware that this tool kit represents the minimum that should be done and provides a method that can provide protection for the practice’s value that can be quite effective under many, but not every, circumstance Alternative to having this agreement Confusion Dissipating value Wasted time by widow or widower or your family representative Distrust of the person you ask to acquire the practice Lack of decisiveness in making an agreement Unnecessary legal expenses Possible unnecessary valuation costs Possible failure of heirs to agree with potential for divisiveness and altercation Abandoned clients Costs of winding down practice, closing office, terminating employees and deciding what to with files Inability for buyer and family to understand client service and fee arrangements and locate passwords, contracts, policies and leases And many other problem and time wasting issues Inevitability Death is inevitable Disability is not Both can occur unexpectedly; meaning without warning or expectations The few hours planning and executing a practice continuation agreement need only be done once; and then hopefully never used Any arrangements you want to make to dispose of your practice, retire, semi-retire, or can be made and it would supersede or vitiate the agreement However, if your plan is to work until you drop and then you drop at some point, there can be order and a smooth transition and maximum payment for what remains of your practice In today’s environment, and also for all of the past decades I have been practicing, there are been more buyers than sellers, so executing a practice continuation agreement should not be too much of a problem Deciding who to the agreement with I suggest making the agreement with someone you know and who you know about their practice and ethics I suggest a firm to times bigger than your practice This size should be able to absorb your practice without too much difficulty A practice your size might not be able to A practice much larger might not have the staff capable of working on your clients, or would not maintain the proper interest level since the bulk of your clients likely would be much smaller than the buyer firm’s clients Also the staff’s interest level might not that great to service your clients properly or in a way that would retain the clients for a prolonged period A by-product of interacting with colleagues during the decision process of who to execute the agreement with is that opportunities might arise to work together of certain projects or for cross referrals, or even being invited to attend in firm CPE programs, or office sharing However, the ultimate goal is to secure the value and transition of your practice should you die prematurely or unexpectedly; and to maintain the practice and provide a cash flow until you are able to return to work This is important stuff! Do not neglect it Buying a practice from an estate The practice continuation agreement is for your estate to be able to sell your practice quickly, smoothly and easily should you die unexpectedly, or maintain or sell it should you suddenly become disabled However, the possibility might arise where you are asked to buy the practice of a deceased practitioner who failed or neglected to execute such an agreement Here are my thoughts A topic near the top of the most asked questions I get from practitioners is where they have an opportunity to acquire a practice from the widow of a deceased sole practitioner I have been through this and know many others that have gone through this and my response is to pass on it Note: As skeptical as I seem in expressing my thoughts, I know of many successful transactions, although their process was not much different than what I describe here Some significant reasons I suggest passing on it are that the family of the deceased accountant will always think the practice is worth much more than you offer – no matter what you offer; the longer the negotiating process takes the lower number of clients that will be retained – once a client hears that their accountant, or tax preparer died they immediately start looking for a new one; very few widows, widowers or executors will take action without seeking the advice of an attorney – and very few attorneys would offer advice before they received a “valuation” report; there is a strong likelihood the records and client information is in disarray; if there are employees they have to be interviewed; decisions will need to be made about the premises and whether to assume the lease even temporarily; the mailing address, software, file backups, and telephone numbers, email addresses and websites need to be transferred and passwords deciphered; ACH payments, fees from affiliated programs and financial services from referrals or cross practice collaboration need to be determined and arranged for being continued; and all the talking back and forth and “proving” your ability and credibility will eat up your time and consume a lot of energy because of the aggravation dealing with the deceased’s family, if you can even identify who is authorized to make the deal So my advice is to pass on the “opportunity.” However, should you want to proceed, I suggest making an offer similar to the arrangement provided for in the practice continuation agreement I believe it is fair and would offer the chance of retaining as much clients as possible if done quickly Make the offer, in writing and put a deadline on their accepting it, along with the information you will need to review before you will execute the agreement The sooner you get the information, the better, but make the offer quickly; and not negotiate Any negotiation indicates that you did not provide your best offer initially If it doesn’t happen, so what – you’ve lost nothing except maybe an opportunity that will cause added stress and unnecessary work integrating what is left into your practice Also, keep in mind that the deceased is the person the screwed his family by not making any arrangements such as this type of agreement BTW, the person I referred to that screwed his family could be you if you nothing Don’t be that stupid! Explanation and rationale for purchase price and terms The payment percentage, terms, down payment (none) and tax treatment contained in the sample letter can be changed to anything you want and would be willing to pay and the seller willing to accept Here is the reasoning behind what I suggest in the letter The agreement calls for no down payment and no retention guarantees by the buyer This provides no risk to the buyer This is a seemingly one-sided arrangement, so, to offset this, the other terms attempt to balance this The 20% of collections represents a one times multiple of gross paid over five years based on collections This means that as fees increase, the payments will increase allowing the seller to share in the growth with the buyer There will be no payments for any clients once their services are terminated, either by the client or the buyer The payments based on collections provides an upside for the seller All payments will be made out of collections, so it maintains the no risk to the buyer Practice metrics I have seen indicate a 40% profit based on collections is a reasonable number The 20% payment “splits” this with the seller To further offset the lack of risk, a tax benefit will be conferred on the seller The seller would get capital gain treatment along with no self-employment tax obligation In the possibility that the seller is an estate, there might not be any capital gains tax Also we have acquired practices with this arrangement and it worked well for us and the seller In one instance the actual payments over the five year period was equivalent to 140% of the seller’s collections for the full year prior to the sale This was negotiated with the seller (who had opportunities to sell to others) We originally estimated a payment amount and set it up as a 197 asset that we would amortize over fifteen years At the end of the five year payment period we adjusted the purchase price and amortized the new balance over the remaining ten year Today, we have one business client left that was acquired in 1994 that paid us last year more than twice what we paid for the entire practice We also still have the owner of one of the business clients that closed and those annual fees are about 30% of what we paid for that client Not a bad deal! PRACTICE CONTINUATION AGREEMENT IN LETTER FORM THAT CAN BE MADE WITH A FELLOW PRACTITIONER Dear _, This letter is to give you our understanding of how we will acquire your practice In event of death We will acquire your entire practice only in the event of your death during a time when there are no surviving partners of your practice Upon your death, we will be contacted by either spouse’s name or , either of whom will have the information necessary to effect the transfer of your practice and who are authorized to effect such transfer We will make a good-faith effort to retain the maximum number of your clients, but we will not be obligated to retain any clients we not feel will be appropriate for our practice We will make every effort to “sell” clients we don’t wish to retain, but not guarantee that we can or will sell such accounts We will notify you as soon as we are sure we won’t retain an account, but in no event later than six months after the files are turned over to us In the event that we decide not to retain a client of yours, we will agree not to solicit or speak to that client for at least one (1) year following your death We will make a good-faith effort to sell those clients we decide not to retain, but we not guarantee that we can or will sell such clients If any of your clients that are not retained by us are sold through our efforts, we will pay to your estate eighty percent (80%) of the sales proceeds We will pay your estate (as used in this letter “your estate” will refer to either your estate, family or designated heirs, as the case may be and as indicated by you at the bottom of this letter) 20% of all fees billed and collected from your clients for all work done during the first five years of the transfer This includes any work done for the client in every and all entities and business forms they operate or call themselves under and includes newly formed entities and ventures It will not include fees from any referrals from those clients if the referring client has no financial or ownership interest in the new client We will use business efforts consistent with own practice regarding billing and collection for the work performed by us for your clients We shall provide your estate or designated heirs periodic reports regarding the work performed for your clients by us and the billings and collections with respect to your clients retained by us This information shall also be made available to them upon written request Please note that we are providing no client retention guarantees and that if a client is lost for any reason, your estate will not be entitled to any payments other than amounts based upon billings and collections by us We will make payments to your estate by the tenth (10) day of the month following the month we collect the fees However, if we collect any sums from your clients on account of work performed by you prior to transfer (your accounts receivable), we will remit onehundred percent (100%) of those amounts within ten (10) days of collection Nothing herein shall constitute a sale, transfer or assignment of your accounts receivable to us Your estate will turn over your workpaper files and computer disks or backup for each client for the last three (3) years We will assume all of your professional responsibilities for maintaining and retaining these files and disks The files and disks will be made available to your estate upon written request as long as that request is consistent with our professional and ethical responsibilities It will be our choice to keep or discard those files However, if we decide to discard any of your files or disks, we must first notify your estate and will allow your estate to take back the files and disks We will also receive all office equipment used in your practice with the exception of personal items in your offices selected by your spouse, or children We will pay rent on your office premises as long as we continue occupying the premises, but it is our intention to vacate the premises as soon as possible and we will not be responsible for the remaining portion of the lease Any costs of vacating will be borne by us 10 Upon our receipt of the files you will advise the telephone company to transfer the business telephone number to us; and you will give us ownership and access of any email addresses, websites and social media names and addresses We will also have the use of the deceased’s name for two years following the transfer of the practice to us In event of temporary disability or inability to practice 11 In the eventuality of a temporary disability or inability to practice we agree to service your clients until you recover and return to work The determination of your ability to return to work is solely at your discretion 12 If you wish to return on a part time basis and want us to continue servicing selected clients, we will but we will solely perform the services on those clients without any client interaction by you 13 During the period that we service your clients, we will be paid 80% of the fees that are collected for the services we performed If you return part time, we will be paid for the clients we work on, as if you have not returned, and will not have any of the fees prorated to take into account work you performed, if any 14 We will service your clients for a maximum period of one year If you have not returned during that period, we will either be able to purchase the practice under the terms and conditions as if you died (see above), or terminate our services We will not continue servicing your clients after one year of our commencement of services 15 After we stop servicing your clients in accordance with this agreement, and in the event that some of your clients wish us to continue as their accountants, we agree to pay you 150% of what we would have paid you had you died and we acquired this client for a period of five years, with the following exceptions: The five year payment will be based on billings and eventual collection during the first year and then that amount will become fixed and payable for the remaining four years regardless of whether the client is retained for that full period If the client is not retained, the payments will be made monthly during the remaining period 16 During the period of disability or your inability to practice we will have access to the business telephone numbers, email addresses, websites and social media names and addresses If the transfer to us becomes permanent, then we will acquire ownership of them in accordance with the provision under the transfer because of death Tax treatment of payments 17 With respect to death, all payments will be for the acquisition of the practice and will be treated as an installment sale of the practice with an estimate made of the full payment based on 80% of the fees collected by the decedent during the last full calendar year preceding their death 18 The buyer will treat the payments as payment for the acquisition of a Section 197 intangible asset and will amortize it over 15 years The gross purchase price will be the amount calculated in accordance with the preceding paragraph 19 At the earlier of the completion of five years after the sale, or when the aggregate payments exceed the initial purchase price, the buyer will include the extra payments as additional cost of the practice, and will add that amount to the unamortized purchase price and will amortize the new amount over the remaining period The seller will treat the extra payments as capital gain in the tax year payments are received 20 No interest will be included in any payments, nor will interest be imputed 21 Both parties will prepare IRS Form 8594 and jointly agree to the amounts reflected on the form 22 Payments with respect to disability or inability to practice will be treated as nonemployee compensation and deductible as such by the payer, and income by the disabled accountant General provisions 23 This agreement is not to be construed in any sense to constitute a partnership agreement between us, or between your estate and us 24 This agreement will in no way confer any responsibility upon us for any work done before we took over 25 This agreement is fully transferable by us should we merge or in any other way change our practice 26 This agreement is not to be construed as a sale or transfer of your practice under any circumstances other than death or temporary disability or inability to practice as described above Nothing herein shall prevent or prohibit you from retiring or selling your practice prior to your death or temporary disability or inability to practice, or making any other arrangements that you may wish 27 This agreement is cancelable by either party at any time for any reason Designated heirs For purposes of this agreement and payment, the designated heirs are _ and Payments will be made to them equally If the above meets with your understanding, please sign a copy of this letter and return it to us If you have any questions, please not hesitate to call Cordially, _ Name Signature Date Acknowledgement The undersigned agrees with the terms as outlined and expressed in this letter _ Name Signature 10 Date INSTRUCTIONAL LETTER TO ACCOMPANY PRACTICE CONTINUATION AGREEMENT WITH A FELLOW PRACTITIONER Dear , In connection with the agreement we signed today, following are some suggestions that could facilitate the transfer, should it need to be Nothing will be given to us unless the terms of the agreement are activated, and then the following should be provided as quickly as possible Having this information available for your spouse or heirs to easily access is essential to a successful transfer or continuation of your practice You should prepare a list of every client including the contact person, their telephone number and full type and frequency of service with the fees charged and other billing information It would be helpful to have your billing and collection information available for the previous year We need a list of passwords used by you in every case that they have been used including e-mail accounts The location of current and old files for your clients Any special client requests – such as the way, frequency, manner or form they want information; whether they only want e-mails, or no faxes, or visa versa; whether they hate extensions or only want extensions; financial planning or estate, succession or retirement planning desires; family issues; or anything else that will help us retain and better serve the client A schedule of fees due you either billed or unbilled, and work in progress, or where these are maintained in your accounting system or records Since timeliness is of the essence, it would be necessary for us to contact each client as soon as possible We should meet with your wife, or family, and discuss how this 11 procedure will occur, but if it appears that will cause a delay in our calls, we will proceed as quickly as we feel necessary It is important for your spouse and/or family to be aware of this arrangement and to understand the importance of it to them and how it will work You should discuss it with them, and if you wish, we would like to be present when this is done Note that it is important for the seller or seller’s representative to purchase “tail” insurance from their malpractice carrier This usually would cover any claims made against the accountant for up to three years after the sale Coincident with the sale, the current coverage should be terminated This should be discussed with the insurance company Amy costs for this coverage would be borne by the seller If you have any questions or comments, please not hesitate to call Cordially, _ Name Signature 12 Date LETTERS TO SEND TO CLIENTS WHEN A PRACTICE IS ACQUIRED FROM AN ESTATE Following are some sample letters that could be used and should be adapted to your situation Note that the quicker the letters are sent out and clients contacted, the greater the retention will be Letters can be postal mailed, or emailed I prefer postal mailing When the client is called, the acquirer should make the call and not have an associate or administrative person make it The letter should be sent to the smaller of the acquired clients The larger ones should get personal calls and two or three visits within the first month They can be handed the letters at the first visit since it will have information the client should be aware if also suggest calling the smaller clients a week after the letters are sent to start the transition of the relationship Keep in mind that the deceased’s clients are making a major decision while you are looking at the “numbers” of new clients you will pick up Treat the transition for each client with the same level of seriousness the client is Empathize with the client Remember, they just lost a friend and trusted adviser To be sent by widow, widower or family member Dear , As you probably are aware, it is with much sadness that passed away last month Over the last month as the situation was deteriorating, the family and the senior staff, with the guidance of outside experts expended much effort in finding an appropriate CPA firm to service my husband’s clients Everyone involved was concerned that the services and attention should be very similar to what you have been accustomed to all these years Or My husband has made prior arrangements with a longtime friend and colleague for his clients to be continued to be serviced in the same manner he has provided his services My husband had prepared an informational memorandum for each of his clients along with organized work 13 papers and records for you as well as each of his clients that will be made available to Mr or Ms _ will has agreed to continue the work with you Accordingly, we are pleased to report that my husband’s practice will be merging with a firm that we believe to be a very appropriate fit The firm is They were established approximately 30 years ago and are recognized quality accountants The partners are , and The culture of the firm as well as the value of their work has earned the firm a pristine reputation They are a full financial service CPA firm, offering tax, audit, accounting as well as entire division of wealth management services Attached please find the firm's brochure Our office and staff will remain the same for the foreseeable future All of your papers and records will be maintained by and will be made available to you should you wish to engage a different firm Our office address and telephone, fax numbers and email addresses have not changed We are confident that although this is a difficult time for us, we will be consoled knowing that my husband’s clients will be taken care of in the best way possible I appreciate your condolences and look forward to answering any questions you might have regarding this transition In the next couple of weeks, [senior accountant from acquired firm] would like to meet with you to introduce you to the partners of at a convenient time for you Please feel free to call me Widow’s first name as signature A second letter should go out at the same time in the same envelope on new firm’s letterhead Dear Clients of Mr , We are sadden by the death of our friend and colleague of many years and will be merging his practice into ours to continue the excellent service you have experienced from him Our firm is comprised of _ people including three partners The founders are fully active in the practice and include a second generation partner to assure succession and continuity of our practice Our main office is in Manhattan and we will be maintaining the office in with all of the present staff 14 The event leading to this merger is unfortunate and we regret the circumstances, but you can rest assured that we will make every effort to assure a smooth continuity in your business relationship We would like to meet with you in the next couple of weeks to introduce ourselves and share you concern about the continuity of your accounting services We will be calling you to set up an appointment In the meantime, you are welcome to call any of us for any reason Our personal cell phone numbers are listed below along with our email addresses should you find that more convenient to reach us We are fully confident that we will continue to provide to you the superior services you have come to expect Sincerely, Each partner should sign their name, and provide cell # and email addresses ADDITIONAL COMMENTS REGARDING INTEGRATING LARGER CLIENTS INTO NEW PRACTICE I would suggest that there be two to three visits to each larger client within the first four to six weeks When you meet with the larger clients – the youngest partner should go with one of the older partners You should try to show a younger face For the smaller clients only one of you can meet them, but I would treat EVERY business client as a “large” client Tax clients should get a call in a week from a staff person and one of the partners should call them a week after that Note: To you, some clients might be small, but not to the client! Treat each client as if they were your only client 15 SAMPLE PRESS RELEASE ANNOUNCING MERGER New Guy mergers in Old Guy’s practice Effective as of New Guy has acquired the practice of Old Guy following his death New Guy and Old Guy had a long term professional and personal relationship and previously made arrangements for the transition of the practice should there be an untimely death of Old Guy The transition was facilitated by Mr Old Guy’s advance planning organizing the files and service plans for each client and the delivery of this to Mr New Guy immediately following Mr Old Guy’s death The clients’ files, data base, back up, and system passwords have been made available to Mr New Guy New Guy is an established local firm with over 30 years in the East Brunswick, NJ area Joining New Guy will be two staff and the acquisition of the South River office maintained by Old Guy The partners of New Guy are Ed Mendlowitz, Peter Weitsen and Frank R Boutillette with a cumulative experience servicing a wide range of clients of 87 years Clients of the combined firm are located along the East Coast and range from New Hampshire to Florida with a preponderance in Central New Jersey The clients of Old Guy will gain access to the considerable resources of a growing, well-respected regional firm with an international affiliation Through New Guy they will have more capabilities, including additional services in the specialty areas of manufacturing, technology, distribution management, construction contracting, mortgage banking, litigation support and forensic accounting, and financial services New Guy has capabilities to serve its clients’ accounting, auditing, tax and business consulting needs The combined firm is very excited about the opportunities that will arise from this merger and look forward to a successful future Additional information is available on the firm’s website at www.newguy.com 16 SAMPLE ADDITIONAL LETTERS TO BE SENT OUT Notification to phone company Similar letters should be sent to transfer website, email addresses and other communications items that will be acquired and maintained by purchaser On Seller’s letterhead To whom it may concern: Please arrange to have our telephone calls at transferred or forwarded to This is a temporary request until we advise you differently Thank you for your courtesy and attention to this Cordially, If any questions you can reach me on my cell phone TO PROFESSIONAL LIABILITY INSURANCE CARRIER On Seller’s letterhead Dear We are hereby applying for Extended Reporting Coverage (Tail insurance) We are being merged into another firm [or acquired by another firm] on or about We anticipate that we will terminate our regular professional liability insurance policy and replace it with the tail coverage about a week after the merger, but that date is not yet established Please provide us with a quote for the tail coverage If it is possible to increase the deductible for the tail policy to $ or more we would like to consider it 17 Also, upon ending our current policy, we expect that there would be a credit for the unexpired period Would you kindly assist us with this? Please call me as soon as possible so that we can be sure we have adequate coverage Thank you for your courtesy and attention Cordially, 18 IF THIS LETTER IS APPLICABLE, SEND IT A FEW MONTHS AFTER MERGER REGARDING A CHANGE IN BILLING ARRANGEMENT My suggestion is to not significantly alter any pricing and billing arrangements until you get to know each client and work with them a while and create a comfort level for them Increasing prices always is a moment where the client will re-consider the relationship so tread carefully when doing this In some situations, the client would want to give the buyer a chance and would expect an increase This requires sensitivity to the client’s needs and expectations of what the new relationship could be An example is where a client is grossly underserved by the deceased or previous accountant and has an expectation of what they need and the new accountant is able to convey this to the client I have many illustrations of this, but that is off the topic Also, it is better to deliver the letter in person to the client and discuss it with them at the same time On new firm’s letterhead Dear client’s name, As you are aware, has merged their practice with us It is our policy to mail retainer or fixed fee bills for the services we will be performing at the beginning of each month Accordingly, we have enclosed our bill for We look forward to continuing (and adding to) the fine relationship you had with As issues develop, we will be speaking and meeting with you In the meantime, if you want to know how we can additionally help you with our full range of accounting and consulting services, please not hesitate to call me If you have any questions or comments about the bill, please call me Cordially, Name of partner Direct [or Cell Tel:] partner@firm.com 19 This Tool Kit was prepared by Edward Mendlowitz, CPA and does not represent any opinions of himself (except where expressly stated) or his firm, WithumSmith+Brown, PC It has been prepared solely for guidance of fellow practitioners Readers are welcome to contact Ed with any questions or comments Please send an email with a brief description of what you want to discuss and include your telephone number and you will receive a call back usually within two days EDWARD MENDLOWITZ, CPA Edward Mendlowitz, CPA, is a partner in WithumSmith+Brown, PC, CPAs and is one of Accounting Today’s 100 Most Influential People Ed has authored 26 books and has written over 1200 articles and blogs for business and professional journals and newsletters plus a tax loophole article for every issue of TaxHotline for 27 years He is the winner of the Lawler Award for the best article published during 2001 in the Journal of Accountancy and is on Bottom Line/Personal’s Panel of Experts for taxes and is the co-editor along with Sidney Kess of The CPA Journal’s Financial Planning column He is an Adjunct Professor in the MBA graduate program at Fairleigh Dickinson University, and is admitted to practice and has argued cases before the U.S Tax Court Ed testified twice at the House Ways and Means Committee on tax reform, equity and fairness; and was inducted into the Estate Planning Hall of Fame in November 2017 Ed has also written and presented over 250 continuing education programs, and is also the president of the WS+B Partners’ Network which purpose is to support smaller accounting firms in areas they not or cannot practice in Ed can be reached at WithumSmith+Brown PC, One Tower Center Boulevard, 14 th Floor, East Brunswick, NJ 08816, (732) 964-9329, emendlowitz@withum.com Ed writes a weekly column that is posted every Monday at www.accountingtoday.com You can sign up to receive the daily Accounting Today emails for no charge These columns are autobiographical in nature and usually discuss practice management issues Ed has encountered Sign up and read Ed’s twice weekly blogs that primarily address issues his clients have The site is at www.partners-network.com Occasionally some personal and favored issues are written about A tax blog is posted monthly at https://bottomlineinc.com/blogs/pay-less-tax-man Subscriptions to this blog are also free 20