XY Tax Solutions

Our CPAs, Your Value-Add

XY Tax Solutions is excited to bring expert tax preparation and planning services to you and your clients. Tax planning is one of the most important components when providing comprehensive financial planning to your clients, but it can quickly become the most time-consuming part of your job. That’s where we come in.

Delegate the tax work to us and spend more time doing what you love—serving your clients. 

 

 
 
XY Tax Solutions
Trent Porter "XYTS found several thousand dollars in tax savings on PAST returns—including my own..."

 

Trent Porter, CPA, CFP® // Founder, Priority Financial Partners

How It Works

With a Network of unique advisors and firms, we know a one-size-fits-all approach won't work. Our team wants to give you the flexibility you need to best serve your clients. You choose how to engage with XYTS, and how you want to bill your clients based on your firm's individual needs. 

 

Engagement

When you complete the Client Intake Form, you decide what type of engagement you'd like—on a per return basis. 

 

Integrated

Our most popular option, an Integrated engagement is a relationship between you, your client, and XYTS. XYTS will copy the advisor on any client interactions and requests. Additionally, advisors will get access to their clients’ secure portals.

Choose from any of the Advisor-Billed or Client-Billed options below. 

Advisor-Only

Our indirect service, an Advisor-Only engagement is for advisors who want XYTS to communicate directly with them. Being the sole point of contact to the client, the advisor leads the tax engagement process.

Choose from the Advisor-Billed options below.

Client-Only

Our direct support option, a Client-Only engagement is best for advisors who are at capacity and wish to outsource tax preparation services or for advisors who wish to refer family, friends, or colleagues directly to XYTS.

Choose the Client-Billed option below.

Billing

When you complete the Client Intake Form, you decide your billing arrangement—on a per return basis.

ADVISOR-BILLED


CLIENT-BILLED


Subscription For example, an advisor billing $199/month for financial planning services, may wish to include an option at $249/month and include tax services. You, the advisor, would collect an additional $50/month, or $600/year. Come tax time, you remit payment to XYTS and your clients won’t see a tax preparation bill come filing time.

Fold the cost of tax preparation into your existing financial planning service offering.

Convenience Fee For example, an individual tax return cost $325 to prepare. You, the advisor, remit $325 to XYTS and invoice your client for $375. The additional $50 will need to be validated to the best of your ability. This could include tax planning and strategy conversations that occur throughout the year.

Bill your client for the final XYTS invoice and charge an additional fee for your advisory services. 

Absorb Fee For example, if you are billing your clients through an existing retainer or AUM engagement, you may wish to cover the costs of any tax prep and planning services.

Completely absorb XYTS' tax preparation fee, and do not pass along the cost of tax preparation to your client. 

Pass Through For example, XYTS invoices your firm for $400. You then bill your client(s) $400.

XYTS will invoice you for the cost of tax preparation, and you will pass the fee through to your client.

Direct For example, a trust tax return cost $600. XYTS will bill the client for $600 after e-filing the return. The advisor’s firm is not involved in this transaction.

XYTS will invoice your client directly when we file the tax return. 

 
 

Secure Your Spot

XY Tax Solutions is ready to prepare 1,500 tax returns in 2021 for XYPN members and their clients. Capacity is available on a first-come, first-served basis, so be sure to carefully review the steps below:

STEP 1

Complete the Initiation Form to get started with XYTS for the upcoming tax season.

Get Started with XYTS

STEP 2

Carefully review and sign your Commitment Letter.

You will receive a contract via email from the XYTS team approximately three (3) business days after submitting the Initiation Form.

STEP 3

Complete the Client Intake Form on a per return basis. 

Please see more information about deposits in the Important Information section below.

STEP 4

Pay invoice for deposit(s) due.

Advisors are responsible for Advisor-Billed returns, and clients will be billed directly for Client-Billed returns. These elections are made during Step 3, the Intake Form.

Capacity is not reserved until deposits are received.


2021 Tax Season Pricing

XYTS is available to prepare additional forms in addition to, or in conjunction with, the base returns below. Complexity rates may apply to special circumstances. For all the details, download the full pricing menu.

Download the full pricing menu  Individual Return Calculator

 
Individual Tax Return

Starting at
$325


1040 / Individual Income Tax Return

The following forms are included in the base return price:

Schedule A / Itemized Deductions
Schedule B / Interest & Dividends
Schedule DCapital Gains & Losses
1040-ES / Estimated Taxes (Safe Harbor)
State Tax Form / Resident State Tax Return

 

 

Get started with XYTS

 
Trust Tax Return

Starting at
$600


Form 1041 / Tax Return for Estates and Trusts

 

 

Get started with XYTS

 
Business Tax Return

Starting at
$900


The following forms are included in the base return price:

Form 1065 / Partnership
Form 990 / Organization Exempt from Income Tax
Form 1120-SS Corporation
Form 1120 / Corporation

Get started with XYTS

Tax Planning Services


XYTS is available to consult on tax planning issues, conduct tax research, and answer tax questions for a flat $200/hour rate. Our tax planning services are provided by our experienced Senior Tax Managers. These services can be held in conjunction with tax preparation services or as a separate engagement.

Ask a CPA /// $200 per hour

Planning Partnership /// $1,000 for 6 hours

 

Get started with Tax Planning

Important Information about Deposits


    • Deposits will be collected after completion of the Client Intake Form.
    • Deposits for individual returns are 10% of the generated quote with a minimum deposit per return of $50.
    • Deposits for trust returns are $120 per return and business returns are $180 per return.
    • Deposits will be applied to your final bill (per tax return) which will be due after the e-filing form is signed.
    • Unused client-billed deposits are non-refundable.
    • Unused advisor-billed deposits are non-refundable; however, can be applied to other current-season tax returns with XYTS if applicable.
    • Tax return deposits cannot be carried over nor applied to tax planning engagements.
Sara Stanich

"This was a really great value-add for clients and a convenient way for me to stay on top of the tax situation for my clients."

 

Sara Stanich, CFP® // Founder, Cultivating Wealth

XYTS Office Hours


XYTS Office Hours offer XYPN members the opportunity to learn about advanced tax topics in an interactive environment. Office hours are held the first Tuesday of the month from 1 - 2 PM MT

Examples of topics include:

  • Selling or Liquidating Your S Corp or Sole Proprietorship/SM-LLC
  • Tax Information for Retirement Plans
  • Depreciation and Depreciation Recapture
  • Estimated Tax Payments and Withholding
  • Cafeteria Plans for S and C Corps
  • S Corp Elections
  • Tax Planning Opportunities and General Questions

Learn more about Office Hours


 

Frequently Asked Questions

Don't see your question answered below? Email us or book a call with our team.

Follow these four easy steps listed at the top of this page.

Please have information uploaded to the Client Portal no later than three weeks prior to the filing deadline.

Let us prepare your personal and/or business tax return to learn more about our process and client experience.

Yes, a Senior Tax Manager will review your clients’ prior-year tax returns. The first two tax returns are complimentary, and any additional returns are billed at $200/hour.

Yes, XYTS will amend tax returns prepared by an outside CPA. Amended tax returns are prepared at an hourly rate of $200/hour.

While we recognize roughly 30% of XYPN advisors are CPAs or EAs who may prefer the returns be prepared under their names, XYTS will sign the returns for this upcoming tax season.

Depending on the engagement and billing options you select, you may need to update your Form ADV. Please refer to the Compliance Quick Start Guide and attend weekly Compliance Office Hours with any questions you may have.

Yes, tax planning engagements can be held in conjunction with your clients or behind the scenes to help you prepare for your tax planning conversations.

Yes, through the hourly ‘Ask a CPA’ tax planning engagement. XYTS can invoice advisors or clients for tax planning work. Note: only financial advisors can purchase the 6-hour ‘Planning Partnership’ tax planning package. The discounted rate is available to advisors who would like a CPA on their team throughout the year.

Yes, please complete the Intake Form and select the Client-Only engagement and Client-Billed options.

XYTS works primarily with XYPN and ACP members; however, we may make an exception for other fee-only advisors contingent on a sales call. If you think that your firm is a potential fit for XYTS’ services, please schedule a call here.


 

Recommended Reading

Get the latest from the Tax Team

Read the most recent articles from the experts at XYTS or explore all articles from the team.

Year-End Tax Planning Decisions to Weigh

A Guide to the New 2020 Form 8915-E
 
 

December 3, 2020

Read the blog

Year-End Tax Planning Decisions to Weigh

Year-End Tax Planning: Decisions to Weigh
 

November 30, 2020

Read the blog

Selling or Liquidating Your S Corp or Sole ProprietorshipSingle-Member LLC

Selling or Liquidating Your S Corp or Sole Proprietorship/Single-Member LLC

September 14, 2020

Read the blog 

 
 

Advisor Resources

We're here to make you look good.

Available to XYPN Members through the Member Forums, these resources help you promote tax preparation services, set expectations with your clients, update your ADV, and more. 

XYTS Client Badge

XY Tax Solutions is pleased to provide client firms with a distinguishable logo to signify access to collective tax expertise.

Please review the guidelines before placing the badge on your website or in marketing materials. You will find a link to download the badge at the bottom of the guidelines document.

 

 

Download client badge

Templates and Downloads

These assets help you promote tax preparation services, set expectations with your clients, updated your ADV, and more.

 

Access templates & downloads

Compliance Quick Start 

An easy-to-use guide to updating your Form ADV is three easy steps—seriously. Thanks to the in-house experts on the XYPN Compliance Team, this guide will walk you through exactly what, where, and how to disclose tax services on Form ADV.

 

Get the Quick Start Guide

 
 

The Tax Experts In Your Corner

Click image to read bio Emily Purdon headshot

Emily Purdon, CFP®, EA
Senior Director

Click image to read bio
Michael Law headshot

Michael Law, CPA
 
Senior Tax Manager

Click image to read bio
Sam Nguyen

Sam Nguyen, CFP®, EA
Senior Tax Manager

Click image to read bio
Dan Ritter

Dan Ritter, CPA
 
Tax Manager

Click image to read bio
Katrina Ivancic

Katrina Ivancic, CPA 
Tax Manager

Click image to read bio
Pam Hocevar

Pam Hocevar, EA 
Tax Manager

Click image to read bio
Blake Mattfeldt

Blake Mattfeldt
Tax Specialist

Click image to read bio
Chelsey Patera headshot

Chelsey Patera  
Tax Specialist

Click image to read bio
Rachel Black

Rachel Black
Tax Specialist


Get to know the entire XYTS team by visiting our Team page 

Emily Purdon, CFP®, EA

As Director of XYTS, Emily Purdon leads our in-house team of tax experts, combining her experience as a financial planner with her talent for creating scalable processes to build a business where the client experience is the main priority.

Emily has an extensive educational background, with an M.S. in Advanced Personal Financial Planning and a Financial Therapy Graduate Certificate from Kansas State University; she also completed Wharton’s Executive Education Program in Client Psychology and graduated from the FPA Residency Program.

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Rachel Black

Rachel Black is a CPA candidate and tax enthusiast with over a decade of experience in small business operations and client relationships. In her free time she enjoys ruining parties trying to talk about personal finance and tax optimization, drinking coffee, and playing in the great outdoors.

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Michael Law, CPA

Michael Law has 22 years of experience including time spent as Vice President of Tax Operations at Goldman Sachs. Other hats he has worn throughout his career include Supervising Senior Accountant, Tax Manager, Audit Manager, and Tax Partner.

He's been published or quoted in Accounting Today, Small Biz Daily, Business News Daily, and more. Michael holds a Masters of Science in Taxation from Golden Gate University and a Bachelor of Science in Business Administration from California State University.

As Senior Tax Manager, Michael will provide the highest level of tax expertise while serving as your in-house team..

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Katrina Ivancic, CPA

As a Tax Manager, Katrina provides tax preparation, planning, research, and compliance support to XYPN members and their clients.

After graduating from Cleveland State University in 2009, she spent many years working in corporate accounting before launching her accounting firm in 2013. Over the last 7 years, she has become an expert in small business tax, financial accounting, bookkeeping, and personal tax planning.

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Dan Ritter, CPA

After graduating from Norwich University in 2009 with a Bachelor of Science degree in Accounting, Dan Ritter served as an officer in the United States Marine Corps for seven years. In 2016, Dan joined a tax firm in Bozeman, MT and fulfilled the role of a Staff Accountant/CPA for over four years. Dan also graduated with a Master of Professional Accountancy Degree from Montana State University in 2017. Dan specializes in tax for individuals and small businesses, bookkeeping, financial accounting, and QuickBooks Online.

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Pam Hocevar, EA, MBA, FPQP™

Pam successfully ran her own tax business for nine years; she has also worked in education and training for small and large organizations. Pam graduated from Michigan State University with a B.S. in Psychology and an MBA from the University of Sarasota. She is an Enrolled Agent with the IRS, along with being a Registered Paraplanner and graduate from the College of Financial Planning. Pam’s specialty is developing tax plans that fit the client’s individual goals and preparing individual and small business returns.

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Blake Mattfeldt

Blake is a recent graduate from the Master of Professional Accountancy program at Montana State University (MSU). He has a bachelor’s degree in business with a concentration in finance and accounting. In addition to his experience with the Volunteer Income Tax Assistance program while at MSU, he worked as a tax intern for Rudd and Company. Blake is studying for the CPA examinations.

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Sara Williams

Sara first started with XY Planning Network as a Member Experience Specialist where she served members in the Building/Scaling phase of their firm journey. She is now the Operations Specialist for XY Tax Solutions (XYTS), a role that merges her passion for building and refining processes with her love for helping members.

She is honored to serve members in a different capacity and spends her days evaluating XYTS's processes/workflows and aligning its business operations with the needs of advisors and clients.

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Chelsey Patera

Chelsey is a recent graduate from Montana State University with a bachelor's degree in business and a focus in accounting. She is Bozeman native with strong ties to the community. While in college, Chelsey interned with Franks and Associates, CPAs. Chelsey is studying for her CPA certification.

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Sam Nguyen, CFP®, EA

Sam Nguyen has over 11 years of experience in tax planning and preparation in the financial planning industry. He is an Enrolled Agent, a CERTIFIED FINANCIAL PLANNER™, and graduated from Virginia Tech’s financial planning program in 2009.

Sam has extensive experience working with financial planners and their clients, and knows that understanding the goals and the comprehensive financial planning picture of a client allows for better tax planning and advising.

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Jeff Brainard

"I'm incredibly happy with how things moved forward with [our client] and we will be recommending a lot more clients come to you for tax prep."

 

Jeff Brainard, CFP® // Managing Partner & Individual Wealth Strategist, Noble Wealth Partners