How to leverage PHCs as an accountant

PHC: Turn $1.00 into a $100.00 donation with PHCs. Pet Hotel Credit, valid for use at Universal Canine Health Care company’s pet hotel in Arizona. PHCs can be used to house any dog from any of the canine kill shelters that have received pet hotel credits.

  1. Access your current book of business.

  2. Identify which clients would benefit from legitimate additional deductions.

  3. Accountants pre-purchasing PHCs receive a $100.00 to $1.00 ratio on their purchases. The consumer rate is 50:1, so prepurchasing is recommended.

  4. Sell your PHCs to the clients that will benefit from additional deductions. Accountants can choose the price they sell PHCs at if they have pre-purchased the PHCs or they can transfer them at no charge to their client. The accountant has full control of this option.

  5. The accountant or client will need to contact UCHC and donate the PHCs for transfer to a local kill shelter.

  6. UCHC will provide a donation receipt like the one on the UCHC homepage.

  7. When filing their taxes, the accountant’s client needs to claim the donation as an in-kind donation and will receive a 50% deduction on the value of the PHCs donated.

EXAMPLE:

  1. The accountant purchases $500,000.00 in PHCs for $5,000 and transfers them to their client.

  2. The client claims a $500,000 in-kind donation and received a $250,000 deduction on their income tax.

  3. The client receives credit for their tax rate, apportioned to the donation. A 30% tax rate, for example, will recover $75,000 in tax debt for the client, and result in a $500,000 Pet Hotel Credit donation to a kill shelter neighboring Arizona.

IMPORTANT NOTE:

PHC donations rollover. So if a client is not able to benefit from the full deduction in year one, the remaining deduction WILL roll over until it has all been used by your client.