Wesley Snipes was once best known for his work as an actor, particularly for his role as the vampire-hunting Marvel superhero, Blade. Unfortunately, when Snipes makes headlines these days, it’s usually due to his ongoing tax battle with the IRS. Continue reading
Political Powerhouse Tries to Leave IRS in the Dark
Unless you have been living under a rock, you’ve probably heard of Paul Manafort and the millions he failed to pay the IRS in taxes. Due to the brief time Manafort spent as President Donald Trump’s campaign manager during the 2016 election, Manafort’s tax fraud and other crimes were often spun based on political leanings. However, the fact remains that the millions Manafort owed and the lengths to which he went to defraud the IRS are astonishing. Here are a few of the highlights that make this story so Extraordinary. Continue reading
Do you think the tax resolution market is too saturated?
I get this question all the time. Instead of the myth, let’s look at the facts.
The Real Facts:
There are only 3,500 to 4,000 firms nationwide that are doing tax resolution today in any meaningful way. But only 200 of those firms do tax resolution as their number one source of revenue. So, the majority, over 90% of firms view tax resolution as just “something they do” if one of their clients’ needs help. In other words, they don’t invest a lot in marketing this service. They have traditional practices with very little emphasis on IRS Representation.
However, there are 14 million taxpayers in the IRS’s collection division right now that have an IRS tax debt large enough to warrant professional representation. 19 million people owe the IRS $391 billion dollars right now. There has never been a time that more taxpayers are in trouble with the IRS than right now!
If you want to learn more Facts vs. Myths regarding getting into tax resolution, watch the video above.
It’s the new year, and winter is here — and I don’t mean January-February snowstorms. Roslyn and I had the privilege of hanging out with Tony Robbins at a private cocktail hour with around 20 other people. Tony shared his idea of winter, and his version is more along the line of a cold financial season. I recently read his new book, “Unshakeable” where he talks in depth about corrections and crashes from the tech bubble burst in the late ‘90s, the stock market plunge in 2001, and the housing market crash in 2008. He shares the steps to take, and how to prepare, for the next financial winter.
At the cocktail hour, I asked him when he thought the next winter was coming. Now before you get nervous about what that means for you and your business, let me share that I had my tax resolution company during all of those “winters” I mentioned above, and that’s when business soared. I coined a phrase early on in my tax resolution career that went like this: “Bad is good and good is bad,” meaning the worse off the economy or the taxpayer’s financial condition are, the better the settlement or ‘deal’ the IRS was willing to accept. Although Tony talked a lot about “winter,” he also emphasized that “spring” always follows. Tony points out in his book that since 1946, there have been 14 major bear markets. On average, they last about a year, followed by a strong surge in stocks and the S&P 500. So it’s not if, but when, the next economic downturn hits. Be prepared and embrace it, knowing “spring” is right around the corner.
You might be wondering how I had the opportunity to hang out with Tony Robbins. It just so happens that one of my coaches, Dean Graziosi, from the mastermind group I’m a member in, is friends with Tony Robbins. Dean asked Tony if he would join our mastermind group at a special cocktail hour during our annual conference. What can I say? It was very cool hanging out with him. He shared so many amazing stories about some of the people he’s met in his life, and this man has met almost everyone.
Besides the upcoming winter — seasonal and otherwise — I’m also opening up my mastermind group for 2018, as I have three seats available. I will be going into my fourth year of putting on a mastermind, and it’s very exciting for me to see the leaps, bounds, and life-altering results so many of the members have made in their lives and businesses. But even with three exciting years of holding mastermind meetings behind us, Roslyn and I are always looking for ways to bring more value to this select group. And with the upcoming 2018 year, I’m ready to switch it up for my Platinum Mastermind Group. Not only will I be sharing all of my marketing and sales secrets I used to go from $0 to $23 million a year in revenues, but I’m also going to include methods, strategies, and processes for workflow management and technical proficiency. After all, I personally worked on over 2,000 tax resolution cases during a span of 16 years.
The real beauty of a mastermind group is that members won’t just get to talk to us about their businesses — they get to talk to each other. Basically, the mastermind group will give you a behind-the-curtain look at 15 different practices in the tax resolution services industry. Each of them rely on different business techniques, sales models, and marketing strategies, and have experienced their fair share of success. People who are selected to join the group have already experienced success in tax resolution, but want more.
What normally takes someone years to achieve can be done in 12 months because you are no longer trying to reach your goals alone. In a mastermind group, you’re surrounded by like-minded individuals who have their own advice to share, helping you achieve success of your own. Mastermind groups act as an incredible “life hack” for both your business and your personal well-being. After joining a mastermind, people find themselves eating better, feeling healthier, helping more people, and becoming more connected to their community, in addition to taking their practices to new heights at unprecedented rates.
Why am I so confident mastermind groups are worth the investment? Because I’ve been involved with groups like these as far back as when I started my tax resolution services company. At the time, I made it my business to attend every event in the country and associate myself with top people in the field, so I could learn from them. Over 20 years later, I’m one of those top people, and connecting with other successful individuals is how I got here. And as mentioned above, I’m still involved with a lot of them.
Beyond the knowledge I’ve gained, mastermind groups have led me to making truly great friends. They’re the kind of folks who have a similar mentality, understand what you’re going through, and want to really help and support you. I really enjoy being around that crowd. People say your income is the average of the five people with whom you spend most of your time. If you are spending time around successful individuals, how do you think that impacts your income and your life?
At the end of the day, I want to help people improve themselves. If you believe joining a mastermind group could help you in some way, and you are serious about rolling up your sleeves and taking massive action, I encourage you to take advantage of this opportunity. Unfortunately, I don’t have enough pull to get Tony Robbins to speak at one of my meetings, but I do plan to have speakers who will help members with their specific needs. One of the best things I have ever done for myself was to join my first mastermind. If you would like more information, please contact Becky (Becky@rozstrategies.com) or Sue (Sue@rozstrategies.com, and they can send you the Platinum Mastermind Group Assessment and Application form to complete to see if this might be a good fit for you!
A few months ago, I attended my nephew’s wedding in Rhode Island, and one morning my brother and I were outside our hotel when we noticed that the man who walked out and stood next to me looked like Alice Cooper. As he waited for his car, my brother and I just looked at each other, sharing twin expressions of shock.
Sure enough, it really was the legendary rock star. I know it might be hard to believe, but back in the day, I was a huge rock ‘n’ roll fan. In 1972, I spent hours standing in a field in New Jersey to see Pink Floyd and the Doobie Brothers, among many other rock concerts. Of course, we couldn’t pass up the opportunity to say hello to Alice Cooper. He shared that he had performed a concert in New York the night before with Deep Purple and The Edgar Winter Band and was just about to head out for his solo tour in Europe.
For a rock star who made a name for himself after the chicken incident in 1969, Alice Cooper is a hell of a nice guy. For anyone who isn’t familiar with the chicken incident, let me explain. Back in 1969 Alice Cooper and his band were performing at the Toronto Rock & Roll Revival, a 12-hour music festival with a huge lineup of rock bands. When Alice Cooper was onstage performing, he noticed a chicken next to him, and thinking it could fly because it had feathers, he threw it out into the audience, where, sadly, it was torn apart. And in the world of no PR is bad PR, it made the band get noticed in a big way. Here’s another part of the story of that infamous night that only few know: Before Alice even got onstage, he negotiated a strategic move with the promoters. At the time John Lennon had just split from the Beatles and performing at the Toronto music festival would be his first appearance on his own. Alice Cooper turned down a 30 percent take on the revenue split, opting instead for $1 if they would put him at the prime-time slot in between John Lennon and The Doors. Now that’s what I call a smart business move.
I enjoyed talking with Alice, as we discussed music, the various places he’d been, and the shows I’ve seen over the years. At one point, I mentioned my 1968 Oldsmobile 4-4-2, and I was shocked to learn Alice Cooper is a car guy, too (he has many more cars than I do!). Before the conversation was over, he even introduced us to his wife, Sheryl Goddard. You’d expect a rock star in his late 60s to be with a woman half his age, but those two have been together since they were married in 1976.
When it came time to work on our latest newsletter, I knew, without a doubt, that this is the story I would be telling. How could I not? And, this also happens to be a great example of the kind of stories you should share in your own newsletter.
Insider’s Circle members receive a done-for-you newsletter from us to send to your clients, referral sources, and leads. The idea is to make it as easy as possible to send out your newsletter, but don’t think every part of that newsletter is set in stone. If you have an interesting personal story you want to share, by all means, use it in place of the done-for-you cover!
Personal covers are incredibly effective, especially if you have a story that will resonate with your readers. Let’s say you’re a CPA who specializes in the construction industry, and you happen to meet the head guy of the association at a conference. If you chat with him, get a picture, and put that story on your newsletter cover, it’s sure to interest your readers who work in construction and will likely know who that guy is. Stories like this make you human, and that’s important, because people don’t want to do business with companies; they want to do business with other people. What’s more, when you are able to associate yourself with a celebrity, it adds to your credibility as the expert and gives your business a boost.
It was fun talking with Alice, and learning that not only is he a good entertainer, but also good at business, and that made me like him even more!
Tax Practitioners: The Extension deadline has just passed!
In the next few weeks you’re going to start receiving those pesky IRS and State notices on behalf of your clients that you just filed tax returns for. And if you’re like 80% of the practitioners I speak to you’re going to be handling that follow-up work for free. You’re not going to charge for it. And here are some of the reasons why you’re not going to charge for it:
Number one: You think the client thinks that that’s included in their tax preparation fee, but we all know that’s not true.
Number two: You’re worried that if you do charge, the client’s going to think you’re nickel and diming them and you’ll lose the client.
What if I told you there’s a way to get paid for 100% of that work?
Not some of the time, but ALL the time!
I’m doing a Free Master Class Training
On Thursday, November 9th at 11am Pacific / 2pm Eastern
- I’m going to show you how to get paid for every single minute you spend on doing that follow-up work without sending out billing statements.
- I’m going to show you how you can systematically enroll 85-96% of your clients in your very own audit protection plan that guarantees you get paid for all post-follow-up work.