Tax Resolution Business
Celebrating Milestones: A Birthday and a Major Tax Win
This past weekend, I had the joy of celebrating my granddaughter Emma’s third birthday. She was surrounded by balloons, cake, and a whole lot of excitement. At that age, everything is a big deal—every gift is the best gift ever, and every moment is filled with wide-eyed wonder. Well, Jeff…
From Side Hustle to Success: Ben Butterfield's Tax Resolution Journey
Ever think about getting into tax resolution but feel like it’s too risky or just not for you? That’s exactly how Ben Butterfield felt. He was working a 9-5 with a steady job, unsure if tax resolution was even worth the effort. But after hearing about others who built thriving businesses in this…
Breaking Free from the 1040 Hamster Wheel: Ed Welch's Journey
Ever feel like you’re spinning your wheels—working hard on 1040s but not really getting ahead? Like you know you’re meant for something more, but you just can’t seem to connect the dots to make it happen? In 2024, Ed Welch, CPA, was right there with you. He’d built a solid tax prep business for 30…
How to Handle Clients Who Dishonor Recurring Monthly Payments for Services
Recurring monthly payments are a lifeline for maintaining steady cash flow in a service-based business, like tax resolution. However, when clients fail to honor their commitments, it can disrupt operations and create unnecessary stress. Below are five remedies to address this issue. 1. Establish…
Strategies to Boost Your Consultation-to-Client Conversions
Most practitioners blame “marketing” for a lack of new business, when in reality, they are getting leads but not converting them into paying clients. So, they really have a “sales” issue, not a marketing one. Your sales (consultation) process may be broken. Here are some tips that have helped me…
Understanding IRS CSED and RSED: What’s the Difference?
The IRS (Internal Revenue Service) has two important deadlines every practitioner needs to remember when it comes to taxes: the CSED and the RSED. Let’s break them down in a way that makes sense. What is the CSED? CSED stands for Collection Statute Expiration Date. Think of it like a timer. When…
How to Double Your Revenue in One Year
What if you could double your tax resolution revenue in just one year? That’s exactly what Michele Newman, Enrolled Agent, did. For 2023, her revenue from tax resolution was $86,000. But after making the decision to focus on IRS Representation she skyrocketed her earnings to $201,000 in 2024—a…
The Big, Ugly IRS Disconnect
Every month, I share a tip, strategy, or information that is helpful for those in the tax resolution industry. But this month, I had to share my opinion of how I see it with regard to what’s going on at the IRS and dealing with them. It amazes me how large the disconnect is between what the top IRS…
IRS Warns Taxpayers and Tax Pros to Watch Out for Emerging Scams
The Internal Revenue Service regularly reminds taxpayers to stay alert against scams during the tax filing season and throughout the year. Identity thieves use news events, including tragedies, to try to trick taxpayers. But it’s not only taxpayers who need to stay on alert; tax professionals also…
Meet Your Customers Where THEY Are
WHY YOU MIGHT NEED TO RETHINK YOUR MARKETING FOR HIGHER ENGAGEMENT A couple of times a year, we relaunch two of our core products by doing a webinar or four-hour masterclass. We’ve been doing these relaunches for the last eight years, and each time, we’ll do a big marketing push via our social…
Did You Know The IRS Is Using Chatbots
The IRS recently announced they are going to expand their use of chatbot technology to help quickly answer basic questions for people receiving notices about possibly underreporting their taxes. The new chatbot feature will assist taxpayers who receive notices CP2000, CP2501, and CP3219A. These…
The IRS Update
As you know by now, Congress authorized $80 billion for the IRS as part of the 2022 Inflation Reduction Act. Of that $80 billion, $45.6 billion is earmarked strictly for compliance and enforcement. The IRS is using most of this money to hire 87,000 new personnel and to modernize their 1960s-era…
Investing in Yourself
One habit that many successful individuals have in common is that they invest in themselves. Investing in yourself is one of the best things you can do for your professional AND personal growth. By improving your skills, knowledge, and expertise, you position yourself for success so that you can…
When to Hire and When to Fire
This month, I want to talk to you about two critical processes in a tax resolution (or any) business: hiring and firing. The success of a company is highly dependent on the quality of its employees. It’s essential to have a hiring and firing process that is efficient and effective. I see many…