Recession? What Recession?

In the tax resolution world bad is good and good is bad. What I mean by that is, the worse off your client’s financial situation is, the better deal they’ll get with the IRS.  If he/she has a lot of money left over at the end of the month, and/or significant equity in assets, the worse deal they’ll get with the IRS.  The “better” things are financially, makes it harder for them to qualify for an offer in compromise or a partial pay installment agreement.

With inflation at a 40-year high, food prices, gasoline, interest rates and rents are all going up, all point to an impending recession. For the tax resolution specialist, a recession is good for business because more people will qualify for debt relief as in an offer in compromise. As mortgage rates increase, home prices will level off, and then decrease in certain parts of the country.  This is good for us in the tax resolution business.

You do not have to be afraid of a recession. Quite the contrary. Resolution is a great way to recession proof tax prep and accounting practice. The IRS does not care if the economy is thriving or on the verge of a meltdown, their only goal is to assess and then collect what they are owed, recession or not. It’s a mindset shift to think of the recession as a good thing for tax resolution, especially after repeatedly hearing the negative effects it will have on businesses and the price of goods and services. But it is during this time that you could have your most profitable years in business.

I had my best years during the last two recessions. The first one was the dot com bust in the early 2000s, but the Great Recession, that started in 2008 and rippled through the economy until 2012 were my biggest years on record, why? More people than ever qualified for relief, especially when it came to offers in compromise and partial pay installment agreements. A recession is a good thing, don’t be scared off. If you’re in the tax resolution business now is the time to get the word out there that you help people with IRS problems.

I want YOU, to experience your biggest year yet, and that’s why I’m running my only once-a-year 5 Day to 5K Tax Resolution Challenge workshop where I will come alongside you and coach you for free beginning Friday, July 8th, so you can get your first, or next new, $5,000 tax resolution client in 5 days or less!  Let me show you how… This is going to be something you don’t want to miss. Click here to claim your free spot and learn more about the Challenge!