JK Harris Goes Out of Business

Back in October, the largest tax resolution company in America, JK Harris, filed for bankruptcy under Chapter 11, which would have allowed them to continue operating and restructure their debts under a payment plan.

However, their largest creditor, which appears to have had a claim against the company exceeding $11 million, has decided not to allow them to restructure the debt, and has instead seized all the companies cash and assets in a liquidation of the company.

This means that, within the past 15 months or so, the 3 largest tax resolution firms in the United States have gone out of business, either by bankruptcy or government action. A little over a year ago, American Tax Relief in Los Angeles was shut down by the FTC, and the owners are facing numerous criminal charges. In early 2011, Roni Deutch was shut down by the California Attorney General, and Roni herself was forced to turn in her law licensed and faced state perjury charges.

JK Harris has been the target of several class action lawsuits regarding their sales practices and poor customer service. They have also been investigated by the Attorneys General for several states.

If the closing of JK Harris has left you in a bad place regarding your tax matters, please contact a local taxpayer representation firm from our directory.… Continue reading

JK Harris Closes Doors, Creates Market Opportunity

The largest tax resolution firm in the United States, JK Harris, has closed it’s doors.

They had filed for Chapter 11 protection back in October, but their largest creditor opposed the reorganization plan, and seized assets on Friday.

What does this mean for you? With the single largest national competitor gone, there is suddenly a tremendous vacuum in the tax resolution marketplace. You, as a local tax professional, can step in to fill that void.

JK Harris had thousands of clients across the country, and those clients are suddenly left without any representation. that means now is a great time to step up your marketing and take advantage of the situation.

To take advantage of this opportunity, take a gander at our tax resolution marketing articles to learn how to attract these new clients to you.… Continue reading

How To Create Systems For Use In Your Practice

Yesterday I wrote to you about why systems and procedures are so important to have in your business. Today, let’s delve into actually creating a checklist.

To begin with, I think it’s important to start from the big picture and then delve deeper into your business processes. With that said, what are the major, big picture things that a business has to focus on? For a tax practice, this list might look something like this:

1. Client acquisition (marketing & sales)
2. Client retention
3. Client case work

From this, you can develop sets of systems that focus on each of these areas.

Yesterday, I mentioned my friend James Orr and what he’s done in regards to building systems. On his real estate blog, for example, he shares his real estate investor daily marketing checklist. Take a look at this, and notice that this checklist itself branches off into more detailed checklists.

For a real estate investor that is looking to purchase properties at below market value, he has to conduct a number of different marketing campaigns to achieve multiple, parallel objectives in his business. He has to buy houses, sell houses, rent houses, etc. The same is true for your tax practice. Depending on your particular practice areas you may have very different marketing to do to fill various holes in your client activity. For example, your daily marketing checklist might look like this:

1. Marketing to acquire 1040 preparation clients
2. Marketing to acquire 1120/1065 preparation clients
3. Marketing to acquire payroll service clients
4. Marketing to acquire clients for wealth management services
5. Marketing to sell tax resolution services
6. Marketing to sell examination representation services

Then, you need to look at each of these particular items and create procedures for them. If this sounds overly complicated, it’s not. In all reality, you probably already have some sort of process going on in your firm for getting an objective accomplished, it just isn’t documented in writing yet.

In order to begin documenting your existing systems, start with the person that actually performs the task already. Have them write out what they do, how they do it, and any hidden stumbling blocks, “gotchas”, or tricks that only that person knows regarding being successful at the task.

While this might sound pointless, it’s not: It gives you a place to start, which is the most important thing. Once you have something in writing, … Continue reading