Tax Marketing Success System

Discover How To Become The DOMINANT Tax Return Preparer In Your Area In 2012!

Regardless of whether you have an established tax practice or are just starting out, one simple fact stands out above all other things in your role as a tax professional:

If you can’t get clients, you’re going to starve.

It’s a very, very simple equation: If you prepare tax returns for a living, then you need people walking through your door with a tax return needing prepared in order to make a living!

Even if you have an established practice, you need to replace return volume that you are losing to tax software, IRS Free File, or even tax practitioners that ARE mastering the keys to attracting customers.

Fortunately, just like being a tax professional, becoming great at getting paying clients is nothing more than another learned skill that ANYBODY can master.

As a tax practitioner, you should take great pride in your education, in your tax knowledge, in your ability to recognize missed opportunities for tax savings, and in your ability to prepare an accurate tax return.

At the same time, however, you should take great pride in knowing how to make yourself available to the people that need your expertise. After all, that’s what we do, right? We help people. Therefore, you should feel GREAT about learning and doing marketing, because by learning and doing marketing, you are doing the things necessary for the people that NEED YOU to actually be able to FIND YOU.

When you understand both the theory and the practical mechanics of marketing, you can literally create a MACHINE that runs almost on auto-pilot, that brings you in a steady stream of new prospects. And when you understand “sales”, you know how to convert those prospects into clients — and the best part is that there is nothing required from the old fashioned notion of what “selling” is. In reality, as a service professional with your marketing done properly, people don’t need to be “sold”. Instead, the “sales” process becomes merely the initial consultation, and “closing” is simply the act of preparing their tax return and getting paid.

Marketing and sales are, in my mind, such interconnected processes that it’s hard for me to separate them. Some people view marketing as the process to get them to come to you, and sales as the process where they pay you. To me, sales is a natural … Continue reading

Is the IRS Holding Your Unclaimed Refund Check?

Finally, a happy thought when it comes to taxes: The IRS may be holding money that is yours, and they really, really do want to give it to you!

If you had a job and had income taxes withheld from your paycheck, but you didn’t file a return either because you didn’t have to because of your income level or because you thought you wouldn’t get the money back, you may actually be in for a surprise. It may not necessarily be a lot of money, but I believe you should even file your claim for a $10 refund merely on principle if it’s owed to you.

The IRS keeps millions of dollars every year that they are not legally entitled to keep, simply because taxpayers didn’t realize they could get the money back. In order to file a return for the express purpose of getting a refund, even if you weren’t legally obligated to file a tax return, you need to file the return and request the refund within 3 years of when the tax return was originally due, which is generally April 15th of each year for personal income tax returns. After this three year period, the government says, “Too bad, so sad” and gets to legally keep your money.

If you file a tax return late, but are due a refund, there are no penalties for late filing. They only whack you with late filing penalties if you OWE money, and then it’s a percentage of what you owe (Caution: It’s a BIG percentage if it’s been a while).

If you’re not sure if you would end up owing or getting a refund, here’s a quick tip: Most tax preparers will run the numbers through their computer for you for free, and only charge you if you actually file the return. It’s worth visiting one of the local tax firms listed in our directory to find out if you might be due a refund.

In addition, the IRS receives millions of dollars of refund checks back in the mail every year. If you were expecting a refund check, and it didn’t come, then don’t forget to give the IRS a call (800-829-1040) and ask them where your refund is. There is also a simple and handy “Where’s My Refund?” feature on their web site, at irs.gov.

Lastly, be sure to take every tax break you’re entitled to. If you think your … Continue reading

Do I Need To Include My Wife’s Income In My Offer in Compromise?

Earlier this week, a reader inquired about whether or not he was required to include his spouse’s income when filing his Offer in Compromise. The reason it was in question is because they maintain completely separate financial lives. They file separate tax returns, have separate bank accounts, and don’t even title anything jointly.

Before you question why somebody would do something like that, there are actually numerous reasons for doing so, especially in regards to various aspects of state law. There are also business and asset protection reasons for keeping things separate. For example, if one spouse owns a business or is involved in a profession or activity with a high degree of litigation, then keeping different financial houses can be a good idea.

Here’s the answer to the question: Believe it or not, even if only one person owes the tax liability, the income (and allowable expenses) of everybody in a household must be taken into consideration in the Offer in Compromise application process. This applies to everybody living in the home — even people just renting a room from you.

Now of course, your representative will work to get the non-responsible party’s income and expenses taken off the reporting requirements. Under the tax code, the only person responsible for an IRS tax debt is the person against whom it is assessed, and nobody else.

If you need help with your Offer in Compromise, search our directory to find a tax firm near you that specializes in IRS Collections representation.… Continue reading