Tag Archive | "CPA tax"

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Too Late to Save $9,500


I had to tell someone yesterday that it was too late to save him $9,500 from his tax bill.  That’s because he’d already filed his 2008 tax return and THEN sent it in for me to review.

I can tell you exactly what would have happened if he’d sent in a draft of his return for review two months earlier.  I would have looked at it and stopped it right there.  I would have shown him how we would change his 2008 return so he paid $9,500 less. Plus, we would have then been able to take the loss back 5 years so that he would end up getting a refund of at least $25,000 from past returns.

The problem is that the tax strategy involved an election that had to be made on the original tax return.  It wasn’t made and there was no way to fix it now.

Waiting two months cost him $34,500.  If it seems like you’re paying too much in taxes, you probably are.  Don’t wait!

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Coaching Sessions Are FREE! Bonus to Clients

16 January 2010

If you haven’t yet checked out the coaching schedule at USTaxAid, take a second to do it here: http://www.usataxaid.com/coaching/ We’ve had a record number of people sign up for the coaching classes and are getting rave reviews.  Our next session is January 22nd on C Corporation Tricks and Traps.  When you sign up, you get copies [...]

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Announcement

Are You Saving Taxes The Wrong Way?

25 January 2010

Every week I do FREE! tax reviews of past tax returns. In many cases, I find easy solutions that would have saved the taxpayer tens of thousands of dollars in taxes each and every year.  In a few cases, I can’t find anything and I’m the first one to say that.  I never want to [...]

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Success Stories

EA, CPA or Tax Attorney?

08 September 2010

Every so often I read an article making some outrageous claim about Enrolled Agents (EAs) being better than CPAs, or vice versa. And then someone will quote a tax attorney who knows the theory but not application and it gets really convoluted. When do you use an EA or a CPA or a Tax Attorney? Right [...]

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