What I’ve learned working with various CPA’s over the years is that if they don’t truly understand your business model, then you are probably paying too much in taxes. This is precisely why I recommend Polston, because they will look under the hood of your company and implement effective tax reduction strategies tailored to your vertical. Tax laws are constantly changing, which is why I find it crucial to have solid accounting expertise in your corner.
Daniel K.
Getting into an installment agreement can help end your tax problems, but if you’re not careful, you can default and have more tax issues. That is what happened with one of our clients who ended up defaulting their installment agreement two times! Our clients had a tax liability due to several years of not being able to afford their taxes and came to us for help. We were able to set up an installment agreement for the clients and helped them avoid any liens or levies. Our client’s installment agreement ended up defaulting after they did not pay their taxes for the next tax year. We were able to negotiate a new installment agreement with the new tax liability and settled our client’s case again. Later on, our clients had their tax return reconfigured by the IRS after they didn’t account for their gambling winnings of over $100,000. This increased their tax liability exponentially and ended up defaulting their installment agreement once again. By the time the second installment agreement defaulted, our client had lost his job and was living off Social Security. We were able to not only appeal the threat of a levy that our client received, but we were able to set up a third and final installment agreement for our client. We were able to secure a Partial Payment Installment agreement for $25/month, which saved our client over $245,000.