Your Success is Our Mission

Throughout our history, we have saved a lot of money for a lot of clients. We are proud of our record and would like to share some of our favorite success stories with you. Of course, we withhold names for confidentiality.

An IRS Nightmare

The owners of a professional service company—we’ll call them the Smiths—sold their business in another state and moved to the local area to start another business. The terms of the sale stipulated that the Smiths would receive a portion of the payment as cash with the remainder to be financed personally by them. They panicked when the IRS imposed an enormous tax liability on the sale, amounting to more than $150,000, including penalties and interest. They had no way to pay this sum and no way to determine if this figure was accurate. Furthermore, with a tax liability like this, there was no way for them to get their new business off the ground. Before long, the IRS was taking aggressive measures to collect. Wage garnishment and withholding future tax refunds were just the beginning. When the Smiths tried to refinance their mortgage, they found the IRS had put a lien on their home.

They were in real financial trouble. They consulted several CPAs who told them this situation was too complicated for them to handle and recommended they consult a larger CPA firm or a tax attorney.

Then a business associate, one of our clients, referred them to us. After an initial consultation and review of the tax return prepared by their former CPA, we performed an audit—and uncovered some serious errors. To help the Smiths get their financial train back on the rails, we then contacted the IRS on the Smiths’ behalf. We asked the IRS for time to amend the return and to put a hold on collections. With those requests granted, we then amended their original tax return and filed paperwork to have the lien on their home released.

The end results:

  • Thanks to our efforts, the IRS eliminated the Smiths’ tax liability, penalties, and interest in full—totaling more than $150,000.
  • The Smiths not only had their lien and garnishment released, but the IRS issued them a refund of more than $13,000.
  • With the lien removed, their home refinancing went smoothly.

Do you want to be one of our Success Stories? CONTACT US TODAY.

They Thought They Just Needed Taxes Filed…

The owners of a multimillion-dollar service company came to us, asking solely to have their taxes done. They thought everything would be simple.When we sat down together to review their books, we quickly uncovered some serious problems:

  • Given their type of business, their profits were significantly lower than they should have been for a company of that size.
  • The owners were unable to draw an appropriate salary for themselves.
  • The company had no internal accounting controls.

We also determined that one of their greatest needs was to expand and that they would be good candidates for a loan to do so.

Instead of the just doing their taxes, we took on a more significant role. We …

  • Sought reasons for why they weren’t generating enough profit.
  • Suggested changes to their business practices and followed up to oversee implementation of the changes.
  • Instituted controls to upgrade their internal accounting practices.

Through our network of business contacts, we got them a loan for their expansion.

The end results:

  • Their profit margin increased 6% on average.
  • The owners were able to draw a reasonable salary.
  • The solid internal controls identified fraud that had been taking place and helped them eliminate it.
  • The expansion loan resulted in a 15% increase in sales.

Do you think we can help you in a similar way? CONTACT US TODAY.

JodySuccess Stories