- 1. Dream It Tonight. Achieve It Tomorrow!!! TAX RESOLUTION .
CauseEffect. Cure. Presented byDaymond M. Milam, MBAAccountant /
Consultant www.1bettersolution.com
2. Two Things Are Inevitable Death and Taxes George Washington,
First United States President 3. Types of Taxes
- Income Taxes 4. Payroll Taxes 5. Estate Taxes 6. State &
Local Government Taxes
7. Cause. Effect. Cure.
- Why Does One Need Tax Resolution?
8. Somewhere YouFAILED
- Failureto File 9. Failureto Submit Timely Payment 10. Failureto
File Correct Return 11. Failureto Retain Adequate Records 12.
Failureto Listen
13. What Are The Effects of Non Payment of Taxes
- Loss of Personal Assets 14. Loss of Business Assets 15. Levies
and Wage Garnishments 16. Cash Receivership( aka Blocked Bank
Account)
17. Offer In Compromise
- An (OIC) is an agreement between a taxpayer and the Internal
Revenue Service that settles the taxpayers tax liabilities for less
than the full amount owed. Absent special circumstances, an offer
will not be accepted if the IRS believes that the liability can be
paid in full as a lump sum or through apayment agreement .
18. Three Types of OICs
- Doubt as to Collectability
- Effective Tax Administration
19. Doubt as to Collectability
- Doubt exists that the taxpayer could ever pay the full amount
of tax liability owed within the remainder of the statutory period
for collection
20. Doubt as to Liability
- A legitimate doubt exists that the assessed tax liability is
correct. Possible reasons to submit a doubt as to liability offer
include: (1) the examiner made a mistake interpreting the law, (2)
the examiner failed to consider the taxpayers evidence or (3) the
taxpayer has new evidence.
21. Effective Tax Administration
- There is no doubt that the tax is correct and there is
potential to collect the full amount of the tax owed, but an
exceptional circumstance exists that would allow the IRS to
consider an OIC. To be eligible for compromise on this basis, a
taxpayer must demonstrate that the collection of the tax would
create an economic hardship or would be unfair and
inequitable.
22. OIC Payment Options
- Lump Sum Cash Offer 23. Short Term Periodic Payment Offer 24.
Deferred Periodic Payment Offer
25. Who Can Help??? 26. Why Choose Solutions?
- Other organizations plagued with complaints 27. Solutions is
the only organization that provides other accounting services 28.
Solutions offers financing options for services rendered 29.
Solutions is locally owned and operated
30. IRS Warning
- Taxpayers should beware ofpromoters claimsthat tax debts can be
settled through the offer in compromise program for "pennies on the
dollar".
31. Other Services We Provide
- Monthly & Quarterly Financial Statement Preparation and
Analysis 32. Payroll Administration 33. Installation &
Maintenance of Computerized Accounting Systems and Networks 34.
Business Plans and Loan Packaging 35. Corporate, Partnership,
Fiduciary & Individual Income Tax Preparation.
- Business Set-Up, Acquisitions & Dispositions 36. Grant
Writing & Proposals 37. Incorporations (C-Corporations,
S-Corporations, LLC, LLP, PA) 38. Financial Analyses and
Forecasting 39. Efficiency Improvement 40. Other Services (designed
to fit your needs)
41. OurClientele
- Health Care (Hospitals & SNF) 42. Professional Services
(Legal, Real Estate, & Insurance) 43. Retail 44. Not For
Profits (Churches, Schools, Civic Organizations) 45. Entertainment
(Artists, Musicians, Producers) 46. Independent Contractors (Mary
Kay, Avon,etc.) 47. Construction & Property Management 48.
Investors (Real Estate, Stock, & Other)
49. Our Contact Sphere
- Bankers (SBA Lenders and Business Bankers) 50. Attorneys
(Corporate & Tax) 51. REALTORS (Commercial & Residential)
52. Commercial Loan Officers / Mortgage Officers 53. Insurance
Agents 54. Financial Advisors
55. Referrals WeLOVE
- Individuals and /or Business with Tax Problems (i.e.
Garnishments, Levies, Liens, etc.) 56. Businesses Experiencing
Growth 57. Businesses with 3 or more employees on payroll 58.
Businesses wanting to secure financing 59. Individuals desiring to
go into business 60. Anyone Required that wants aRELATIONSHIP WITH
THEIR ACCOUNTANT!!!!
61. Other Hand Out / Trivia