*** LOOK AT WHAT Jeff The Tax Man (and good record keeping) DID FOR THE FOLLOWING CLIENTS. IT’S A TOTAL OF OVER $1,000,000 IN SAVED TAXES AND INCREASED INCOME FOR JUST THE CLIENTS ON THIS PAGE ALONE!!! FOR RECOMMENDATIONS FROM OTHER CLIENTS IN THEIR OWN WORDS, SEE JEFF PETERSON’S PROFILE AT www.linkedin.com. ***
** To become a client or to get our tax worksheets, go to the Tax Worksheets page. **
* We charge for our services, including telephone or email consultations lasting 15 minutes or more. For our rates, refer to our Policy Statement/Engagement Letter. *
Executive National Sales Director: When she, her husband, and one year old son moved from California – a move that will save them approximately $10,000 every year in state income taxes, nearly every top Director in the Dallas/Ft. Worth area to whom she talked recommended Jeff The Tax Man. In addition to having him prepare their tax return, she immediately invited him to speak to her Directors at Seminar so he could help them, too. Her trust was validated – within one year, he helped her and her husband incorporate, which resulted in their tax decreasing by $7,356, though their taxable income increased by $45,044 (i.e., they made $45,044 more in income, but paid $7,356 less in tax), saving them over $15,000 in tax. And now after two years, their total income has increased by $100,000 from what it was two years ago and yet their tax is the same as it was before they incorporated. Ostensibly, they got to keep all that extra $100,000. That’s what you call “Paying YOURSELF, not the IRS!”
National Sales Director: She and her husband know how important it is to have a tax preparer who understands her cosmetics business. Switching tax preparers from one who was fearful of the IRS to Jeff The Tax Man flipped their experience from paying $12,149 in additional tax in the prior year to getting a refund of $11,338 in their first year with Jeff The Tax Man. In addition, their state refund jumped from $1,240 to $5,342. Moreover, by going back and deducting everything to which they were entitled through amending their prior year tax return, Jeff The Tax Man recovered ALL $12,149 of unnecessary overpaid tax AND retrieved the $5,646 refund they should have received, for a total federal refund of $17,795 and state refund of $3,014, plus interest. That’s a total of OVER $37,500 they received in just their first year of working with Jeff The Tax Man. She subsequently had him speak to the top producers in her National Area at Seminar.
National Sales Director: After having Jeff The Tax Man speak to her Directors at Seminar, she accepted his offer to review her past 3 years tax returns for free. Although she had to pay a fee for him to ultimately amend those returns, it was well worth it, because he recovered over $7,000 from the IRS in taxes that should not have been paid. Moreover, his incorporation strategy is estimated to save them $10,000 every year. According to her, “You have been AMAZING and just what we needed in an accountant! There is a lot of peace of mind having someone who gets our business!”
National Sales Director: She received refunds of $745 and $3,534 from amending their prior two years’ tax returns – mostly because their former tax preparer was unfamiliar with how to treat her free company cars. Additionally, by incorporating a business for her husband, Jeff The Tax Man saved them $5,838 IN TAXES IN THE CORPORATION’S FIRST YEAR and OVER $250,000 since then. In one year alone, claiming an office in their home saved them $19,948 in taxes. She has had him educate her Units for over 15 years.
National Sales Director: Jeff The Tax Man amended their previous three years’ tax returns to recapture refunds for them totaling $6,461 plus interest. Since then, he has implemented an incorporation strategy that has saved them over $80,000 in taxes so far.
National Sales Director: Jeff The Tax Man amended their previous year’s tax return to recapture a refund for them of $6,683 plus interest. His incorporation strategy is projected to save them $8,000 to $10,000 every year. She likes his simplified, time-saving record keeping system so much that she has had him teach it to her Area at a Master Consultant Workshop, January Jump Start, and Fall Advance. At one event she also had him inspire her Area to reach for their God-given potential with his “Be Fruitful And Multiply” speech.
National Sales Director: In his first year working with this record-breaking NSD, Jeff The Tax Man reduced their taxes $5,884. The last two years they paid only $7,194 in tax on total revenue of $696,868. They were so impressed with his knowledge of taxes and their particular business that they asked him to educate their entire National Area. She subsequently taught his 1-minute per day record keeping system to all her new Consultants as part of their New Consultant Training.
National Sales Director: Before using Jeff The Tax Man, her tax was $7,413 on total compensation of $146,737, which he recaptured $2,608 of the tax by amending that return. Since using Jeff The Tax Man, her tax has been only $344 one year and $237 the next year on total compensation in those two years of $353,041.
National Sales Director: After Jeff The Tax Man spoke at her Fall Advance, 4 of her Directors had him amend their tax returns, for which he recovered $13,725 in overpaid taxes for them. Her report of him preparing her subsequent tax return was “This is the first time I think I have ever gotten a refund.” In fact, the two previous returns prepared by a firm in Clarksville, IN that prepares a lot of cosmetics business returns had results of her owing $2,813 and $6,900. On her first two returns prepared by Jeff The Tax Man, she received refunds of $1,152 and $4,569. She was ecstatic to receive the news from him of the results of her returns.
National Sales Director Emeritus: She was excited to find a Christian tax preparer who understood her cosmetics business and knew how to maximize its tax benefits. For less than half the amount they usually paid their former preparer, Jeff The Tax Man took them from paying the IRS $6,608, $12,860, and $27,957 to getting a refund!! Every year thereafter until she retired he spoke to her National Area at their Winter Workshop.
National Sales Director Emeritus: Jeff The Tax Man has been her tax preparer of choice for 15 years and has spoken to her Directors numerous times. She has also had him speak at Dallas area Directors meetings. In one five-year period with Jeff The Tax Man preparing her income tax returns she received total compensation of $966,889, yet paid only $5,024 in taxes.
Executive Senior Sales (Top Trip) Director: After hearing Jeff The Tax Man speak at her National’s Fall Advance, she had him review their past 3 years’ tax returns FOR FREE. He was able to recover $10,056 in refunds for her by amending them.
Executive Senior Sales (Top Trip) Director: She was referred to Jeff The Tax Man by another Top Trip Director because of all the money his S corporation strategy had saved them. He incorporated their business, too, which is saving them over $10,000 every year.
Executive Senior Sales (Top Trip) Director: She was referred to Jeff The Tax Man by the previous Top Trip Director (above). He amended their prior 3 years’ tax returns and recovered $8,500 in refunds. Then he helped them incorporate, which saved them over $7,000 in taxes its first year.
Executive Senior Sales (Top Trip) Director: Jeff The Tax Man has worked with her in various disciplines, including business consulting, incorporating, tax preparation, tax estimating, tax consulting, as well as financial, investment, and retirement counseling. She appreciates his faith-led advice, which has saved them tens of thousands of dollars during the last several years.
Future Executive Senior Sales Director: She and her husband know all tax preparers are not the same. When they got their tax return back from their former CPA, they were panicked to see it showed they owed the IRS $11,239. That’s when a Senior National Sales Director suggested they call Jeff The Tax Man and get a second opinion. He was able to reduce their tax bill by $6,964 – of which $5,013 was because he knows the best method to use to deduct the free company car.
Senior Sales Director: When her cosmetics business income jumped up to where their taxes doubled in size, she decided to see if Jeff The Tax Man could do a better job of preparing their tax return than her husband, who was an auditor. Amending their 3 prior year tax returns, Jeff was able to get them $17,097 in refunds, which more than paid their current year tax bill.
Senior Sales Director: In 1992, as one of his first cosmetics business clients, this Senior Sales Director was looking for a godly man to take a pro-active role in reducing their taxes. After amending their prior three years’ tax returns,Jeff The Tax Man was able to retrieve over $2,600 for them. Moreover, by incorporating her husband’s business, Jeff reduced their taxes $1,800 per year AND INCREASED HER HUSBAND’S INCOME BY $10,000 EVERY YEAR! She subsequently had him speak at a Dallas Area Directors meeting where several Directors booked him on the spot to speak to their Units, too. From that day on, he has never had to spend a dime on advertising, and today has hundreds of cosmetics business clients.
Senior Sales Director: Her husband was preparing their income tax returns until they heard Jeff The Tax Man speak to several units regarding the tax benefits of their particular type of business and how to maximize them. According to Jeff, the husband, who was a Telecom Director at Verizon (very intelligent), had done a great job preparing their returns. When Jeff The Tax Man amended their prior three years’ tax returns, he made essentially only two simple adjustments relating to the free company car and the office in home deduction. Yet because of Jeff’s unique knowledge of how to optimally claim these deductions on a tax return, those two simple adjustments resulted in refunds for them of OVER $9,000.
Sales Director: After preparing two years’ tax returns for her, Jeff thought she probably had more allowable deductions for a third year than was claimed by their former tax preparer. He amended that tax return and retrieved for them a $6,963 refund plus interest. For all three years, HER BUSINESS SAVED THEM OVER $26,000 IN TAXES, WITH WHICH SHE AND HER HUSBAND WERE ABLE TO BUY THEIR DREAM HOME!! She was so ecstatic that she had him come speak to a group of 17 Directors and 146 consultants in Austin, Texas who didn’t have anyone to prepare their tax returns who understands their business like Jeff The Tax Man. OVER A 5-YEAR PERIOD, HER COSMETICS BUSINESS SAVED THEM A TOTAL OF OVER $41,000 IN TAXES!!!
Record keeping Success Story: As part of an effort by the IRS to aggressively pursue small businesses, one client’s first contact from the IRS was an examination report wherein the IRS appeared to vicariously make changes to the taxpayers’ return without first reviewing and confirming the taxpayers’ records, or lack thereof, to substantiate business expenses reported on the return. As a result, the IRS deemed that the taxpayers OWED $418,000 in tax, penalty, and interest. The IRS offered two options – 1) the taxpayers could just accept the IRS’ “deemed” determination and pay the tax, or 2) meet with the IRS and disprove their “guilty” charges. They chose option 2. Jeff The Tax Man met with the client to review their records, instructed them how to organize their records, accompanied them to the audit, presented the appropriate documentation, and the IRS REVERSED THEIR TAX BILL TO $-0-!!!
Record keeping Success Story: Another client received a similar first contact examination report wherein the IRS appeared to vicariously make changes to the taxpayers’ returns without first reviewing and confirming the taxpayers’ records, or lack thereof, to substantiate business and farm expenses reported on the returns. As a result, the IRS deemed that the taxpayers OWED $70,000 in tax, penalty, and interest. As with the client above, Jeff The Tax Man instructed the clients how to organize their records, and then met with them to review the records before meeting with the IRS. After presenting their well organized records to the IRS, THEIR TAX BILL WAS REDUCED TO $-0-!!!
Record keeping Success Story: This Sr. Sales Director had heard Jeff The Tax Man teach his record keeping system for years. More importantly, she took it to heart and implemented his record keeping tips. After getting Jeff’s help to get their audit switched from an unreasonable, incompetent, and discourteous auditor – based on Jeff’s previous experience with that auditor, she applied the education she received from Jeff’s tax workshops and presented her detailed records to the auditor, who reversed a $15,000 tax assessment down to $-0-.
Office in home Success Story: After years of Jeff The Tax Man claiming an office in home for a client’s business that kept showing a loss, in a year in which the client’s business showed a net profit, the unallowed office in home deductions were allowed to offset all $47,467 of net profit and saved them $23,835 in taxes in that one year. THIS IS WHY Jeff The Tax Man CLAIMS AN OFFICE IN HOME ON (NEARLY) EVERY TAX RETURN.
Office in home Success Story: When a client sold their home for a loss, because Jeff The Tax Man had been claiming the office in home deduction all along, though IRS rules dictated that they could not claim the personal portion of the loss, the business portion of the loss from the sale of their home in which they had been claiming an office in the home SAVED THEM $9,025 IN TAXES. This is another argument for claiming an office in the home.
Office in home Success Story: One of Jeff The Tax Man’s clients had one office in their home for one business that kept showing a loss, and a second office in their home for a second business that showed a profit. When she merged the two businesses into one shared office space, Jeff The Tax Man accordingly merged the unallowed office in home deductions for the business with the loss into the office in home for the client’s business that showed a profit, which allowed her to offset $37,259 of net profit and saved them an estimated $8,849 in taxes. YOU ARE NOT GOING TO GET THIS TYPE OF OFFICE IN HOME EXPERTISE WITH MOST TAX PREPARERS, LIKE YOU DO WITH Jeff The Tax Man, BECAUSE HE CLAIMS AN OFFICE IN HOME ON (NEARLY) EVERY TAX RETURN AND PREPARES HUNDREDS OF THESE EVERY YEAR.
Retirement Plan Success Story: Jeff The Tax Man recommended a Solo 401(k) plan for this now National Sales Director Emeritus’ S corporation. Through it she was able to save in one year $35,750 toward retirement, deduct it from her and her S corporation’s tax returns, at a projected tax savings of $8,580, with a tax cost of only $$6,036.90. To contribute the same amount through an SEP plan would have a tax cost of $20,064.