Tax Resolution Practice Trends Podcast

Coronavirus and Tax Resolution

“ The ones who will profit the most during this crisis are the ones who weather the storm and don't retreat.”— Michael Rozbruch

The world is officially turned upside down, given the health hazards that the coronavirus is bringing. The stock market is going down. People aren't going to restaurants. We can't even go to the gym. Over 100 million Americans are under “stay at home” orders. Things are going crazy, and we know exactly how you feel. But what if we tell you that it's all about perspective?

In this episode, we’ll share with you how you can use the current situation to help your clients. Now is not the time to retreat. Instead, you need to adapt.

Part One of Coronavirus and Tax Resolution

Many of you prepare taxes, and perhaps you were squeamish about your data and files in the cloud. However, given the current Coronavirus situation, most people are working remotely. Ask yourselves, ‘wouldn’t it be better if you have everything in the cloud and that you can work and do tax returns from your couch?’ Using technology can make your entire team more efficient as well. “I’ve been through two of the most horrendous economic upheavals of our time - 9/11 in 2001 and the Great Recession of 2008.” - Michael Rozbruch

Part Two of Coronavirus and Tax Resolution

Here’s another thing. Since most of us cannot have face-to-face consultations in the office, you should master selling using your phones. It is imperative for your practice to thrive, to learn selling over the phone. And once you accept that you will learn these skills, you will free yourself from the fear of losing clients.

Do not stop your marketing efforts. Many tax resolution firms will stop their marketing, and it can lead to their business drying up. Don’t let that happen.

“In the tax resolution world, bad is good. Good is bad. When someone’s financial situation is at their worst, that’s the time to approach the IRS.” - Michael Rozbruch (02:39 - 02:45)

Remember that when people are facing financial challenges, that’s the best time they need to approach the IRS with an Offer In Compromise. Even if America gives every household a check with a hefty amount, it’s not going to last for long. There will be a lot of brick and mortar companies that will stop their operations. They will not be able to withstand a two-week or 30-day shutdown. They will need your help!

The main thing to keep in mind is that business is not static, it's cyclical. The ones who will profit the most during this crisis are the ones who weather the storm and don't retreat. I am here to help steer that vessel! I genuinely believe, in my heart of hearts, that when this is over (and it WILL end soon), your tax resolution businesses will explode, and your clients will be grateful for your help!

Stay Healthy, Be Smart, Stay Focused!

About Michael Rozbruch

Michael Rozbruch, CPA and Certified Tax Resolution Specialist, a pioneer in the tax resolution industry, has a proven “in-the-trenches” track record as evidenced by accumulating 168 months over month consecutive revenue growth culminating in $23 million in revenue in just one year alone. 5 Surefire Steps for Attracting & Retaining A Continuous Flow of Pay in Advance IRS Tax Problem Clients Every Month. SAVE YOUR SPOT NOW! https://www.rozstrategies.com/live-training/

Small Business and Coronavirus

“You need to be a leader for your clients right now.” — Michael Rozbruch

We are in uncharted waters. Everything seems to be upside down. But right now, we just need to breathe and think, ‘This too will pass.’ In this episode, we will share with you the reasons why you need to lead your tax resolution clients, especially in these trying times.

Part One of Now is the Time to Lead

First of all, there are some things which you need to understand. These should help you in keeping things in perspective.

One, you need to be grateful. Start your day by writing a gratitude list. Think of things that you are thankful for. Being alive is one good reason. The roof over your head is another.

Second, everybody is in fear and in panic mode. You can see that fear in the grocery stores where lines are as long as a football field. But what most people don't realize is that you just need to poke your finger through that thin fear. Now you’re on the other side.

“Fear is a mile high. It's a mile long. But you know what? It's paper-thin.” — Michael Rozbruch

Now, let's get back to reality. Right now, the filing season was extended to July 15th. It is excellent news for everybody in the tax business as it gives you a breather. It allows you to work ON your business instead of IN it.

As of the moment, with most of us being forced to work from our homes you should maximize the use of a VoIP phone system since you can just take the phone set from your office, plug it in at home and still be able to intercom team members as if you are in the office.

Some of the tools you can use for the business are Dropbox and Zoom. It can help you with file sharing and, of course, managing meetings and communicating with your team.

Part Two of Now is the Time to Lead

And for your clients, you need to lead for them. Now is the time that you show leadership and assure them that you are available whenever they need you. Make them feel that you care for them. When you do this now, people will remember you even after all these lockdowns are over.

It is not the time to isolate. Be out there and be visible.

A lot of people will have financial challenges soon. Unfortunately, a lot will even be unemployed. These people will need help. Because even if the IRS isn't charging penalties up until July 15th, we can expect that it will come in the months following.

“Stay in touch with them, contact them every 28 days, give them a case status update.” — Michael Rozbruch

You’ve got to be out in front of this. As their financial guy, you are the one who has the most confidential information about their financial situation. You are going to need tax planning.

Your accounting clients would want to hear from you. Stay in touch with them once a month. Just give them a status update even if nothing is going on with their case. You will be remembered and even get referrals by just constantly communicating with your clients.

How to Get Involved

Michael Rozbruch, CPA and Certified Tax Resolution Specialist, a pioneer in the tax resolution industry, has a proven “in-the-trenches” track record as evidenced by accumulating 168 months over month consecutive revenue growth culminating in $23 million in revenue in just one year alone. 5 Surefire Steps for Attracting & Retaining A Continuous Flow of Pay in Advance IRS Tax Problem Clients Every Month. SAVE YOUR SPOT NOW! https://www.rozstrategies.com/live-training/

Hey, it's Michael Rozbruch here, Creator of the Tax Resolution, Domination System and ToolKit and Founder of Roz Strategies.

And when is the best time to hire your next or new employee?

When is the best time to hire your newest team member?

OK, the best time to hire somebody is when you least can afford it, because if you're a solopreneur and you're a one-on-paper hander and everything revolves around you where you are the bottleneck and you're doing everything in your firm, you don't have a business.

You have a high paying job.

OK, to have a business, you need systems. You need predictable systems.

You also need to have people that you can delegate some functions to free up your time.

Because if you're a business owner, you should be spending most of your day generating leads and talking to qualified prospects, not actually working IN your business.

You should be working ON your business, and in order to do that, you need help meet team members that you can delegate to.

So when should you do that?

When should you hire that person?

When you least can't afford it.

Because something magical happens when someone is on payroll and you need to make that payroll every Friday or every other Friday, you start figuring things out on how to bring revenue into your firm.

It's very, very interesting what happens when you have someone on payroll.

All the things that you put on paper last month or the month before that you were going to do all of a sudden become top of the priority list and you start marketing and you start bringing in revenue.

The other thing too, is people ask me all the time, Michael, where can I find? Where do I recruit? How do I find my next new employee?

Now, this is counterintuitive because I don't recommend using ZipRecruiter.

I don't recommend using Indeed.

I don’t recommend using LinkedIn.

Here’s what I do recommend.

You have a plethora of emails from your other clients and previous clients. Use your current database as a jumping off point with the subject line could be: We’re expanding...

And put it in a small description of the type of person you're looking for, because I bet you that one of the people in your database, one of the people in your world, could be a current client, could be an associate.

It could be a referral source that knows just the perfect person they have in mind that would be a great fit for you and your business.

So that's the tip for this video and we'll see on the next one.

If you want to learn more about the lucrative nature of tax resolution, click on the link (https://www.rozstrategies.com/live-training/) for some free training resources that I'd like to provide to you—tax resolution as a way for you to generate profits and cash flow all year round.

And on this free training, I teach you where to find clients that have tax problems, how to attract them to you, how to take them through the initial consultation, what to charge for certain resolution alternatives, and how to collect that money all on this free training.

So if you want to learn more, if you want to gain more profits, more cash flow during the year and stop doing just cheap tax returns,

Click on the link (https://www.rozstrategies.com/live-training/) , and I'll see you on the other side.

On the Tax Resolution Practice Trends Podcast, Michael Rozbruch shares with you his secret systems and strategies that made him a pioneer in the tax resolution business and helped him generate over 100 MILLION DOLLARS in revenue in fourteen years! In this episode, let’s find out the big predictions for tax resolution marketing in 2021.

Are you ready for the tsunami of new tax resolution cases coming your way now until 2021? The economic devastation caused by COVID-19 led to a big prediction that twenty-five to thirty-three percent of your current clients are going to have an IRS problem. Wouldn't it be nice to have the right tools to resolve these cases and serve as an opportunity to get new cases?

Here are the key areas we covered in this episode:

• The most significant prediction in the tax resolution industry — something you probably never expected prior to COVID-19!

Loved this episode? Own the step-by-step blueprint for getting more pay-in-advance, high-value tax resolution clients than you ever thought possible! Check out the Tax Resolution Domination System & Toolkit that includes a complete business system that bolts-on to any sized tax, accounting, or law practice... and one where most of the work is already done for you! 5 Surefire Steps for Attracting & Retaining A Continuous Flow of Pay in Advance IRS Tax Problem Clients Every Month. SAVE YOUR SPOT NOW! https://www.rozstrategies.com/live-training/

Investing in Yourself

“Experts are always students first.” — Michael Rozbruch

Do you ever wonder how many people in this world actually invest in themselves in terms of personal development and technical training? Michael has a rule of thumb, where he usually spends between 10 to 15 percent of his gross for the year in education.

In this week's episode, Michael Rozbruch talks about investing in yourself.

Part One of ‘Invest in Yourself’

Remember, experts are always students first because being an entrepreneur or being a professional practice owner, owning a CPA firm, or a tax firm, it gets lonely, doesn't it? It gets lonely up in our heads when we have no one to bounce ideas off of.

“Get involved in a community of like-minded professionals.” — Michael Rozbruch

Michael discovered that when he joins groups, particularly mastermind or membership groups, he feels as if he's talking to other like-minded professionals who have a lot of the same issues, struggles and tribulations as he has. As a matter of fact, those people point out his blind spots. They point out things he doesn't even know are there that need to be fixed.

Part Two of ‘Invest in Yourself’

Today, innovation is at its peak. So, it's essential to get involved in a community of like-minded professionals who are tax resolution experts.

“Invest in yourself. Results will show up monetarily.” — Michael Rozbruch

When you take the time to invest in your personal development and technical training, rest assured that you will see the results show up in your bank account.

How to Get Involved

Michael Rozbruch, CPA and Certified Tax Resolution Specialist, a pioneer in the tax resolution industry, has a proven “in-the-trenches” track record as evidenced by accumulating 168 months over month consecutive revenue growth culminating in $23 million in revenue in just one year alone.

5 Surefire Steps for Attracting & Retaining A Continuous Flow of Pay in Advance IRS Tax Problem Clients Every Month. SAVE YOUR SPOT NOW! https://www.rozstrategies.com/live-training/