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Most People Want To Pay Less Taxes… But They Just Don’t Have Time!

What About My Tax Return?

If you’re like most people we talk to, you’re not excited about paying higher taxes, or overpaying on other financial expenses. This simple truth is, most people lost thousands of dollars every year in missed tax deductions, duplicate expenses, unnecessary insurance costs, loan interest, and hidden fees that they simply don’t have time to carefully review.

Listen to Joe’s story,

Joe got his W-2 and wow!” I made that much? Where did it all go? Look how much the IRS took for taxes! And what’s all that FICA/FUTA/Medicare Tax stuff?” Joe thinks. Then he picked up some papers from his mortgage company. “Look at all the interest we paid on our mortgage just in one year!” Joe is a conscientious hard working American and starts to wonder out loud. “What are we going to do about our tax return this year?” We have to do something to get some of this money back in our pockets!”

“We went to one of those Storefront chain operations last year”, he says to his wife Barb. “They took 20 minutes, gave us a handful of papers, billed us $875.00 dollars (because of The Affordable Care Act) and still had my Social Security Number wrong.” Barb says, “My brother Frank could do our taxes like before.” “Yeah, and have the whole family know my business again. I don’t think so.” Replies Joe.

“What about an accountant, they can certainly keep things quiet Joe,” says his wife. “They’d be OK I guess, but Bill at the office had his done last year by an accountant. He waited over two and a half months to get his return back from them. They billed him over $750.00, and I know we make more money than him even though our investments are just about the same. It

just doesn’t seem right, they did his taxes, didn’t really save him any money, and their only suggestion was to have more money withheld from his pay!”

Does any of this sound familiar? At this time of year millions of Americans are faced with a big problem. How do I file my taxes, keep more of my heard earned money and keep the IRS away?

If you are like most of us, these days of world crisis, economic slowdown, and general confusion have you downright worried. You know what. You should be! Last year has set records for government foul-ups and totally unpredictable markets. Scary times.

And the government tried to help by getting the United States credit rating down-graded! It’s the same old story. They play and we pay! The Congress in all its infinite wisdom has taken a bad situation (the Tax Code) & attempted to simplify it. As usual, they made it worse. It’s like a baby with a hammer. You just hope it doesn’t do too much damage before you can take it away.

The IRS (you’re guilty until you can prove otherwise) has stepped into the 21st century. Their vast network of new personal computers, mainframes and programs just means they can make more mistakes, faster and more consistently than ever before. They now match every W-2, 1099 and their totals against your return.
Does your tax preparer have the currently updated training, background and skills to deal with all this AND still save you thousands of dollars in taxes and other expenses?

Lets look at the alternatives?

The Storefront chains or “Tax Returns R Us.” You know the ones, with the TV commercials. They didn’t tell you that they just finished running ads for college kids to work for them The kids who are just finding out where to put their debits and credits, who have never even seen a tax form before.

Most people have had the experience…. You walk in, a college kid with a new calculator Mom got him for the holidays sits you down and in 20 minutes gives you a handful of forms & a bill for $375.00. You file your return and four months later the IRS sends you a letter. There’s a missing SSN and some math errors on your return. You call the office; the kid is back in college trying to get his eraser to work. Sally, the hairdresser was assigned your case and she will return your call as soon as she finishes the wash and perm on Joan. You know now, that whatever happens you’re going to owe the IRS money!

You think, there must be a better way to get these tax returns prepared. Is there some way I can pay less income tax and save more? The “do it yourself” approach would probably be the way to go if there weren’t some major hurdles in the way. First, after spending eight to ten hours a day handling your job or business, you come home tired. Raising a family takes more energy and work than “work itself”. Where are you going to find the time to start a third full time job of becoming a tax expert?

Aren’t they already taking too much of your money? Wouldn’t you like to be in some control of your taxes? What about spending all your free time (you know the 1-2 hours at the end of an already too long day) studying the ever-changing tax laws. In your heart, you know that that’s no answer at all.

Maybe skipping some more sleep? I think most people are losing enough of that already from worrying about their taxes, the economy and their jobs.

What about Uncle Harry or your brother in law? He does his own taxes. He’s offered to do yours. Just like last time. He takes your W-2 and your interest statements from the bank and in 10 minutes your returns are finished. In less than 24 hours everybody in your family and half the neighbors know all your business. You’ve had enough of that.

Remember how you hoped it would all go away? The IRS is still sending you notices for that year. The neighbors are still laughing when you walk by. And you are still paying too much in taxes to the IRS. Everyone says they can do your taxes, but is anyone actively trying to save you thousands of dollars in taxes and other financial expenses? You’re running out of alternatives!

The Tax Guy that did your return two years ago. Remember, you thought he moved out of the area. He took your papers, sent you one copy of the return to file, with that bill that reminded you of what Mom and Dad always said, “You get what you pay for”. Then he disappeared, never to be found to answer your questions. He never even returned your paperwork! He just called last week, he wants to “help you” again. Do you really think so?

The accounting firm down the street. Yes! They can help. Can’t they? It seems like a nice office. They should at least be accurate. CPA’s are supposed to be up to date on taxes and have specialized training. They should keep things quiet so you can at least look at your neighbors & family without the whispering.

But remember Bill at the office. He went there last year. He sat at their $2000.00 conference table. They took his W-2’s, Interest statements from the bank and they at least asked for his real estate tax bill and mortgage interest statements. Then he didn’t hear anything from them for over two and a half months when he called them!

They finished his returns, stapled them in a folder and billed him over $1200.00. Their only idea was to increase the amount of money withheld from his pay so he’s get a bigger refund. Bill called them during the year, to discuss his situation, and they billed him for the time on the phone!

You see, they make most of their money by providing high priced bookkeeping, payroll and accounting services for small businesses. They do the monthly books, payroll and estimated taxes for the garage, the dry cleaner and the neighborhood restaurant. Being an accountant or a CPA doesn’t guarantee that they can handle your taxes and find ways to save you money! It may not be their fault. They just don’t have the time either. They all take the papers, fill in the numbers and you pay and pay and pay. The taxes plus their fees! Have any of them really saved you money or have they just filled in the numbers on the forms?

We’ve developed a proven 3 step Personal & Small Business Tax Preparation and Planning Program. Our program is designed to save you money!

Step One: Assessment, where you’re at, where you want to go and what you want to do. By discussing with you your current situation and your attitudes towards money, business and taxes, we can determine, with the information you provide, what affects you and your taxes. We can show you ideas on where, when and how to save your tax dollars.

Step Two: The Return. After we understand you and your objectives, we will evaluate the information and documents you provided. We will assess if items are missing or incomplete. We will prepare your return then computer check for accuracy. (The same checks that the IRS uses to examine your return.) Then we will check your return against our computerized audit scanning software to identify areas that may cause you problems in the future. This step alone could save you thousands of dollars in taxes, penalties and interest.

Step Three: The Two-Year Comparison. This key step will show you where you are in relation to last year. Are you gaining or losing? The comparison checks: Income, deductions, exemptions, and both Federal and State taxes. This, along with our personal assessment of your Comparison will start your Tax planning and saving for next year. We will also help you implement the personal actions that will achieve the results that you want. We will help guide you through, monitor your progress giving you the tools to see your taxes under control.

IN ADDITION, AT NO COST TO YOU, you will receive FREE the “1 Hour Tax Reduction Summary” report. In this one concise report, you’ll learn ways to save thousands of dollars in taxes and other financial expenses that most people frequently overpay.

Call me at 610-945-1954. Or email me at dmwttrn@gmail.com Is this fair enough? Looking forward to your call.

Sincerely,

David Warrick, CFP, EA
1109 West Main Street
Norristown, Pa. 19401
610-945-1954 Office
610-270-3045 Fax

P.S. All I’m asking is that you talk with me to see the kind of results that I can produce for you.

PSS You know, if you really think about it, the only way you can truly lose is if you fail to respond to my free offer. And if you fail to respond, you’ll never know. Please take the first step to start feeling better now. Just pick up the phone and call. Just do it Now! I promise, I guarantee you’ll be happy you did.

Let me ask you a question: Except for the death of a loved one, can you think of a time in our lives that brings more confusion, more anxiety, and more worry than when we’re changing jobs?

All the questions that come into our minds. Questions about our ability to take care of our families. Questions about paying bills.
Questions about health coverage and other benefits. Questions about cash flow. And, the deepest questions about our emotions.

The questions about how we feel about ourselves, and our future, and what effect all this will have on the most important people of all; our family. These feelings are very disturbing. Not knowing how your emotional and financial state will be in the future, adds even more stress.

For example, see if this story sounds familiar:

Ray slowly approached the kitchen table. He didn’t even remember pulling out the familiar chair while he sat down, as he had done a million times before. He felt very melancholy as he opened up the paper to the classified ads, and flipped through to the want ads. It had been so long since he had even looked at those ads, he had to check the index to find where they were located. He sighed as he put on his new bifocals (which he hated having to use, because they reminded him of all the changes in his life) and scanned the different headings of job classifications.

GOD, he didn’t realize all the qualifications people wanted for jobs he thought should be able to get with no problem. (Now he saw it was really going to be a problem.)

He took his glasses off and kind of gazed out the patio doors. He saw the “Hot-Wheels” his granddaughter, Jessie, had left laying on its side, on the grass. Her pink and blue ribbons hanging out of the handles, blew in the breeze, and sent his memory back to when his daughter, Linda, was the same age. He thought about how excited he was to come home and tell his wife, Peggy, that he just landed the job with a major drug research and manufacturing firm in Pennsylvania! All those years of school finally paid off. He remembered fondly that Linda came in from the patio, just as he walked in the door to tell Peggy the good news. She had no idea why her daddy was so happy because she was so young, but she could just tell something great was happening, and gave Ray a big hug.

Now, 24 years later, the joy of that moment in the exact same spot long ago, seemed like ancient history right now. Ray put his glasses back down, and started looking at the paper again, as Peggy came in with a cup of tea. She sat down next to Ray, and forced a smile. “Hi, honey. Anything look interesting?”, she asked, in an upbeat voice. “Well, I don’t know. I’ve only looked here for a couple of minutes, but these companies want all these advanced degrees and everything. Hell, I know more than 20 of these MBA types put together, but I don’t have the piece of paper to prove it. And, at my age now, I’ve got the added problem of them not wanting us “old guys” of 51 years…” Ray stopped in mid sentence. His mind started to drift off again, into another series of worries. He began with worrying about what he would do with himself. Would he be able to get a job with any future at all?

Would he have to work in a hardware store selling nails? Would he even get any job? Then, he started to get angry. “How could they do this to me? I gave them the best years of my life, and this is the thanks they give me! I’m so mad, I could…”

Peggy interrupted him. “Ray, I know how bad you feel. We all do. It’s not your fault, honey. There is nothing you could do about it. They just decided to eliminate all those positions, and we got caught in the squeeze.” “It’s just not fair! They kept all those people who are not productive, but all of us who brought in revenue got dumped. It’s so, so, …”

He stopped again. He realized that getting angry was worthless, and a waste of time. (Although it didn’t seem to stop him from getting mad, quite often, over the last few weeks.) Ray and Peggy stared at each other without saying anything for a few seconds, that seemed to be an eternity. They really didn’t know what to say to each other any more. There’s only so much you can say. What do two people who have raised a family together, and been through so much together say when things look this bad? They really didn’t know themselves. Finally, Ray broke the silence.

“I just don’t want you to worry, babe. We’ll get through this one. Everything will be OK.” He patted her shoulder as she set her cup of tea down. As usual, she leaned over and gave him a kiss on the cheek.

“I know,” she replied. “At least I’m working, and Jerry only has two years left at school. It could be worse, I guess.” (She tried to sound optimistic.) “Yeah, things could be worse.”, Ray answered. “Oh, by the way, what was that article you saw in the newsletter from the accountant that you mentioned yesterday. I forgot to ask you when we got interrupted for some reason.”

Peggy answered, “I’m not sure. It was something about not doing the wrong thing with a distribution from a previous job. Something about some kind of penalty or something.” Ray pulled down his new bifocals to the tip of his nose and peered over them at Peggy. His face got sort of whitish, and he was afraid to, but he had to ask to see the article. She got up and grabbed it out of a pile of mail, some opened and some unopened. Peggy gave it to Ray and walked over to the stove to freshen up her tea. Ray found the article buried on the last page of the newsletter.

It mentioned the fact that if someone receives a distribution from a company plan because of a
job change or retirement, that the money must be rolled over directly into a new plan. The old type of 60 day rollover, where you could receive the money, hold it for 60 days, and then roll it into an IRA or other qualified plan, was now illegal. Ray kept reading about how, if you did this, the company had to withhold 20% of the distribution. And, to make matters worse, if the employee wasn’t able to replace the withheld money out of other funds within the 60 days, the withheld amount would become taxable income and be subject to penalties!

His face went numb. He had just talked to the benefits office last month. He thought he remembered them asking him if he were going to be able to roll the money over, or some such talk, but he was so shell shocked at the time, he just didn’t remember. He ran to the phone to call Jack, his old friend in the benefits department. He wanted to check on what he had done. He was praying he had set it up right. As he hung up the phone, he realized he was going to need more than prayers.

“How will I tell Peg?”, he thought to himself. “We are going to have to come up with over $42,000 in the next couple of months. Where are we going to get that kind of money?!” This story is one that we’ve been warning people about. We’ve been telling people that the IRS has just added another weapon in their arsenal of disgusting tax increases.

Believe me when I tell you this couple is no different than millions of other families. Families who are facing the most difficult times in their lives. Families who are facing the reality that the world they have known is never going to be the same. Families who wanted nothing more than to work hard, give their kids the best shot at getting a start on life, and to retire in relative comfort.

Not greedy people. Or “takers.” No, just ordinary Americans, living the legacy handed down to
us by our parents, and their parents. The inheritance we all received from earlier generations. A
birthright that gave us all the chance to live a life that no other country in the history of the world could ever achieve.

A life with freedom of opportunity, freedom of choice, and freedom from being a victim of the government. So what’s happened? How did we get to the point where countless numbers of us face the reality of not being able to…

Have A Decent Job, Or Retire In The Same Lifestyle We Had During Our Working Years!

Why is this the case? What happened to America, and her ability to provide financial
security for her citizens? Well, in my opinion, the answers are very complex, yet simple
at the same time. It all boils down to one basic element:

Lack Of Any Concern About Planning For Tomorrow!

Unfortunately, most of our elected leaders, and managers of our businesses, have been playing a very dangerous game. For many, many years now, they have been focusing on maintaining the status quo. On keeping their eyes on what’s easiest to do for today. Always looking ahead by one or two days. Finding the path of least resistance to keeping their jobs. Which means, concentrating on controlling things with little or no eye on how their decisions will effect us in a month. Or in a year. Or in ten years. And now, all those short term decisions are coming back to haunt us. We are all paying the very heavy price for our “leaders” short vision. We are all living their legacy of overspending, overestimating and overindulging. We are seeing the once very stable job market collapse before our very eyes. (The US Bureau Of Labor Statistics says that this “recession” will cause only 15% of laid off workers to get their jobs back, compared to 44% in previous recessions!)

Is this a recession, or a complete change of our economy? I don’t know for sure. You don’t know for sure. But, there is one thing I do know for sure…

Those Of Us Who Are Being Laid-Off Or Retiring, (Or Deciding If They Can Retire) Had Better Do Some Heavy Duty Planning For Themselves!
Since the people in power have done little planning for the future, we are in the mess we’re in today.

So, you cannot afford to repeat the same mistakes. You cannot afford to worry only about today, with no eye for the future! And, let’s look at all the decisions you are facing that will require some very careful planning. Decisions, which if handled incorrectly, could put you in big financial trouble:

Deciding how to receive your lump sum distribution. How should you take it? (Especially being aware of the 20% withholding disaster penalty!) Determining if your retirement plan money will be subject to other penalties, such as the excess accumulations penalty. (Did you know you could pay another penalty if you have too much in your plan, or take too much out of the plan?)

How to plan your spouse’s company benefits with this new situation. (Should they still contribute to the 401(k) plan? Should they change their various insurance coverage’s? What about your spouses job? Is it safe?) Deciding how the distribution should be invested. (How much in cash, how much in other vehicles? Who should be the trustee or custodian? What’s the right way to manage the account?) How to avoid the biggest mistakes people make when handling a relatively large sum of money. (Not diversifying properly. Not using investments that provide the opportunity to beat inflation. And so on!)

Not knowing how much, if any of the distribution should be kept for current needs. Deciding which choices and options to utilize for health insurance and other company benefit issues. Figuring out if taking a different job might be smart or dumb, when it comes to benefits, cash flow, taxes, and so on. Understanding the income tax costs of any decisions made. This is so critical, yet most people depend on an accountant, or someone from the company to help them make tax choices. You have to understand that these well intentioned folks, just may not know all the ins and outs for you!

How to tell if your cash flow will be enough, both now, and for the future! Deciding how to keep things like college funding going along. (Should you keep paying for it out of pocket? Should you use some money from your distribution? Should you borrow or get other loans?) How to address the issues of your debts. (Should you refinance your house? Should you pay it off? What about your other debts? What happens to them?) How you should deal with everyday costs, like getting a new car. (Did you lose your company vehicle? Or is that old clunker on its last legs? What about your daughter’s need for a car at school?) How to arrange your assets. (Who should own them? Should they be in joint ownership? What if things don’t improve financially? What will happen if we own everything together?) How to allocate your assets so you don’t get caught in the look-back window and commit a federal crime if you or your loved one needs to apply for Medicaid. The very real situation of having to take care of your parents. (How will their getting up in years affect you, financially?)

How to deal with your kids, and, maybe, their kids! (What if they want to, GOD forbid, move back with you?) How to decide if maybe, getting into business for yourself is the right way to go. (With all the tax and financial decisions that go with that move! How much to invest. How to arrange for
benefits. How to plan for the cash flow needs, both personal and for the business? And on and on!)

How your estate should be arranged should something happen to either one of you. (Simple wills are better than nothing. Which is what a lot of us have, but may be very inadequate with all the complexities of family life!) Is that enough stuff to think about? Has some of that kept you up watching cable TV, late at night? And then, as if that weren’t enough, what about all the emotions you feel, while trying to make all these choices? (Making all these huge financial decisions while being emotionally drained is not the best way to go!)

The feelings of: Anger. (Towards your company, or the government, or whomever.) Guilt. (Maybe I somehow caused this. Have I caused some real pain for my spouse and kids? Will they be OK? Should I have been able to see this coming, or, somehow prevent this?) Fear. (What’s going to happen to us? Will we make it? Will I have enough money?) Betrayal. (How could they do this to me?)

Anxiety. (What will I do with myself?) Doubt. (Am I going to get through this?) Lack of control. (What can I do to get things back under control? I feel lost sometimes.) That’s a lot of emotional baggage to drag around, yet it’s perfectly normal. Who wouldn’t feel this way? Let me tell you that mostly everyone going through this changing life has all these emotions, and more! So what next? Is there some solution to all this? In my opinion, there is.

Learn How To Create And Follow A Money & Tax Planning Map!

Or, in other words, you need to find out how to plan for your future like you plan a trip to drive out west to see the kids. Or, Establish realistic goals. Be specific about what you really want. (Just like the destination of your trip. A place where you want to end up!) Take a true look at where you are today. (Just like looking at the map, and seeing where you are starting from. Home base, if you will!)

See which “financial roads” will get you to your destination. (Some roads may be quicker, but not as peaceful. Others may get you there, but take way too much time and hassle!) Start on the journey, with a small, but easily manageable “vehicle,” and see how the trip is going, one day at a time. (By going nice and easy, you can pull over at rest stops, and check your progress, and see what is going on without any panic. As opposed to reading the map while driving 65 miles per hour, and feeling very scared!) You see, this designing a map for your money is one of the least used, and misunderstood areas of personal finance! Most of us make decisions based on intuition, impulse, fear, listening to well meaning, but misinformed friends, etc.

It’s like you’re deciding to go on vacation, and just get in the car without a map, start driving because the neighbor’s dog is chasing you, and make turns anywhere and everywhere! Is that any way to have a fun vacation? Will you ever end up where you want to go? Will you have any relaxation or peace just driving all over the place? Will you ever get any control of your vacation like this? I don’t think so. And, just the same, I don’t think most of us ever get a “money map” in our lives.

We all run around, driving here and there, getting nowhere. Designing this financial plan for yourself is the secret that may change your life forever. I know, because for the last 19 years, I have helped hundreds of families design and follow their “money maps” to a more restful life. A life that is under financial control.

And, I also know that without this map, people may never arrive at their destination. At least not in one piece. (Or, in “peace” for that fact either!) So, does all this make sense? Do you see how critical it is to know your choices before you get in the “car”? Another way to look at this, is that a doctor cannot help a patient until he or she does a diagnosis to see what is wrong. And then prescribe treatments based on that diagnosis.
So the patient can have a “map” or a plan on how to get well.

And, just like that doctor, the first step towards getting well financially, we need to perform a diagnosis to see what “ails you!” Now here’s what I’d like to offer you:

A FREE INTERVIEW TO FIND OUT EXACTLY WHAT YOU ARE FEELING ABOUT YOUR MONEY. A”DIAGNOSIS”, IF YOU WILL.

Yes, we will do something your doctor wouldn’t do. Provide an initial interview and consultation with no charge! And no, it will not be a disguised sales presentation. Or a “pitch”. Or anything, except a brief (half hour or so) time to review what is going on in your financial life that concerns you. And that’s it. If, at the end of the interview, you do not feel like we can help you, or that you don’t like me, or that you want to keep doing what you’re doing, etc., that’s fine. And that’s it. You go home, and we leave it at that.

Believe me, I could not be working with so many people if I was doing anything to make them uncomfortable! I can’t think of a better way to work. Can you? So why don’t you think this over for a couple of days, and see if this makes sense to you? If you have any major skepticism left, or maybe have a question or two, feel free to give me a call. You will find that when we talk, there will be zero push or pressure. If you are really not interested or ready, that’s great. If you want to talk, that’s OK too. You have to understand that I love getting new clients, and as a matter of fact, I am hired by several people each month as their advisor.

But, because I have a steady volume, I never accept clients that aren’t really excited and interested in rebuilding their future. I am going to be honest with you. I have so much fun seeing people’s lives change for the better, that I would never work with anyone who wasn’t excited and looking forward to finally getting the:

Control Of Their Lives Back Through Tax Planning!

Life is too short to “fight” people who don’t really want to PLAN FOR THE FUTURE. I hope this discussion of building a map for your life’s road makes sense. I also hope you are thinking a lot about your own life, and whether or not you feel in control of it. Or whether it is controlling you!
Even if we never talk, I want you begin to take a new view of your life. One that allows your natural joy and love be the dominant forces. So you and your family can have the best life possible. And that I have shown you how to get rid of those bad feelings. As I said before, there is too much good in life, to let worry and frustration get in the way.

I am always positive that planning may be the best weapon to stop the negative sides, and bring out the wonderful gifts we all have been given! Anyway, I’m done for now. I look forward to talking to you soon, and seeing where we go from here! Take care, and I wish you all the good luck in the world!

Sincerely,

David M. Warrick, CFP EA
The Tax Reduction Network.Com
“Admitted To Practice Before The IRS”
610-945-1954

P.S. You can end the frustration you feel by taking action. Just like you tell your kids, “I can’t help you, if you won’t help yourself!” And, with all the changes going on in your life, can’t think of a better time to plan for your future!

My name is David Warrick, I am a CFP and an Enrolled Agent, (admitted to practice before the IRS)
I have over 30 years experience in tax planning, tax reduction, accounting, bookkeeping and tax preparation for business owners and individuals.

My firm The Tax Reduction Network was founded to provide cutting tax reduction and financial advice to help business owners and individuals keep more of what they earn. I also teach tax planning and tax reduction to CPA’s at a major university. You can view my website at ww.thetaxreductionnetwork.com