Feb. 17, 2025

Bookkeeping & Tax Hiring the Right Help

Bookkeeping & Tax Hiring the Right Help

When hiring a professional when it’s time to file their tax return, choose that tax preparer carefully. Even if someone else prepares your return, you are legally responsible for what is on it. Preparer Quailifacation, Licenses (Enrolled Agent, CPA,...

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Season 2

When hiring a professional when it’s time to file their tax return, choose that tax preparer carefully. Even if someone else prepares your return, you are legally responsible for what is on it. Preparer Quailifacation, Licenses (Enrolled Agent, CPA, Attorney), Service fees. The right bookkeeping service is a critical decision for small business. Business Needs, Experience, Industry Knowledge, Trucker Bookkeeping TruckerTaxTools.com Trucker Taxes. Tax Relief Taxationsolutions.net IRS Debt.

Tax Talk 4 U is broadcast live Mondays at 10AM ET and Music on W4CY Radio (www.w4cy.com) part of Talk 4 Radio (www.talk4radio.com) on the Talk 4 Media Network (www.talk4media.com). Tax Talk 4 U is viewed on Talk 4 TV (www.talk4tv.com).

Tax Talk 4 U Podcast is also available on Talk 4 Media (www.talk4media.com), Talk 4 Podcasting (www.talk4podcasting.com), iHeartRadio, Amazon Music, Pandora, Spotify, Audible, and over 100 other podcast outlets.

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WEBVTT

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The topics and opinions express in the following show are

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solely those of the hosts and their guests and not

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those of W FOURCY Radio. It's employees are affiliates. We

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make no recommendations or endorsements for radio show programs, services,

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or products mentioned on air or on our web. No

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liability explicitor implies shall be extended to W FOURCY Radio

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or its employees are affiliates. Any questions or comments should

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be directed to those show hosts. Thank you for choosing

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W FOURCY Radio.

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Barry G.

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Fol Ea brings you tax talk for you right here

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on W four CY Radio and talk for TV. As

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an enrolled agent and a national leader in tax resolution

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as well as Trucker bookkeeping.

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And tax planning.

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With over thirty years of experience, Barry will break down taxes, bookkeeping,

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tax planning, and tax relief for individuals and businesses just

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like you. So let's have some tax talk for you

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with your hosts.

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Barry G.

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Foul Hey, good morning the USA. It's great to be here.

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I enjoy these these shows and talking and bringing information

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to people, our clients, maybe future clients, and people that

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are looking for help, whether it's for the tax problems, bookkeeping, taxes,

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you name it, and you know today's topic. Finding the

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right help, finding the right tax prepared finding the right

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bookkeeping service for your business, for your industry. You know,

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and it gets complicated and it's really hard. How do

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you know that the people that I'm going to hire

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today to do my taxes is the right company, right person?

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You know, we fret when we get out there and

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we hire somebody where there's an investment advisor sometimes, you know,

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like even us going out and getting new furniture this

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weekend for the living room, was hey, are we getting

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the best price? Are we getting the right deal? Are

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we getting the right furniture? But that has less complications

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than hiring the wrong tax prepairer. I mean, can you imagine, Okay, fine,

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the furniture breaks, it's under warranty. But if you didn't

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hire the right tax prepairer and all of a sudden

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now they created you tax problems, well, it doesn't always

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necessarily go back to them and be their problem, because

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you may not be able to find them because you

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hired the wrong person, or they weren't with the right

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credentials and you hired the wrong person. At least if

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you bought the wrong furniture and maybe it's under warranty

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and you can get it fixed. You know, maybe it

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fails and you can't get it fixed. You know, you're

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only out what you're paid for it. But when you

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have a tax problem because of your prepare, you could

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be out thousands, if not tens of thousands, if not

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hundreds of thousands, you know, depending on what the preparer did.

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So you know, take the time vet the preparers, check

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the preparers qualifications. You know, all paid tax return preparers

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are required to have a Prepare Tax Identification Number and in

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addition making sure they have a PTI in asked to

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prepare if they belong to professional organizations and do they

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do continuing education, you know, the IRS, you know talks

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a lot about the different qualifications and the different people

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that are qualified to prepare tax returns. And it starts,

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you know, with enrolled agents. Enrolled agents were licensed by

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the US Department of Treasury. Enrolled agents are subject to

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suitability check and must pass a three part special Enrollment Exam,

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which is comprehensive exam that requires an enrolled agent to

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demonstrate proficiency in federal tax planning, both for individuals, businesses,

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tax return preparation representation, and then they have to do

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continuing education seventy two hours over the three years. It's

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a it's a great program. So if you're looking for

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a prepare, enrolled agent is a great place to start

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because they specialize in tax and so you'll see, like

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me barring G. Fowl or e A, I see enrolled

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agent designation out there.

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You know.

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Next option is certified Public Accountants. You know, these aren't

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actually licensed by state boards of accountancy and it's in

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each of the state's district of Columbia US territories. They've

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passed the uniform CPA exam. Now this isn't just tax

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I mean, it's our audit tax loss stuff. They've had

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to complete study and accounting at a college or university

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here in Texas. They've got to actually go and get

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their master's degree, and then.

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They have to have.

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Certain experience requirements that is established by their respective board

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in their state. They also must comply with ethical requirements

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and complete specified levels of continuing education in order to

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maintain their CPA license. But they're offering a full range

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of services and it's not all of them specialize in

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tax prepper or tax planning as opposed to enrolled agents attorneys.

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They are licensed by state courts, including the District of

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Columbia and then maintained by their state bars. Generally, they

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have earned degree in law past the bar exam attorney.

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Attorneys generally will also have ongoing continue education and professional

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character standards, ethical standards, and again, attorneys are going to

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offer a wide range of services. Some do specialize in

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tax so you can go through them as well. Then

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you have people that have just a preparer's license. They're

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actually Annual Filing Season Program participants, meaning that it's a

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voluntary program that recognizes the efforts of return preparers who

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are generally not attorneys, CPAs or enrolled agents, that was

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just designated to encourage education in filing season readiness. I

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r s will issue annual Filing Filing Season Program record

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of completion to return preparers who obtain a certain number

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of continued education hours in preparation for the specific tax year.

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So you know, those are the people that are going

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to be filing returns and filing returns Legally, all return preparers,

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no matter what level they're in, have to have a

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PTI in tax return preparers. You get that prepare tax

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identification number. You don't have to have professional credentials to

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get this. You don't have to participate in the annual

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filing season program. Uh, so you can get that number

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and prepare returns. We do have people that are here

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that are PTI in holders. Most of them just do

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data entry, don't complete the returns and don't review the returns.

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Are people here going to be enrolled agents or even

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tax attorneys out there? So whyant you text in and

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asked what's the difference between an accountant and an EA

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thing you spoke of? Well, again a world agents are

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people that are specialized in tax, whether it's representation, tax planning,

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tax preparation. Enrolled agents are one hundred percent geared towards

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dealing with taxes. An accountant, most of them are going

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to if they haven't become a CPA, we'll do bookkeeping,

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We'll do some financial statements. Again, they're if they're doing

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a certified report, then they're going to be CPAs. But

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accountant generally just does bookkeeping, may work for a company,

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do receivables, payables, things like that. Some accountants jump out

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and get into preparing returns with an annual filing season

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program participant, or could just have their PTI in and

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work for somebody out there. So there's a lot of differences.

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And so when we talk about specializing in tax enrolled

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agents are going to be the people that you're going

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to want to look for that specialize in doing taxes.

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So another thing you want to do when you're looking

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for a prepare out there, check their preparer's history. You

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can check with the Better Business Bureau see if the

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prepare has a questionable history. Also check for any disciplinary actions,

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for the status of their license where they're enrolled agents,

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CPA attorney. For CPA's you can go to the State

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Board of Accountancy and check their status there. For attorneys,

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you can go check at the state Bar. For an

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enrolled agents, you can actually check with the IRS Office

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of Enrollment. EAS again have to maintain this license maintained,

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continue education. The same with as CPAs they're going to

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want to make sure they maintain their education and everything. Ronald,

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the question you have is how long is this wing

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for enrolled agents versus accounting. Well, accounting is going to

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be a degree that you're going to get in a university,

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so it could be four years. It could be five

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or six years if you go through to get your

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masters and get your CPA license an enrolled agent. Because

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we're very specialized in taxes, there is not any length

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of schooling that's involved, but most enrolled agents have a

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lot of work experience in the tax field. I can

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tell you many years ago when I got my Enrolled

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Agents license and I was a CPA also at the time,

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you know, I went and sat for this exam and

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there were many many people that have been in there

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taking this exam over and over and over again in

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order to pass it. It is not an easy exam

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to pass to become an enrolled agent. We'll go through

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a few more qualifications and what it takes to become

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an enrolled agent as soon as we come back from

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this break.

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We have only scratched the surface of today's show. Please

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stand by as Barry G. Fowler will be right back

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with tax talk for you. If you owe the IRS

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or are going through an IRS audit, don't go at

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it alone. Called Taxation Solutions tax Relief at eight eight

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eight nine three zero one zero one six, we are

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your solution for IRS debts, audits, back taxes garnishments.

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Leaned and levees.

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Whether you're an individual or business, you need a solution

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and a strong, aggressive tax resolution.

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Don't let the irs walk all over you.

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Stop the irs now call eight eight eight nine three

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zero one zero one six or go to Taxation Solutions

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dot net now for a free no obligation consultation. Let's

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get back to tax stock for you with more tax

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stock once again.

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Here's your host, Barry G. Fallon.

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Hey, welcome back. We were talking about enrolled agents and

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becoming an enrolled agent. And I like talking about becoming

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an enrolled agent because you know, when I looked at

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this many years ago and not only holding a CPA

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license but deciding to also be licensed enrolled agent, you

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know had to take a look at what it took

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to become an enrolled agent, and the first thing was

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having the experience in preparing taxes, but then going in

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and passing a three parts special enrollment examination. Back then

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it was on paper. Now it's on a computer system

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by Promedic, So you would have to pass that those

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three parts of the exam, and it is a very

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grilling exam because not only do you have to know

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pretty much everything about taxes. But you know, they go

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back and test on the previous year or two back,

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so you got to know a lot of the rules

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that applied for the previous couple of years when you're

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going in and taking that, including things like farm taxes,

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truckers taxes. You know, all these things are included. You know.

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The fun part is is like you know, if you

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if you are running a farm and you do you

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appreciate cows or things like that that people don't think

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about that you might need to know if they test that,

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and you don't know what they're going to actually test

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on any simple, any single exam. So once you've achieved

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those passing scores, then you've got to apply for enrollment

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through Forum twenty three, and then you get to go

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get fingerprinted and go through a full FBI background check,

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and they're going to review your tax transcripts. If you've

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fail to file timely or pay taxes, it can be

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grounds for denial of enrollment. And the other side would

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be you have you had past service and technical experience

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working for the IRS. Again, you would have to have

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knowledge of Circular two thirty, apply for enrollment and go

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through a background check. Those are the fun things that

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you get to do when you're applying to become an

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enrolled agent PAMs. Can a person go to a bookkeeping

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school instead of a college. Absolutely, If you're not looking

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to become a CPA a Certified Public accountant, you can

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actually go to some of the bookkeeping schools instead of

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going to a college and you can learn bookkeeping. Now,

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you're not going to be able to give a certified

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financial reports or anything, but you can do basic bookkeeping

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for clients out there or work for somebody else doing bookkeeping.

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You know, that is all a possibility for you to

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go through and do for jumping out and doing bookkeeping.

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Dustin asked, doesn't enrolled agent have to be an accountant

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or is a different course of study? Again? Enrolled agent,

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Basically you don't have to go to college and study anything.

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What you need to know is everything inside and out

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about taxes, planning, tax representation, the ethical requirements of being

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an enrold agent. That's what you're going to get tested on.

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And a lot of times it's years of experience and

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working in the tax field that you go through and do.

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And yes, Alex, thanks for this question. Did I say

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FBI check? Absolutely? They want to make sure that you

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don't have a criminal background. Remember this is US Department

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of Treasury that is issuing this license to people like

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myself that are enrolled agents. So they want to know

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that a, you haven't committed any crimes, especially felonies. I'm

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sure mister meanors and stuff like that doesn't really matter,

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but you know, they want to make sure that you've

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got a good background because you are working with clients

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and preparing tax returns for clients, you know, So those

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are the kind of things that happen when you're becoming

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an enrolled agent. We also tell you, hey, ask people

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about their fees. What their fee structure is. Are they

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charging perform is at a flat rate? Is it based

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on a percentage of your refund? Avoid them if it's

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based on a percentage of your refund. Also avoid those

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that claim they can obtain a larger refund than any

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other preparer can. If somebody is preparing tax returns correctly,

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the refund or the amount of tax that is out

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there is going to be the same. It should be.

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If you know the insides and outs of the tax law,

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you should be able to help your clients find a

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way to save money if at all possible. Remember, if

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you're working on twenty twenty four tax turn in you's

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twenty twenty five. If you haven't done tax planning in

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twenty four, there is very little you're going to do

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the lower taxes in twenty twenty five. For twenty twenty four. Yes,

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you can make a contribution to an IRA. Yes, you

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can contribute to a health savings account. If you have

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a high deductible plan that qualifies for it. But you

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become very limited in the actions you can take in

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twenty five to lower twenty four taxes. The other thing,

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when you're talking about service fees and everything else, tax

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taxpayers don't let your prepared put the money into their account.

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You should have it deposited in your account.

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Now.

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Granted, there's programs out there that the return prepared could

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actually do a rapid refund to you. You and have

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your fees for the tax preparation pulled out. A lot

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of times, that's a little bit more costly. Pay for

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it up front. That way you know what you're paying

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for and what you're getting out there. Ask your return

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prepare if they e filed. Now, you got to know

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that if a person prepares more than ten returns a year,

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they must e file returns, So if they're preparing returns

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for clients, then they should be electronically filing your return

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as well, So ask them that. If they do that

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and they qualify, make sure you're prepared, is accessible or

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their staff. Can you call the office and get a

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hold of somebody. Are you able to contact them after

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your return is filed? Even after April fifteenth due date?

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You know, there's a lot offices that only stay open

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and may be open periodically. We've seen some of the

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storefront type places that are open from January to April

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fifteenth full time, and then after April fifteenth they're only

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open maybe once a week where somebody comes in and

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checks messages and then deals with it from there. Best

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00:21:17.160 --> 00:21:20.400
services out there kind of like us. We're open year round,

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you know, five days a week, so you can still

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pick up the phone and reach us and ask questions

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or whatever you may need. Reputable return preparers or we're

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going to request to see records or receipts, So don't

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get offended. I mean, we as enrolled agents, as preparers

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of your tax return are subject to due diligence. So

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we've got to prepare. When we prepare a return, if

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it doesn't look right, doesn't smell right, you know, doesn't

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walk like a duck, doesn't quack like a duck. Hey,

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we're going to ask questions and don't take a defense

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to that. It's to protect you, but it's also to

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protect us. You know, we want to make sure we're

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getting the right deductions, all the deductions in some cases.

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And you know, if we don't get to W two

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and you just want to prepare off your last paycheck.

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So if they say yes, it's the wrong place, get

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the right prepared, doing the right things. Hey, if you're

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a tax prepare ask you to sign a blank return,

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don't do it. We tell you to review your return

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in the entirety before signing. I know that's incredibly hard

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because you rely on us to do it, but just

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relying on somebody blindly doesn't make it right. You should

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understand it because you're signing this return under and as

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a perjury that this is correct and true. So make

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sure your numbers are correct, make sure it looks right,

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make sure it smells right, make sure it pass that test.

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Simple and easy. Is your return prepared? Signing your return

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00:23:20.640 --> 00:23:23.119
they've got to sign them to you file and make

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sure they have their PTI N number on there. And

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then if you feel it's wrong, you can report your

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tax prepair. You can report if you have suspected fraud.

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And one thing we've seen a lot of times is

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you give a return prepared carte blanche and now you're

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in trouble. Guess what carte blanche means and guess what

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kind of trouble you can get in. Hey, we're going

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to address that right when we come back.

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We have only scratched surface of today's show. Please stand

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by as Barry gif Fowler will be right back with tax.

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Talk for you.

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As an owner operator, you already spend too much time

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00:24:13.279 --> 00:24:17.119
away from your family. Trucker Tax Tools handles all your

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00:24:17.119 --> 00:24:18.400
bookkeeping and taxes.

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No matter what level trucker you are. Life on the

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00:24:21.160 --> 00:24:21.680
road can.

335
00:24:21.599 --> 00:24:25.200
Be taxing, but that doesn't mean that your wallet or

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00:24:25.319 --> 00:24:29.200
time with your family should suffer. Trucker Tax Tools makes

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00:24:29.240 --> 00:24:33.000
your life run smoothly. Go to Trucker tax tools dot

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00:24:33.039 --> 00:24:35.519
com for a free guide that will give you the

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00:24:35.680 --> 00:24:40.160
tools to never worry about your taxes again. Call Trucker

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00:24:40.240 --> 00:24:44.359
Tax Tools eight seven seven nine sixty six, two, four,

341
00:24:44.720 --> 00:24:48.440
seven seven, or go to Trucker tax tools dot Com

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00:24:48.480 --> 00:24:54.960
now and let the experts keep you trucking. Let's get

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00:24:55.000 --> 00:24:58.000
back to tax stock for you with war tax stock

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once again.

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Here's your host, Barry G. Fallum.

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I saw something interesting this weekend, and it's something that

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you know I've talked about before. You know, how do

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you fix this government? And you know, hey Trump and

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Elon Musk and those and all that are are jumping

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out there finding ways and finding wasteful spending. I mean

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there should be. There's tons of wasteful spending out there,

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and getting rid of wasteful spending is one great way

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of starting down that thing. But I saw something interesting,

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and I know this was probably bank many years ago,

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Warrenant Buffett gave his solution to the deficit, and in

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saying he said, I could end the deficit in five minutes.

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You just pass a law that says anytime there is

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a deficit of more than three percent of GDP gross

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dimssion domestic production, all sitting members are Congress are ineligible

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for reelection. I didn't imagine that the twenty sixth Amendment,

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you know, it only took three months. In eight days,

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to be ratified in the for eighteen year olds to

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be able to vote. And that was way back in

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nineteen seventy one, before computers, email, cell phones and all

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this other stuff. So there's ways we could get people

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to move in the direction of pushing our congressmen, our

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senators to do some congressional reform. Now this should include Congression.

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If they did the Congressional Reform Act, they would have

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a congressman have no tenure, no pensions. A congressman would

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collect salary and receive no pay when they're out of office.

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Congress past president future would participate in Social Security. I've

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always said, hey, if you put Congress on social Security,

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they would fix social Security immediately, and all the congressional

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funds and retirement funds would go into Social Security. They

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shouldn't get anything more than what we do. And then

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Congress could purchase their own retirement plans just like every

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other American does. We can offer a four to oh

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one K maybe with a small three percent match or

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two percent match. Congress can no longer vote themselves pay raises,

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and they'd get to their pay would rise by the

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lower of CPI or three percent. Congress loses all their

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current healthcare. Hey, if Obamacare is good for me and

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good for you, it's good for them. What's good for

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the goose is good for the gander. Let's do it.

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Congress must equally abide by all laws they impose on

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the American people. Imagine that. I thought that was already

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part of this. There is no kings and queens and

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prince and princesses in the United States, but it sure

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seems to be with our congressmen. All contracts with past

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and present congresmen are void. The American people didn't make

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the Congress any kind of pack with the congressmen. Congressmen

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made all these contracts for themselves. Serving in Congress should

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be an honor, not a career. Our funding fathers never

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envisioned citizen legislatures, so or just envisioned citizen legislatures, not

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kings and queens. So they should serve their terms and

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go back home and go back to work. That's the

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simple way to solve or our problems here in the US.

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Take our government back of what the constitution says and

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not do anything more than what the US Constitution says,

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and put the rights back into the states. Hey, that's

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my soapbox that was warren't Buffett's soapbox with me ed

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00:28:58.400 --> 00:29:00.680
living in a few things that I think as it

403
00:29:00.720 --> 00:29:05.279
should be as well. Hey, we were talking about signing

404
00:29:05.359 --> 00:29:11.160
a return or giving your tax repayer cart blunch. Given

405
00:29:11.440 --> 00:29:14.079
a tax prepayer the right to do whatever they want

406
00:29:14.119 --> 00:29:17.640
to do, and your tax return is wrong just because

407
00:29:17.680 --> 00:29:23.319
you want a refund, they want to look good. I've

408
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seen in many years of preparing taxes and fighting for

409
00:29:30.240 --> 00:29:35.079
IRS relief and resolution for clients, where a tax preparers

410
00:29:35.160 --> 00:29:38.759
just to make themselves look good at a business to

411
00:29:38.880 --> 00:29:43.400
your return, a business that lost a whole bunch of money,

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00:29:45.559 --> 00:29:48.359
and they've done it for multiple years. It used to

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00:29:48.359 --> 00:29:50.599
be they would fileow twenty one oh six, which is

414
00:29:50.720 --> 00:29:55.039
unreimbursed employee business expense and taken unguilely amount of mileage

415
00:29:55.079 --> 00:29:58.599
for you traveling back and forth to the office other

416
00:29:58.960 --> 00:30:01.880
business expenses as a write off. They're now doing the

417
00:30:01.920 --> 00:30:05.000
same thing in using a small business to do this,

418
00:30:05.920 --> 00:30:09.079
when you were never in business, you never had a business,

419
00:30:09.119 --> 00:30:12.759
you were maybe just a W two employee, and they

420
00:30:12.880 --> 00:30:15.799
get you a huge refund and you are so appreciative

421
00:30:16.200 --> 00:30:18.720
of this whole refund that you don't really look or

422
00:30:18.720 --> 00:30:24.519
pay attention, and that comes back to haunt you. And

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00:30:24.519 --> 00:30:28.039
that haunting can be tens to hundreds of thousands of

424
00:30:28.079 --> 00:30:37.640
dollars into taxes. And guess who's hung out to dry you?

425
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You know, not prepare if you've done it enough for

426
00:30:40.680 --> 00:30:44.039
people usually are one of these ghosts preparers. They don't

427
00:30:44.119 --> 00:30:46.400
have a PTI in They just file it as if

428
00:30:46.519 --> 00:30:50.599
you filed a self return, self prepared return, and they

429
00:30:50.599 --> 00:30:52.960
have no responsibility and no care in the world. Can

430
00:30:53.039 --> 00:30:56.000
you find them when the IRS comes to knocking, Oh,

431
00:30:56.559 --> 00:31:01.559
they're gone, HRS. You a bunch took off and you

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00:31:01.599 --> 00:31:03.960
never see him again. They're working from doing this somewhere else.

433
00:31:04.079 --> 00:31:07.359
They're not going to return your call. Their phone disappeared.

434
00:31:08.319 --> 00:31:10.839
They have a new phone. They didn't give it to you.

435
00:31:13.519 --> 00:31:18.039
And the only person that's in trouble is you. You.

436
00:31:18.039 --> 00:31:23.480
You guess who's paying it back? You? Guess who's got

437
00:31:23.519 --> 00:31:31.640
to fight the IRS? You penalties interest if it's large enough,

438
00:31:31.880 --> 00:31:36.799
they even just throw in the penalty for fraud. So

439
00:31:37.240 --> 00:31:42.880
find a good prepare. Find somebody that you can trust

440
00:31:43.279 --> 00:31:47.160
has a good reputation. Now, if you've been to where

441
00:31:47.559 --> 00:31:53.680
you have IRS problems and you are going to have

442
00:31:53.759 --> 00:31:57.000
to deal with the IRS. Don't go it alone.

443
00:31:57.119 --> 00:31:57.559
Get help.

444
00:31:58.440 --> 00:32:03.160
Taxation Solutions tax Relief will help you. If you call

445
00:32:03.200 --> 00:32:05.799
that number eight eight eight nine three zero one zero

446
00:32:05.880 --> 00:32:08.480
one six again eight eight eight nine three zero one

447
00:32:08.559 --> 00:32:11.359
zero one six or go to Taxation Solutions dot net,

448
00:32:13.559 --> 00:32:16.920
you can get the help you need to fight the IRS.

449
00:32:17.319 --> 00:32:21.720
You've had an unscrupulous tax prepayer that you trusted that

450
00:32:22.599 --> 00:32:25.680
did this to you. Hey, you need to get the

451
00:32:25.720 --> 00:32:27.880
help to fight the IRS and get some of these

452
00:32:27.880 --> 00:32:32.440
penalties relieved. Get you maybe as much relief as possible

453
00:32:33.200 --> 00:32:40.799
to help solve your tax problem. And that becomes key

454
00:32:40.920 --> 00:32:47.079
to you in getting through this issue with the IRS.

455
00:32:47.519 --> 00:32:49.920
Don't let a bad prepayer get you into that trouble.

456
00:32:50.319 --> 00:32:55.079
Find a good one, find a reputable one. You can

457
00:32:55.079 --> 00:32:59.079
even call us at Taxation Solutions and we can find

458
00:32:59.119 --> 00:33:01.039
a way to help you. If you are a trucker,

459
00:33:01.039 --> 00:33:06.279
called Trucker tax Tools dot com and let them help

460
00:33:06.359 --> 00:33:13.839
you through your trucker taxes and bookkeeping. And one of

461
00:33:13.880 --> 00:33:16.119
the things we were going to talk about today is

462
00:33:17.200 --> 00:33:22.000
choosing a bookkeeping service. You've found your good tax for prayer,

463
00:33:22.079 --> 00:33:24.839
maybe that tax for prayer is the right fit for you,

464
00:33:25.160 --> 00:33:28.839
and maybe they offer bookkeeping services. Check them out. Hey,

465
00:33:28.920 --> 00:33:31.839
let's find out in your industry. So what you're going

466
00:33:31.920 --> 00:33:36.440
to be looking for in a bookkeeping service is a

467
00:33:36.480 --> 00:33:41.960
company with experience, a good reputation, a history of working

468
00:33:42.000 --> 00:33:46.680
with business is similar to yours. So if you're a

469
00:33:46.720 --> 00:33:49.920
trucker owner operator, you go to Trucker tax tools dot com.

470
00:33:51.240 --> 00:33:59.759
We work with truckers. We help truckers with bookkeeping and taxes.

471
00:34:00.319 --> 00:34:02.599
You can call them at eight seven seven nine nine

472
00:34:02.720 --> 00:34:05.559
six two four seven seven. Hey, real nice thing Trucker

473
00:34:05.599 --> 00:34:09.159
Tax Tools. Right now, you're listening to us. Hey mentioned

474
00:34:09.239 --> 00:34:12.960
you here heard us on tax Talk for you, and

475
00:34:13.199 --> 00:34:18.519
they're giving away six months of free bookkeeping you as

476
00:34:18.599 --> 00:34:22.480
an owner operator, six months of free bookkeeping. Now, there's

477
00:34:22.519 --> 00:34:25.920
restrictions that apply. You know, we need to file your

478
00:34:25.920 --> 00:34:29.280
twenty twenty four tax return and pay for that, but

479
00:34:29.960 --> 00:34:33.400
you're going to get six months of free bookkeeping. So

480
00:34:33.599 --> 00:34:36.480
give them a call today and let's get this startus

481
00:34:36.480 --> 00:34:41.800
so we can help make your life run smoothly. When

482
00:34:41.800 --> 00:34:45.440
you're looking for experience, check how long they've been in

483
00:34:45.599 --> 00:34:52.480
business and how long they've been doing bookkeeping for your industry.

484
00:34:53.719 --> 00:34:56.480
You know, whether you're in childcare, whether you're in trucking,

485
00:34:56.639 --> 00:35:03.039
whether you're a consultant, a doctor, dentis, whatever it is,

486
00:35:03.119 --> 00:35:05.599
you're going to find somebody that has the experience in

487
00:35:05.599 --> 00:35:12.239
in yours. Check their pricing, find a service that offers

488
00:35:12.400 --> 00:35:17.199
competitive rates. If you call our office. We've got some

489
00:35:17.320 --> 00:35:19.760
very low base rates that are out there for the

490
00:35:19.760 --> 00:35:26.840
trucking industry and they're very, very competitive, and we're very transparent,

491
00:35:27.239 --> 00:35:28.719
and we're going to sit down and talk to you

492
00:35:28.760 --> 00:35:30.920
about what do you have. But again call us at

493
00:35:30.920 --> 00:35:38.280
eight seven seven six two four seven seven. Find somebody

494
00:35:38.320 --> 00:35:43.800
again that understands your industry. What are they going to

495
00:35:43.880 --> 00:35:47.320
give you? What do you get in the package of

496
00:35:48.480 --> 00:35:53.199
bookkeeping or with the bookkeeping that you're going through and

497
00:35:53.280 --> 00:35:57.039
getting helpful. Hey, we're going to take you a quick break.

498
00:35:57.079 --> 00:35:58.440
When we come back, we're going to talk a little

499
00:35:58.480 --> 00:36:01.199
bit more of things like truck or tax tools offers

500
00:36:01.320 --> 00:36:05.039
in their packages to truckers owner operators just like you,

501
00:36:05.559 --> 00:36:08.760
and things you can look for your business when you're

502
00:36:08.800 --> 00:36:11.599
looking for a bookkeeper as well. We're right back.

503
00:36:13.559 --> 00:36:17.239
We have only scratched the surface of today's show. Please

504
00:36:17.280 --> 00:36:20.519
stand by as Barry G. Fowler will be right back

505
00:36:20.639 --> 00:36:26.559
with tax talk for you. As an owner operator, you

506
00:36:26.679 --> 00:36:30.119
already spend too much time away from your family. Stop

507
00:36:30.199 --> 00:36:34.000
spending time doing paperwork. Go to Trucker tax toools dot

508
00:36:34.039 --> 00:36:38.960
com a solution filled specifically for truckers. Trucker tax toools

509
00:36:38.960 --> 00:36:45.159
dot Com makes your life run smoothly. Let's get back

510
00:36:45.199 --> 00:36:49.119
to tax stock for you with more tax stock once again.

511
00:36:49.599 --> 00:36:52.119
Here's your host, Barry G. Foller.

512
00:36:55.440 --> 00:37:00.000
Hey, welcome back. You know, very passionate about making sure

513
00:37:00.280 --> 00:37:04.960
that people are hiring the right tax preparer, right bookkeeping firm,

514
00:37:05.559 --> 00:37:08.800
the right people to help them and guide them in

515
00:37:08.880 --> 00:37:12.039
their in their business. And you know, we start talking

516
00:37:12.039 --> 00:37:17.159
about packages that are offered. We talk a lot about

517
00:37:17.239 --> 00:37:21.880
what Trucker tax Tools offers or what Taxation Solutions offers.

518
00:37:21.920 --> 00:37:25.280
And you know, Trucker tax Tools has a couple of

519
00:37:25.360 --> 00:37:28.039
different plans that are out there that we have the

520
00:37:28.079 --> 00:37:33.239
base plan, we have the owner operator Complete Care Plan,

521
00:37:33.320 --> 00:37:36.079
and we have the Platinum package that's out there, and

522
00:37:36.159 --> 00:37:39.960
each one gives a little bit different services as you go.

523
00:37:40.119 --> 00:37:42.719
But you know, the base plan is going to give

524
00:37:42.800 --> 00:37:50.320
you your your monthly bookkeeping, bank reconciliations, reconciling credit cards that

525
00:37:50.360 --> 00:37:53.119
are in the name of the business. You get a

526
00:37:53.159 --> 00:37:57.840
monthly statement of income and expenses balance sheet general ledger.

527
00:37:59.599 --> 00:38:04.599
We do accumulative statement of income and expenses in comparisons.

528
00:38:04.760 --> 00:38:07.280
Is longer you've been with us, the more comparisons you're

529
00:38:07.320 --> 00:38:13.559
going to get. Run a profit maximizer for you in

530
00:38:13.599 --> 00:38:19.280
this base plan. Unlimited discussion of your bookkeeping questions, so

531
00:38:19.320 --> 00:38:21.679
any questions you have over your bookkeeping, you can pick

532
00:38:21.719 --> 00:38:24.000
up the phone and call us. Somebody's going to be

533
00:38:24.000 --> 00:38:26.880
able to give you the answer that you're looking for.

534
00:38:28.840 --> 00:38:32.239
We do keep you abreast in all plans of anything

535
00:38:32.440 --> 00:38:34.880
new tax laws that may come in that it would

536
00:38:34.960 --> 00:38:40.159
affect you, and that's what you're going to get with

537
00:38:39.199 --> 00:38:42.800
the base plan. Now when we move into the complete

538
00:38:42.800 --> 00:38:47.320
care plan, it's the owner operator plan where you're self

539
00:38:47.360 --> 00:38:50.559
employed doing it as a DBA or maybe a single

540
00:38:50.599 --> 00:38:54.559
member LLC that's still on the schedule CEE. You're going

541
00:38:54.599 --> 00:38:56.239
to get all the stuff in the base plan, but

542
00:38:56.280 --> 00:38:59.159
then you're going to get where we run our tax

543
00:38:59.599 --> 00:39:03.719
minimum review, so we're looking at every way we can

544
00:39:03.800 --> 00:39:09.719
minimize your taxes. You also get unlimited discussion of your

545
00:39:09.760 --> 00:39:14.119
tax questions that would affect you on the current year

546
00:39:14.119 --> 00:39:16.760
that we're working on, so we're working on twenty twenty

547
00:39:16.760 --> 00:39:20.000
five bookkeeping. You have questions about twenty twenty five and

548
00:39:20.039 --> 00:39:22.079
how you can help reduce taxes, we're going to be

549
00:39:22.079 --> 00:39:25.519
going through and doing that again. We keep your breast

550
00:39:25.559 --> 00:39:28.760
of the new tax lass and everything. We do review

551
00:39:28.920 --> 00:39:31.840
of your three prior year tax returns, so if you're

552
00:39:31.880 --> 00:39:33.480
due to us, we go back and look at all

553
00:39:33.519 --> 00:39:35.920
three how can we find ways to save you money

554
00:39:35.960 --> 00:39:40.000
on those back returns, maybe there's mistakes, and then we

555
00:39:40.039 --> 00:39:44.480
do a financial review annually for you personally to review

556
00:39:44.480 --> 00:39:47.960
of your financial position, and then we would recommend that

557
00:39:47.960 --> 00:39:50.880
out to our investment advisors that are friends of ours

558
00:39:50.960 --> 00:39:56.079
that will give you a free look at maybe retirement

559
00:39:56.119 --> 00:40:00.239
plans or other ways of saving money as well. And

560
00:40:00.280 --> 00:40:03.000
in our owner operator package, it's going to come with

561
00:40:04.440 --> 00:40:09.519
your personal tax return prepared as well. So if you

562
00:40:09.719 --> 00:40:13.440
are an owner operator out there, those are the kind

563
00:40:13.480 --> 00:40:16.639
of packages you'd be looking for. Now we get into

564
00:40:16.639 --> 00:40:20.880
the Platinum package. The Platinum package adds a little bit

565
00:40:20.920 --> 00:40:24.559
more to this because now you are maybe an escort,

566
00:40:24.599 --> 00:40:28.119
maybe your multi member LLC or a partnership. You're now

567
00:40:28.199 --> 00:40:32.280
doing a corporate return, so it takes a little bit

568
00:40:32.320 --> 00:40:35.960
more strategy making sure that this balance sheet is one

569
00:40:36.000 --> 00:40:41.519
hundred percent out there and correct. You have more distinguishing

570
00:40:41.719 --> 00:40:46.679
between business and personal and so you're going to get

571
00:40:46.840 --> 00:40:50.960
your personal tax returns prepared, your estimated tax is prepared,

572
00:40:51.760 --> 00:40:58.320
and your federal or corporate partnership tax returns prepared in

573
00:40:58.400 --> 00:41:00.599
this plan as well.

574
00:41:00.639 --> 00:41:01.400
And we do.

575
00:41:03.079 --> 00:41:06.480
Run that tax minimizer and again still give that financial

576
00:41:07.280 --> 00:41:13.440
review every year, both the owner operator plans and the

577
00:41:13.519 --> 00:41:16.679
button the plan out here. You know, we look at

578
00:41:16.760 --> 00:41:20.039
estimated tax payments, and that's something that's really important for

579
00:41:20.920 --> 00:41:24.920
truck drivers or any small business person out there to

580
00:41:25.000 --> 00:41:28.079
make sure that they're paying in the proper amount of

581
00:41:29.840 --> 00:41:34.119
estimated taxes each year based on their business and how

582
00:41:34.639 --> 00:41:38.400
it's going. But it's also going to come with a

583
00:41:38.480 --> 00:41:43.639
tax planning meeting. So we go through at least once

584
00:41:43.679 --> 00:41:47.480
sometimes twice a year and do tax planning for our

585
00:41:47.480 --> 00:41:51.519
Platinum Package clients and our owner operator Complete Care clients

586
00:41:52.079 --> 00:41:56.239
to make sure that they're doing everything they can to

587
00:41:56.400 --> 00:42:00.679
minimize the taxes that they're going to incur at the

588
00:42:00.800 --> 00:42:04.880
end of the year. This is a great way to

589
00:42:05.000 --> 00:42:07.920
check where you are in business and make sure that

590
00:42:08.000 --> 00:42:11.239
you've made your estimated tax payments or remind you if

591
00:42:11.280 --> 00:42:15.280
you haven't that you know you've got to get in

592
00:42:15.360 --> 00:42:21.880
and make these estimated tax payments out there for your business.

593
00:42:21.880 --> 00:42:22.159
Now.

594
00:42:22.440 --> 00:42:25.199
Hey, if you're an owner operator, call Trucker Tax Tools

595
00:42:25.239 --> 00:42:28.280
eight seven seven nine nine six two four seven seven

596
00:42:28.360 --> 00:42:33.519
ask for the free six months of bookkeeping free six

597
00:42:33.599 --> 00:42:37.440
months of bookkeeping. Hey, it's a great special that we

598
00:42:37.480 --> 00:42:39.320
have run in here at the beginning of the year

599
00:42:39.719 --> 00:42:44.800
for owner operators out there. So get in there and

600
00:42:45.159 --> 00:42:53.320
ask that question and get yourself free bookkeeping for six months.

601
00:42:54.280 --> 00:42:55.719
Some of the things you want to look for at

602
00:42:55.719 --> 00:43:00.000
a bookkeeping company software so you know are they working

603
00:43:00.159 --> 00:43:02.719
with your preferred software. If you have a software you

604
00:43:02.760 --> 00:43:06.760
are using QuickBooks, are using Zero. We're suggesting more and

605
00:43:06.800 --> 00:43:11.519
more people move over to zero for their bookkeeping with

606
00:43:11.639 --> 00:43:16.800
us rather than using quick Books. That we now use

607
00:43:16.880 --> 00:43:21.559
Zero as our software provider out there. So if you

608
00:43:21.599 --> 00:43:24.519
are using zero and you need help, we are certified

609
00:43:24.559 --> 00:43:29.519
in zero as well, and that's x e r O

610
00:43:30.159 --> 00:43:35.559
is the zero software for book keeping. You can go

611
00:43:35.800 --> 00:43:38.159
x e r o dot com and you can see

612
00:43:38.199 --> 00:43:42.039
the software that they offer out there. But again you

613
00:43:42.039 --> 00:43:44.400
don't necessarily want to do it yourself. It's not a

614
00:43:44.440 --> 00:43:48.559
do it yourself program. Pick up the phone and call us.

615
00:43:49.480 --> 00:43:51.679
Let us figure out a way how we can help

616
00:43:51.760 --> 00:43:57.679
you help yourself and your business. Other considerations. Look for

617
00:43:57.719 --> 00:44:04.320
a service with you know, good ratings BBB. Ask for

618
00:44:04.400 --> 00:44:08.920
referrals from your friends in the industry, so maybe you're

619
00:44:09.199 --> 00:44:12.840
at an industry or a show. Then ask them who

620
00:44:12.880 --> 00:44:19.599
they're using to help service bookkeeping in your industry or

621
00:44:19.719 --> 00:44:22.599
what they do. And then make sure you're comfortable with

622
00:44:22.639 --> 00:44:25.199
the company, with the people who you're going to work

623
00:44:25.199 --> 00:44:27.559
with on your account. Make sure that somebody that's going

624
00:44:27.599 --> 00:44:31.159
to continue to talk to you. The biggest problem we

625
00:44:31.360 --> 00:44:36.119
get and the complaints that we get is that we

626
00:44:36.159 --> 00:44:42.119
call too much. Maybe we asked for too much information.

627
00:44:43.320 --> 00:44:45.559
But that's part of our great bookkeeping service that Trucker

628
00:44:45.639 --> 00:44:49.639
Tax tools is we are asking for information so that

629
00:44:49.679 --> 00:44:53.119
we can make sure your bookkeeping is one hundred percent

630
00:44:53.280 --> 00:44:57.880
correct and make sure that you have the information to

631
00:44:57.960 --> 00:45:05.159
be able to make good, sound financial decisions for yourself.

632
00:45:05.440 --> 00:45:09.320
In business. We include things like cash flow statements and

633
00:45:09.400 --> 00:45:11.159
a whole bunch of other statements so that you can

634
00:45:11.199 --> 00:45:13.840
see how your business is doing. When you have a

635
00:45:13.920 --> 00:45:15.920
question in your bookkeeping, you pick up the phone, and

636
00:45:15.960 --> 00:45:19.360
you call and you get a hold of somebody. At times,

637
00:45:19.360 --> 00:45:22.480
we get really busy, especially during tax season, and you

638
00:45:22.519 --> 00:45:25.880
may get to the answering service. We return the phone

639
00:45:25.880 --> 00:45:29.719
calls to make sure that you get a chance to

640
00:45:29.800 --> 00:45:36.280
ask a question and get your questions answered. You know,

641
00:45:38.079 --> 00:45:41.880
does your bookkeeping service need to be local? No, absolutely not.

642
00:45:42.000 --> 00:45:45.920
We are in a national firm. We handle bookkeeping all

643
00:45:45.960 --> 00:45:48.239
across the country for our owner operator. As a matter

644
00:45:48.280 --> 00:45:52.840
of fact, we make bookkeeping so simple for you that

645
00:45:52.920 --> 00:45:54.719
a lot of times we work with our clients where

646
00:45:54.719 --> 00:45:57.039
we pull bank statements, where we pull credit card statements,

647
00:45:57.079 --> 00:46:00.480
we pull settlement statements, we pull the information we need

648
00:46:00.519 --> 00:46:03.599
to process the bookkeeping for you to keep your truck

649
00:46:03.920 --> 00:46:07.840
on the road and keep it as simple as possible.

650
00:46:09.000 --> 00:46:14.760
So we use a little bit of the KISS system

651
00:46:14.800 --> 00:46:19.000
out there. Keep it simple and smart. Okay, we want

652
00:46:19.039 --> 00:46:22.239
to keep it as simple as possible for you and

653
00:46:22.320 --> 00:46:25.679
smart giving you as much time to be able to

654
00:46:25.719 --> 00:46:31.760
be home with your family and not Hey, I just

655
00:46:31.800 --> 00:46:33.960
got home off the road as an owner operator. Now

656
00:46:33.960 --> 00:46:36.280
I've got to go and work on my books. Or

657
00:46:36.320 --> 00:46:38.360
maybe my wife is taking care of the family and

658
00:46:38.519 --> 00:46:42.159
she's now going to trudge through the books. That becomes

659
00:46:42.199 --> 00:46:44.119
our job. You turn it over to us and you

660
00:46:44.159 --> 00:46:49.840
get the relief of that. You know, in the show,

661
00:46:49.960 --> 00:46:53.360
we kind of like talking about ways that we help people,

662
00:46:53.880 --> 00:47:01.800
ways you can help yourself. Ours is a way of

663
00:47:02.199 --> 00:47:05.559
giving you the guidance kind of like a GPS to

664
00:47:05.679 --> 00:47:09.199
keep your trucks in your business moving on the road

665
00:47:09.559 --> 00:47:13.840
in the right way, in the making as much money

666
00:47:13.880 --> 00:47:21.639
as possible, the GPS of finding tax deductions, maybe doing

667
00:47:21.679 --> 00:47:24.559
something that nobody else has ever done, and talk to

668
00:47:24.639 --> 00:47:29.679
you about retirement and putting money away for your year

669
00:47:29.960 --> 00:47:34.599
and your family's future. So these are the incredible things

670
00:47:34.639 --> 00:47:37.639
that you get with the bookkeeping in taxes that we

671
00:47:37.719 --> 00:47:39.760
do a truck or taxles is the things you should

672
00:47:39.800 --> 00:47:43.360
be looking for when you go somewhere else. Don't get

673
00:47:43.360 --> 00:47:48.760
yourself in trouble going to somebody that does a half

674
00:47:48.960 --> 00:47:53.119
job and you have half baked books out there, or

675
00:47:53.840 --> 00:47:56.159
they do things just to make themselves look good and

676
00:47:56.199 --> 00:47:59.679
get you the largest refund. You know, we suggest things

677
00:47:59.719 --> 00:48:02.719
we work with you to get you the best refund

678
00:48:02.880 --> 00:48:06.039
or minimize the amount of tax. And that's really what

679
00:48:06.119 --> 00:48:09.440
the goal is. To minimize the amount of tax that

680
00:48:10.599 --> 00:48:13.320
you're going to have to pay. Whether it's an estimated

681
00:48:13.320 --> 00:48:15.880
tax payments or whatever it is. It's not the refund

682
00:48:15.920 --> 00:48:20.239
amount because everybody focuses on the refund. It's at the

683
00:48:20.239 --> 00:48:24.320
bottom line, how much tax do I pay this year

684
00:48:24.440 --> 00:48:27.079
versus last year? How much am I getting tax in

685
00:48:27.199 --> 00:48:32.199
my income? What's my marginal tax bracket? What's the tax

686
00:48:32.679 --> 00:48:34.079
See I could have you pay a heck of a

687
00:48:34.119 --> 00:48:36.079
lot more in estimated tax payments and then you get

688
00:48:36.079 --> 00:48:42.519
a big refund back. Who looks good, supposedly me. That's

689
00:48:42.519 --> 00:48:45.199
not the job. That's not what makes you look good.

690
00:48:45.800 --> 00:48:49.159
If your break even and you've paid in just the

691
00:48:49.239 --> 00:48:53.119
right amount of tax for what you owe, that was

692
00:48:53.159 --> 00:48:57.320
the goal. If you've managed to save money on taxes,

693
00:48:57.519 --> 00:49:02.119
that is the goal. That's not the goal of a

694
00:49:02.159 --> 00:49:09.199
refund out there. So uh Veta prepares veter bookkeeping service.

695
00:49:09.679 --> 00:49:13.360
Make sure you're with the people that can do this

696
00:49:13.800 --> 00:49:18.840
right for you. That's what you need to do. Hey,

697
00:49:18.880 --> 00:49:20.880
what you need to do is turn in. Tune in

698
00:49:21.039 --> 00:49:24.320
every Monday at ten am Eastern Time at tax Talk

699
00:49:24.559 --> 00:49:29.159
for You or W four cy radio dot com and

700
00:49:29.480 --> 00:49:31.559
listen to the show. Go to tax Talk for You

701
00:49:31.599 --> 00:49:36.559
subscribe so you never miss an episode. So you never

702
00:49:37.320 --> 00:49:41.559
are late getting here, and if you've got questions, call in,

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text in let us answer these questions for you. Let

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us help you save money on taxes every year, every day, Plan,

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plan plan, that's the goal, that's the objective. That's what

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we do here at tax Talk for You. Hey again,

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tune in next Monday, ten am Eastern time right here

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at W four c Y Radio or tax Talk for

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you dot com. Thank you have a God blessed you

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glorious week.

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Are you an individual or business that wants to understand

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taxes and how they affect you? Are you looking for

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specific tax advice for self employed business owners and truckers.

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Are you behind on taxes and your bookkeeping? Are you

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dealing with dirs and ready to have some relief? Then

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you need Tax Talk for You, hosted by tax and

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trucker expert Barry G. Fowler EA Kenyan, ten am Eastern

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time every Monday right here on W four CY Radio

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and Talk for TV. Don't forget to check this and past.

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Episodes at tax.

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Talkforyu dot com. See you next week at W FOURCY

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dot com