As I continued my quest in the tax preparation business I happen to receive a referral, at this time again I did not understand the benefit of the referral business, it could be good or it could be bad, as you continue to read my blogs you will understand my point.
This client happened to be employed by the department of corrections I started deducting his expenses related to uniforms cost, cleaning, ammo spent while traveling to the range safe or lock box union dues all of theses expenses where related to his employment, so they where legal deductions, the problem once again was as I requested this information the client was giving me estimates from his head, I stated you need to maintain your receipts for all your expenses but what I did was gave him the deductionsbased on the estimates he provided to me, after I prepared his tax return business became great I started preparing tax return for mostly corrections officers then it began to be police officers, 90 % of my client base was law enforcement. Did I find my nitch or was I in for a world of trouble. I prepared the tax return for mostly all the correction officers in the state of New Jersey as well as local police departments and the state police in new jersey. I felt like, I did it again I ask my self. Did I had something haunting which was my mother's neighbor.
As my business continue to grow I continue to feel like I was doing something wrong. During the year of 2000 the government allowed tax payers to electronically file their tax return at this time, I thought wow!, I should open multiple locations, I would have taken over the state of New Jersey in this business but I had a silent partner that was un educated so I did not do this because I was talked out of this I consider myself to be packman because I was gobbling up all these local tax preparers clients they where coming to me, I felt powerful, so keep in mind dealing with law enforcement officers is not as easy as we think.
One of my clients that was a state police officer had a brother that was preparing the tax returns for theses state troopers before they came to me and he happened to lose all his state police clients to me, so he did what any honorable American citizen would do because, he lost his entire client base to me. He called the IRS Criminal Investigations Unit on me, during the year of 2000 and what do you think happened?.
They approached him and he stated that I placed all these items on his tax returns, that's not all he said he then took the referral business to another level he started giving the government all the people that also work with him at the state police that had their taxes prepared by my firm so they went from one referral to another just think the referral business is good right, funny right! you got to laugh at this stuff. They approached me I beat the charge because most of them did have receipts my enemies in the tax business where not happy because my company got even larger after this happened.
I will write my book soon it will be a great seller .
My Next blog is a good one your gonna love it
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