Landmark Tax Group - May 2019

Landmark Tax Group - May 2019

Landmark Ledger My First Client

(949) 260-4770 Professional | Experienced | Licensed Expert IRS & State Tax Relief

May 2019

Building Relationships and Finding Solutions for Real People

When I first started Landmark Tax Group, I told my wife

confidence in me at the time and as I moved throughout the early years of my practice.

Hanna that I was going to break into a celebratory dance when I landed my first client. True to my word, promptly after hanging up the first call with my first client, I got up from my desk, closed the door to my office, and proceeded to dance. Even in this stressful industry, you have to find ways to have a little fun on a daily basis. Plus, my work with this first client was more significant than just signaling the official start of my back-tax resolution business. When I worked for the IRS, I actually collaborated with what would end up being my very first client, “John”, and his tax representative for about a year to find a compromise that was fair to both him and the U.S. government. Then in 2012, after eight years with the IRS, I began Landmark Tax Group and put the word out that I had changed sides of the table, so to speak. I reached out to the tax representatives and professionals I had worked with while at the IRS, including John’s representative. The representative and I had developed a good rapport over the years I spent working with him on a variety of taxpayers’ cases while I was at the IRS. He, and many other tax representatives, were very receptive to my switch. That same spring, I received a call from John, who had been recommended to me by his representative. He was facing an issue separate from the case I worked on previously, but I was encouraged to know that we had developed the kind of relationship that made him trust me once again with a distressing tax problem. John had such a positive experience with me as an IRS agent that when the time came to find a professional to help him resolve another IRS issue, he was insisting to work with me again. This instilled a lot of

The biggest thing I learned from that phone call, and subsequently helping John’s tax debt get cut in half, is that there is power in relationships, even when it comes to taxes. I’ve since had other taxpayers I knew from my time with the IRS express their gratitude, and after resolving thousands of cases, it’s always heartening to hear that I’ve helped someone. This feedback makes me proud to continue the work I do every day at Landmark Tax Group. Whenever anyone deals with the IRS, they are terrified, and they often get to the point where they procrastinate finding a solution because they are too scared to act. Even as an IRS agent, I always tried to put myself in the taxpayer’s shoes to develop some level of understanding of the overwhelming situation they were in. The only real difference between working for the IRS and running Landmark Tax Group is that, for eight years at the IRS, my client was the federal government. Even when I was able to find that understanding with taxpayers and their tax representatives, I still had to make sure I was doing right by the IRS. But as a tax resolution expert with my own firm, my focus is solely on the taxpayer I’m helping. I can pull from my eight years with the IRS to educate clients about the tax code and how the IRS works, but at the end of the day, my main focus is on their well-being. I’m just glad to say that from the outset of my business venture, John saw that dedication in me and gave me an opportunity to break into my very first happy dance. Fortunately, there have been many happy dances since.

“One of the most highly rated and best reviewed businesses on Yelp!” AS SEEN ON:

Entreprenuer, Inc

–Michael Raanan, MBA, EA, Former IRS Agent

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Published by The Newsletter Pro | The NewsletterPro.com

How to Find Success in a Month of Excess May’s Food-Related Holidays Are a Thing of Beauty

Set the diets aside and poke another notch or two in your belt because May isn’t pulling any punches when it comes to sweet and savory holiday regrets. From National Hoagie Day and National Pizza Party Day to the holidays that really spell it out for you like International No Diet Day and National Eat What You Want Day, we’re all looking forward to an excuse to let our stomachs hang low this month. For those of you who plan on partaking, let’s take a look at the best junk food-related holidays this month and how to celebrate them!

little lazy, throw an apple pie potluck and watch your store-bought delight steal the show as your audience praises your craftsmanship and attention to detail — just how Sara Lee taught you.

NATIONAL HAMBURGER DAY TUESDAY, MAY 28

As if one day wasn’t enough, it turns out that the entire month of May is recognized as National Hamburger Month! Meat lovers rejoice as patties of heavenly beef are passed around the table for all to enjoy. There’s no shortage

NATIONAL APPLE PIE DAY MONDAY, MAY 13

of ways to celebrate this patriotic pastime. From grilling out with the neighbors to making sliders for your new love interest, there’s a little something for everyone, especially considering the advances we’ve made in burger technology in recent years. If meat isn’t your thing, throw a veggie or tofu burger on the grill and season it to mouth-watering perfection. We won’t tell the beef purists if you don’t.

Gather your friends and family around the table and dust off Grandma’s old recipes, because it’s time to treat yourself to the most American thing

since, well, itself. National Apple Pie Day is a great opportunity to spend quality time with your loved ones while baking the most traditional American dessert. Make the process a game by pairing off into teams for a bake-off; you can even pit the kids against the adults — with a little supervision of course. If you’re feeling a

Eat up, everybody. Happy holidays.

FREE REPORT: How to Stop the IRS From Taking Your Passport

Before you load up your suitcases for summer adventures, learn how you can avoid getting your passport revoked by the IRS with a free report from the experts at Landmark Tax Group. As stipulations for travel become increasingly more complex, knowledge like this can help you travel smarter. If you owe more than $50,000 in tax-related debt, including interest and fees, the IRS can ask the State Department to revoke your passport at any time — even if you are overseas — or prevent you from obtaining one. The State Department will only do this when asked by the IRS, and exceptions can be made. For example, if you are filing for bankruptcy or have a pending offer in compromise for your tax debt, the IRS will hold off on asking the State Department to intervene. Signed into law in 2015, this new penalty for tax debt didn’t pass without controversy. In 2012, the idea was first introduced amid backlash. Opponents argue that the government’s attempts to require travelers to have real IDs or passports to travel makes this law discriminatory. Additionally, four states have refused to comply with real-ID requirements, and The Los Angeles Times reported in 2016 that 26 states failed to meet real-ID standards. This makes it nearly impossible for some citizens to travel without a passport.

Advocates for the bill claimed the law aids the IRS in obtaining the more than $400 billion owed in assessed taxes. Wrapped in the December of 2015 transportation bill, the IRS’s right to revoke your passport passed with little flare.

At Landmark Tax Group, we have compiled a free report that outlines the situations that may prompt a revocation, what may dissuade the IRS from taking your passport, ways you can prevent it from being taken away, and how you can get your passport back. This report was compiled by Landmark Tax Group founder and owner Michael Raanan, who used his previous experience as an IRS agent to provide insider knowledge. If you would like a free copy of this report, please visit LandmarkTaxGroup.com/Passport . If you are facing tax debt, our experts can help. Call (949) 260-4770 or visit LandmarkTaxGroup.com.

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Tax Season Is Over! Now What?

Tax season may be over, but your responsibilities haven’t ended just yet. Prepare for future tax seasons and be secure in your financial plan by following these tips.

use these documents to help file your taxes next year, and keeping proof of your filing will help if you need to make an amended return.

BE YOUR OWN AUDITOR

Now that you survived the first tax season since the largest tax reform in decades, determine if you need to make updates to your personal finances and records. You don’t need a degree in accounting to audit yourself after tax season, and it can be vital to make sure your financial plan is up to snuff. For example, start by assessing what you may owe. If you owe more to the Internal Revenue Service (IRS), this could mean you were under-withholding from your wages. If you received a large tax refund, you may also need to make adjustments to your withholding, because this can mean you’re giving more money than necessary to the government each month.

But what should you keep, and for how long should you keep it? Ideally, you want to save your tax records for three years. Determine which documents are more important than others, and keep those records even longer. For example, any paperwork related to the purchase of a home or stock is valuable and should be kept longer. Additionally, keep any documents you used to file your tax returns this year. When it is time to ditch these documents, shred them instead of tossing them. Learn more about keeping tax documents by visiting LandmarkTaxGroup.com and searching for “Tax Records.” If you are struggling with tax debt, don’t wait any longer to seek help. Learn more about how the experts at Landmark Tax Group can help you by calling (949) 260-4770.

WHAT ABOUT THESE PAPERS?

From W-2s to 1099s, the piles of paperwork you accumulate after tax season can be overwhelming. However, it is important to keep this information because these documents are proof of what you owe or are owed after tax season. You can even

TAX QUOTES

“Taxation with representation ain’t so hot either.” –Gerald Barzan, humorist “Income tax has made more liars out of the American people than golf.” –Will Rogers, humorist

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Inside This Issue My First Client 1 How to Celebrate Indulgent May Holidays Travel Without Fear This Summer 2 What to Do Now That Tax Season Is Over Tax Quotes 3 How to Travel Sustainably 4

Sudoku Answer Key

Go Green Vacations can come with great expense, and not just for your bank account. According to a 2018 study published in Nature Climate Change, travel accounts for 8 percent of global greenhouse gas emissions. Cut through the greenwashing and do your part to lessen these emissions by traveling sustainably. Get Out There With These Eco-Tourism Tips Travel Green When possible, trains, hybrid buses, and carpooling are great alternatives to larger, more environmentally intrusive travel methods. Large cruise liners are detrimental to oceans, and airplanes emit large amounts of toxins into the air. However, you can cruise and fly with the earth in mind. Some cruise lines are working to reduce their impact by installing more eco-friendly lighting and materials, and flight experts recommend using “green” airports, choosing fuel-efficient airlines, staying longer, and traveling less. If anything, it’s an excuse to extend your European vacation! Stay Green Where you stay impacts the environment as much as how you get there. Hotels use copious amounts of water for bathing and laundry, and they struggle to reduce energy

because guests leave their lights and televisions on. However, many luxury resorts, woodsy cabins, and even entire countries have opted to make eco-tourism easier. If you’re looking for a region of the world committed to preserving nature, look no further than Iceland, Finland, and Sweden, which are ranked the three most environmentally friendly places in the world. Do Green Man-made attractions like the Egyptian pyramids and Machu Picchu are some of the world’s greatest wonders, but Earth itself is pretty breathtaking. Check out natural attractions while hiking or camping in preserved forests, or soak up all the Caribbean has to offer by snorkeling, scuba diving, sailing, kayaking, canoeing, and paddleboarding. When you’re mindful of your surroundings and remain unobtrusive, there are endless outdoor activities you can explore. Some locations even partner with environmentally conscious organizations you can donate to or volunteer with.

Opt for a green vacation and know that while you relax, the earth is getting a little relief too.

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