Take a look at the latest edition of The Roz Report!
The Roz Report
JAN/FEB 2023
AUTHORIZED MEMBER 2023
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TRY THE ‘WHAT’S IN IT FOR THEM?’ STRATEGY When I was starting out in the tax resolution business, I went to a lot of networking meetings. You can probably imagine the scene: I stepped through the door hopeful of the meeting room, looking for new friends and partners. I smiled at the crowd — and got 15 fake, phony smiles in return. It didn’t take me long to learn that most networking meetings are full of takers. These business owners act like they want to be your friends and help your company grow, but in fact, they have an agenda. When they shake your hand and ask about your business, it isn’t because they’re curious. They’re just wondering what’s in it for them. This taker mentality isn’t just an annoyance to be around — it’s also bad for business. I figured this out years ago but couldn’t quite put it into words until I read Joe Polish’s fantastic new book, “What’s in It for Them? 9 Genius Networking Principles to Get What You Want by Helping Others Get What They Want.” Roslyn and I have been part of Joe Polish’s mastermind, Genius Network, since 2016, and we’re big believers in his philosophy. But I think this book is his best work yet. “What’s in It for Them?” dives deep into the idea that if you want to succeed, you must approach your potential business partners, “I got so much value out of ‘What’s in It for Them?’ that Roslyn and I have purchased copies for all of our Founder’s Mastermind and Platinum Mastermind members.” Want to Convert More Prospects to Clients?
clients, and other contacts without an agenda. Instead of asking, “What can they do for me?” ask yourself, “What can I do for them?” Here is one of my favorite quotes from the book: “By asking this question, you shift the focus off of you and onto the ways you can be useful to others. You get out of the transactional, networking mindset and start to form transformational, meaningful, and collaborative relationships.” Joe refers to these relationships as E.L.F. (easy, lucrative, and fun) versus H.A.L.F (hard, annoying, lame, and frustrating). This is exactly how Roslyn and I approach business here at Roz Strategies. We do everything in our power to put our members first and furnish them with the tools and resources they need to be as successful as possible. Our approach is member-focused, but it also benefits us because our company’s success is based on our members’ success!
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FOOD FOR THOUGHT Small Acts of Kindness Add Up to Make a Big Difference
Everyone wants to feel that they matter and are cared about; it’s human nature. Recently, I saw how an entire community of strangers, me included, came forward for a family that needed help and how a terrible moment turned into not only a wonderful outcome but also a restored faith in people. It all started one night while Michael was watching a police car chase on TV. I don’t know how it is in other parts of the country, but in Los Angeles, the TV news follows police chases from beginning to end in their helicopters until the suspect is caught or, in rare instances, escapes. I walked into the family room, and Michael filled me in on the details, saying the person was driving the third car he’d carjacked. I usually don’t watch car chases, but as several police cars pursued the man in the stolen vehicle, I wondered how he was able to steal three automobiles and not get apprehended. Intrigued, I sat on the couch. It was 6 p.m. and dark outside. The carjacker was driving a landscaper’s truck filled with tools up a curvy hill at top speeds that showed on the TV screen of 60–70 miles per hour. Since it was during rush hour, I felt nervous for anyone driving down the hill, not knowing what was going on and possibly running head-on into the truck. The suspect drove crazily, sideswiping other vehicles. The newscasters in the studio and the helicopter pilot were talking about the chase: when it started, the other two cars taken, and where the action was taking place. One newscaster started talking about the truck and said it
looked like a big, new, expensive truck filled with landscaping equipment. Much of it had fallen out of the back as the driver drove fast and turned corners. In my mind, I knew — this truck belonged to someone who had worked hard to buy it and the tools in it, and they were in no position to replace what they were losing. I felt sad for someone I didn’t know. Within the half-hour, the suspect smashed into a police car at a gas station, barely missing the pump, and was finally apprehended. The camera shifted to a reporter interviewing a young man who owned the truck. His name was Andres, and he was at his house and said he bought the truck three weeks prior, saving for years to buy it. He lived with his parents, and he and his brother worked with his father. He shared how the thief broke into his house and stole the keys to the truck. As Andres ran after the thief, his mother grabbed her son’s arm so he wouldn’t get hurt. I know what it feels like to work hard to own something, then have it stolen from you. It’s a terrible feeling as well as a shock to your system. Something struck a chord in me that I wanted to help in some small way. The next day, I did an online search to see if there was a GoFundMe page. I’ve never donated this way, and honestly, it would take an entire other column to describe why I wanted to do this. But when I found the page, I realized I wasn’t the only person who thought this way, as there were literally hundreds of people who donated from as little as $5 to
someone donating $1,000. Within two days, a couple thousand people had donated. There were so many caring notes written, too. Best of all was the response from Andres and his family. He posted several notes over a few days sharing their appreciation and gratitude for a community of people who helped and didn’t know him or his family and how they were able to buy a truck and tools and get back in business. And Andres paid it forward to the person who owned the second vehicle, as his car was totaled. Andres met with that man, who shared his story of his stolen car, and Andres handed him an envelope and shared some of the donated money. Talk about a kumbaya moment! It was so wonderful to see so much good coming out of a terrible moment. Of course, it’s not possible to donate to every GoFundMe cause. My point is that even one small act of kindness can make a difference. In this instance, so many people acted that all those small donations added up to make a big difference. Best of all was the appreciation the family had for all the strangers who helped them out and that they were able to help out another family.
My question to you is this: What small act of kindness have you done recently?
Whether it was a small or large gesture, just know it matters, it all counts, maybe even more than you know. –Roslyn Rozbruch
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How Much Should You Spend on Marketing? FROM THE PRACTICE CORNER
A question I get asked all the time is, “Mike, how much should I spend on marketing to attract a new tax resolution client?” The rule of thumb is that if you are doing paid marketing, such as direct mail, Google ads, or radio, 15%–20% of gross sales should be earmarked for your marketing budget. Just like oxygen is necessary to sustain human life, marketing is the lifeblood of any business, especially in the tax resolution business. For example, the cost to acquire a new tax resolution client is about $1,000. That’s 20% of $5,000, which is what you should budget for marketing to acquire each new client. If you want five new clients a month, clients who pay an average fee of $5,000, that’s $25,000 gross a month. You need to earmark or budget about $5,000 in marketing to attract five new tax resolution clients. If you want to do more than that, assume the investment is about $1,000 for each new client.
The higher the total case value, though, the lower the percentage is to acquire that client. When I had my practice, each new client was worth $8,700 to the firm. My acquisition costs were right around $1,000 to acquire that client. So, my marketing budget was 11.5% of the gross. Getting your fees right is one of the most important factors to running a successful tax resolution business, so be sure to price your cases high enough. It takes money to make money. You should view your marketing spend as an investment and not an expense. And most importantly, you should never delegate your marketing unless you fully comprehend and embrace it. Remember, the general rule of thumb is to invest about $1,000 in marketing to attract a new resolution client. When you understand the potential to create wealth and get rich while helping taxpayers solve a huge problem — and in many cases, save their financial lives — it makes sense to spend your time and money marketing to high-value clients instead of the cheap 1040 crowd.
“Just like oxygen is necessary to sustain human life, marketing is the lifeblood of any business, especially in the tax resolution business.”
–Michael Rozbruch
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PLATINUM MASTERMIND MEMBER SPOTLIGHT
Melinda Tolbert, EA
Everyone remembers their first tax resolution client. Most say resolving their first case showed them how important and satisfying it is to help clients fight the IRS. For Melinda Tolbert, owner of MJ Tolbert Tax Audit Group in Columbus, Georgia, it’s no different. What is different is that she was her first client. But 18 years before Melinda received that dreaded notice from the IRS, she worked at a job in corporate America — until she became sick. She says, “I became very ill, my leave of absence expired, and I was terminated from my job.”When that happened, Melinda made a commitment to herself, saying, “I would never allow a corporation that I gave my all to just throw me away.”
a tax resolution company until I became an EA to be able to make those calls and work those cases by myself.”
Melinda joined the Founder’s Mastermind in 2021, and in February 2022, she became an Enrolled Agent (EA). Her practice has been doing so well that she applied and has been accepted into the Platinum Mastermind. “Michael’s systems have solutions for everything. So, I just follow the system,” she says. “We have a script in place from start to finish, and if for some reason I can’t convert a client, I have a follow-up system in place that I got from Michael’s program that always turns those leads into clients.”
Once Melinda got better, she started exploring different ways to start her own business. She was interested in doing taxes and enrolled in a tax prep course. After completion, the company offered her a job in management. “I stuck to my guns that I would never work for another corporation, so I stepped out on faith, and I started my own tax business,” she recalls. “When I first started, I didn’t know a whole lot, so I just stuck with what I knew, and that was basic individual tax preparation.”
Two of those clients proved to be large cases. One client owed $126,012, and Melinda settled the case with an offer in compromise of $14,000. With results like these, Melinda says she feels like she is living a dream. “Sometimes
I look in the mirror, and I’m like, ‘Is this really real?’ I just didn’t ever expect my business to grow this fast. But the love I have for taxes and the joy it brings me from helping people beat the IRS at their own game is my gift and assignment from God,” she says.
Even with systems in place, Melinda says, “Sometimes we’re in our own way. I had to learn that the need for everything to be perfect is
Her fledgling business grew, and by the fourth year, Melinda was making six figures from tax prep. Then the dreaded letter showed up in her mailbox. “I was audited by the IRS,” Melinda says. “That’s what introduced me to tax resolution because I had to learn how to beat the IRS with my own audit.” Melinda was able to successfully settle her tax issue. After it was resolved, a lightbulb went on in her mind as she realized many other people must have IRS problems and need help. “I had my own tax issues, so I clearly understand what business owners are going through.” As Melinda started researching online how to start a tax resolution practice, she noticed ads of Michael [Rozbruch] popping up everywhere. She was interested in the Tax Resolution Domination System and Toolkit, and after she purchased it, she quickly saw the value it provided. “I started doing everything Michael told me to do,” she says. “Even before I became an enrolled agent, he taught me how to run
impossible.”With that philosophy and the right procedures in place, she’s discovered she has more time to spend with family. Melinda married her high school sweetheart, Jack Jr., and they have three children: sons Jack III and JaKeith, and daughter Marya. Jack III has begun his career working with Delta Airlines in Atlanta, and JaKeith is a sophomore in high school, where he excels in football, basketball, and track. They were blessed with Marya nine years ago. With more free time, the Tolberts are able to also indulge in their favorite hobby, travel. Melinda says, “The program with Michael has freed up so much of my time. I can work from anywhere in the world, and I can travel as much as I want.” Her last trip was to Dubai for her 40th birthday, and she says it was one of her favorite vacations. “If my kids weren’t in school, we’d be traveling right now!” she exclaims.
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The 2023 Audit Protection Network Plaques
Check Your Mailbox for Your Plaque!
Have Been Mailed Out!
If you’ve just purchased the Client Care Package or if you’re a member of the Audit Protection Network , you should have received your 2023 Audit Protection Plaque! Be sure to display your plaque on your desk, conference room, or reception area. Having it on display is a great way for your clients to ask about your Client Care Package (which includes Audit Protection) and be excited to have you offer it! If you would like extra plaques at our cost, plus shipping, contact Karen in our office at Karen@RozStrategies.com. If you want information about either purchasing the Client Care Package or becoming a member of the Audit Protection Network , contact John at John@RozStrategies.com or call him at 818.973.2732.
At the last Platinum Mastermind , members had a little fun after a day of working on their businesses!
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Congratulations to No. 1 international bestselling author Antonio Nava for the release of his new book, “Unlimited Options: How to Solve Your IRS Problems Without Losing Everything.”What a wonderful accomplishment! Kudos to Joe Aguilar for selling his tax prep business and focusing strictly on tax resolution. Very exciting! High-five to Greg McCauley for signing six clients in two days with fees totaling $75,000. Way to go, Arthur Lee , for implementing his first case charging $5,000 down and $5,000 a month until the resolution is completed. Kudos to Joaquin Torres for retaining several new clients and closing $35,000 in fees in one week and for writing off $17,000 of tax debt for a client, with the potential to write off another $9,000! Congratulations, Guy Finocchiaro , for negotiating his client’s installment agreement to $86 a month on a tax debt of $96,000 and saving the client $86,000! High-five to Patrick Noone for signing a client for a $21,000-plus fee with a $7,000 retainer. Good insight for saying, “How long do you think that would take to make the same amount doing tax prep?” Kudos to Frances Tomes for retaining a client after 15 months of following up with newsletters, monthly calls, and informational packets and receiving a fee of $16,600! As the Roz Man says, “The money is in the follow-up!” Way to go, Beth Gray , for receiving her second referral from one CPA on her PTIN mailings. Keep sending out those referral letters! SHOUT
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The “What’s in It for Them?” philosophy permeates everything we do. For example, if I were to approach a potential joint venture partner, I wouldn’t lead with the question, “Hey, would you promote my webinar? I’ll give you a 50% split!” Instead, I’d start by asking if there was anything I could do to help them. If they shared an idea, then I would bring up the webinar. Joe Polish describes this difference as building a “connection” versus a “CONnection.” Connections are authentic relationships. CONnections are superficial, transactional, and unsatisfying relationships built on self- interest. Avoid them at all costs! I highly recommend taking this approach in your tax resolution business. Not only is it helpful in a networking setting, but it can also help you convert more prospects to clients. All you need to do is reframe your mindset. Next time a consultation pops up on your calendar, don’t go into it thinking, “Oh man, I hope this person becomes a paying client.” Instead, enter the room with the goal of helping that prospect as much as possible. Put your ego aside, show empathy, listen, and solve problems (tell them what you’re going to do, but not how you’re going to do it) with them collaboratively. If you build rapport and put the prospect’s needs first, they’ll be much more likely to trust and hire you. I got so much value out of “What’s in It for Them?” that Roslyn and I have purchased copies for all of our Founder’s Mastermind and Platinum Mastermind members. If you are a Mastermind member, keep an eye on your mailbox for your book! If you’re not a member of one of those Masterminds, I still have good news: You can find “What’s in It for Them?” today on Amazon or GeniusNetwork. com and access all of Joe’s wisdom that way. I hope you take his advice to heart and change your approach to business. You’ll form deeper relationships, convert more prospects to clients, and
It’s great to see Roz Strategies Members meeting up with each other in other places. Thanks for sharing your pictures!
Saadai Douglas, Yvette Best, Peter Marchiano, and Melinda Tolbert at the ASTPS Super Conference, Orlando
Crystal Cavanaugh and our own John Israelian with a Roz Strategies booth at the ASTPS Super Conference in Orlando
find more meaning in your work. There’s no better way to start a new year. –Michael Rozbruch
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High-five to Daniel Cotts for signing two new clients in five days. Kudos to Mark Miller for retaining his first resolution client. Congrats to Smiley Nelson for retaining a new client. Way to go, Brian Brady , for taking steps to scrap your bookkeeping practice to focus solely on tax resolution. Thanks for sharing that, as a result of following the strategies from the Tax Resolution Domination System and Toolkit, you’re seeing your tax resolution practice take off! Keep up the good work! High-five to both Annette Hamilton and Teresa Almanza’s daughter for passing all three EA exams and becoming enrolled agents. That’s quite an accomplishment. Kudos to Linda Nayder , Dianne Omokaro , Kimberly Edwards , and Joe Kent for mailing out your referral letters. High-five to Michele Newman and Dionne Cheshier for sending out your Tax Resolution Times newsletters. OUTS ! Do you have a story or picture to share with us about something you’ve implemented, a client you’ve helped with a tax problem, or anything else you’d like to share? If you do, email it to Info@RozStrategies.com, and we will give a Shout Out to you!
Happy Birthday to Our Members!
Joe Aguilar met up with Randall Brody in Las Vegas
John Israelian with Kris Evans at ASTPS Conference
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Inside This Issue
pg 1 ∙ How to Convert More Prospects to Clients
pg 2 ∙ Small Acts of Kindness Add Up
pg 3 ∙ How Much Should You Spend on Marketing?
pg 4 ∙ Platinum Mastermind Member Spotlight
pg 5 ∙ Check Your Mailbox for Your Plaque!
pg 6 ∙ Shout Outs!
pg 8 ∙ The IRS Owes Tyler Perry $9 Million
IRS Terror Tale of the Month The Case of the $9 Million Tax Refund
It’s not every day the IRS makes a mistake and has to refund someone $9 million, but last summer, film star Tyler Perry, who spoke at the 2022 Earn Your Leisure Conference, revealed this massive IRS mistake. According to Perry, years ago, an overzealous IRS agent insisted on auditing his bank accounts. The agent put every penny of Perry’s income from acting, writing, directing, and performing comedy shows under the microscope. “So, this audit went on for three years. I’m spending hundreds of thousands of dollars in accounting with accountants for the audit, and I am getting so mad, and so frustrated. We [got] to the end of the audit and they, the IRS, owed me $9 million,” Perry said. According to Black Enterprise magazine, Perry was able to replace the fanatical IRS agent with a superior. Ultimately, Perry learned a lot from that IRS fumble. He cashed his $9 million check and took care to never overpay the agency again.
Perry’s team of accountants were thrilled at the outcome, but Perry had second thoughts and wondered how they messed up so much that he overpaid
the IRS by $9 million. So, he fired them. “Everybody gone! I had to stop going to H&R Block for my taxes at some point,” he joked with the audience.
Perry also got a little more serious and said, “Listen to me: In business, it’s okay to make mistakes. It’s okay to learn. You have to learn, but don’t let it keep happening over and over again … That’s how I run my business. Here’s the mistake. Let’s fix it; let’s move forward,” he said.
Considering Perry’s net worth is hovering between $800 million and $1 billion, his advice is definitely worth taking!
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