Allan Rolnick is the Founder and an Accountant at TriState Tax Resolution The Tax Rescue Squad LLC, a New York-based tax consulting firm helping individuals and small business owners resolve IRS and state tax issues. Since starting his practice in 1992, Allan has guided clients through complex tax challenges — including audits, levies, back taxes, wage garnishments, and tax liens — helping them regain financial stability and peace of mind. He is affiliated with leading professional organizations, including the New York State Society of CPAs, the American Society of Tax Problem Solvers, Tax Rep Network LLC, the American Society of Certified Tax Coaches, and the National Association of Tax Professionals.
Here’s a glimpse of what you’ll learn:
- [1:06] Allan Rolnick shares the story of his sister’s audit and what inspired him to specialize in tax resolution
- [4:05] How tax debt can affect personal life, marriage, and professional stability
- [5:30] Why people fall into tax trouble: overspending, lack of planning, ignoring IRS notices
- [6:48] What to do when facing significant tax debt
- [13:15] Challenges small businesses face, including payroll taxes, sales taxes, and escalating penalties
- [20:28] Allan’s thoughts on building relationships through podcasting and the value beyond just listener numbers
In this episode…
Taxes can be a complex and often overwhelming aspect of personal and business finances. Many entrepreneurs find themselves unsure of how to navigate IRS notices, manage debt, or plan for the future without feeling trapped. How can someone take control of their financial situation before it spirals out of hand?
Allan Rolnick, an expert in tax resolution and IRS negotiation, explains that facing tax challenges proactively is crucial. He emphasizes understanding your financial position, responding promptly to IRS notices, and considering professional guidance when debt exceeds $10,000. Allan also shares how strategic planning and managing living expenses can prevent future problems, helping individuals stay ahead of potential tax issues. By tackling these challenges systematically, you can minimize stress and protect your financial stability.
In this episode of The Tax Resolution Ninja Show, Allan Rolnick, Founder and an Accountant at TriState Tax Resolution The Tax Rescue Squad LLC, examines why addressing IRS issues promptly is essential. Allan shares how to navigate audits, explore payment plans, and prevent future tax debt. He also touches on small business tax pitfalls and the importance of education in financial planning.
Resources mentioned in this episode:
- Allan Rolnick on LinkedIn
- TriState Tax Resolution The Tax Rescue Squad LLC: Website | Phone Number: (718) 841-7317
- Chad Franzen on LinkedIn
- Rise25
Quotable Moments:
- “Respond, respond to the letter, or get somebody or get a professional to respond for you.”
- “Well, generally tax preparers don’t do this stuff.”
- “The IRS is not going to help you with your options; you need someone who knows the rules.”
- “Penalties and interest can double or triple what you originally owed, so settle as soon as possible.”
- “Never lie to the IRS. Respond to the letter or get a professional to respond for you.”
Action Steps:
- Respond promptly to IRS notices: Addressing letters quickly prevents penalties from escalating and keeps financial stress manageable.
- Hire a tax resolution professional when needed: Expert guidance ensures you understand your options and navigate complex IRS rules correctly.
- Prepare a detailed financial statement: Knowing your income, expenses, and assets helps identify the best strategy to resolve debt.
- Consider installment plans or offers in compromise: These options can reduce immediate financial burden and prevent collection actions.
- Plan and manage estimated taxes and living expenses: Strategic planning prevents future tax problems and promotes long-term financial stability.
Sponsor for this episode…
This episode is brought to you by TriState Tax Resolution The Tax Rescue Squad LLC, a tax resolution firm dedicated to helping individuals and small business owners overcome IRS problems and regain financial peace of mind.
Founded by tax professional Allan Rolnick, TriState Tax Resolution The Tax Rescue Squad LLC works with people facing complex tax challenges, including back taxes, IRS audits, wage garnishments, bank levies, and tax liens. Their mission is simple: to guide taxpayers through the often confusing IRS process and help them resolve their tax debt in the most effective way possible.
If you’re dealing with back taxes or IRS notices, you don’t have to handle it alone. Their team represents you directly with the IRS, giving you a clear path forward so you can get your financial life back on track.
To learn more or schedule a consultation, visit www.tristatetaxresolution.com or call 718-841-7317.
Powered by Rise25 Podcast Production Company
