Join us on Average Joe Finances as our guest Carlos Samaniego, discusses his transformative journey from a young EMT making financial mistakes to becoming a tax debt consultant. Carlos recounts how bad advice led him to claim excessive tax exemptions, resulting in a significant IRS debt and years of unfiled taxes. This tumultuous experience inspired him to help others navigate tax issues, ultimately leading to the founding of his company, Tax Debt Consultants. Carlos shares valuable insights on dealing with IRS debt, the importance of immediate action, and the role of tax professionals in safeguarding against compounded interests and penalties.
In this episode:
- Learn how unresolved tax issues can snowball and why early intervention is key to minimizing damage.
- Discover the power of representation and how a tax professional can negotiate massive debt reductions.
- Grasp the importance of separating personal and business finances to stay organized and audit-ready.
- Understand why ignoring IRS letters only worsens your situation and how facing them can lead to relief.
- And so much more!
Key Moments:
01:35 Meet Carlos Samaniego: A Journey from Military to Tax Professional
02:12 The Tax Mistake That Changed Everything
04:00 The Road to Tax Debt Consultants
05:56 The Importance of Hiring a Tax Professional
10:33 Understanding Tax Problems and Resolutions
14:01 The IRS and COVID: A Collection Pause
15:32 The Consequences of Ignoring IRS Letters
19:06 Non-Filers: The IRS is Watching
23:25 Success Stories: From Massive Debt to Relief
27:32 Success Stories and Their Importance
28:23 The Offer in Compromise Program Explained
30:37 Negotiating with the IRS: Real-Life Examples
31:57 The Five-Year Probation Period
35:01 Choosing the Right Tax Professional
37:35 Final Round: Quick Fire Questions
44:55 Where to Find More Information
46:58 Closing Remarks and Thank You
Find Carlos Samaniego:
Speaker Website:https://carlossamaniego.com/
Company Website: https://www.taxdebtconsultant.com/
LinkedIn: https://www.linkedin.com/in/carlossamaniego/
Facebook:https://www.facebook.com/taxdebtconsultant/
Instagram: https://www.instagram.com/jcarlossamaniego/
X: https://x.com/carlossamaniego
Average Joe Finances®
All of our social media links and more: https://averagejoefinances.com/links
About Mike: https://mikecavaggioni.com
Show Notes add-on continued here: https://averagejoefinances.com/show-notes/
*DISCLAIMER* https://averagejoefinances.com/disclaimer
See our full episode transcripts here: https://podcast.averagejoefinances.com/episodes
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
CrimeLess: Hillbilly Heist
It’s 1996 in rural North Carolina, and an oddball crew makes history when they pull off America’s third largest cash heist. But it’s all downhill from there. Join host Johnny Knoxville as he unspools a wild and woolly tale about a group of regular ‘ol folks who risked it all for a chance at a better life. CrimeLess: Hillbilly Heist answers the question: what would you do with 17.3 million dollars? The answer includes diamond rings, mansions, velvet Elvis paintings, plus a run for the border, murder-for-hire-plots, and FBI busts.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com