What Is Tax Resolution And Other Niche Areas
[00:00:00] Tax resolution is promoted as an niche area for CPAs and enrolled agents. You mentioned this as a legal opportunity for legal niche practices last week? Anything other than criminal representations?
No. Tax resolution doesn't have to be criminal, tax resolution just basically means, if you owe a hundred thousand in taxes, and you can't pay it, then the IRS looks up payments and, you can work things out and you can negotiate it.
CPAs can do it. Attorneys can do it. It's not a great area. It can be a good area.
I remember when I was practicing law, there was a course on it that I took, just because it looked like an interesting area of the law where you could get business fairly easily.
You can basically buy lists of people that owe taxes and then you can send them letters and they can hire you and can be a good niche area, honestly. There's so many good tax resolutions. Trust in the states is a great one, immigration. There's so many different practice areas you can learn.
If you would like dealing with people that aren't paying their taxes or have tax problems in dealing with the IRS that obviously has this pluses and minuses, but there's a lot of very big people that use tax. Donald Trump probably uses a tax resolution type attorney.
It depends on what you want to do. [00:01:00] Basically, there's nothing illegal about it. For the most part, you're just working out payment plans. People are bankrupt, there's different states and stuff, helping them with their tax report. It's just one that you can learn.
The problem is, like anything, there are bad players in it. So, there are people that advertise on the radio and may not really be doing anything that good. So, you need to be careful, but you need to learn about all this stuff. You can take classes and all about this stuff, like you can take classes in person how to become a personal injury lawyer. There's classes about tax resolution. There's there's classes about immigration and trust in the states.
And so all these branches of law, there are people that have done it. And, in most cases, all of these practice areas, by the way, you can make much more than you would working for a law firm.
Remember, in a law firm, the law firm has to make money off of you and it has to pay overhead and all this sort of stuff.
if your goal is to make money you can do very well in all these practice areas, but you just need to become a student of the practice area and marketing. There's all sorts of online classes.