Case Studies

How we helped a Business Start-up:

Jim R., a tax client and an employee of a large corporation wanted to work for himself.  Together we negotiated the purchase of a fast food franchise with minimum down.  We went over our checklist, registered with appropriate government agencies, got financing, and set up and kept his books.  After seven years, Mr. R sold his business at a 500 % return on his investment and retired. 

How We helped a taxpayer:

Janice received an IRS letter a couple of years ago showing a balance due of over $30,000.  We represented her before the IRS and got the amount down to less than $9,000.  

How we helped reduce business taxes:  

T and R had a good partnership but were paying too much tax.  We reviewd their situation, made suggestions, and modified their organization for a one time fee of $1,000.  They save $5,000 a year.

How we helped a business grow:  

H. and S. T. had started their business a year before and were having trouble with their cash flow.  We installed a computer, an accounts receivable and accounting system, and trained them on it.  Then their business grew 20% in a year. 

How we helped financial plan:  

Mr. A. was retiring from corporate life.  We reviewed his situation and goals, made tax suggestions saving $20,160, and made investment suggestions to provide a respectable income.  We did a similar service for Mell P. 

How we helped a corporation survive:  

Corporation M was assailed by a Department of Labor demand for $100,000 in back payroll, etc.  We were able to reduce this to $9,000 without going to court.

A sad story:   

J.M. came into our office for an income tax appointment.  He dumped a bunch of IRS letters on our desk.  In them was a "Notice of Deficiency" for $27,000.  Unfortunately, he had procrastinated too long and it was well past the ninety day period for us to appeal or petition the tax court.  There was nothing anyone could do and the IRS garnished his business assets.

Relief in the Great Recession:   

Corporation A suffered a retail sales tax audit and got a report showing a balance due of $40,000+.  We were able to find errors in the audit, appeal it, reduce the balance down to $10,000, and get a payment plan so the business could survive. 

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Halstead Carpenter and Assoc., Ltd., 1503 Plainfield Rd, Joliet, IL 60435
Phone: (815) 729-1900 | Fax: (815) 729-4055 | Email:
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