Mike was introduced to the Business Owners Retirement Savings Account (BORSA) program by Mark. Mike decided to use BORSA to pay for the purchase of the business.
The Wagner’s were thrilled with the service they received from the CBI Team. Mr. Wagner said he wouldn’t change a thing about the process, and noted Mark did a great job in finding the right buyer in a reasonable time frame. Mr. Wagner then asked if he could be a reference for any future potential clients.
From our associate and friend Ted Smith CPA:
The IRS is warning people to beware of a new scam linked to the Electronic Federal Tax Payment System (EFTPS), where fraudsters call to demand an immediate tax payment through a prepaid debit card. This scam is being reported across the country, so taxpayers should be alert to the details.
In the latest twist, the scammer claims to be from the IRS and tells the victim about two certified letters purportedly sent to the taxpayer in the mail but returned as undeliverable. The scam artist then threatens arrest if a payment is not made through a prepaid debit card. The scammer also tells the victim that the card is linked to the EFTPS system when, in fact, it is entirely controlled by the scammer. The victim is also warned not to contact their tax preparer, an attorney or their local IRS office until after the tax payment is made.
“This is a new twist to an old scam,” said IRS Commissioner John Koskinen. “Just because tax season is over, scams and schemes do not take the summer off. People should stay vigilant against IRS impersonation scams. People should remember that the first contact they receive from IRS will not be through a random, threatening phone call.”
EFTPS is an automated system for paying federal taxes electronically using the Internet or by phone using the EFTPS Voice Response System. EFTPS is offered free by the U.S. Department of Treasury and does not require the purchase of a prepaid debit card. Since EFTPS is an automated system, taxpayers won’t receive a call from the IRS. In addition, taxpayers have several options for paying a real tax bill and are not required to use a specific one.
Tell Tale Signs of a Scam:
The IRS (and its authorized private collection agencies) will never:
For anyone who doesn’t owe taxes and has no reason to think they do:
For anyone who owes tax or thinks they do:
The IRS does not use email, text messages or social media to discuss personal tax issues, such as those involving bills or refunds. For more information, visit the “Tax Scams and Consumer Alerts” page on IRS.gov. Additional information about tax scams is available on IRS social media sites, including YouTube videos.
Will your business survive you?
That’s a question all business owners need to know the answer to as soon as possible…unless you don’t care. If you don’t care, stop reading this.
However, 25 years of experience has taught me that almost all business owners want their business to survive them.
We’ll be exploring some of the lessons I have learned working with business owners, most of whom have not done a good job of planning their business survival.
The CBI TEAM of Central Arkansas is proud to announce the sale of Altitude Trampoline Park of Little Rock to Mark and Deb McFatrdige.
The CBI TEAM was approached by Craig Noel, the local Altitude Trampoline owner and a member of the franchisor for Altitude, about representing their company in selling locations throughout the United States. Having successfully introduced multiple buyers to the opportunity, the time came for Craig to sell his wildly successful location in West Little Rock.
Senior Intermediary Shep Campbell and CBI Central Arkansas office owner Connor Grimes worked together in listing and selling the business. Within twelve hours of signing the engagement agreement the Central Arkansas CBI TEAM delivered a full price offer from Mr. and Mrs. McFatridge to Craig Noel.
Mark McFatridge is the former CEO of Bear State Bank who recently retired from banking. He and his wife Deb were interested in finding a business to buy that produced good cash flow and would be enjoyable to own. Altitude Trampoline was the right business for them.
The seller and buyer were introduced the very same day that the business was listed and the two immediately hit it off, developing goodwill between them from the start, ultimately leading to the transfer of ownership of the Little Rock trampoline park.
Altitude Trampoline is a franchise based out of Texas. Founded in 2012, they have quickly become the fastest selling trampoline park in the world with parks on three different continents and cities around the globe. To learn more, contact the CBI TEAM today.