The #1 Tax Mistake That Bankrupts Entrepreneurs—Claudia Moncarz Explains How to Avoid It

Summary

---

The Level Up Podcast w/ Paul Alex

Episode: The #1 Tax Mistake That Bankrupts Entrepreneurs—Claudia Moncarz Explains How to Avoid It

Date: September 30, 2025
Host: Paul Alex Espinoza
Guest: Claudia Moncarz, Tax Attorney

---

Overview

In this episode, Paul Alex welcomes his personal tax attorney, Claudia Moncarz, to shed crucial light on the biggest tax mistake that bankrupts entrepreneurs and how to avoid it. The conversation dives deep into Claudia’s background, common tax traps, practical tax-saving and compliance strategies for entrepreneurs, the emotional and psychological barriers business owners face, and actionable guidance for those at every stage of the entrepreneurial journey—especially for immigrants and the Latin community.

---

Key Discussion Points & Insights

1. Claudia’s Journey: From Panama to Tax Law Powerhouse

[02:37–08:54]

• Claudia’s family only valued three career options: doctor, lawyer, or engineer. She ultimately chose law to help her community, but didn’t know at first which type of law until she discovered her love for tax law in school.
• Claudia is a proud Latina who immigrated from Panama, studied English Literature, and then obtained her law and tax degrees in Florida.
• Notable Quote:
  "I think more of myself as a business owner more than a lawyer that happens to own a law firm." — Claudia [03:24]
• Claudia credits her success to valuing self-education, delegating, and hiring experts for her own business (like bookkeepers and CPAs), underscoring that time is a limited resource for entrepreneurs.

2. Breaking Generational and Community Money Beliefs

[01:59–12:22]

• The hosts highlight limiting beliefs surrounding money and entrepreneurship in Latin and immigrant communities—especially around choosing “secure” jobs over building businesses.
• Claudia reflects on being surrounded by professionals but few business owners, and realizing she inherited limiting beliefs about business success from her environment and family.
• Memorable Moment:
  "Our money stories…stop a lot of us." — Claudia [02:27] "Did you have naysayers when you wanted to be a business owner?" — Paul [10:37]

3. The Power and Challenge of Small Wins

[12:31–15:12]

• Paul and Claudia discuss the critical importance of small wins, gratitude, and celebrating progress—even for seasoned entrepreneurs.
• Claudia shares her practice of daily journaling and win-tracking, emphasizing mindset’s role in business survival and growth.
• Notable Quote:
  "It's not hard starting a business. The hard part is staying in." — Claudia [13:57]
• Both agree on the importance of reflecting on past wins when facing new challenges—especially as perfectionism and fear of mistakes can paralyze lawyers, first responders, and business owners alike.

4. The #1 Tax Mistake: Bad Record-Keeping

[26:32–28:08]

• The #1 Tax Mistake: Poor or nonexistent records—failure to track income, expenses, and keep organized receipts. Most tax/IRS problems originate here.
• "Having bad records. Having barely any records…At the end of the day, for your tax returns, you have to have where you spend, what money came in, what money came out, and where you spent it." — Claudia [26:32]
• Claudia urges listeners to implement systems (apps, software, professional bookkeepers/CPAs) early, as fixing financial chaos later is much more expensive.
• Memorable Segment:
  Claudia shares downloadable mistakes, including how even experts (herself included) can slip up and why outsourcing is vital. [17:33]

5. Critical Mindset Shifts for Longevity and Growth

[22:04–24:08]

• Claudia names "getting out of my own way" as the hardest lesson—recognizing that subconscious beliefs from childhood, culture, and environment manifest as limiting behavior in business.
• "People don’t want to be responsible. It is really hard to say, I own this decision." — Claudia [23:24]
• Paul relates this to his experience as a detective—confidence and decision-making under pressure parallels entrepreneurship.

6. IRS Realities and Tax Horror Stories

[16:18–20:42]

• IRS persistence is relentless—opening 14 million new collection accounts last year alone is not an outlier.
• Most IRS problems are honest mistakes, NOT malicious evasion.
• Claudia shares stories of saving clients from disaster, including a drop shipping business hit with a million-dollar tax bill due to compliance errors.
• Quote: "The IRS is scary, but they have rules…You have rights. They have to follow procedure." — Claudia [20:13]

7. Proactive Tax Strategy for Entrepreneurs & Side-Hustlers

[28:08–32:09]

• Claudia describes critical proactive steps for entrepreneurs/new side-hustlers:
  • File the right business entity (LLC, S-Corp, etc.) as soon as viable.
  • Start saving 10–15% of your pay for future taxes.
  • Use tools/apps to track mileage, receipts, and expenses.
  • Don’t wait until you’re “making a lot” to get organized; correction is costlier later.
• Advice for W-2s transitioning to 1099/entrepreneurial income: save for self-employment taxes.
• "If you get a check, send 10-15% to the IRS…You won’t be able to take out that money, but you’ll be better off come tax season." — Claudia [29:49]

8. Tax Attorney vs. CPA: When to Hire Whom

[30:14–31:50]

• CPA vs. Tax Attorney:
  • CPAs prepare returns and advise on financial planning.
  • Tax Attorneys provide legal strategy, can draft legal docs, and, crucially, have attorney-client privilege: “I’m your rabbi, your priest, your journal, your secret diary all rolled into one—they can’t make me talk.”
• Hire a tax attorney for:
  • Structuring your company and partnership agreements
  • IRS audits & negotiations (attorney works as your buffer; IRS cannot talk to you directly)
  • When you need confidentiality and complex legal advice

9. Potential Disasters: When Ignoring the IRS Gets Ugly

[32:48–34:30]

• Biggest Mistake: Ignoring IRS letters or problems.
• Consequences include frozen bank accounts, garnished wages, loss of business licenses, even revoked passports.
• "Never go talk to the IRS without a game plan—they’re a collection agency, not your advocate." — Claudia [33:56]
• Notable Client Story: Claudia’s client living abroad was unable to return to the U.S. due to an unknown IRS passport revocation. [33:18]

10. Building a Legacy and Empowering Others—Especially Women & Latinas

[45:28–47:09]

• Claudia’s legacy goal is to empower women—especially Latina immigrants—to own their power, let go of “meekness,” and step confidently into business and leadership, regardless of language or cultural barriers.
• Notable Quote:
  “Your biggest power is just being you…If you were awesome over there, you’re going to be awesome over here.” — Claudia [46:23]

---

Notable Quotes & Memorable Moments

• On Community & Limiting Beliefs:
  "Our money stories…stop a lot of us." — Claudia [02:27]
• On Small Wins:
  "It's not hard starting a business. The hard part is staying in." — Claudia [13:57]
• On IRS Realities:
  "I joke that the IRS is my marketing partner. If you don’t hire me the first time, you’re just going to keep getting letters." — Claudia [16:18]
• On Ownership & Mindset:
  "People don’t want to be responsible. It is really hard to say, I own this decision." — Claudia [23:24]
• On Women’s Empowerment:
  “Your biggest power is just being you." — Claudia [46:23]
• On Learning, Mentorship, and Growth:
  "I believe in mentorships. I still have mentors…I love helping my team, giving them tools they need." — Claudia [41:31]

---

Timelines of Key Segments

• [00:00–04:02] — Intro, Claudia’s background, importance of financial protection for entrepreneurs
• [05:34–08:54] — Claudia’s career path; traditional family pressures and desire to help the community
• [12:31–15:12] — Importance of celebrating small wins and resilience in business
• [16:18–20:42] — IRS tactics, persistence, and real-life cautionary tales
• [22:04–24:08] — Breaking through internal/mental barriers to success
• [26:32–28:08] — The #1 tax mistake: bad record-keeping
• [28:08–32:09] — Structural and savings strategies for new and growing entrepreneurs
• [30:14–31:50] — Tax attorney vs. CPA; confidentiality & legal planning
• [32:48–34:30] — How small IRS issues can spiral out of control
• [38:27–41:31] — Family legacies, passing on business knowledge to children
• [45:28–47:09] — Claudia’s legacy: Empowering women and Latinas in business

---

Actionable Advice

• Level up your accounting and compliance as soon as you start to scale. Don’t wait for a crisis to get professional help—CPA/bookkeeper first, tax attorney as soon as you can.
• Track everything. Use apps to automate receipt, mileage, and expense tracking, and don’t toss correspondence from the IRS.
• If you get a notice or feel lost, open the letter and get help. Respond and seek legal counsel before acting—never ignore the “problem will go away.”
• Save for taxes proactively. As a 1099 or business earner, set aside at least 10–15% every check for taxes.
• Knowledge is power—seek mentors and consume reliable content. Constant learning, mentorship, and a strong team are core to sustainable success.

---

Where to Find Claudia

• Social Media:
  @AskTheTaxAttorney (YouTube, TikTok/X, Instagram, Twitter)
• Law Firm:
  Moncarz Law Firm (M O N C A R Z)

---

Closing Note:
Both Paul and Claudia emphasize that leveling up in business means building not just revenue but also robust legal and financial foundations. The biggest risk is waiting until a fire breaks out—so bring in the right professionals, master your money stories, and remember: "What you don’t know is what you don’t know. Learn, implement, and protect your legacy."

---

Transcript

[A]

Once you level up your income, please do yourself guys a favor and go ahead and get yourself a tax attorney.

[B]

I joke that the IRS is my marketing partner. If you don't hire me the first time, you're just gonna keep getting letters. Last year, the IRS opened 14 million new accounts. That's 11 million to 14 million people that have that problem every year. It is so common. It's just people don't talk about it. Ashamed of it. Especially business owners. How could I get into this trouble? I had this couple of clients that had a drop shipment business. Somebody told them they should have, like employees and then all of a sudden they got hit with a million dollars.

[A]

Hey, guys, and welcome back to the Level podcast. This is Paul Alex, and we have another exciting guest speaker here. She's actually my tax attorney. You guys are going to love this. Why? Because it is very important, guys. Number one, you guys protect yourself against the irs. When you start making a little bit of money, guys, they can literally bankrupt you if you don't do it correctly. So she is one of the most important people. She's an asset to my business, and it's going to soon be an asset to your business, especially when you guys are trying to level up in 2025 and beyond. I want to welcome Claudia to the show and to give you guys a little bit of background. Okay. She's a powerhouse attorney who has helped thousands of entrepreneurs, including myself, get clarity, confidence and protection from the irs. Claudia, a Latina attorney based out of Florida. Guys. Who turned her love for language and law into a career buil on helping small business owners just like myself. Guys. Take control of our finances. Her journey from Panama to Miami courtrooms to building one of the most respected tax law firms is nothing short of inspiring. So let's get into it. Claudia, welcome to the Level Up.

[B]

Thank you. Thank you for having me here.

[A]

No, no, this is, this is going to be a good time. So, Claudia, as you guys know, as you know, Claudia, level up is about self help. It's about helping people that, that have limiting beliefs, right?

[B]

Yes.

[A]

And you know, in the, in the Latin community, there's a lot of limiting beliefs out there. There's a lot, right? We have parents that are like, yo, you can't tell me anything, right? And I'm like, mom, I already built a couple of successful businesses. You know, I've done a couple cool things. I'm still your mother, Right. So at the end of the day, we're here to shift in the framework of how people perceive what they are capable of doing in life and a.

[B]

Lot of their money stories. I think that stops a lot of us. Our money stories.

[A]

Exactly. And we're going to talk about that. So tell us a little bit about yourself, and we'll take it from there.

[B]

Well, like you said, I was born in Panama, 100 Panamanian, you know, But I grew up here. My. My mom came when I was around second, third grade to study in Texas. And from there we, we. Oh, we've been able to always be. Kind of always been back and forth between Panama and the U.S. i was telling you a little, talking about our parents and the choice that we made growing up. He was in my family. Either you had to pick one of the three things that you could be a doctor, a lawyer, or an engineer.

[A]

Very traditional.

[B]

Yes, yes. You pick something else in my family, then, oh, my God, you're going to be a failure.

[A]

Yeah. They'll crucify you.

[B]

Yes.

[A]

And were you the only child?

[B]

I'm an only child.

[A]

Okay, so it was even worse for you. All eyes on you. All right.

[B]

I ended up doing law school because I guess since I was little, I was in. But what I really love about being a lawyer is the opportunity to help, especially help my community. Your community, our community, Latino community. And now I think more myself as a business owner more than a lawyer that happens to own a law firm. And I'm hearing thank you for the opportunity to give the knowledge. Because I always said knowledge is power.

[A]

Yeah.

[B]

That's how you get to where you want to go.

[A]

No, absolutely. And, you know, talking to you before the show, we talk about, you know, self education, being around the right people, the community. I mean, what you don't know is what you don't know, right?

[B]

Yeah.

[A]

And that's how I met you. I didn't. And guys, I'm telling you, back in 2021, back in California, when I made a little bit of money and it was the first year trying to pay Uncle Sam, man, Claudia was a lifesaver, guys. So I'm telling you, you know, once you level up your income, please do yourself guys a favor and go ahead and get yourself a tax attorney. Got Claudia right here. Okay, so.

[B]

No. Yes, definitely. I mean, I think we're like. One of my first expenses was getting myself a bookkeeper.

[A]

Yeah.

[B]

I know how to do it.

[A]

Yeah.

[B]

But I wasn't as efficient. I'm not as fast.

[A]

Yeah.

[B]

I even have my own cpa, even though I can do a tax return. You always. Because remember that time that you're taking to especially we're trained to be like dyis, like we can do everything, but your time is a limited resource.

[A]

That's the one valuable.

[B]

Yeah, that's the most. I, I care more about my time than anything else.

[A]

Yes.

[B]

And if you can get somebody that's probably. Is efficient, can do it better than you, then just hand it over to somebody else. Yes.

[A]

Delegate.

[B]

Do what you do best, what you shine at.

[A]

No, absolutely. And I, I 100% agree on that. You know, I'm. I'm a visionary guy. I'm a startup guy. You give me the ideas, we make it happen. Right. But other than that, I hire everybody. Everything else out, you know, logistics, finances, taxes. Right. So. All right, Claudia, so take us back to a time when you didn't know what path you were going to take. Now, I know your entire life you wanted to be an attorney, but did you know what type of attorney you wanted to be?

[B]

No, actually, I didn't. You know, I always wanted. I just knew I didn't want to do criminal law.

[A]

Okay, that's. Why is that? I mean, you're talking to a former executive. I mean, I'm just saying it wasn't that bad, you know?

[B]

No, no, I. Our family law, I just. Too emotional.

[A]

Okay, okay.

[B]

People in family law, they're emotional. In criminal law, I just, I felt bad. I felt bad for all, all the criminals. Sorry to say that. I felt bad for everybody.

[A]

Yeah, I mean, you know, don't do the crime, you know, the time.

[B]

Yeah. But the irony was that my first summer in law school, I clerked for a criminal judge, and he knew that I didn't want that. I didn't know what. I went to law school. I just didn't know what type of lawyer I was going to be. So he sent me to different divisions, and I was in probate, and I loved it. I'm like, oh, my God, that's what I'm going to do. I'm going to be a probate lawyer. And that's when people pass away, right? Like how to, like, marshal your assets. And I went back to law school, and I'm like, I'm gonna be a probate lawyer. They're like, oh, but you really didn't know about tax.

[A]

Right.

[B]

I'm like, okay, I'll take a tax class. If that's what you say, I have.

[A]

To change your life.

[B]

I loved it. It was the only class in law school that I actually understood it. Like, I could memorize. So I did well, because I can memorize. 1, 2, 3. I'll send it out.

[A]

And it was it. Because it intrigued you. You actually really liked it. You were passionate about it.

[B]

You know, most people think lawyers, and especially tax lawyers are not creative, but it actually. You get to be creative. You get to, like, okay, your client tells you this, where I want to get, and you figure out a path to get him there in a legal way and in the best way. So that's why I really loved it. And the irony is that my grandparents from maternal side are accountants, so.

[A]

Oh, that you said right in.

[B]

It was meant to be, even though I hated math.

[A]

It was meant to be. I mean, I like that. And the fact that they gave you the opportunity to go ahead and, like, actually experience that. When you went to law school, right. At what age did you go to law school?

[B]

I went straight after graduating from high school. I got my. My. I did my undergrad, which was English literature.

[A]

Wow.

[B]

So that was one where my mom called me when I was supposed to be a poli sci major, and I switched to English literature because I like books. She called me for a week because she thought I was going to end up, like, in south beach writing poems, and she was going to have to support me for the rest of my life.

[A]

I love that. Were you one of those kids that were like, go to the beach after school, or, like, you'll go hang out with the friends, go on the beach. I know. That was a very Miami thing to do.

[B]

No, I was a nerd. I love books. I love. You know, I was always a good kid, so that's good. I'm gonna own my. That I was a nerd when I was a kid. Frawley.

[A]

No, I love that. I love that. And, you know, my wife would say the same thing. She's like, babe, I'm a nerd. I was just like, no, you're not. And then I got to know her. I was like, yeah, you're a nerd, but I love you. It's okay.

[B]

And so, yeah, so. And after I went straight to law school, and then I stayed an extra year to get a master's in tax law. So I really like tax law.

[A]

I love that. I love that. And you're the best of the best, you know, and that's why we work together. So let me ask you this, okay. Might sound a little cliche since that you told everybody now on the show, okay, that you wanted to be a lawyer since you were a kid. Was that something that your mother, your father, your parents, like, ingrained in you, like, out of the wound? Like, were they Like, Claudia, you have to be attacked. You have to be a lawyer. Like, like, what was it? It was just those three. I know, I know. They were very traditional, right?

[B]

Yeah, Well, I don't. I think it's more like it was like an indirect message in my family. Like, either you have to be one of those three, or if I think I had an uncle that he studied music and everybody thought he was going to end up doing nothing. So it was just one of those. But the irony is that in Panama, because you go like in most Latin American countries, you go straight. You don't do it in undergrad, you go straight to law school, and then you go get your LLM because that's like grad school. Right?

[A]

Right.

[B]

So here, here in, in the US Going to law school is grad school, but not. So I think that was interesting when I was finishing, close to finishing law school. Like, so what is your LLM? I'm like, I already went to grad school. What are you talking about?

[A]

Yeah.

[B]

So I guess end up getting that LLM was part of like, well, you need something else.

[A]

Yeah.

[B]

But the interesting thing is that most of my family, they are professionals. They are like either a doctor, like you said, but not a lot of them are business owners. So that was an interesting change. And talking about. And even my dad, he's a doctor, but he's tried a lot of businesses that have failed. And now I notice after we talked about taking a lot of doing it out of self reflection. Yeah. And just learning about your mindset and your levels. I think just my dad had those levels because he grew up very poor, my dad, and then I think he became a doctor and then he want. He's always tried so many businesses that never worked. You name it, I can tell you. But I think that was interesting. And I said in myself, I said like, when I decided to become a business owner, then it was just I realized I had some limited beliefs because I didn't have that around me. I don't have business owners around me. They're all professionals, total environment. Yes.

[A]

Right. And I'm pretty sure. Did you tell any friends or did you have any naysayers or haters around you during the time where you were like, hey, I want to be a business owner.

[B]

I probably have as much because I started when my, when I had my first child. And I think a lot of people like, oh, she's slowing down because she's. She wants to be a mommy.

[A]

So they were doubting you.

[B]

Yeah. So they just thought I was just Slowing down because I was going to be a mommy. I'm like, you know, and my husband was like, oh, you can do this on your own, and we'll be okay if you make. Not make money. So it was not.

[A]

So you had the support of your husband.

[B]

Yes, but I think that's powerful. Yes. I think that's very important, especially as a woman. I mean, it is hard to find a man that. I mean, my husband's an attorney, so. But still, he always, like, supports everything. All the crazy schemes I come up with.

[A]

And what's his name?

[B]

Philippe.

[A]

Philippe. Shout out to Philippe if you're watching. All right, my man, you're a good dude. And just a comment. Okay. I like the fact that you guys have a traditional marriage where the husband supports the wife. And he was just like, hey, you know what? I'm gonna let you go ahead and chase your dreams. I think that's powerful, you know?

[B]

Yeah, he's always been a great.

[A]

And now with social media, you don't see that much. You know, you got the men and the women that are trying to find, you know, their. Their significant other, now they're like, no, you gotta go 50%. Oh, no, no, no. The man has to take care. The woman has to take care. They can't make a decision. You know, what happens to traditional values, Claudia? You know, and.

[B]

Well, you know, I still think it's a 50, 50 partnership, but it does. Is really nice, especially as a woman, that when you're always. You have your business, you have to take care of everything. It's nice to come home and have somebody take care of you. Maybe it's not the. The cool thing to say, but it is. And it's nice to have partner. It's nice somebody to support you.

[A]

Yes, yeah, yes. Very important. Very important. Right. So let's shift gears now. Okay. Talk about small wins.

[B]

Okay.

[A]

All right. I'm a big believer in small wins. I've done a couple of portfolio companies. I've. We've have been able to go ahead and become the number one podcast within a short amount of time thanks to Emilio behind the scenes doing his thing. Nice hoodie, bro. Nice hoodie. But. But the main thing is, you know, a lot of people are like, dude, how did you scale it so fast? I was like, what do you mean? I just put in the work. Right?

[B]

Yeah.

[A]

So I don't. I don't reflect as much. As much as I tell people to reflect on their small wins and their environment and. And all important is sometimes I forget myself. Right. I Need to take my own advice. But let's talk about your small wins. Okay. Because I think it's very important.

[B]

Yeah.

[A]

Right. And a lot of people that are watching, they're trying to get that very first win so then they could come out of their living beliefs that it's going to work for them. Right.

[B]

You know, it's interesting because I actually, I journal us sometimes. I go find my journals and things like that. And it's interesting to see when my. When I was just like, if I could just make 100,000, that would be awesome.

[A]

If I could just. Right. Yeah.

[B]

And now when you're like, oh, I was just finishing, like looking at my books.

[A]

I did quite well.

[B]

Yeah. That. When. Things like that. So, yeah. Small wins or even just like getting. And like you said, we don't remember. Actually something that a coach of mine, a mentor told me to do was to like every night just kind of like keep a tab of everything. Like three wins that you have for the day.

[A]

Yeah.

[B]

And when are you not feeling great? You go back to that list because should be a running list. And then you realize, oh, I did. I mean, it's just. Because we talked about being in business is really. It's not hard starting a business. The hard part is staying in. And you know, because. Yes, it's ups and down. It's not a linear thing.

[A]

Seasons.

[B]

Yeah. There's gonna be. And you're gonna make mistakes and it's okay because you learn from them. Mistakes are awesome. And you know, that's hard for a lawyer to learn that because in law school they teach you not to be wrong. Wrong has big consequences. So that was something to unlearn. But I. I think just even that's a win for me to learn how to run a business, to learn how to every. All those are to me are our wins.

[A]

Well, I believe you humanized your profession by just saying that sentence. You know, in law school, they taught you to not make a mistake, that you're set to a higher standard. Right?

[B]

Yes.

[A]

Very similar to first responder. Right?

[B]

Yes.

[A]

They're like, hey, you set to a higher standard, you have to appear a certain way, you have to dress a certain way, you have to talk a certain way. You cannot do X, Y and Z. Which is why I wasn't on social media for eight years. Right. Because I didn't want to a chance of something ruining my career.

[B]

Yeah.

[A]

So you humanized it by going ahead and saying, it's okay to make a mistake. It's okay that I don't know Everything. And that's why we click. Because when I was talking to you before the podcast, I said, I'm not the smartest person in the world. I'm a visionary. I'm a startup guy. But if I don't know something about Texas, I'm going to find the right person.

[B]

But you don't want to be the smartest person in the room.

[A]

You don't.

[B]

I want to be in the room where I'm not the smartest person.

[A]

Exactly. And that's how you level up fast.

[B]

Yes.

[A]

That is actually the cheat code to success. And a lot of people now have access with social media. Right after this podcast, you're going to tell people, obviously, where to find you. And for everyone listening, we have 100,000 downloads a day. We have millions of people that listen to this podcast, guys. And because of you, we're number one in business. But what I would recommend for every single one of you guys is to actually reach out to Claudia if you do have a business or you're thinking about going in business because you don't want to be in debt to the irs. Guys. This is not fun. I've learned a big, big mistake when it comes to taxes. IRS and all that jazz. And. Yeah. It's a lesson learned.

[B]

And they're persistent. You know, I joke that the IRS is my marketing partner.

[A]

Yeah.

[B]

Because if you don't hire me the first time, you're just gonna keep getting letters, and eventually you're gonna have to. I joke that, but, you know, if you read their mission statement, it is to get the. I'm paraphrasing this. The fat. The most amount of money in the fastest amount of time.

[A]

Yeah.

[B]

And there are persistency. And I really.

[A]

And they are.

[B]

And I've been practicing for about 20 years. And out of those 20 years, only one time did I have somebody that got in trouble because they actually made a mistake. They didn't know. They chose to, like, hide their money. Everybody else is a mistake.

[A]

Yeah.

[B]

Like this year, the IRS. Last year, the IRS Open, I want to say, like, 14 million new accounts for, like, for past collections accounts.

[A]

Wow.

[B]

And that's up from usually 11 million. So that's 11 million to 14 million people that have that problem every year. It is so common.

[A]

Yeah.

[B]

It's just people don't talk about it. They're ashamed of it. They feel bad, especially business owners. How could I get into this trouble? How did I not plan for this? But it happens to everybody. I've made mistakes where I made. I made mistakes. And tax Mistakes that I had to get a friend of help to help me fix it.

[A]

Yeah.

[B]

And I do this for a living. And my first year, for my first year actually done about mistakes. My first year I went up tax plan my own business. So I set myself to be an S corp. But I couldn't give myself a salary every year, every month because I just couldn't was my first month and then I get a letter from the department of revenue from Florida. You haven't paid unemployment. Why you always all these penalties like oh my God, I couldn't fix. I tried to explain to them I actually had a friend that helped me fix it. And I do this for a living. So if I can make a mistake anybody else especially when you're in business, you have so many hatsy. You know, you're the marketing department, your sales department, your accounting, your everything. Especially the beginning. It's just good to just get help.

[A]

No, absolutely. Absolutely. And what you don't know is what you don't know. You know, I'm a big believer in self education. I'm a big believer in investing to get to my goals faster.

[B]

Yes, we talked about it. I, I pay for speed.

[A]

Yeah, me too. Success, love speed guys, if you didn't already. All right, Claudia, so let's go ahead and talk about your clients. Let's talk about their wins. I'm a big believer in sharing transformations. Okay, do you have a story of a specific client you don't have to drop no names but a specific client where you helped them and you're like wow, I'll never forget the situation.

[B]

Yeah. I mean it's just really exciting. You know, I had clients where their business they can't have any tax debt because they take loans for their business. And that hits a hit if it's in your report. So just negotiating that or when they, the IRS took away their, their money for payroll, they froze their account and that was their money for the payroll or to pay a vendor and getting that cleaned up or actually something that, that people get they can, you know, scam. And I had this couple of clients that, that they had a drop shipment business but somebody told them they should have fake employees and for the some, some erc. And then all of a sudden they got hit with a million dollar.

[A]

Wow.

[B]

A tax liability. But it wasn't really real money. It was just they're a tax accountant account. They had made up some things there. So to be able to fix it, get all that wiped out. That was pretty cool.

[A]

Yeah, no, that is pretty cool. Guys how many of you guys would want to build a highly successful company and then come to find out one day you're like, yo, a million dollars in taxes and you don't got it. And liquid. Right? And then Claudia comes to save the day. Right? That's. That's what Claudia does.

[B]

And. Because, you know, what people don't know is that, yes, the IRS is scary, but they have rules. They have rules that they have to abide by. And it's not. You only get this letter says, oh, you have 30 days to pay, but there's other options, and people know about it. And. And that's what. And thank you for this opportunity, because that's what I love to be able to tell them. No, you have options to. There's like, at least at the top of my head, 10 different things that you can do. It's just about, you know, actually opening the letter, because a lot of people don't even open the letter. So step one is open your letter.

[A]

You think it's going to go away because you haven't opened the letter?

[B]

It won't.

[A]

It's not going to go away now. It's waiting.

[B]

I have a few clients that come in with a stack of an appealing. Because you have rights. You actually have a Bill of rights, just like there's a bill of Right in the Constitution. You have, like, a Bill of rights. A taxpayer. And you have. They have to follow procedure. They have a manual. Most people don't know about it. And. And that's where you can find all the information and you can. You can just get things done.

[A]

Yeah. No. Yeah. And you know the rules. You know the rules. You know how to play around with the rules, and you can make it happen for people that are not educated in this, so.

[B]

Because they don't have to. It's my job. You go do whatever you want to. Makes you shine.

[A]

Yeah. And guys, you know, I'm not trying to pitch, you know, Claudia services, but I mean, your. Your pricing is very reasonable for what you do. You know, you're helping people save a ton of money. You're helping educate people. You've educated me a whole lot. You educated my cfo, my COO for my companies. I mean, it's just been amazing. So let me ask you this. Let's talk about roadblocks, okay? Because there's seasons in life, as we know, right? What's been the hardest lesson you've learned as not only a business owner and not just a lawyer, in combination of everything that you've been doing, helping Entrepreneurs being a mom. You know, what is the hardest lesson you can say you learned?

[B]

Getting out of my own way. I think I am my biggest limit. And whenever I are, you know, in whether it's in an. Even in parenting, anything, just when I get out of my own way, then I can get where I want to go.

[A]

So let's talk about that. Why do you get in your own way?

[B]

I think it's a combination of, you know, you. You know, stories that you're told when you're a kid and things that. Not necessarily story form, but, you know, things here that just become like background noise in your. In. In your. In your conscious, you know, that's. We were talking about being parents. That. That's why it's so important. I always think twice about what I say with my kids. I don't want it when they're like adults having that tape running there. We get a lot from our parents and them just. And. And then we get out from our environment. Like I said when I went to law school, I learned them making mistakes, which is not acceptable. You can be wrong, but that's bad as a business owner. So I, I think that's just in. In. It's a lot of his subconscious. And unless you're willing to, like, go in, dig there and. And see the nasty things that we're not willing. A lot of people prefer to be told what to do than to take ownership and do the. What they know. They make a decision. Because when you make a decision, you're responsible.

[A]

Yeah.

[B]

And people don't want to be responsible. It's easier not to take responsibility. It is really hard to say, I own this decision.

[A]

Well, people don't want to take ownership.

[B]

Yes, yes, yes.

[A]

It comes down to extreme ownership.

[B]

Yeah, right.

[A]

It's just like, hey, whether I'm right or. Or wrong, I'm gonna make a decision.

[B]

But you're always gonna be right because you're gonna be making a decision based on the facts that you have at that moment. We don't have crystal balls. We don't have a time machine. So you, for the most part, are going to make a decision based on why you have that. So it was the right decision for that moment.

[A]

Correct.

[B]

And that's what you have to remember.

[A]

Intention.

[B]

Yes. At that moment, it was.

[A]

I love that.

[B]

And most people are not willing to do that. It's scary. But once you start doing it, it's just not scary.

[A]

Well, experience, environment. You know, if you have parents that pushed you to be a lawyer and, you know, you had Mentees that were successful lawyers and, you know, your circle, you're going to be more confident to make those type of decisions, right? Just like when I told you I didn't build myself as a leader or even a decision maker until I was a police, right? Because then I put the big boy pants on, and I had to make decisions that had involved people's life.

[B]

And.

[A]

And I had to learn very quick. You know, I remember very first time I had to do a speech in front of 100 cops, right? I had to do ops plan, operations plan for raid we were gonna do. And I was a very young detective two years in. And I remember holding that piece of paper in my face so people don't see my face. Cause I was red. And I was very introverted. I was shy. And I was like, all right, guys, so today we're gonna go raid this guy. They call him El Chapo. And then they're like, speak up. Like, they were just making it worse. And they knew I was new. They knew that. And I remember my sergeant, Sergeant Mora, shout out to Gus. Love you, dude. He was one of my really, really, really best mentors I had in law enforcement. But he was very nurturing. He was such a nurturing supervisor. He sat me down. He's like, dude, people are going to respect you based on perception of how you speak. The. Yeah, people when they first go ahead and they don't know you, and let's say you're doing a speech in front of anybody, you got to go in there and own it. You got to have the level of confidence, even if you don't know the answer, see something, and guess what, you can always go back and fix it. It's about the intention of what you have in front of you. So I love that I'm talking to a lawyer because he takes me back when I go to court, right? Whenever I go to court, guys. I mean, I was a cop for seven years, did a lot of cases, did a lot of good work, met so many great lawyers. And I know, hey, based on the evidence I have in front of me, this is what I got. Judge.

[B]

Yeah.

[A]

The judge is like, okay, I deem that acceptable. Let's do it right. So I love that, Claudia. That's awesome. So let's talk about your expertise. Let's break down what you know. You've been in a tax attorney now for the past 20 years. You are what we consider an expert. So what's the biggest tax mistake most small business owners make?

[B]

Having bad records. Having barely any records. You Know.

[A]

What do you mean by records?

[B]

At the end of the day, you always have. For your tax returns, you have to have where you spend what money came in, what money came out, and where you spend it. Right. So you can get out your profit. It's an easy formula.

[A]

So the numbers.

[B]

Yeah, income, but it's just not knowing your numbers. Yes, you need to know your numbers so you have your Runway and to make decisions. But just because if you're going to have an audit, you know, like, where are your receipts? Where are you? It's not like coming to your. Or do you. Are you keeping records? Don't do it at the last minute or people going with a box or things. It's fine that you did, but now you need to, you know, level up. You know, the big boy thing. And, you know, be serious. Take your business.

[A]

Be more organized. Yes, be more organized. Have a system maybe similar to like a CRM, customer relationship management system, guys, where you can file.

[B]

And others. There's. I mean, like, people like, if you're. If you're deducting mileage, there's an app for that. And now there's apps like you can take the receipt and everything. Because you may have an audit.

[A]

Yeah.

[B]

But if you have all the paperwork, it's Right. The other thing is the. A lot of Just not. You necessarily need to have the right structure at the beginning. You. I understand at the beginning, when I start, I may not want to spend like a few thousand on an lawyer, but, you know, kind of know where you're going. At a certain point, you need to start, like maybe doing the llc, maybe doing that. And it's easier if you start in the right path. Then you're already making a lot of money, and then people have to fix it for you. Cost more money to fix it. It does start.

[A]

It does.

[B]

It costs more money.

[A]

But I think most people, they don't realize that in the very beginning, like me, I'm gonna. I'll be honest, guys. I'll be transparent with you. I didn't know what I was doing with my taxes and all that jazz. Once you start making a little bit of money, right. I've always made a range, and I'm not going to disclose that range, but I always made a range for majority of my life. And then, you know, the last seven years, guys, I've made quite a bit more money now. And the first couple years, I was.

[B]

Just like, well, but, you know, what was the issue? Probably because you went from being a W2 to being a 1099. That is true. And that's the other, I guess that remind the other big issues. Put money aside for the irs.

[A]

Correct. Because you're not deducted.

[B]

No.

[A]

Yeah.

[B]

So I always tell people like either you can send 15 every time you get a come, especially when you're like a 1099, you're self employed and you're growing. Yeah.

[A]

You're making your income. Yeah.

[B]

Send 15. Because technically every quarter you're supposed to send to the irs. You know, your, your estimated taxes kind of like what they were holding. People don't do that. I understand. But if you're doing it properly. So either every paycheck, send them every. Every pay that you get paid, or put a bank account and be very, very, very.

[A]

It's hard for people to touch it. It's hard for people.

[B]

So if it's hard for you, then just send it. The IRS will take your money early. They don't care.

[A]

I gotta, I gotta, I gotta have you. I don't know if you brought business cards with you, but I mean I probably got like seven employees in this building right now where they're all between the age of 19, 25. And I know for them saving money. They don't even know that word. Right. So. So I think talking to you, giving the business cards and having a close situation with you, they need that. They need that. Because I know a lot of them, they come to me, they're like, dude, you know how much I owe in taxes? I was like, yeah, you should have saved, buddy.

[B]

Yeah. And that's why I say this is the, the hack. And maybe it's not the cleanest way is probably not the what is your CPA will tell you to. But just when you get a check to send 10, 15% to the IRS and eventually you're building up because they're not going to. You won't be able to take that money out of that bank account, but you're putting it in for your taxes for next year and that's the best way.

[A]

Well, that's something. And it's better than nothing.

[B]

Yes, something.

[A]

Right. And it'll at least reduce your tax what you owe and you'll be in a better place. Okay. And you'll think, Claudia. Okay. So Claudia, what's the difference between a tax attorney and a cpa? Okay. And when should someone hire you?

[B]

Well, the. I mean the difference between a tax attorney and cpa, and if you're thinking more of a not necessary tax preparer, like a tax planner, is that yes, both of them can Give you advice. Yes. On tax advice. Your attorney can draft legal documents, but more importantly, your attorney has attorney client privilege. They can't tell anything. I'm your rabbi, your priest, your pastor, your journal, your secret diary, all roll into one. Can tell me everything. I can say anything to it. But CPAs, if the IRS comes, they technically have to disclose stuff. Yeah, the IRS can't ask me anything because. Attorney.

[A]

Yeah, no, that, that. That's good. And then when should someone hire you.

[B]

If you're okay, if you're. There's different stages for an attorney. Right. You can hire attorney just to set you up, your company to like to have your operating. Your operating agreement when you're having a partner, because that's like a business marriage. So you have a business plan just like you like prenup. It's like you have prenup. You kind of have to. That's your operating agreement. That's your game plan.

[A]

Correct.

[B]

Right. Then also, if you want to structure, that's when you want to go your attorney. And nowadays there's a lot of content out there. Like, we put content. I put my team and I put content out to just explain what's going on. So at least you have knowledge what's going on and just don't be in the dark, I guess. Yeah, that's the main thing.

[A]

No, that's good. That's good. And that's moving the needle for a lot of people. So majority of our audience, they're either entrepreneurs or nine to fivers.

[B]

Yeah.

[A]

And nine to fivers that want to transition into the side hustle or they want to transition into being business owners. Right. So there's a lot of good information that they're going to get from this podcast.

[B]

And. Yeah. And especially if you have a side hustle, because you're definitely going to get hit with a problem because you're just thinking about your 10, you know, your W2, you're getting your thing and you're not thinking about putting some money away for the IRS and just planning and deductions that you can take.

[A]

Yeah.

[B]

That you don't even know about.

[A]

So many.

[B]

Yeah, yeah. You can rent your home to yourself.

[A]

Exactly, exactly. So, Claudia, what's one situation that with the IRS that can get really ugly? And we already talked about this, we sprinkled it a little bit. But what's one IRS situation that could get real ugly if someone ignores it?

[B]

Yes. So the worst thing that you can do with the IRS is not open those letters and ignore them, because you have rights. And the thing is that they have a roadmap. They're just going to escalate until they get you to. Because their whole goal is to get you to the table to talk to you.

[A]

Yeah.

[B]

And they can, they can freeze your bank account. They can call your employer or your vendors and then freeze. Get their money from there. They can revoke your passport. And this, especially here in South Florida, you know, and I actually had a client.

[A]

Huge.

[B]

I had a client in Israel that they revoke his passport. He didn't even know about it, but he's trying to come back. And he needs a passport. He needs a passport for his son, but he can't even get a password. His son until he's fixed his problem.

[A]

Wow.

[B]

Yeah. So, I mean, it can become problematic. Yeah.

[A]

It can make your life hard.

[B]

Yeah. And. Or if they freeze your payroll, I mean, freeze your bank account. That's payroll that's paying your vendors. How are you going to explain to your employees you have the money? How are you going to pay your groceries? I mean, they can, they can really make it very difficult if you don't come talk to them. But on the same token, never go talk to the IRS without a game plan.

[A]

Yeah.

[B]

Don't just pick up and call them because they're not your advocates. They're advocating for. Collecting is a collection agency. At the end of the day, is the biggest collection agency in the U.S. so they're, they're going to tell you this, this, that, but they're not there to advocate for you. So you really have to go find out what are your options. What, you know, painting, 30 days, a lump sum is one option, but it's not the only option. So find out what you can do so you can then go advocate for yourself. Don't. So have a game plan when you go talk to the irs. No. Always open that letter.

[A]

No, absolutely. So open the letter. Guys, don't. Don't ignore those warnings that you get from the irs because it could accumulate. It could go ahead and snowball, and then you have a bigger problem. Now you're facing a lot of stress.

[B]

Yeah.

[A]

A lot of unnecessary stress. So, Claudia, in your personal opinion. Okay, in your professional opinion as well, do you think it appears better when you do hire a tax attorney to go speak on your behalf?

[B]

Yes. The reason why is better is because then your tax attorney becomes the buffer. Is the buffer between you and the irs, because once you hire an attorney and once they file that POA power of attorney to speak on your behalf, the irs, the revenue, especially if you have A revenue agent assigned to it. They can't talk to the client.

[A]

Yeah.

[B]

They can't talk to you without your attorney. That's it. So that's it. You're not going to get any more. And plus, you're going to have somebody that knows that they do this every day. That's their 9 to 5. They know what they're doing. They know all the things. They know that maybe we do it this way or that way is better. It's just because at the end of the day, also the other person on the other side, the irs, they're just people. They're people that are overloaded with cases. And if I, for instance, I can be, you know, I can have a cool, calm conversation with them. Because it's not. It is. I care about my client, but it's not. I'm not the one. It's not my stress.

[A]

Yeah.

[B]

I care about my client, but it's not. Is when it's your personal thing, you get more emotional. Like when we buy our own personal home, we're emotional about it as opposed to when we go buy an investment.

[A]

Correct.

[B]

So I think that also gets. You have somebody that's more. Can be less emotional about it, more logical about it, more pragmatic. And also it's your buffer. And also they have all the experience. They seen things that, okay, maybe you can, you, you, you can't take it out of here, but take it out of there. And if we put. Then we reduce. Because at the end of the day, the formula also for the IRS is also easy formula. You have how much you made, your income minus the allowable deductions, because not everything's allowable. And then the profit, if you owe money to the irs, that profit, that net goes everything to them.

[A]

Yeah.

[B]

But you can play with how that net becomes. Because it's all about what's allowable deductions.

[A]

Correct.

[B]

So that's, that's why you want a professional with you.

[A]

I love that. I love that. It's, it's getting the best person to go into the game for you and execute. Right. And you're going in there with clarity. You're not going in there with emotions. And you're able to make the best decisions for your customers or your clients. And.

[B]

The other important thing is getting somebody the right attorney. You know, it's like you wouldn't want your dermatologist to do your heart surgery. Right. You go to, you go to heart surgery. So it's the same concept. Because I know that, yes, you, you a lot of people can do a lot. You know, anybody can do it, and maybe somebody and any other attorney or cp, but just get somebody that has that actual experience that actually does what they do.

[A]

Right? Yeah, yeah, right. And then also, and this is just a question, I know a lot of my. My guys here in the office, especially after the podcast, they're going to ask, they're gonna be like, well, Claudia is a tax attorney, but can she also connect me with a cpa? Because she also connect me with someone that can take care of my books and all that jazz. So do you have like the connections to go ahead and basically do like an all in one type of service thing?

[B]

Yeah, because actually we don't do returns in our firm. Okay. So. But so I have a lot of CPAs that I give, and that's also. Because that's a lot of my referral network. So I do work with a lot of CPAs.

[A]

Yeah. Different things, you know. You know, like, like something that I always say, guys, on the show, your network is your net worth. So, yeah, that's good. So you have the all in one. So we're able to hook people up with that. Okay, so let's get into family. Big, big, big believer in family, core values, traditional values. Guys, what does your family think about the life and firm that you've built?

[B]

You know, I'm. Like I said, I'm hoping, because I never had that growing up. I never saw a. Like a business owner. No. Right. And I think that gives you the most liberty, the most opportunity to scale. Like, if you own your own business, then I think sky's the limit in a way, and I'm happy to see it. My son is more of like, always trying to figure out how he can make money, what business is going to start. He always comes up with, mommy, I have this idea. And, you know, I'm always trying to impulse him and things like that. So that. That is kind of cool to see that.

[A]

That. That's pretty badass.

[B]

Yeah, yeah. That, that I. Because I didn't have that and I don't have family that owns businesses. So it's a new.

[A]

You're influencing him. Yeah, you're influencing him in a positive way. Because, you know, we talked about this before, and my mother, even up until the age I think of like 33, when I had one of my first companies go very well, she still had doubt. She still had doubt. And she was like, well, what if the company goes bankrupt one day? What happens with this?

[B]

And because of what does it take? That's running from what her mother told her. Her, her grandmother, her. It's just generational thinking that we have. You know, especially Latinos, they always like, you know, just, just work hard, put your head down, and then you'll be okay. And then you retire and you'll be fine. Just work hard, put your head down.

[A]

Be happy with what you have. Yeah. You know, there's so many other people that have it worse. Yes, you know, absolutely right. You know, that's one.

[B]

But why can't you ask for more?

[A]

Exactly. And you know what? I.

[B]

And then I can help those people that have more when I have more.

[A]

You know what I call that, Claudia? I call that the force of average. You know, my family, they ingrained the force of average. And not to talk bad about my family, I love my family. I take care of them. I'm a blood life breaker, just like you are too. But what I always tell is the people around you, if they're not doing better than you, if they're not in a place in life where you want to be at eventually. Why would you take advice from somebody? It doesn't matter if their parents, doesn't matter if they're your spouse, nobody.

[B]

That is so true.

[A]

It's so true.

[B]

No, you have to be so. You have to be so guarded. You have to be so guarded whose advice you take. Because sometimes people will give you advice. There's well meaning. Yeah, but if you haven't walked that path, you haven't done it. You cannot tell me about that.

[A]

Exactly.

[B]

With all due respect.

[A]

Exactly.

[B]

And it's hard for us.

[A]

Yes.

[B]

To like, not. And it's. And because it's well meaning. They give us advice because they love us, they care. But, but sometimes it's just that you. But they haven't had that experience. How can you give me advice on that?

[A]

You gotta, you gotta walk the walk.

[B]

Yeah.

[A]

And talk. To talk. You know, I just, I don't, I don't listen to people that just talk. I want to see action.

[B]

You know, and even people, I see action. People that have been through that journey, you know, like, oh, how do you open a business? How do you do it? I mean, like, you know, how to. Because it's different being entrepreneur than being a, A working BB and employee. There's different things that happen once you own the business.

[A]

Are you, you a big believer in mentorship?

[B]

Yes, I, you know, and learning. I still. Today I learned. I was telling you that I actually like. Less than a year ago, I got certified in being a money coach. Just because I wanted to learn more about the money mindset and things, what stops in my clients so I can help them better. Because I don't like having recurring clients that have problems with the Iris. Then I feel I didn't do my job well.

[A]

Right.

[B]

So I believe in mentorships. I still have mentors. I, you know, I have coaches. I mean, I wouldn't get to where I am, and I do that on. On the reverse. I love helping, you know, my team. You know, we have meetings and it's just not about, you know, I hope they stay with me forever, but if they don't, how can I make you better with tools you need. I. I get excited when they grow professionally, so.

[A]

So, yeah, it's very rewarding. It's very rewarding because at the end of the day, our why changes, right? I'm pretty sure the why when you were first a lawyer, when. When did you officially become an official tax attorney at wage.

[B]

I'm telling you, I did it all at high school, law school, and then the outline. Boom, boom, boom.

[A]

Yes. What age?

[B]

So 18 plus I did under a three, so six. And so 20. I had to be like 25, 24. 25.

[A]

Okay. So at 24, 25, do you still remember what your why was back then?

[B]

You know what, at that point, I just wanted to get a big, you know, be a partner in a big firm. That was my goal.

[A]

That was the goal. That was your why. And there's nothing wrong with that why. There's nothing wrong with that why? I always ask people, because the why changes. I'm pretty sure now you as a mom, being successful, being in the game for 20 years, your why is completely different now.

[B]

Yes. And, you know, and then I became a parent. I'm like, oh, my God, I want to stay with this little person all the time.

[A]

Yeah.

[B]

You know, so what's your why now? You know, I. My why now? I want to build something that I could help my community. You know, I'm a proud Latina and I just. I am so tired. Seem bad information or seen business not grow. You know, I was just telling you before, most Latino business are micro business. They don't make more than 100k and there's no reason why. Yeah, we are hardworking me. So that's my why. I want to build more business, more information. Just. And like I always say, knowledge is power. If you know the knowledge, then you can make a decision. It's not. You're not guessing here. Just make it, you know, make the best decision for you. At that moment with the information you have. So make sure you have the best information. That's all we can do.

[A]

And do you think it's because lack of knowledge why business owners make less than $100,000 in business?

[B]

Yes. They don't. It's the lack of knowledge. They don't have the information available. It's not lack of drive. It's not like a grid. I mean, it's just lack of knowledge they don't have. They don't know where they can get funding. They don't know. They don't. Or even just making a mistake in taxes. You don't know. Like, okay, you're so busy trying to make it happen. And, and it's a lot because you can't. You can be an expert in marketing, you cannot be an expert in sales, you cannot be an extra in finance.

[A]

That's a lot.

[B]

So, I mean, obviously you're gonna make a mistake and where people just drop the ball. And it's not because they mean to best, because it's. It's not what is important. It's not sexy. It's in taxes and the legal part, until a fire happens there, I'm like, oh my God, I should take him. But those are the first things that people drop the ball.

[A]

Yeah.

[B]

Because you need to make sales. So it's marketing and sales.

[A]

Cash flow.

[B]

Yeah. People worry about cash flow and how you get cash. Marketing and sales.

[A]

You gotta stay in business.

[B]

Yeah. You know, but you don't protect yourself. You don't make sure that you have.

[A]

Like your roof, your foundation. You gotta set the foundation which comes down to, you know, corporation, llc. Even the bank account. Yeah, certain bank account. Right.

[B]

Yeah.

[A]

You know, that's good. So with that being said, this is going to be the final question, but it's going to be a good one.

[B]

Okay.

[A]

Because you're talking to millions of people that are going to be listening to this podcast here in the next couple months. So what legacy are you trying to leave behind? Especially for women and Latinas in law.

[B]

The legacy is especially. And you know, I think as women we are so strong.

[A]

Yes.

[B]

And I think. But we're also thought to be meek sometimes. Be quiet. And your biggest power is just being you. And. And I would love that. I mean I learned that growing up even more. I think you see it more now. And it's just especially. And especially if you were not born here and you can't came here in the business. You even limited by the fact that you feel like you have an accent or you Maybe you're not fluent in the language. That's bs. If you were awesome over there, you're going to be awesome over here.

[A]

Going to crush it.

[B]

Yeah. So I think that's, I think, just owning our power as strong females. You're just going to shine and so exciting to see that.

[A]

I think with the type of mindset you have, you. I know you're a money coach, but you also need to be an empowerment coach, because a lot of people, like you said, they just want to follow directions. Yeah. So they have to stop start from start one. You know, the first win. That's why I was talking about wins. For a lot of people, even making a decision to get a mentor is their first win. So if they get the first one, you could be the first mentor. And then you show them how to lead. You show them how to use their special technique or what they know to empower them. Right. So just an idea.

[B]

Okay. I always like ideas.

[A]

It'll be good. Okay, so this is the final, final question. Okay, so this is the level up. We're here to level up. Okay, guys, we put our pride to the side to go ahead and level up, because what you don't know is what you don't know. Take it from me, guys, I've had to pay the IRS millions of dollars myself, and I could have saved a whole lot if I would have structured it properly. Okay? So don't make the same mistake that I did. It was a lesson learned, but it was an experience. Expensive lesson. Okay? So before you guys launch your dream venture, your dream life, life by design, we're gonna ask Claudia this one question. So here's your audience. Okay, it's gonna be cool. If someone listening today is scared of taxes, scared of opening a business, or just feels stuck. What would you tell them?

[B]

Just do it. But, but make sure that you also think about, you know, protecting yourself. Because, yes, you have. You have to have the long vision. Yes, we are here to open, make sure you got your first client, your first business, but you have to have the long visions. What's going to happen three months from now, three years from now? And that's why you want to look at your structure. Think about it. And now there's so many services out there that can help you that you don't necessarily need to go full blown to get an attorney. There's services that can kind of help you kind of do it with hand holding you down the road. And then, and now there's so much information out there that in many languages, too so that you can just, just have it in the back of your head. I understand sales and marketing is important, but so is the rest.

[A]

No, absolutely. You need the foundation, guys. And then Claudia, where can people find you?

[B]

My social media handle is Ask J the Tax Attorney.

[A]

I love it.

[B]

It's pretty easy. So in YouTube, Twitter, we have it everywhere. Tick Tock, you know, Oh, I guess it's X now. Tick Tock and Instagram.

[A]

So guys, so you guys can find Claudia at Ask the Tax Attorney on all social media platforms. And then what is the name of your law firm?

[B]

Monkers Law Firm.

[A]

There you go, guys.

[B]

No M, O, N, C A R Z. Monkers Law Firm.

[A]

And guys, if you guys have any questions, shoot. Our dm. She's pretty cool. She's done some cool stuff and she can help you save a lot of money when it comes to the irs. Okay, so set it up right, do it once and then you'll be set for life.

[B]

And if you have problems with the IRS also is like we thought there's 14 million people last year that open. Those are only the people that actually talk to the irs. So it is very common, is very easy and is the one thing that you can get rid of so you can get a better nice sleep and something less to worry about. Because we have a lot to worry about. As business owners. There's a lot of. I'm sure you. Your to do list is never ending. Mine is never ending. Everybody is.

[A]

Oh, every day.

[B]

Especially if you're scaling a business.

[A]

That's it. Gotta scale, right? We have to level up.

[B]

Yep.

[A]

I love it. Claudia. Guys, that is it. If you guys love this episode, drop a five star review on Spotify and anywhere else where we're broadcasting this podcast. Guys, we are currently ranked number one in business on Apple Podcasts and ranked top 15 in all categories. Get us up to top five guys. We love you guys. We wouldn't be here if it wasn't for you guys. Emilio says what's up? And that is it. Guys. I will catch you on the next one. Take care of. When the Moore family ditched cable Internet and switched to Zigly fiber, they got so much more. Mr. Moore got more upload speed for next level gaming and livestreaming to the masses with reliable service. Mrs. Moore is no longer her family's IT guru, leaving her more time to stream games into overtime. Let's go. And young Mason Moore got more done quickly uploading HD product demos and video conferencing without FreeSync.

[B]

The numbers look good, Brad.

[A]

You're on mute, Switch from cable Internet to Ziply Fiber and get more of what you love for $65 less per month than [e-mail].