EP489: My Story About Owing the IRS More Than $120,000 (and Why This Important Lesson Applies to You!)

Alex shares a very painful experience he had back in 2009 with the IRS. It was a very valuable learning lesson and wants to remind you that if your bookkeeping isn't clean, you have to take action and not ignore it.    Key Takeaways: Are you digging your well before you're thirsty? Tax time is coming! Are you getting your ducks in your row?  In 2009, Alex had a rude awakening!  Alex found out he owed $120k to the IRS.  Alex has 20k-30k in credit card debt at the time too.  Alex didn't know what to do.  Owing money to the IRS taught Alex a painful lesson.   Alex didn't take the time to track the numbers at all.  Where do you need to start to dig your well before you're thirsty?  Do you know the ins and outs of your business in detail?  Yes you want to grow revenue, but you also want to keep overhead low.  Think of a list of things you might need to track going forward and….track them!  Thank you so much for your reviews on Apple Podcast!   MENTIONED IN THIS EPISODE: 🚀 How To Grow Your Business, Expand Your Impact, and Experience Your Perfect Life Don't Wait To Enjoy Your Life Tomorrow, Live It Today ▶︎ https://www.AscendYourSuccess.com/ WHO IS ALEX PARDO? https://flipempire.com/about/ FOLLOW ALEX ON: ★ INSTAGRAM → http://instagram.com/alexpardo25 ★ FACEBOOK → https://www.facebook.com/alexpardo15 ★ LINKEDIN → https://www.linkedin.com/in/alex-pardo★ YOUTUBE → https://www.youtube.com/alexpardo.  .. TWEETABLES: "I owed the IRS in back taxes because my 2006, 2007, 2008 taxes were never filed." "$140-150k in debt and the majority of that to the IRS. The IRS is pretty unforgiving with debt." "I was so focused on taking action, making money, that was my focus. It was not in running a business." ASK ALEX A QUESTION: Have a question you want featured on an upcoming Flip Empire Show? Head over to the Ask Alex page, and record your question. We've made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally! SUBSCRIBE To The Flip Empire Show, and Leave a Rating & Review!