Here is my horrible experience with The Tax Club. Also be aware that they have other affiliate companies like My Online Development which is how I was introduced to them before being formally introduced as The Tax Club. Also be aware of Profit Systems Online with Paul Johnson. I was fortunate enough to cancel my Tax Club membership within 15 days to get 85% (out of about $4500) refund and I got out of their so called Business Credit building program within 3 days so I got 100% refund (out of about $5000). But I got stuck with the $10,068 I paid to My Online Development, which offer 4 different services from 4 different companies in various states around the USA.
It started when I found a link in MSN.com about work from home jobs, as I was looking for a way to make a little extra money in this economy. This was back in July 2010. I followed the link to a "testimony" about a single mother making more than $6000 a month from home. The article sounded convincing so I follow another link that took me to Profit Systems Online, which is the culprit that started the whole mess. Profit System's website is loaded with testimonies and hurrah about the program that supposedly helps many people earn a lot of income from home (which is probably true, but I'm sure through better programs than this) and so on. So I thought I would pay the $49.95 to start up the program, but I should have trealized something was fishy after they lead you to another website encouraging you to pay an extra $150 to join they special program.
Then I did what I should have done first before getting into this scam, I researched Profit Systems Online and found some blogs with complaints about this program. The next day I called them to try to cancel and get a refund, but they manages to convince me it was a legit program by showing me a few websites built and making thousand and dollars a months, and that they can teach me how.
I feel real dumb for believing their half truths and lies, but I learnt a big lesson. But anyway, then they said I qualified for there elite program to get one on one training and access to their e-library of lessons and videos and stuff. How they determined that I qualify for this program? By asking me how much credit I have in my credit cards. Once they knew this, they proceed to take almost all of it within the space of one month, leaving me about $30,000 in debt. Why did I do it, you may ask? Because they gave me the impression that the more I spend with them, the faster I would start generating income from my e-commerce website(s). So I took their word for it, thinking they had my best interest like most decent companies, but these people are not decent companies.
Back to my story, by early August 2010 not long after I started the one on one coaching which cost about $7500, I receive a call from some one from California representing My Online Development (Joseph Mastralangelo, I'm mentioning his name, because after he got me in this mess, I tried to call him 3 times for advice and he never returned my calls). So Joe smart talks me into signing up for a package of about $10,068 that includes building an ecommerce website, a business logo, a 30 second promotional video and a marketing package. The plan was that while I'm doing the training with my coaches at Premier Coaching, they will be doing the hard work for me and by the time I competed my training my website would be up and ready. The problem is I did not finalize my niche product until the beginning of September and by then I was struggling the pay my credit card bills which rose very high before of all the charge made on them. And by them I already started building my on website so I thought I can cancel my My Online Development website and video account, but I didn't realize the deadline for cancellation was gone about 2 week because. I never heard of any company having such a short space of time get a refund, and also never heard of not getting are fund even if you never use the service. Then I realized I was screwed and started getting stressed out and worried, including a couple emotional break downs, and shame for getting myself into this scam without research and going with my initial hunch that something was wrong.
Enter The Tax Club, so called tax professionals from NY. This guy, Anthony, calls me and said he was referred to me by my coaching team and said they would offer me tax preparation service, and convinced me that I needed the make my business an S-Corporation to protect my personal assets, which I later found out was *** and I did not need that now. This packages cost $4500 and he claimed I can get a big refund when I filed my taxes. Then they set up phone appointments for me to expect one call per week for the next 4 weeks and said I will be offered other services that are optional. Next thing I know, by the next week I'm being talked into paying $5400 for building business credit and applying for a $25,000 loan to consolidate my business expenses. What really tick me off is that even though I told the freak I did not have any more credit left to charge for the service, he still when ahead and charge my credit over my balance, maxing it out. That was it for me.
A day later I canceled my Tax Club membership by email and phone call asking them for a refund. It took then almost 2 weeks to give me full refund for business credit and 85% for starting up and S-corp application. I also received their S-corp paperwork in the mail but did not sign any of the papers. Then I took a day off from work to speak to real tax professionals at H&R Block and another independent and reputable accounting company in my area, asking them if what the people and The Tax Club were telling me is true about being incorporated and the huge cost. They both said no, and one accountant said he even does a lot of services for free and only charge to file taxes.
Unfortunately I'm stuck with the bill from My Online Development and some of the things they did for me I can't even use for various reasons. Now I'm stuck with a website that was built for me and I'm just fed up with spending hours on trying to market my first site with only one sale so far. Plus I'm making monthly payments for a merchant account, dropshipper, and web builder and no sales. Then recently I found out that most of the marketing techniques I learnt from the coaching are outdated and not very effective for getting found in internet search engines.
Like I mentioned before and to be more specific: Profit Systems Online (and there other variant names), My Online Development (same billing address as The Tax Club) and The Tax Club, located in the Empire State Building in NYC, are not decent businesses. They just make people spend large amounts of money unnecessarily to full their pockets and pay the rent in the Empire State building, among other location they affiliated with around the USA.
I hope this experience I wrote helps someone out there. You don't have to spend a bunch of money upfront to start an online store, I just set up 2 online stores at CafePress.com for free. The most amount of time and money should go to marketing like intelligent Press releases, blogging and social media. You can build an e-commerce online store for free or as little as $5 to $15 a month with Citymax.com or Intuit.com.
And if you are in huge amounts of debt and can't pay your credit card bills because of The Tax Club and other scams, try a Debt Management program like the one I'm with called MMI: https://www.moneymanagement.org or call them at 1-866-490-9478. Or ask your credit card customer service to hook you up with a debt payment program and they will communicate with your credit cards to come up with a manageable payment plan with very low interest rate (1% to 1.99% for me).
I hope this helps.
Monetary Loss: $18.