We had the good fortune of connecting with Charles Read and we’ve shared our conversation below.
Hi Charles, is there something that you feel is most responsible for your success?
Knowledge. We are the compliance experts in payroll. We are able to advocate for our clients because I studied and became a CPA, which gives me the ability to take an IRS Limited Power of Attorney to represent and advocate for my clients. Most of our competition can’t or won’t do this. It is a massive advantage for our clients. I also went back to school and became a United States Tax Court Practitioner. This allows me to represent a client in US Tax Court without being a State licensed attorney. There are not very many of us, 86 new ones in the last 16 years. I can take my client’s problems to the US Tax Court for a $60.00 fee for the petition. Not a multi-thousand dollar retainer to an attorney. I read and study and write on employment taxes. This includes my most recent book, The Payroll Book, A Guide for Small Business and Startups, published in 2020 by Wiley. That was a multi-year process of assembling data and examples into a cogent tome. There have been numerous articles and posts on new and old subjects alike, which have required research to be correct, accurate, and understandable. Numerous talks which I have to research and prepare for. I have to keep on top of all the news coming out from 15,000 taxing authorities to be able to keep my clients from coming to grief with one or more agencies. I became a member of the Internal Revenue Advisory Council (IRSAC), which has allowed me to meet with the IRS five times a year to discuss problems that the IRS wants input on and to present things that the practitioner community wants the IRS to look at and study. It has also allowed me to interact with the senior IRS officials on a formal and informal basis and become much better versed in how the IRS thinks and operates.
What should our readers know about your business?
When I was in my early forties, I realized I did not have the political skills to run a large corporation. So to run a company, I had to start my own. Ruth and I started this company, now called GetPayroll, in 1991 with nothing but a credit card and a wonderful banker; Karen Selbo-Hunt now at Frost Bank in Coppell (also the Mayor now). Nothing is easy in a new business, and there is no work-life balance. Only work! I am very proud that we survived and prospered. We still have clients that we had the first year. That is frankly incredible to me. We must be doing something right. We worked and sweated and cried over the business. We took care of our clients regardless of the cost and toil. There is no traffic jam on the extra mile and our clients appreciated what we did and word of mouth is the best referral. We learned and improved our skills and knowledge base to be better able to service our clients for the problems and situations they encounter day to day and year to year. I want the world to know that we are the Payroll and Payroll Tax compliance experts. We are effectively insurance for your payroll. When the IRS makes a mistake, the State makes a mistake or the client makes a mistake, we will do everything possible to mitigate the effects. The IRS, with 100,000 employees and technology, some of which goes back to the 1960s makes millions of mistakes a year. Many of the States are not much better and the local taxing authorities are many times even worse. Our track record with the IRS and other taxing authorities is very, very good. We also provide our clients with payroll-related products and services as a complete suite of services: HR, timekeeping, workers compensation, health insurance, handbooks, employee on-boarding, and much more either directly or through our partners.
Any places to eat or things to do that you can share with our readers? If they have a friend visiting town, what are some spots they could take them to?
There is so much to do in DFW it is hard to keep it short. Restaurants: III Forks, Ojeda’s, Kuby’s Sausage House, Keller’s Drive-In, Celebration, Sonny Bryan’s, Rudy’s, and so many more. Places: Sixth Floor Museum, Dealy Plaza, Perot Museum, Frontiers of Flight, Dallas Arboretum, Ft Worth Botanical Gardens, Southfork Ranch, Reunion Tower, Fair Park, Cowboy Stadium, Deep Ellum and so much more.
Shoutout is all about shouting out others who you feel deserve additional recognition and exposure. Who would you like to shoutout?
To my wife Ruth. 45 years of marriage and partnership before her passing in 2015. She was the love of my life, Light of my Life, One who made the dessert flowers bear fruit. Without her love and encouragement and an occasional metaphoric kick in the ass, I have no idea what I would have been.