NADN - Oryan - Mall For All ripoff Misleading Las Vegas Nevada

I was contacted in October by NADN which said that they could save me money on my taxes. They asked for my last 3 years tax returns to review and said they would be able to file amendments to these returns in order to obtain refunds of overpaid taxes. I had to subscribe to their services, first, however. I did, and never got an answer on my tax reviews.

When I inquired about the review, I was told that they weren't able to find any other deductions that I hadn't already taken and that I would need supporting documentation for any other more agressive deductions which I didn't have. I accepted that. I was sold on the idea of incorporating in Nevada, even though I was already incorporated in Maryland as a subchapter C corp. I was also sold 2 Mall for Alls, one for my corporation and one for me personally. I was sold based on what seemed to be perfectly logical, reasonable tax saving strategies.

Well, what I found out when I had my taxes done by NADN, is that I can't claim any of those deductions or tax credits. The tax preparers simply told me that because my mall made no money in the last 2 months of 2003 and that I was incorporated as a subchapter C corp, that I wouldn't get the benefits that I was told.

I will be simply writing off my expense as start up costs over a few years. I was also told that I would never be obligated to pay off the promissory note since all payments toward it were to come from the sales and hits generated by the sites.

To date, no sales and both promissory notes balances combined have dropped by just under $50.00. My taxes were not prepared in time; but in all fairness, they did file extensions. I had to call them, though to find out how much I needed to send to the IRS by 4/15 to avoid penalties and interest on unpaid taxes. (They seem to be under the impression that everyone gets refunds. I haven't in so many years that I can't remember the last time) I have learned some tax strategies that I never knew were available to me; but the cost I have paid for this knowledge has been incredibly high.

Don't buy anything from NADN concerning these malls. The tax prep may be worth it, but the jury's still out on that.

Dennis
Baltimore, Maryland
U.S.A.