888.670.0303 WWW.ROZSTRATEGIES.COM
PRSRT FIRST-CLASS MAIL US POSTAGE PAID BOISE, ID PERMIT 411
®
11271 Ventura Blvd #612 Studio City, CA 91604 Inside This Issue pg 1 ∙ Life’s Struggles pg 2 ∙ Food for Thought pg 3 ∙
From the Practice Corner
pg 4 ∙ Member Spotlight pg 5 ∙ Tax Resolution Success Summit pg 6 ∙ Shout Outs! pg 8 ∙ IRS Terror Tale of the Month
IRS Terror Tale of the Month R&B Diva Can’t ‘Un-Break’ the Bank
For most people, starting the year off with a highly publicized breakup would be the worst of your troubles. Unfortunately for rhythm and blues singer Toni Braxton, the celebrated artist is as famous for her astounding money troubles as she is for her beautiful voice. In January of 2019, just days after calling off her engagement to hip hop singer Birdman, court records came out revealing the IRS had filed a lien against Braxton for over $340,200 in back taxes for 2017. At the same time, the California Franchise Tax Board also filed a tax lien against her for over $116,100, leaving the singer with nearly half a million dollars in debt. Both the IRS and the state of California warned Braxton that if she failed to pay her dues, they would start the process of seizing her property. This isn’t the first time the Grammy winner has found herself with money troubles. Last year, Braxton was hit with four tax liens — two from the state of California and two from the federal government. At the time, the singer owed $780,808.29 in back taxes from 2015 and 2016.
Braxton has also filed for bankruptcy twice in the past. She first filed for bankruptcy in 1998, later blaming a bad record deal as the reason for her money troubles. Additionally, Braxton has claimed she spent most of her money on“girly things” like dishes, houseware, and Faberge eggs. Later, when Braxton filed for bankruptcy again in 2010, she
cited health problems that forced her to cancel a number of shows. Braxton reportedly had $10 million in debt erased after her second bankruptcy. Braxton has been very open about her financial struggles, saying she hopes to be a cautionary tale for aspiring young artists about keeping a tighter grip on those Gucci purse strings. Ideally, they won’t hold so tight that they try to cut the IRS out of their share. Hopefully Braxton and the IRS will be able to work out a deal and she won’t be saying, “The third time’s the charm!”next year.
8 • www.rozstrategies.com
Published by The Newsletter Pro • www.NewsletterPro.com
Made with FlippingBook - professional solution for displaying marketing and sales documents online