Cincinnati Tax Resolution - March 2020

MARCH/APRIL 2020 VOLUME 4, ISSUE 3

T O P H ’ S TAX RESOLUT ION T I M E S

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AND START LOOKING FOR THE SOLUTION Stop Looking at the Problem

Many of my clients come to my office with mounting tax problems and a lot of stress and anxiety. On top of that, many of them are suffering from paralysis by analysis. They’ve looked at their situation and are afraid to take action. They don’t want to make a mistake or find themselves in a worse situation, or they just don’t know what to do. Of course, when they call me or schedule an appointment, they’re taking a step to fix their problem, but there is often still a long way to go.

more information I have, the better. I can build a case and go to the IRS and make that case on behalf of the client. When things go wrong, you can get stuck in a rut. You might find yourself living in denial or dwelling on the problem— it’s all you can think about. You might not even be able to get a good night’s sleep because of it. But over time, the problem can get worse, and the result is more stress and anxiety. When you stop looking at the problem and start looking for a solution, that’s when the stress starts to go away.

I’ve worked with clients who were married and had joint tax problems.

It’s not uncommon for one spouse to place the blame on the other. If one spouse works and the other doesn’t, on paper it might appear that one spouse is to blame. But marriages are partnerships. Spouses should be on the same page when it comes to filing joint taxes, but when it becomes a blame game, that’s what becomes the focus. It can be hard to start the search for a solution when all they can see is the problem. When they’re in my office, I try to get to the point. I tell them that in order to solve their tax problem, they can’t go around pointing fingers. It doesn’t do any good. And to complicate things, getting stuck on the problem can have an impact on the resolution. Facts might be missing. Key information may be skipped over.

I know because I’ve been there. Before I was a CPA for the self-employed, I went through my own financial challenges. I’ve talked about them in past newsletters. I was stressing myself out thinking about them, but I wasn’t thinking about what I should do about them. I had a constant cloud hanging over my head. That changed when I changed my mindset. I had a breakthrough and started to find success when I focused on solving my problems. I stopped dwelling on what was going wrong and instead, I asked myself, “How do I fix this?” I got proactive and I was persistent. I set my sights on the solution, and I got there. Years later, I’m helping people do the very same thing. When you’re facing something as big as the IRS, it’s hard to pull yourself up and say, “I have to take care of this.” But when you do, as I learned, it’s like having the whole world lifted from your shoulders.

–Toph Sheldon

People can get so worried about who’s to blame that it gets in the way of a proper investigation. Part of what I do is putting together the whole tax story. The

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WHEN THE IRS COMES KNOCKIN’ ... LET US ANSWER THE DOOR!

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