Take a look at our July newsletter!
Sometimes That Isn’t Enough Did You Hear That?
Mama Said It Best: Don’t Just Say It — Do It There’s an old-school truth that still hits home today: Don’t just tell me what you’re going to do — do what you said you’d do. That’s the bread and butter of effective communication. It’s not enough to hear and nod. Real listening leads to understanding, and understanding demands action. So, when someone speaks, whether it’s a colleague, a child, or the IRS, the best response isn’t always a clever reply. Sometimes, the best reply is simply following through. Are You Listening to Respond or to Understand? Most of us are guilty of it: We listen just long enough to form a response. We’re already halfway into our rebuttal before the other person has even finished speaking. But that habit short-circuits meaningful connection. Listening to understand changes everything. It deepens relationships, prevents conflict, and builds trust — whether at work, at home, or even with the IRS. How to Practice Better Listening To celebrate World Listening Day on July 18, consider doing more than just lending an ear. Try this instead:
World Listening Day is this month — huh?
While this day isn’t a typical celebration, it’s certainly one worth pausing for, especially in a world where we do a lot more talking than truly listening. We tend to think of communication as what we say — how well we articulate ideas, express opinions, and get our message across. But here’s the truth: The real power of communication lies in listening. And not just passively hearing words, but actually listening — to understand, to respond meaningfully, and to act. The Full Circle of Communication In my opinion, communication isn’t complete until the listener can repeat the speaker’s message back in their own words — and get it right. That’s a powerful concept. It means listening goes beyond sound waves hitting your ears. It involves comprehension, reflection, and response. Even more importantly, communication doesn’t stop at words. It includes action. If you say, “Yes, I understand,” but never follow through on what was discussed, then guess what? The conversation didn’t really count. Listening Isn’t Just for People — Ask the IRS Now, let’s make it real. Have you ever received a letter from the IRS? It might look like a form letter, but if you “listen” to the tone, the language, and the underlying message, it’s often more serious than it appears. What they’re really saying is: If you don’t respond, we will.
“Remember, listening starts with attentive
listening, requires honest reflection, and ends with meaningful action.”
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Reflect what you’ve heard: “So, what I hear you saying is …” Watch for tone and intent , not just words. Read between the lines , especially in written communication. Act on what you’ve heard — do what you said you would do. Stay present. Resist the urge to interrupt or mentally draft your reply.
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Remember, listening starts with attentive listening, requires honest reflection, and ends with meaningful action. Whether talking with a loved one or navigating a letter from the IRS, the message is clear: Listen first, understand fully, and follow through. Your words matter, but so does your ability to hear them back, loud and clear. -Ben Golden
JULY 2025
That’s why listening isn’t just about ears. It’s about interpreting the intent, reading between the lines, and acting accordingly. In this context, missing a deadline isn’t just poor planning — it’s noncommunication. You’re telling the IRS, “You’re not a priority.” And trust me, that’s not a good conversation to have.
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On May 22, 2025, the U.S. House of Representatives passed the One Big Beautiful Bill Act (OBBBA) on a 215–214 vote. It is a comprehensive budget reconciliation package, championed by President Donald Trump. Key Provisions and Objectives The OBBBA aims to extend and expand upon the 2017 Tax Cuts and Jobs Act (TCJA), which is set to expire at the end of 2025. Notable provisions include: • Tax Relief Measures: Permanently extending individual and corporate tax cuts, increasing the child tax credit to $2,500 through 2028, and introducing tax exemptions for tips and overtime pay. • Business Incentives: Restoring full expensing for domestic research and development costs and extending 100% bonus depreciation through 2025. • NEW TAX BILL AND NEW
RETRO HABITS MAKE MODERN LIFE (AND PRICES) EASIER In a world where you can have anything delivered in a day, it’s easy to forget that less can be more. But our grandparents and great-grandparents knew the art of stretching a dollar. These timeless frugal habits aren’t just budget- friendly; they’re resourceful and surprisingly satisfying. Ready to channel your inner penny-pincher? Let’s bring these throwback habits back to life. Mend it, don’t end it. Once upon a time, people didn’t just toss a sock with a hole. Instead, you sewed it right back up! No need to rush to the store — just a few basic mending skills can save you from countless unnecessary purchases. It’s also more empowering to fix something with your own hands than tossing it — not to mention much more eco-friendly. Master the magic of homemade meals. Fast food might be convenient, but cooking from scratch is where the real savings (and flavor) happen. Think soups from veggie scraps and hearty meals made from simple pantry staples. Not only does it cut costs, but it puts you in control of your ingredients and nutrition — a win-win. Reinvent your leftovers. Gone are the days of letting food wilt in the fridge. Old-school frugal folks gave every last bite a second act. Roast chicken becomes broth. Rice gets turned into stir-fry. Stale bread transforms into French toast or bread pudding. Get creative! You’ll waste less and eat better. Choose cash over card. There’s something about handing over $20 cash that makes you think twice before spending it. Cash budgeting may feel outdated, but it’s one of the simplest ways to curb impulse buys. Envelopes marked for groceries, gas, or coffee dates give you a clear snapshot of your spending — and what’s left. No more senseless swiping! Save with secondhand savvy. Hand-me-downs were once a household norm! Today, thrift stores and vintage finds are trending again, and for good reason. Whether it’s clothing, furniture, or kitchenware, buying secondhand is kinder to your wallet and the planet.
Social Program Reforms: Implementing stricter work requirements for
GARLIC PARMESAN SHRIMP Inspired by CooktopCove.com
So, channel some old-school genius and start living a frugal, intentional lifestyle!
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L MEANS NEW DEDUCTIONS — HEADACHES FOR THE IRS
Adjustments to Tax Brackets and Deductions The bill maintains the current tax brackets established by the 2017 TCJA but introduces several notable changes: • Child Tax Credit: Increases the credit to $2,500 per child through 2028, with a return to $2,000 thereafter. • State and Local Tax (SALT) Deduction: Raises the cap from $10,000 to $40,000 for taxpayers earning below $500,000. • New Deductions: Introduces deductions for tips and overtime pay, and establishes MAGA savings accounts with a $1,000 government contribution per child age 8 or younger born before January 2024. Potential Impact on Audits and Collections The introduction of new deductions and credits may increase the complexity of tax filings,
Medicaid and the Supplemental Nutrition Assistance Program (SNAP), and reducing funding for certain social programs. • Defense and Border Security: Allocating an additional $150 billion for defense spending and increasing border security funding. The Congressional Budget Office estimates that the bill would add approximately $3.8 trillion to the national debt over the next 10 years.
potentially leading to a higher risk of errors and non-compliance. The IRS may need to adjust its audit strategies to address these changes, focusing on areas with increased potential for misuse or misunderstanding.
Why It Matters For Clients
Taxpayers should be aware of the potential changes to deductions and credits that could affect their tax liabilities. Planning ahead and consulting with tax professionals can help navigate the evolving tax landscape.
Implications for IRS Funding and Enforcement
While the OBBBA does not directly address IRS funding, the significant tax code changes would necessitate updates to forms, guidance, and enforcement procedures. The complexity of new provisions, such as the MAGA savings accounts and revised deductions, may strain IRS resources and affect audit and collection activities.
For Referral Partners Financial advisors, attorneys, and other
professionals should stay informed about the bill’s provisions to provide accurate guidance to clients and determine when to refer them to tax specialists.
This client approached us feeling overwhelmed and anxious, having gone several years without filing taxes for herself or her business. WIN OF THE MONTH: Aloha, Debt! CASE SNAPSHOT Client: Maui Resident Type of IRS Issue: Personal and Business
This recipe is quick, easy, and promises a restaurant-quality meal from your own kitchen. It’s perfect over pasta or a green salad. Impress guests or indulge yourself on a weeknight! INGREDIENTS
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3 tbsp olive oil
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1/2 tsp black pepper 1 pound large shrimp, peeled and deveined
4 cloves garlic, minced 1/2 cup grated Parmesan cheese 1 tsp Italian seasoning
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2 tbsp chopped fresh parsley
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Juice of 1 lemon
1/2 tsp salt
DIRECTIONS
We immediately started planning so we could take the appropriate action, and after we explained the entire plan, we started moving forward. It took us 31 months to complete an Offer in
Tax Years in Question: 2015–2021 Total IRS Liability: $502,918.35 Savings Secured: $488,790.35
1. Preheat oven to 400 F. 2. In a bowl, combine olive oil, garlic, Parmesan cheese, Italian seasoning, salt, and pepper. 3. Add shrimp to the bowl and toss until fully coated. 4. Arrange the shrimp in a single layer on a baking sheet. 5. Roast in the oven for 7–9 minutes or until the shrimp are pink and slightly golden. 6. Remove from the oven and sprinkle with chopped parsley and fresh lemon juice before serving.
Compromise. Our plan changed slightly over time, but we were able to pivot and file the tax returns and get the IRS to approve the liabilities to be written off in the amount of $488,790.35! The client was able to say “Aloha” to the $502,918.35 original liability and pay under $15,000 to settle her debt!
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1 You’re Talking — But Are You Truly Communicating? 2 Old-School Habits That Will Save Your Wallet INSIDE THIS ISSUE
How the New Tax Bill Affects You
3 Garlic Parmesan Shrimp Win of the Month 4 The Most Dangerous Game of Monopoly Ever Played
WHEN MONOPOLY HELPED WIN A WAR Allied Powers Outwitted the Enemy, One Game at a Time
You know Monopoly as the game that ruins friendships and sparks hourlong battles over Park Place. But during World War II, it played a much more significant and far braver role: helping Allied soldiers escape from German POW camps. Yes, really. In one of the most brilliant covert ops of the war, the British Secret Service turned Monopoly into a top-secret escape kit. Before this tactic, smuggling noisy paper maps without tipping off the guards was too risky, and getting caught could be fatal for prisoners. Enter silk — strong, weather-resistant, and, most importantly, silent. The British turned to John Waddington Ltd., the licensed Monopoly manufacturer in
the UK, who also happened to be an expert in printing on silk. It was a match made in espionage heaven. Waddington didn’t just tuck maps into game boxes, though. In a locked room most employees didn’t know existed, craftsmen rigged Monopoly sets with tiny metal files, magnetic compasses, and even real currency hidden beneath the play money. Each game was marked with a secret red dot on the Free Parking space — an insider’s clue for captured soldiers to look out for. Thanks to a clever partnership with the Red Cross, these “games” were slipped into POW camps as humanitarian aid packages. The guards thought
they were passing along innocent entertainment. Meanwhile, inside the box were the tools to freedom. By the end of the war, over 35,000 POWs had escaped German camps — many with the help of these customized Monopoly sets. Though exact numbers are lost to history, Monopoly’s role in those escapes is one of the war’s clever secrets. The mission was kept quiet for decades to preserve the strategy for future use. Today, the story reminds us that the simplest tools can sometimes carry out extraordinary missions. Next time you pass “Go,” just remember Monopoly once helped people pass barbed wire.
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