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DECEMBER 2024 VOLUME 8, ISSUE 8
TOPH’S TAX RESOLUTION TIMES
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ESCAPE TOGETHER HOW KID-FREE GETAWAYS RECHARGE OUR RELATIONSHIP
Raising our six active kids and running a business leave Ashley and me with little time to ourselves.
area and get some exercise by hiking moderate trails that present some challenge. Exploring faraway places, not worried about our phones, these activities are so relaxing. (Of course, we still worry about the kids a little, but we can’t do anything about that from 2,000 miles away.) We just enjoy the moment. In the evenings, we might go out for a nice dinner and some free-flowing conversation, without thinking about the millions of different tasks and responsibilities we manage every day at home. This kind of quality time alone with each other is hard to come by amid the constant chaos of our regular daily lives. We took our first getaway four years ago around the time of our wedding anniversary on June 8. For the past three years, we have gone around the time of our birthdays — Oct. 25 for Ashley and Nov. 2 for me. Three couples who are friends of ours came with us to Saint Lucia this year. They all have kids and were in the same boat as we were — excited to have some decompression time for adult socializing, without any agenda. Our trip was especially sweet this year, not only because it was Ashley’s 40th birthday, but because it isn’t clear how long we will be able to continue this tradition. We left all six kids with Ashley’s mom for the first time, and we consider ourselves very lucky to be able to do so. Many of our friends with fewer kids have never traveled without their children. These getaways allow me to reset, recharge my batteries, and refocus on some fresh priorities. I’m hoping to capitalize on that renewed energy this year and make some improvements in the way I manage my time. As the year-end holidays draw near, I hope you have a chance to recharge and reset your priorities too and make 2025 a better year!
That’s why we have made a tradition of taking annual trips to the Caribbean. Although we took baby Nelle in 2023, we typically go by ourselves. These getaways have provided a much-needed escape, giving us some peace, quiet, and time to ourselves to refresh and regroup. When you’re as busy as we are, it is easy to lose sight of certain things that are really important. After a year of running on the hamster wheel, you’re not really thinking clearly. You’re just hitting deadlines, getting stuff done, working late, coming home late. When you have kids, especially as many as we have, they become the first priority. Even though some other priorities are really important, you don’t focus on them as much. Spending time together as a couple is one of those priorities. Our trips together free us to appreciate each other more and focus on areas of our lives that are not 100% kid-centric. It’s all about taking care of our relationship. Research bears this out. Couples who take getaways without their kids tend to be more satisfied with their relationships and happier in general than couples who don’t, according to a study by an industry group, the U.S Travel Association. The Caribbean works best for us because we only have a week — not long enough to get to Hawaii or other more distant destinations. We went to Saint Lucia this year, and we’ve visited the Cayman Islands and St. John and St. Croix in the U.S. Virgin Islands in years past. These islands offer some truly beautiful, diverse terrain, from rainforest and lush green mountains to secluded beaches.
–Toph Sheldon
Rather than setting a day-by-day itinerary, we usually just wing it. We like the beach, but we’re not ones to sit there all day. We like to explore the
DON’T LIVE IN FEAR - TOPH IS HERE!
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Tech Tools to Ignite Your Sales
AI, Automation, and More
These days, it’s hard to imagine a time when landline calls, in-person meetings, handwritten day planners, and faxes fueled our sales and marketing efforts. The tools we use to grow our businesses have evolved exponentially in recent years, giving us exciting new frontiers to explore in creating and maintaining customer relationships. The technologies now available for lead generation present virtually endless possibilities for organizing goals and increasing profits. From Clicks to Clients Going through the list of followers on your company’s social media accounts may give you an idea of who’s casually interested in you, but decoding the secrets behind businesses that visit your company website is the key to identifying dependable leads who’ve directly investigated your services. Wouldn’t it be wonderful to receive word that the main purchaser at your most coveted new client company has already checked out your product page? You may be thrilled to know that visitor identification tools like Leedfeeder and Factors trace website visitors’ IP addresses to the source and identify their business, position, and contact information. This technology enables sales and marketing pros to develop personalized campaigns to turn that warm lead into a lasting partnership. Enhancing Email Engagement Is your email outreach structure generating new accounts or functioning more as the virtual equivalent of hit-or-miss door- to-door sales? Thankfully, modern methods make generating sales from cold leads more than just a shot in the dark. As just one example, Instantly AI provides tools for mass email automation/management, writing assistance, and analytical tracking. If you need help building a more substantial list of legitimate prospects, Instantly AI’s Lead Finder database — which, according to the company, has 160 million verified entries based on job positions, specific keywords, and other confirmed data — may be worth a look. Strategizes for Streamlined Scheduling Gone are the days when we had to cover the borders of our computer monitors with Post-it notes to remind ourselves of important meetings and events. Today’s web-based scheduling software allows users to book appointments without grabbing a pen or sending multiple emails. By sharing their calendars and availabilities virtually, sales reps and customers can slot times seamlessly in just a few clicks. Utilized by teachers and students, small businesses and major manufacturers, these technologies are especially helpful for sales forces that juggle meetings with multiple clients in various time zones. Well-known providers include Calendly, YouCanBookMe, and HubSpot. Mastering the Marketing Tool Maze Naturally, not all of today’s online business solutions are created equal. As even the simplest Google search will reveal, the marketplace is flooded with products of varying usability, capabilities, and pricing structures. Also, tech providers are prone to mergers and rebranding, so a platform known by a certain name today may change monikers overnight. Before selecting any software or service, dive into free demos/tutorials, customer reviews, and what competing vendors offer. Above all, research with patience, as something that seems like a quick fix today could become a costly tech-ache in the long run.
COUPLE WINS 80% CUT IN IRS DEBT TOPH’S TAX TRIUMPH
Sometimes, a timely payment plan with the IRS is a good deal.
I recently represented a couple that owed the IRS about $140,000, mostly in taxes and penalties on withdrawals they had taken from their retirement funds to stay afloat during the pandemic. The husband had since resumed working and was making about $60,000 a year — enough to support his wife and their child who was living at home, without much left over. This couple owned their home outright, with about $300,000 in equity, and had about $100,000 left in retirement savings. But the IRS debt and the agency’s collections actions against them were undermining their financial future, as well as their peace of mind. I knew the IRS was unlikely to agree to a one-time settlement for this couple because, in theory, they had enough assets, based on the equity in their home and the balance in their retirement account, to pay off the entire IRS debt. Instead, I negotiated a plan for the couple to pay the IRS $210 a month for eight years. The IRS offered to stop all collections activity against the couple if they stuck to the plan and made payments consistently. After eight years, when the statute of limitations on debt repayment expired, the rest of the debt would be forgiven. If you do the math, this was a great solution for my clients. A $210 monthly payment over 120 months comes to $25,200 — a mere 18% of the couple’s total debt. As long as they stick to the payment plan, they will enjoy a sharp reduction in their total taxes, comparable to those my clients have often received in one-time settlements. The IRS retains some leverage with such a plan. The agency could resume collection actions if the couple fails to make scheduled payments, or file a tax lien on their house and collect on the entire debt if they sell the home. Fortunately, the couple has no plans to move. My past experience representing and negotiating on behalf of hundreds of clients before the IRS helps me to identify winning strategies like this one. My clients were very happy with this agreement, which gives them breathing room in the short term and debt relief in the long term. They were clearly relieved that the IRS is no longer looking over their shoulder!
–Toph Sheldon
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ASHLEY’S CORNER The Great Pre-Christmas Purge
We are so excited for Christmas this year. We love getting the tree, and the kids each have special ornaments.
Now everything is cleared out. Of course, Toph can’t find anything. I told him, I probably need to give you a tour and show you where everything goes. He’s asking, “Where are you cleaning next?”
The giving-presents part of Christmas is always a struggle, though. With six kids and six birthdays each year plus Christmas, we just accumulate too much stuff! The kids’ toys were exploding out of everywhere. My New Year’s resolution from last year was to go through all our stuff, room by room, and clean it out. To be clear, that hasn’t happened. But now, I’m doing a giant purge to get ready for Christmas. I have gotten rid of so much old stuff. I’ve gone through the basement and the kids’ closets. I’ve done my pantry and the kitchen cabinets. I have a home organizer helping me, and she has great ideas. But she also holds me accountable. I know when she’s coming, and I have to be ready to work with her. A pro tip from the organizer: Go into each room and take out anything that is not supposed to be in that room. You end up making a mess at this stage. It gets worse before it gets better. And then you organize what you have left into categories and find homes for all of it. Our Tupperware cupboard was just a complete mess. Why do we have so much Tupperware? If we used all the Tupperware in the cupboard, it wouldn’t fit in the fridge! So, I pared it down. We also had a junk cupboard.
The basement was a huge project. I took all the kids’ toys to the basement, sorted them, and put them all in their spot. The kids want to play down there now because all the toys are organized and all the pieces are there. I’m not trying to sell stuff. I’m giving it away to people in need, through Goodwill and Matthew 25: Ministries. We have so much, and it’s the giving season!
So, as Christmas approaches at your house, get your clean on! Consider doing your own great purge. You might be surprised by the rewards!
Take a Break
CREAMY THAI CARROT AND SWEET POTATO SOUP
Ingredients
Inspired by CookieAndKate.com
• 1 tbsp coconut oil • 2 cups chopped yellow onion • 2 cloves garlic, minced • 1 tbsp minced fresh ginger • 2 tbsp red curry paste • 4 cups vegetable broth, divided
• 1/4 cup almond butter • 3 cups diced carrots • 3 cups peeled, diced sweet potatoes
• Salt and pepper to taste • Cayenne pepper (optional)
Directions
1. Melt coconut oil in a large pot over medium heat. Add onion, garlic, and ginger and sauté for 5–6 minutes. Stir in curry paste. 2. In a small bowl, whisk 1/3 cup broth with the almond butter until smooth. Add the mixture to the pot, along with the carrots, sweet potatoes, salt and pepper, and remaining vegetable broth. Stir to combine. 3. Bring soup to a low boil over medium-high heat, then reduce heat, cover, and simmer for 15–20 minutes or until the potatoes and carrots are fork-tender. 4. Blend with an immersion blender until the soup is smooth. 5. Season with salt and pepper. Add a pinch of cayenne pepper for more spice if desired.
Solution on Page 4
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Cincinnati Tax Resolution Powered by Toph Sheldon 9200 Montgomery Rd., Ste. 7B Cincinnati, OH 45242
PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
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INSIDE 1
Toph Reflects on Annual Trips With Ashley — Sans Kids! Transformative Tech for Top Leads Toph Wins an 80% Cut in Couple’s Tax Bill Ashley’s Corner: The Great Pre-Christmas Purge Creamy Thai Carrot and Sweet Potato Soup Lil’ Kim Settles the Latest Tax Lien
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THE QUEEN OF RAP PAYS OFF THE IRS — AGAIN TOPH’S TAX NIGHTMARES
Recording artist Kimberly Jones, also known as the Queen of Rap, has fielded almost as many IRS tax liens as major music awards. Jones, whose stage names include Lil’ Kim and QueenBee, recently paid the IRS $150,775 to settle a lien the agency filed last May over taxes owed for 2022, according to records
obtained by In Touch Weekly, a celebrity news site. The lien was the latest in a long series of IRS enforcement actions against the pint-sized rapper, the recipient of 10 major music awards including a Grammy. The IRS previously hit Lil’ Kim with liens covering at least 11 years of back taxes. As of 2012, when she reportedly owed the IRS $1 million, a spokesperson told the news site TMZ that Jones had hired attorneys who were working “cooperatively and diligently” with the IRS to resolve the debt. Jones was still under water in 2018, when she sought Chapter 13 bankruptcy protection in New Jersey. In court filings, Jones said her IRS debt had mounted to $1.5 million. She reported assets totaling $2.57 million and liabilities of $4.08 million. Most of her debt was related to a $2 million mortgage on her seven-bedroom, 6,000-square-foot home in
New Jersey. She also reported owning a 2005 Bentley and a 2000 Mercedes Benz.
Jones later asked the court to dismiss her bankruptcy claims, saying she had worked out a loan modification with the bank to avoid foreclosure on her home. Her request was granted. Jones later reached an agreement with the IRS, leading to the release of tax liens totaling about $1 million, according to In Touch Weekly. In a career spanning nearly a quarter-century, Jones has sold more than 15 million albums and 30 million singles worldwide. Known for risk- taking and luxurious fashion choices, she lived on the streets of New York for a time as a teenager before rising to fame. As her talent for freestyle street rap became evident, she was drawn into the world of professional rappers by her friend Christopher Wallace, The Notorious B.I.G. The pair later made a gold record together.
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DON’T LIVE IN FEAR - TOPH IS HERE!
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