Take a look at our March newsletter!
Navigating IRS Troubles With Confidence
Protection From the IRS Having personally experienced the challenges of being bullied by the
Today’s world is jam-packed with financial complexities and uncertainties, and that’s why our motto at IRS Trouble Solvers is so fitting: peace, protection, and posterity. At the heart of everything we do lies a commitment to delivering these three core values to our clients. However, the driving force behind our approach is a simple yet powerful concept: optimism. This month, we celebrate Optimism Month, and as the founder of IRS Trouble Solvers, I have always embraced a glass-half-full mentality, believing that an optimistic outlook is essential in navigating life’s challenges. At IRS Trouble Solvers, we understand that facing issues with the IRS can be a daunting and emotionally taxing experience. We don’t merely focus on producing positive outcomes for our clients — we emphasize building lasting relationships and providing guidance through a challenging process. Our commitment to optimism is embedded in every aspect of our work, as we believe maintaining a positive mindset is crucial to achieving financial freedom. Likewise, our motto, “peace, protection, posterity,” encapsulates the multifaceted approach we take to address the needs of our clients.
“Our commitment to optimism is embedded in every aspect of our work,
IRS, I understand the importance of protection. At IRS Trouble Solvers, we go beyond addressing immediate concerns — we implement strategies to shield our clients from potential future
issues with the IRS. Our proactive approach involves meticulous planning and a commitment to safeguarding our clients’ financial well-being.
as we believe maintaining a
Posterity and Delivering Hope Through the concept of posterity, we aim to instill hope in our clients. IRS troubles can feel like an endless tunnel, but
positive mindset is crucial to achieving financial freedom.”
our mission is to guide our clients toward the light at the end. By providing strategic solutions and unwavering support, we aspire to help our clients envision a future free from the shackles of financial uncertainty. Optimism is not just a philosophy at IRS Trouble Solvers — it’s a guiding principle that shapes our client interactions. My personal passion lies in advocating for our clients, and an unwavering belief in the power of optimism fuels this passion. Without optimism, the journey toward financial freedom would be arduous. We strive to infuse positivity into every aspect of our work, knowing that an optimistic outlook can be transformative, not only for the immediate challenges but for the long-term prosperity of our clients. -Ben Golden
Peace of Mind
Our primary goal is to deliver peace of
mind to our clients. Dealing with IRS- related issues can be stressful and overwhelming, and we strive to alleviate these burdens.
By providing comprehensive support
MARCH 2024
and expertise, we aim to reassure our clients they are in capable hands. Our team is dedicated to managing the intricacies of IRS matters, allowing our clients to focus on regaining control of their lives.
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S CORP, C CO STRATEGIES F Tax Tips Every Freelancer and Se
Take Charge of Your Health Fasting for Vitality
Tax season can be a stressful time for freelancers and self-employed individuals, but with the right strategies in place, navigating your taxes can become a smoother process. Here are some essential tax tips to help freelancers and self-employed individuals maximize deductions and minimize tax liabilities. Maintain detailed records. It’s crucial to keep detailed records of all income and expenses throughout the year. This includes invoices, receipts, bank statements, and any other documentation related to your business activities. Organizing your financial records will not only make it easier to prepare your taxes but also ensure you claim all eligible deductions. Maximize deductions. Speaking of deductions, freelancers and self-employed individuals are entitled to deduct business-related expenses from their taxable income. This includes expenses such as office supplies, equipment, travel, and professional services. Keep track of these expenses diligently and consult with a tax professional to ensure you’re taking advantage of all available deductions.
Fasting is a popular diet trend at the moment. You can find videos all over the internet about the benefits people have had while engaging in fasting. Fortunately, unlike many fad diets, the fasting trend is positive, as research has shown it offers many health benefits. Here’s a look at a few of those. Why should you fast? When the body stops getting calories, you start burning fat reserves in your body. This fat is sent to the liver and converted into acids called ketones. Ketones are used as fuel to run your body and brain like a backup generator when it doesn’t have food. This process is called ketosis and happens when you fast. Besides burning fat, fasting offers other benefits: • It promotes blood sugar control by lowering insulin sensitivity — so fasting decreases the chances of getting Type 2 diabetes. • Fasting reduces acute inflammation and improves chronic inflammation, which has serious consequences for heart disease, cancer, and other serious conditions. • It improves heart health by lowering cholesterol and blood pressure, decreasing the odds of developing heart disease. • Regular fasting may boost brain function and prevent neurodegenerative disorders. • Fasting helps with weight loss by increasing growth hormone secretion. Types of Fasting Before engaging in any fasting routine, check with your health practitioner to make sure you are making a choice that aligns with your continued health and wellness. There are many types of fasting, including: • Juice Fasts — You only drink fruit or vegetable juices for the duration of the fast. • Water Fasts — You can only drink water for a regulated period of time. • Intermittent Fasting — This technique restricts food intake, wholly or partially, throughout the day or for part of the week. You can eat as you usually would during the off-hours or days. Fasting, a healthy diet, and exercise offer many health benefits and help keep your body and mind spry as you age. Talk to your doctor to see if fasting could be a reasonable part of your life plan.
Estimate and pay quarterly taxes. Unlike employees who have taxes withheld from their paychecks, freelancers and self-employed
individuals are responsible for paying taxes on a quarterly basis. Failing to do so can result in penalties and interest charges, so it’s essential to stay on top of your tax obligations throughout the year.
St. Paddy’s Irish Soda Bread Inspired by Epicurious.com
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ORP, OR LLC FOR SUCCESS elf-Employed Person Should Know
A Zero- Liability Feat! WIN OF THE MONTH
Consider retirement savings options. When it comes to retirement savings, freelancers and self-employed individuals have several options available to them. One popular option is a Simplified Employee Pension (SEP) IRA, which allows you to contribute a percentage of your income to a retirement account. Contributions to a SEP IRA are tax-deductible and can help reduce your taxable income. Additionally, consider setting up a Health Savings Account (HSA) if you have a high-deductible health insurance plan. Contributions to an HSA are tax-deductible, and withdrawals for qualified medical expenses are tax-free, making it an attractive option for freelancers and self- employed individuals looking to save on health care costs. Seek professional tax assistance. Finally, don’t overlook the importance of working with a qualified tax professional. A tax professional can help you navigate complex tax laws, maximize deductions, and ensure compliance with IRS regulations. While it may be tempting to handle your taxes on your own, investing in professional tax preparation services can ultimately save you time, money, and stress. For assistance with you tax planning needs, contact Ben Golden at our sister company : Golden Tax Relief GoldenTaxRelief.com | 844-229-8936 Info@goldentaxrelief.com
CASE SNAPSHOT Client: Staffing Company
Type of IRS Issue: Corporate Taxes Tax Year in Question: 2016–2018 IRS Claimed Liability: $19,625,559.58 Savings: $19,625,559.58
INGREDIENTS
Recently, our client faced a daunting challenge: They received a notice of a proposed levy from the IRS, as outlined in Letter 1058, covering tax years 2016, 2017, and 2018. The total amount in question exceeded $19 million, including penalties and interest stemming from a client software issue. This led to the rejection of Forms 1094/1095 (Employer-Provided Health Insurance Offer and Coverage). Understandably, this situation was incredibly stressful for our client. After thoroughly investigating the case, we discovered a promising avenue for resolution and took the initiative to challenge the initial decision by appealing to the IRS Appeals Court. We focused our request on obtaining penalty relief and the abatement of civil penalties. We’re thrilled to announce that WE WON! This victory marks a fresh start for our client, clearing the slate and opening new doors for their financial future. We are thankful to be entrusted with this crucial task. Remember that we’re here to navigate the complexities of tax law, ensuring the best possible outcomes for those we serve.
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Nonstick vegetable oil spray 2 cups all-purpose flour, extra for dusting 5 tbsp sugar, divided 1 1/2 tsp baking powder
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3/4 tsp baking soda 3 tbsp chilled unsalted butter, cubed
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1 cup buttermilk 2/3 cup raisins
1/2 tsp kosher salt
DIRECTIONS
1. Preheat oven to 375 F. Coat an 8-inch round cake pan with nonstick spray. 2. In a bowl, whisk together flour, 4 tbsp sugar, baking powder, salt, and baking soda. Cut butter into the mixture with your fingers or a pastry knife until crumbly. Make a well in the center and pour in buttermilk. Gradually mix until dough comes together. Mix in raisins. 3. Using floured hands, form dough into a ball and transfer to pan. Sprinkle with remaining 1 tbsp sugar. 4. Bake bread for about 40–45 minutes or until golden brown and a tester stick comes out clean. Let bread cool in the pan for 10 minutes, then enjoy!
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1 Inspiring Hope in Financial Recovery Through Optimism 2 Enjoy Better Health With Fasting INSIDE THIS ISSUE
Tax Tips for Freelancers and Self- Employed Individuals
3 St. Paddy’s Irish Soda Bread
Win of the Month
4 The Ins and Outs of ESG Investment
ESG: The Present and Future of Ethical Investment HOW INVESTORS RANK ETHICAL BUSINESS PRACTICES
Investment and ethics can sometimes be at odds with one another. Historically, investors haven’t prioritized the moral implications of giving money to companies with dubious business practices. Today, some people hesitate to invest in companies that compromise their values, but with ESG, they can have a clear conscience. Environmental, social, and corporate governance (ESG) is a new investment approach that gives investors a real voice. What does ESG mean? E is the environmental category and refers to companies following sustainable business practices or creating products that combat
absolutely necessary for investors in social-oriented organizations. G gives investors a standard for corporate governance to ensure companies have equitable compensation for employees. Who determines what companies are ESG-conscious? Research firms like Bloomberg compile stats on a wide variety of companies to ensure investors know where they’re putting their money. Researchers look at annual reports, company structure, and other factors to determine ESG scores. They use a 1–100 scale; the higher the number, the better their ESG ranking. How do I invest in ESG? There are several methods to find and invest in ESG-conscious companies. Financial advisors specializing in ethical investing can lead you in the right direction, showing you companies with solid returns while following sustainable business practices.
Some prefer to put their money in ESG mutual funds. Experienced brokers and managers invest for you, picking organizations that show promise in growth and ethical impact. Some focus on specific parts of ESG, especially environmental investment. ESG is about Investing in your values. ESG investment is a revolution in ethical investing, streamlining the process to help ethically conscious companies. But it’s not an accident: A network of research firms, funds, and brokerages work to support this new method of ethical investing. You shouldn’t have to sell your soul to make money on your investments. The bottom line is to be smart about your investments. Do your homework before making any investment decisions so you can earn the best returns in a way most compatible with your values and financial goals.
climate change, deforestation, and other environmental concerns. S is for social, which emphasizes human rights and community relationships
— for example, fair trade certification, which warrants that producers of a product are fairly compensated for their work. This would be
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