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Kindness Doesn’t Cost a Thing
“BEING KIND WHEN SOMEONE IS IN NEED IS A GENTLE WAY TO SHOW THE WORLD YOU CAN MAKE A DIFFERENCE.”
SPREAD WARMTH AND COMPASSION
Growing up in a small town in Alabama, my mama always reminded me, “You have to kill them with kindness.” As a child, this was drilled into my head — I knew that whether I interacted with friends, needed help from a peer, or responded to someone who may not have treated me as nicely as they should have, I had to be friendly. After all, you catch more flies with honey!
donations, or gratitude. For me, smiling at people, holding the door for a stranger, or buying coffee for the person behind me in line are small acts of kindness that go a long way — sometimes much further than you realize. It’s all about going above and beyond to ensure people feel appreciated, cared for, and valued. I let this mentality carry over into our core values at IRS Trouble Solvers. When clients seek our assistance, they are at some of the lowest points in their lives. Fear, confusion, anxiety, and worry consume them, and they aren’t sure where to turn. In addition to providing them with peace of mind and doing our best to take them under our wing, we are kind, understanding, and human. We value genuine kindness and authentic human interaction. Being kind when someone is in need is a gentle way to show the world you can make a difference. The best part is that kindness is free. It doesn’t cost anything to do good for others, and these small acts mean more than anything money can ever purchase. We never know what others are going through, but we can always ensure they feel warmth, value, appreciation, and kindness. Life is challenging and draining at times. And when you need encouragement from someone else, hopefully, that kindness will return to you. You can always do something to brighten someone’s day — let’s share the warmth! -Ben Golden
I’ll never forget when I left the South and moved to California; it was a bit of a culture shock. At home in Alabama, I
lived in a small, tightknit community where everyone (mostly) knew or at least recognized each other. We all felt at home. On the West Coast, everything felt much larger, and people seemed more disconnected. I noticed because it was just in my blood to greet everyone, and this gesture threw a lot of people off. When I’d smile and wave at a stranger, many looked at me like I had a third eyeball. This month, we celebrate World Giving Day, an opportunity to give a little more to others, whether our time, patience, kindness, belongings, money,
JUNE 2023
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Have you ever heard that filing for bankruptcy can be your answer regarding clearing tax debt? It’s a common misconception that bankruptcy can clear all IRS debt, but sometimes, delinquent taxes can be discharged via bankruptcy. But specific guidelines must be followed and criteria must be met. A tax discharge is the cancellation of the most unsecured tax debts. However, following the Bankruptcy Abuse Prevention and Consumer Protection Act, most tax debts are not dischargeable, including federal tax liens on your property before filing or bankruptcy, fraud penalties, payroll taxes, recent property taxes, and certain employment taxes. Chapter 7 bankruptcy is a relatively quick process that only takes a few months. But it only applies to individuals who have likely acquired little to no equity and don’t have much. To qualify for bankruptcy, a person’s average monthly income over the past six months must be lower than the median income in their home state. WAIT!
MONKEY AROUND THIS SUMMER
Check Out Some of America’s Best Zoos
Summer is one of the best times of the year to travel. Kids are out of school and want to do something fun every weekend, which can be difficult to accommodate if you’ve already exhausted your local options. If you’re looking to travel, you can visit a beach, take in the sights and sounds of an amusement park, or spend some time with animals while visiting a zoo. Nearly every state in our country has a handful of zoos or aquariums, but some stand above the rest.
For tax debt to be dischargeable in Chapter 7 bankruptcy, all of the following conditions must be met:
Here are three of the best zoos you can visit in the U.S.
Seafood Pasta Salad
Omaha’s Henry Doorly Zoo and Aquarium The Henry Doorly Zoo and Aquarium in Omaha, Nebraska, is consistently ranked as one of the top five zoos in the world. It prides itself on hosting rare, endangered animals you can’t see elsewhere. It has the world’s largest nocturnal exhibit, and one of the major highlights is the Desert Dome, an 84,000-square-foot indoor desert that maintains an authentic desert ecosystem. This is a must-visit for any animal lover in your family. The Bronx Zoo You don’t usually think about seeing exotic animals when you visit New York City, but the Bronx Zoo is one of the best places to view animals in America. Opened in 1899, the Bronx Zoo is responsible for many of the advancements relating to animal captivity. This was one of the first zoos to ditch cages for natural environments and create an animal hospital. With over 6,000 species, there’s an animal for everyone at the Bronx Zoo. The Living Desert Zoo and Gardens While the San Diego Zoo is often boasted as California’s largest and best zoo, another zoo is worth checking out. The Living Desert Zoo and Gardens outside Palm Springs has entertained visitors for decades. There are events at this zoo every day, one of the most popular being the keeper connections and animal encounters, where you get up close and personal with the animals while learning more about their habitats and lifestyles.
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Before You File for a Chapter 7, Chat With Us First! • The debt must be income taxes, as they are the only dissolvable type of debt. • The IRS must have assessed your income tax at least 240 days before you filed for bankruptcy. • The tax debt must have been due at least three years before filing for bankruptcy. Also, taxes will not be discharged if fraudulent returns were filed or an individual knowingly attempted to evade tax payments. Certain jurisdictions may have additional requirements, such as a history of filing tax returns promptly. Filing for bankruptcy is not a decision to be taken lightly, and it’s paramount to remember that bankruptcy does not mean you can escape all your tax debt. Chapter 7 bankruptcy will
WIN OF THE MONTH Sometimes, Switching Gears Is the Answer! CASE SNAPSHOT Client: North Carolina Resident With House and Family in Illinois
not help you deal with unfiled tax returns, recently filed tax returns, and trust-type taxes and can potentially leave you with lingering complications. Your credit
score may also take a plunge. Thus, before considering filing for bankruptcy to achieve
tax relief, consult one of our trusted tax relief specialists today! We are here to help.
INGREDIENTS
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4 cups fusilli noodles
2 cups crab meat or shrimp
2 cups shredded cheddar cheese
2 cups ranch dressing
Type of IRS Issue: IRS Error Tax Year in Question: 2014 IRS Claimed Liability: $10,840.00 Savings: $8,942
1 cup frozen peas, thawed
1/2 cup chopped green peppers 1/2 cup chopped red peppers
1/2 cup diced onions 1/2 cup shredded carrots
2 cups halved cherry tomatoes
1/2 cup of Parmesan cheese (optional)
DIRECTIONS
Our client came to us nervous and confused with a proposed tax liability from the IRS of $10,840 from the state of Illinois. The client resided and worked in North Carolina, and his wife lived in Illinois. The state calculated his tax, forgetting to include the credit for the North Carolina taxes the family had already paid. We got right to work, created the correct Illinois return, and were able to save our client $8,942! This was not the original scope of our engagement, but we were able to pivot and get a great outcome for or client!
1. In a large pot, bring the fusilli noodles to a boil and cook until al dente, then drain. 2. In a large bowl, combine noodles, crab or shrimp, cheddar cheese, ranch dressing, peas, green and red peppers, onions, and carrots, then mix together gently. 3. Refrigerate the pasta salad for 3–4 hours. If salad is dry upon removing from refrigerator, add more ranch dressing. 4. Once you’re ready to eat, top salad with tomatoes and Parmesan cheese if desired.
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1 Kindness Makes the World Go ‘Round 2 Lions and Tigers and Bears, Oh My! Consult With Us Before Filing for a INSIDE THIS ISSUE
Chapter 7 Bankruptcy Seafood Pasta Salad
3 Win of the Month 4 How to Sound More Financially Savvy
Starting With These Must-Know Terms LEARN THE SECRET LANGUAGE OF FINANCE
friendly, socially responsible, and well-run potential investments are 9. Fannie and Freddie: Fannie Mae and Freddie Mac, the U.S. government-created home mortgage investment companies 10. Fixed Income: Investments that pay a guaranteed return, like government and corporate bonds 11. Liquidity: How easy it is to convert an asset like a home, car, or bank account into cash 12. Venture Capital: Money or expertise loaned to a start-up company or entrepreneur to fund their business
The world is changing rapidly — and that includes how people spend, save, and invest money. If you’re not a professional in the financial industry, the pace of these changes can seem daunting. One day, cryptocurrency is all the rage and the “smartest” investment around. The next, crypto entrepreneur Sam Bankman-Fried is buried in lawsuits, and banks are collapsing! It’s a crazy world out there, but you can start demystifying it by learning core business and financial terms. Brushing up on these buzzwords will help you develop your financial skills, make it easier to understand the news, and give you more confidence when making money decisions and talking to financial advisors. Here are several finance terms everyone should know beyond the basics.
1. Adjusted Gross Income: Your annual income minus your tax deductions 2. Annual Percentage Rate (APR) : The amount banks charge you for your loan (or you earn from an investment) each year 3. Bear Market: A “bad” market, when the prices of stocks and other securities fall 20% or more 4. Blockchain: A shared, decentralized ledger of transactions that makes it possible to track assets like cryptocurrency 5. Bull Market: A “good” market, when the prices of stocks and other securities rise 20% or more
6. Cryptocurrency: Digital currency that is not backed by a government or bank 7. Dividend: A portion
of company profits regularly paid out to shareholders 8. ESG Investing: Environmental, Social, and
Still have questions or want to learn about a term not on this list? Check out Investopedia’s Financial Term Dictionary by visiting Investopedia.com and clicking “Dictionary” at the bottom of the page.
Governance Investing, a framework investors use to evaluate how eco-
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