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From Tragedy to Unity:
“MAMA ALWAYS SAID, ‘YOU CAN’T DO WRONG BY DOING RIGHT.’”
REMEMBERING 9/11 AND THE SPIRIT OF PATRIOTISM THAT BROUGHT US TOGETHER
Mama always said, “You can’t do wrong by doing right.”
Over the following weeks, months, and years, this sense of patriotism seemed to consume the nation. We stood up together. We looked out for each other. We cared — truly cared — about our neighbors. Just like how the emperor of Japan said the tiger from the West awoke in World War II, something sparked in all of us. We took pride in our country, and we loved each other. We set differences aside, and in a state of peril and destruction, we made the best of it. It’s terrible that it took such a gut-wrenching event to unite us, but it did. If anything good came out of these attacks, it was our response. Twenty-two years later, I feel like some of this patriotism and love has sadly been lost. We judge the opinions of others, unfortunate stories appear in the news, and some aren’t very kind. Many of us only focus on what is directly in front of us, and we no longer pay attention to one another in a meaningful way. It’s time to stand up and value each other, respect the opinions and views of others, and remember the unity our nation was founded on. The United States of America is a fabulous country to live in — we have freedom and opportunity. We can work and make something of ourselves. Reflecting on the contributions of others and the unity we saw two decades ago is the key to keeping the past alive and the future alive. History is an excellent indicator of what the future holds, and kindness toward others doesn’t cost a thing. That courtesy can brighten someone’s day and put a smile on your face, too.
It’s been two decades since Sept. 11 — how time flies. So much has changed and taken place, but the memory is still vivid. That morning, I was on the subway heading to school — it was a typical day, just like any other. I was in my master’s program in San Francisco, and during the commute, we received the notification the first tower was hit. Anxiety, confusion, worry, and fear consumed me all at once. What was going on? Are my family and friends okay? Is my country okay? I didn’t have a cellphone — the disconnect never felt so lonely. They turned us around to keep us out of the city, and it was a long and quiet subway ride back to my car. From there, I drove straight home to turn on the news and figure out what was going on. At the time, my wife was an RN in the medical facility in the Air Force, and she was working. They had closed down the base,
and she couldn’t come home, and I couldn’t get in touch with her — my anxiety increased even more. It was in this moment, when I felt defenseless and fearsome, that I had a mental shift. I didn’t need to be an accountant. I needed to enlist in the military, stand up, and fight for my country.
SEPTEMBER 2023
WWW.IRSTROUBLESOLVERS.COM Mama was right — you can’t do wrong by doing right! -Ben Golden
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GET YOUR HOME FALL-READY
Q4 is rapidly approaching, so it’s time to start exploring various deductions, credits, and incentives that can help you save money and reduce your overall tax liability. Grasping a firm understanding of these tax-saving strategies can put money back in your pocket. Don’t forget about deductions. Expenses or contributions that can be subtracted from your total taxable income to reduce the amount subject to tax are known as deductions. Standard deductions are a fixed amount of money you can deduct from your taxable income — this varies based on your filing status but is a simple option if you don’t have many itemized expenses. Then, itemized deductions are for those with many qualifying expenses such as medical expenses, mortgage interest, charitable contributions, state and local taxes, and various work-related expenses. For example, teachers and educators can deduct up to a certain amount for all out-of-pocket expenses that benefit their students and classrooms. BOOST YOUR Uncover Deductions, C
Simple, Affordable DIY Projects You’ll Love
Housewares stores are currently full of cute autumn decor, but the cost of refreshing your house’s look each season adds up quickly. Fortunately, you can do a lot for less. Many DIY crafts are not as complicated as you might think. In addition to saving money, you’ll create personalized charm none of your neighbors can match. Repurpose your pumpkins. Small gourds are incredibly versatile. Just sprinkling a few around your dining room table or mantle makes it feel like fall. But you can quickly elevate them using metallic paint to add cute designs, phrases, or names. Another option is to wrap seasonal fabric around them like a pouch, gathered at the stem. If you feel more ambitious, you can also use pumpkins to make succulent planters. Cut a crater in the top of the pumpkin, pop in the succulent and soil, and press the dirt until snug. Light up the night. The soft glow of a lantern or candle is the perfect way to get the cozy vibes started. Instead of succulents in the top of your pumpkin, you can set wax and a candle wick to create something unique. If you’re bored with pumpkins, try the same with acorn caps. An even simpler idea involves glazing real or fabric leaves on the outside of mason jars with craft glue. Then add decorative stones and a wax or battery-operated tealight for a seasonal twinkle. Decorate your door. Wreaths are a DIY staple for several reasons. They’re easy for beginners to make and can set the tone for your home by offering visitors an autumnal focal point. You can buy a variety of starter wreaths at the craft store, so find one that suits your taste. Then pick up other supplies like leaves, pine cones, dried corn, and ribbon. Now you’re ready to hot glue to your heart’s content and create something distinctive. If you need further ideas, look closer the next time you shop. Many of the fun fall items for sale aren’t very difficult to make yourself with a few minor adjustments and a little creativity.
Take advantage of credits.
Tax credits provide a dollar-for-dollar
reduction in tax liability, a great tool for maximizing tax savings. Unlike deductions
Cozy French Onion Soup
Inspired by TasteOfHome.com
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TAX SAVINGS: Credits, and Incentives that reduce your taxable income, credits will reduce the tax you owe. Some key tax credits include child tax credits, earned income tax credits, and lifetime learning credits. If you have qualifying dependent children, are a low-to-moderate income worker, or have eligible education expenses, including tuition and fees, contact us to learn how to benefit from these credits! Remember tax incentives. Tax incentives are specific provisions designed to help encourage specific investments or behaviors and provide an opportunity
WIN OF THE MONTH Aloha, Debt!
to receive a tax benefit. Tax incentives include retirement account contributions to your retirement accounts (401(k)s and IRAs), energy-efficient home improvements, and small- business deductions. In order to maximize your savings, it’s crucial to keep deductions, credits, and incentives in the forefront of your mind every time tax season comes around.
Be sure to stay informed about changes and updates to tax laws and regulations, and as always, give us a call with any questions you may have — we are always here to help!
CASE SNAPSHOT Client: Maui, HI, Resident Type of IRS Issue: IRS Error Tax Year in Question: 2015–2021 IRS Claimed Liability: $502,918.35 Savings: $488,790.35
INGREDIENTS
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2 32-oz cartons beef broth
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5 tbsp olive oil, divided
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Salt and pepper, to taste
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1 tbsp butter
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24 slices baguette (1/2- inch thick)
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8 cups sliced onions
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3 garlic cloves, minced
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3/4 cup shredded Gruyere cheese
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1/2 cup port wine
We serve clients all over the United States — even in Hawaii! When this client first contacted us, she was anxious because she hadn’t filed personal or business taxes in many years. After putting her at ease and taking her under our wing, we immediately started planning so we could determine the appropriate action to take. Once we had a game plan, we explained the entire plan to our client and got to work. As the saying goes, good things come to those who wait. It took us 31 months to complete an Offer in Compromise. Our plan changed slightly over the course of the process, 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 could say “Aloha” to the $502,918.35 original liability and pay under $15,000 to settle her debt!
DIRECTIONS
1. In a Dutch oven, heat 2 tbsp oil and butter over medium heat. Add onions and cook until softened, then reduce heat. Occasionally stir until brown (around 30 minutes). Add garlic and cook for 2 more minutes. 2. Stir in wine and bring to a boil. When liquid has reduced by half, add broth, salt, and pepper. Bring to a boil, reduce heat, and simmer for 1 hour. 3. Preheat oven to 400 F. On a baking sheet, brush baguette slices with remaining oil. Bake until golden (3–5 minutes each side). 4. In 12 broiler-safe 8-oz bowls, place 2 toast slices and pour soup into each. Top with cheese and broil until melted.
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1 Remembering 9/11 and the Spirit of Patriotism That Brought Us Together 2 Simple, Affordable DIY Projects You’ll Love INSIDE THIS ISSUE Boost Your Tax Savings: Uncover Deductions, Credits, and Incentives 3 Cozy French Onion Soup Win of the Month 4 Want to Protect Your Assets? Avoid These Inclusions in Your Will
Avoid These Inclusions in Your Will WANT TO PROTECT YOUR ASSETS?
You may want to be as proactive as possible when it comes to crafting your will, but some additions might become a hindrance later on. Some forms of property and personal wishes are even better if you leave them outside the will. So, including everything in your will might do the opposite of protecting your assets and result in your loved ones having to deal with the aftermath. Before writing your will, learn what you should never include in order to keep your legacy safe. First, you must never add your business to your will. All wills must go through a probate process, which can take a significant amount of time. Not only can the time delay cause issues with your business, but this probate process also opens the door for someone to challenge your will and whatever wishes you intend for your business. You don’t want your will or the company you worked so hard to operate to be subject to this challenge. Instead, work with your lawyer to create a business succession agreement to bypass these problems entirely. Second, everyone should avoid placing their funeral wishes and preferences in their will. Your will can take multiple weeks before it’s consulted, and by then, your funeral wishes may have been completely ignored. Rather than adding these desires to your will, leave them in
a letter to your closest relative so they can have it on hand when the time comes.
One of the most crucial elements to keep out of your will is any assets or funds left for a child with special needs . If you leave funds for them in your will, the government can cut any federal benefits they may be receiving, which can cause a significant reduction in their income. Instead, you should create a special needs trust, which will set money aside for your child that will supplement their government benefits. Lastly, your will should not include any assets or desires you have for your pets . No pet has any lawful claim to an estate or property. After you designate a guardian for your pet in the event of your passing, you should make arrangements directly with them about your wishes and what you want to leave for your pet. Another great option is to create a pet trust that officially establishes funds meant for your pet’s care and well-being. This is just a quick list of additives that may be harmful when left in a will. To learn more about what should and shouldn’t be included in a will, speak with an experienced estate planning attorney who can help you properly place your property and final wishes.
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