Cincinnati Tax Resolution - June 2022

Cincinnati Tax Resolution - June 2022

JUNE 2022 VOLUME 6, ISSUE 6

TOPH’S TAX RESOLUTION TIMES

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5 MOVIES TO (RE)WATCH THIS SUMMER HAVE YOU SEEN ALL OF MY FAVORITES?

After last month’s sad newsletter, I wanted to send you something more fun today, and I thought, “What’s more entertaining than movies?”

Ashley and I love to get ourselves some movie theater popcorn and enjoy a nice little date night at the theater. We had to put that practice on hold for a long time because of the pandemic, but now we’re back in action. The hardest thing for us is agreeing on what to see. We both like mystery movies and suspense, which is good. But I’m not into the blood and gore of horror or the aliens and space themes of fantasy. I prefer a good romantic comedy (as long as it’s not gimmicky), a drama, or a documentary. Lately, I’ve been more into binging TV shows like “Inventing Anna,” “Squid Game,” and “The Dropout” rather than watching movies, because the recent ones haven’t lived up to my old favorites. So, for nostalgia’s sake, I gathered those into a watch list for you. I hope you’ve seen them all, but if not, I’d highly recommend seeing them this summer. 1. ‘Tin Cup’ — People say “Caddyshack” is the best golf movie, but I think it’s a far cry from “Tin Cup.” This film from the ‘90s starring Kevin Costner is easily my favorite movie of all time. It follows a professional golfer who is older, drunk, and washed up, making $10 per hour at a driving range in the middle of nowhere. After lamenting that he never made much of himself, he decides to try to qualify for the U.S. Open and ends up falling in love, too. “Tin Cup” came out when I was a teenager and just getting into competitive golf. I was really drawn to it because Kevin Costner seemed to be saying, “If I can qualify for the U.S. Open, anyone can!” I’ve probably played in 15 U.S. Open qualifiers since then and I’ve never qualified, but watching the movie still brings back the magic of that time. 2. ‘For Love of the Game’ — This is another Kevin Costner sports movie, but it’s also a drama and a sappy romantic comedy — two of my favorite things. If you like baseball and want to watch an aging pitcher figure out his love life and career, I definitely recommend it. 3. ‘Back to the Future’ — Yes, “Back to the Future” came out in 1985, but for me it never gets old. I could watch Marty McFly and the DeLorean travel 30 years into the past to make his parents fall

in love 100 times without getting bored. The premise is interesting, and Michael J. Fox and Christopher Lloyd play their parts so well. No matter what I’m watching, if I’m scrolling the TV Guide and see “Back to the Future” is playing, I’ll always change the channel. 4. ‘American Pie’ – This probably dates me, but when “American Pie” came out in 1999, I was the exact same age as its characters: just finishing high school and going into college. I loved the comedy of it — the plot follows four friends who make a pact to lose their virginities before graduation — but I also related to how it portrayed the awkward, silly, hilarious behavior of teenagers. Today, I rewatch “American Pie” because it makes me feel young again. 5. ‘Gone Girl’ – I don’t want to spoil this movie for you, but I will say that I loved the twist and the elaborate planning that went into the plot. I’m a big fan of movies with schemes and coverups, and this 2014 story of a woman gone missing and her husband’s quest to find the truth definitely fits the bill.

Next time we get a rainy day, I hope you consider watching one of these movies. You won’t regret it.

–Toph Sheldon

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And Gain Long-Term Business Success! UNLOCK YOUR ‘HIGH PERFORMANCE HABITS’

Did “Atomic Habits” by James Clear change your life in 2018? Was “Tiny Habits” by BJ Fogg one of your top books of 2019?

YEP, THE IRS IS STILL SLOW How to Keep Them Happy While You Wait

If you’ve read those two bestsellers, you’re a step ahead of most entrepreneurs. But you might still be sleeping on one of the original books on the power of habits, which is packed with gems you can’t find anywhere else: Brendon Burchard’s 2017 read “High Performance Habits: How Extraordinary People Become That Way.” Brendon Burchard is a legend in the world of personal development coaching. Oprah.com called him “one of the most successful online trainers in history,” and more than 2 million people have taken his online courses. But with the help of your local library, you can start learning his secrets to success without paying a cent. In “High Performance Habits,” Burchard recommends six specific habits that will help you reach your personal and business goals. He calls this the HP6 model.

This spring, I shared a not-so-fun IRS update with you, explaining why the agency was taking 12–18 months to resolve back tax cases. I hoped that by now I’d have good news, but unfortunately, we’re still in the same situation! Your Summer IRS Update Most industries have adjusted to the pandemic now, but the IRS still hasn’t gotten it together. Here’s a quick reminder of why their negotiations remain so slow, no matter how hard I work to hurry them along. • In 2020, the IRS shut down from March–July. This created a huge backlog of electronic and paper documents that needed to be sorted. Playing catchup took six months, and the agency’s pace never truly recovered.

1. Seek clarity. 2. Generate energy. 3. Raise necessity. 4. Increase productivity. 5. Develop influence. 6. Demonstrate courage.

• Just as the IRS was getting back to normal in late 2021, the omicron variant hit. Hundreds of IRS staff caught the virus and called out sick.

As you can see, these aren’t your basic healthy habits like “drink water” and

“get eight hours of sleep”! Burchard calls the first three “personal habits” and the last three “social habits,” and in the book he uses real-life examples to explain each habit. He also offers daily exercises that will help you form them. It takes multiple keys to unlock each habit. For example, to demonstrate courage, Burchard says you must “share your truth and your ambitions” by telling someone about your goals every day. But that alone isn’t enough. To truly form the habit, you also need to reframe struggle and zero in on someone worth fighting for — whether that’s your team, your clients, or your children. “High Performance Habits” is a business book, but it’s also a personal development book. It will force you to dive deep into your strengths, weaknesses, and motivations to unlock your real high-performance potential. You can use it to fit more tasks into a day, increase your confidence, or become a better leader — whatever your business needs! Pick up a copy today to see why Andrew Burns of Medium calls this “the epitome of a book that needs more than one read.”

• In late 2021, that lack of staff led to poor customer service and extremely slow response times. New hires are under-trained and overwhelmed.

If you’re waiting on a resolution to your tax problem, please be patient. I’m working as hard as I can to push all of my clients’ cases through the system. In the meantime … Keep the IRS Happy — Whether You’ve Resolved Your Debt or Not To keep the IRS happy and make any potential future negotiations easier, you need to stay in compliance. For many people — including freelance contractors, business owners, and anyone else who expects to owe more than $1,000 to the IRS come Tax Day — that means making estimated quarterly tax payments. You can make these quarterly payments using Form 1040-ES (found at IRS. gov/pub/irs-pdf/f1040es.pdf ). The first estimated payment was due on April 18, but even if you missed it, you can make the second one that’s due June 15. If you don’t make these payments, you may face a penalty for underpayment — which is the last thing you want to deal with. If you have questions about these payments, just let me know. I’m here to help.

–Toph Sheldon

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ASHLEY’S CORNER I Know Toph’s Dad Secret

Years ago when our kids went to day care, Toph was usually the one who dropped them off in the mornings. Then, one day, I took a turn on my way to work at the hospital. After Mac, Rex, and Roz ran inside, I noticed a couple of other kids moping around near the door.

the football, wrestling, riding bikes, jumping on the trampoline, or playing their all-time favorite game: Dino Catch.

Dino Catch is pretty much what it sounds like. The boys pretend to be dinosaurs and run into the yard to hide in bushes or duck behind trees. Then, Toph heads out to find them and chase them all over the place! It’s like a mix between hide and seek and tag, with dinosaurs thrown in. The boys love it. I think if you polled our kids with the question, “What do you like most about Dad?” Dino Catch would be at the top of the list, along with bike rides and their nightly walks to find creatures at the creek (what they call creekin’). We just got Roz her first bike so that she can join the boys for rides, and she’s so excited to go with Dad. I love that Toph is up for being “the fun parent.” To be honest, I don’t want to chase the kids all over the yard! We complement each other really well. This Father’s Day, I’m going to give him props for that.

“Oh, don’t worry about them,” the day care provider told me. “They’re just sad that Toph didn’t bring your kids today. He lets them climb all over him! They love to wait for him at drop-off.” That memory popped into my head today when I was thinking about what makes Toph such a great dad. What’s his secret? I think the answer is that he’s just a big kid at heart! Sometimes when people ask if we’re having a sixth kid, I like to joke that I already have one. Toph has always been “the fun parent.” Whenever Mac’s little friends come over for playdates, the first question they ask is “Where is your dad?” They know that if he’s home, he’ll be up for anything: throwing

Take a Break

SWEET AND SPICY BBQ CHICKEN SKEWERS

Ingredients

Directions

FOR THE MARINADE • 1 tbsp olive oil • 2 tbsp soy sauce •

1. In a bowl, whisk together marinade ingredients. 2. In a reusable freezer bag, combine cubed chicken and all but 1/4 cup of the marinade. 3. Seal bag and massage marinade into the chicken. Chill in the fridge overnight. 4. The following day, preheat the grill to 400 F. Thread chicken and pineapple onto skewers, adding two cubes of chicken for each cube of pineapple. Grill the skewers for 3–4 minutes per side, brushing with the reserved marinade in the final minutes. 6. Serve over rice or with your favorite barbecue sides! 5.

2 tbsp chili garlic sauce

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2 tbsp rice vinegar

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3 tbsp honey

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Juice of 1 lime

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3/4 tsp smoked paprika

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1/2 tsp salt

FOR THE SKEWERS •

2 lbs chicken breast, cut into bite-size cubes 1 small pineapple, cut into 1-inch cubes

Solution on Page 4

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Inspired by RecipeRunner.com

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Cincinnati Tax Resolution Powered by Toph Sheldon 9200 Montgomery Rd., Ste. 7B Cincinnati, OH 45242

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INSIDE 1 Toph’s Top 5 Movies

2

Read This Book to Boost Your Performance

Resolved Your Debt? How to Keep the IRS Happy

3

Ashley’s Corner: Toph’s Dad Secret

Sweet and Spicy BBQ Chicken Skewers

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Tax Trouble in Oz

DID THE IRS RUIN JUDY GARLAND’S LIFE?

Terrible Tax Trouble From History

These were just the first of many injustices and misfortunes that eventually brought Garland into conflict with the IRS. In April 1958, The New York Times reported Garland had paid off a debt of almost $9,000 to the New York State Tax Commission, and in the early 1960s, the IRS reportedly came after her for $4 million in back taxes. There are conflicting accounts over whether Garland owed federal tax, state tax, or both, but sources agree the IRS repossessed her home in 1964. This left the actress — who was divorced four times and spiraling into addiction and self-harm — to live out of hotels and rental houses until her death in 1969.

Judy Garland’s story is incredibly sad, and it teaches us two important lessons:

1. Sometimes circumstances conspire to put someone in IRS debt. Whether the problem is a divorce or an addiction, often the person in debt isn’t to blame. 2. It’s vital to employ a tax resolution specialist to prevent serious IRS enforcement actions like the seizure of property. It’s hard to say whether Judy Garland had representation, but if she did, they sadly didn’t work hard enough to help her.

Actress and singer Judy Garland was a superstar in the 1940s and ‘50s after landing the lead in “The Wizard of Oz,” but by many accounts, her life wasn’t easy. According to IMDB, as a child, she was forced into a grueling stage career, and her family sometimes lived out of their car. Her father died when she was young — just a few years before drugs for weight loss and alertness (prescribed by movie studio doctors) launched her into addiction. To add insult to injury, for “The Wizard of Oz,” Garland made just $500 per week: one-sixth of the amount earned by the Scarecrow and the Tin Man.

If you know someone in a terrible situation like Judy Garland’s, remind them not to lose hope. A tax resolution specialist can still fight for them.

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DON’T LIVE IN FEAR - TOPH IS HERE!