The Law Of Attraction In Action – The Path of Desperation Vs Letting Go To Achieve Your Life Goals

We’ve all had those times in life where we wanted something so badly, that we could taste it, feel it, or hear it. You know what I’m talking about. It could be the girl of your dreams, the car of your dreams or just that dream job you’ve always wanted. One thing is for sure, we all have been there.

When it comes to wanting things really badly, the word that comes to my head is ‘desperation’.

From my experience, nothing drives a goal further away from you as desperation.

It’s kind of funny though that some schools of thoughts equate being desperate about a goal, or wanting it so badly, is showing the universe or God how serious you are about that goal or objective.

Oh really?

I personally think not. It is my experience that wanting something so badly, or being desperate about it only leads to one making the wrong decisions. You aren’t making decisions from the flow, or from joy or gratitude. No Way! When you are in a state of desperation, you are almost on the verge of feeling hopeless, or giving up completely (in a negative sense).

Here’s my friend’s account of his experiences after leaving university and in desperate need of money and support, and how he overcomes the challenges using the power of letting go:

” I was so desperate for money once, I almost got myself into a money laundering ring. The circumstances were interesting as I look back in retrospect. It’s almost as if some force was driving me to make the wrong decisions through financial desperation. Let me go further into details.

My girlfriend of four years at the time had broken up with me, saying that she needed ‘space’ at first, giving no obvious reason. When I look back, that was meant to protect me from the fact that she had met someone else who suited her material needs at the time. Note that we were both university students at the time.

So one month turned into three months, and then she begun to drop tidbits about the fact that she had started dating again, by hinting to me that I should start seeing other people. I told her no worries, as I’m in the process of seeking employment, so I’ll put that on the back burner.

I was a fairly decent lad at the time, not worrying much about money, and material things. My main concerns were keeping my mind, body and spirit active and positively engaged in beneficial pursuits.

What turned me to the ‘dark side’ was the call I received that fateful day from my then girlfriend who only wanted ‘space’. She called me explaining that she’ll be sending me some pictures of here with a new hairdo. I was like cool, because she knew I liked her haircuts short. So she sent me the pictures via email, and I saw her in this car; it was a really sexy drop top beetle. I thought …

Cashing in a 401k for an Offer in Compromise

Filing an Offer in Compromise (OIC) is an excellent way to reduce your delinquent taxes with the Internal Revenue Service. However when making an offer with the IRS the questions always comes up as to whether or not a taxpayer has to cash in their 401 k plan to when making an offer to the government.

In making an OIC with the IRS, the taxpayer has to provide a lot of financial information to the government. This includes not only information on bank accounts, real estate, and vehicles but also on any 401k plans or other retirement plans that a taxpayer may have.

So on the financial disclosure form 433-A, the taxpayer will disclose the value of his 401k plan less any loans he may have against his 401K. Yet if the taxpayer were to take a distribution from his 401k plan, then the taxpayer would be subject to additional federal income taxes and state income taxes. This would then just make the taxpayer’s tax debt increase so what should a taxpayer do?

In this scenario, the taxpayer should disclose on form 433-A the value of his 401k less his loans, less the federal tax and less the state tax. For example let’s assume that John is 45 and is making an OIC to the IRS and he has $40,000 in his 401k plan. John has a $10,000 loan against his 401k plan so his net amount that he could take as a distribution is $30,000.

In regards to the taxes on this potential distribution, John would have to pay a 10{512b763ef340c1c7e529c41476c7e03bc66d8daea696e1162822661d30dde056} penalty for an early distribution since he is under the age of 59 ½. His federal tax rate is 25{512b763ef340c1c7e529c41476c7e03bc66d8daea696e1162822661d30dde056} so the total federal taxes associated with this distribution would be 35{512b763ef340c1c7e529c41476c7e03bc66d8daea696e1162822661d30dde056} and John’s state tax rate is 5{512b763ef340c1c7e529c41476c7e03bc66d8daea696e1162822661d30dde056}. So the total federal and state tax burden would be 40{512b763ef340c1c7e529c41476c7e03bc66d8daea696e1162822661d30dde056}.

This would then leave only 60{512b763ef340c1c7e529c41476c7e03bc66d8daea696e1162822661d30dde056} of the $30,000 or $18,000 as being eligible to pay off the delinquent taxes with an Offer in Compromise. This $18,000 is the dollar amount that John should disclose on form 433-A when he is making his offer in compromise to the IRS.

Preparing a successful offer in compromise is extremely time consuming and technical in nature. If you have delinquent taxes with the IRS and want to settle by making an OIC, then you should seek the professional assistance of an experience professional such as the author of this article, Michael McNamee.…