Johnny Depp Loses $650 Million and $100 Million Late in Taxes

Guest: Dr. Michael Grayson via Phone, Skype, or Zoom

Intro: Silver screen superstar Johnny Depp just revealed he lost $650 million and owes the IRS $100 million. But he's not alone during the new normal of our coronavirus era. 

Credit counselor Dr. Michael Grayson joins us to discuss responsible financial management including how to maintain or regain good credit. 

Q&A: 

1. IF JOHNNY DEPP LOST $650 MILLION TO BAD INVESTMENTS AND MONEY MANAGEMENT IS HE STILL LIABLE FOR $100 MILLION IN BACK TAXES?

a. ANSWER: YES, UNFORTUNATELY MANY HIGH NET WORTH INDIVIDUALS FIND THEMSELVES IN THE SAME POSITION

b. BUT IN THIS SITUATION THERE IS A RIGHT WAY TO PAY THIS DEBT AND A WRONG WAY.

2. WHAT PERCENTAGE OF RELATIONSHIPS END IN DIVORCE BECAUSE OF FINANCES?

a. Almost 50 percent of all marriages in the United States will end in divorce or separation. 60 percent of second marriages end in divorce.  73% of all third marriages end in divorce

b. One of the most common causes of divorce centers around money issues. Financial issues can make married couples crazy because money touches so many parts of all people's lives. No matter how much money you have (or do not have), there's always the issue of money as a primary connector in marriage. 

That means it's also a primary flashpoint for arguments and in many cases, a motivating factor in divorce.  Money issues can wreck a marriage in so many different ways.  Spouses who are reckless with credit cards can run up large debts without the knowledge of their spouse. One spouse can make considerably more than the other, creating earning/control issues.  Each spouse may have different ideas on long-term financial goals. One spouse wants to "live for today" while the other wants to put every extra penny toward retirement.  One spouse wants a new car every two years while the other is happy to drive any vehicle that is already paid off.  

Money can be especially important to the degree that you don't have it. When one spouse or the other loses a job or significant unexpected financial setbacks take place (think job loss, health crises, etc.), it can cause a big squeeze on family finances that may last for months or even years.  Money issues cause stress. Stress chokes off communication. A lack of communication leads to breakdowns in trust. And the result is often divorce.  

Money issues are tough, but the best way to resolve them is to create a budget and long-term goals and stick to them. Make a concerted effort to keep the lines of communication open regarding financial interests, especially during challenging times.  You probably won't completely avoid disagreements about finances in the course of your marriage. But just like all other marital problems, if you face money challenges with honesty and as a team, your marriage has a much better chance of surviving.

3. HOW CAN YOU AVOID TAX DEBT LEGALLY?

a. IRS HAS ONE OF THE BEST DEBT FILTERS IN THE COUNTRY

b. AN OFFER IN COMPROMISE can eliminate 90% of taxes due. 

4. WHAT IS A DEBT FILTER?

a. A DEBT FILTER IS A GOVERNMENT PROGRAM OR LAW THAT HELPS YOU TO ELIMINATE YOUR DEBT USING CANCELATION AND FORGIVENESS, WHILE SIMULTANEOUSLY PRESERVING YOUR CREDIT WITHOUT PAYMENT, BANKRUPTCY, CONSUMER CREDIT COUNSELING OR DEBT CONSOLIDATION

5. WHAT DEBTS CAN I CANCEL?

a. EVERY DEBT HAS A CORESPONDING DEBT FILTER?

b. TECHNICALLY IT IS IMPOSSIBLE TO BE IN DEBT IN AMERICA

6. * What is the overall strategy for small businesses to survive the coronavirus?

7. * Do I have to pay back the SBA assistance?

ABOUT DR. GRAYSON'S BOOK: 

https://tinyurl.com/GraysonBook2/

ABOUT DR. MICHAEL C. GRAYSON…

Dr. Michael C. Grayson has a proven track record of over 20 years for helping businesses receive funding. 

Dr. Grayson currently holds all three credit industry records including the world's highest credit score. 

Dr. Grayson provides one-on-one consultation and hands-on processing services every step of the way for individuals and businesses needing assistance with SBA funding or credit management.

INTERVIEW DEMO:

One America News with Stephanie Myers interview with Dr. Michael Grayson on The State of the U.S. Economy / https://www.youtube.com/watch?v=TJqlV-jGS6w

CONTACT: Rachel Ford rford.specialguests@gmail.com or Jerry McGlothlin of Special Guests at 919-437-0001 jerry@specialguests.com 

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