They couldn't understand why parents could still claim them.

So I my what I would say, are are you paying rent? No. Are you paying for food? No. What do you use your money for? Well, do this as well. I think your parents are supporting you so they get the money.

Alrighty, folks. Welcome back to transacting value, where we're encouraging dialogue from different perspectives to unite over shared values. Our theme for 20 22 is the character of your character.

So who you see when you look your values in the mirror? Today, we're talking our August core values of generosity, justice, intact, with miss Dawn Porthouse from Porthouse tax advisors.

Now if you're new to the podcast, welcome. And if you're a continuing listener, welcome back. Without further ado, Folks on Porter, I'm your host, and this is transacting value. Alright, Dawn. What's going on?

How are you? Good. How about yourself? I'm doing well. Thanks. First off, I appreciate you making some time, especially on a weekend. I'm sure you got a busy schedule getting his business off the ground. Yeah. No problem.

So how are things going? Because starting any business I imagine is tough, but especially now, interest rates are high, value of the dollars down, its outside attack season, on top of a new location, staff, computers, construction.

How are you managing? How are you getting on? Well, I already own 1 business. This is a transition into another area of taxes. So I own a Liberty tax franchise in the next next town for me.

And this, I'm opening to to focus surely on tax the problem. So people that know have issues with the IRS, haven't paid taxes, are getting tax bills, tax liens, or just wanna to clean up the mess from years past.

Yeah. The real That's what I'm focusing on there. It's a lot. Yeah. It is. Yeah. It is. Now you said tax liens too.

Is that sort of from defensive perspective from somebody with a lien filed against them or advocating for people to purchase through tax liens? No. It's when the IRS actually files a lien and they're usually pretty quick.

About filing a lien when you owe that money. I I imagine they've they've made a -- Yeah. -- pretty solid career out of that. Yeah. The government wants their money.

Yeah. I mean, I you know, I can't fault them for that. Everybody wants what they're owed, I suppose. But as far as all our listeners are concerned, since nobody else can see you if we talk relatability for a second, who are you?

You know what I mean? Where were you born? Maybe hobbies? What what got you into tax, consulting, advising, negation, whatever applies.

How did you become the dawn you are today? Well, let's see. I am originally from Fall River, Massachusetts. I have 1 son, 2 granddaughters, I just have work, single parent, then I met my current husband.

He was in the navy, so spent 6 years with the Navy wife. I've worked in corporate America for a lot of years, mostly in the research sector. Worked there for most of my career.

1 day, a friend of mine had come in and she had criminal brain cancer is getting ready to retire. At that point, I remember looking around thinking, I don't wanna die here, and I don't like these people.

Plusly, my husband Chris was really good about it because I just came home and said, okay, I quit. And then went back to school to get my MBA.

I already had 1 masters, but I wanted an MBA, and he's like, okay. So get it. For taxes, I just was looking for something to do. I was bored. Just looking for a little part time job, and that's how I started doing taxes.

I found out I actually enjoy it, especially helping clients when people those IRS letters, they get nervous, and they don't understand all the tax code because honestly, I don't know anybody that can, even the IRS.

I opened a Liberty franchise.

Been there for 4 years. Have 2 amazing women that worked for me. And I'm just looking to abandoned to helping more people. I mean, that's commendable, but I don't think I've ever heard anybody say I was bored.

I was looking for fun, so I decided to file taxes. Yeah. I'm unique. But all things considered. Right? Like so going back to get your NBA within the last decade even.

It's not like you're in your twenties. I'm sure that already comes uphill. Well, in a way it it really wasn't. It's just par for the course because I didn't graduate like, I didn't get my undergrad degree in a normal way.

It took me about 10:15 years to get my undergraduate degree. Oh, okay. Because I was a single mom. I was working and, you know, thank goodness.

I have really great parents, and they helped me out. Then I got a master's in public administration because I thought I was gonna stay in the nonprofit world. So the the joke is what degree am I gonna get next?

That's pretty much the joke in the family. Well, I mean, at least you're using it. You know? I had an uncle who I think it was in the seventies, late seventies, maybe. He went and got a bachelor's in music.

He's been an architect for the last 40 years. Yeah. It's going to school. It's sometimes just just to be surrounded by people and and the thinking that goes on in school that doesn't happen in the real world.

Yeah. It's it's a different mindset. That's I I enjoyed working with a bunch of my classmates, still friends with some of them now, and it was just it's just a different you know, you you put a different take on it.

Yeah. Well, I mean, everybody generally speaking is trying to grow up at the same time despite different ages.

You're just trying to broaden your perspective. And like you said, learn some new stuff, have types of perspectives and conversations come together.

And that really doesn't happen many other places, like that level of big talk or deep insight or whatever, most of it's, I guess, topically relevant in the moment, like filing taxes, for example.

You're only really I mean, you're you're different.

But generally, only gonna talk about those things. When you're filing taxes. But otherwise, it's either that or it's small talk. Things that just sort of past time, it was good to catch up.

It was, you know, weather was nice, whatever when you're talking about even like now, values, character development. You know, how do you have that kind of a conversation at a coffee shop with somebody you never met before?

You probably won't. Yep. I mean, I've worked with some really amazing business coaches, and there's another way to get it. If you're not you don't wanna go to school is to find someone that really they're not the huge ones.

They're they're small business coaches who are and you have something in common with. You can have really interesting options, and sometimes they help bring me back because I have a lot of big thoughts.

And then sometimes I need someone to just take my thoughts down to actionable items. Yeah. Well, those power and vision too, though. Oh, yeah. Yeah. There's sometimes too much vision is not good.

Yeah. You don't get anything done. Yeah. Yeah. That's true too. It's important to have some sort of a grounding feature or or person or attribute something. Yeah. It it is easy to get carried away.

So let me ask you this then. Why did you decide to expand? As usual in my life, I was bored. Oh, okay. I did a lot of tax returns. I've helped people, but it okay, you know, do 1 tax return after a while.

You get Adam. You you can do them. I brought in a team, and they're amazing. And they were able to take on a lot of the day to day stuff. So for me, it was just okay.

What can I do next? And the big thing is, you know, helping people attack problems. So it's also another skill set that I have to learn. And help people because there's a right way to do something and a wrong way to do it.

Hey, y'all. It's Joel here with the b and the bear creations. We specialize in custom tumblers, t shirts, car decals, and anything else you can think of. If you are looking to order a custom item for yourself or for someone as a gift.

Please go find me on Facebook and shoot me a message and we'll get that ordered started for you. Again, you can find me at the b and the Bear creations on Facebook. I look forward to helping you create your custom item.

This is Jimmy Mullen. Most of discussions from Dublin. And good friend of survival at YT. Though I prefer to specialize in all things crypto and decentralized, I still value a good conversation.

In fact, If you're in the same train of thought and enjoy different perspectives on varying topics from regular people, such that may entertain and persuade at your local Irish pub, tune in to the transacting value podcast.

They're even now playing on YouTube at Survival Dead YT. And streaming everywhere your favorite podcasts are hard. And remember, it's a good thing to learn from the words of others.

But don't forget to be your own author too. I brought in a team, and they're amazing. And they were able to take on a lot of the day to day stuff. So for me, it was just, okay.

What can I do next? And the big thing is, you know, helping people attack problems. So it's also another skill set that I have to learn and help people because there's a right way to do something and a wrong way do it.

I see. And you're also dealing with the government agency, which I spent most of my career dealing with government agents in 1 way or the other. Uh-huh. And so then the next challenge to keep you -- That was my next logical step.

And it there's so much to learn that you just I can't get bored because just when I think I know something, something else changes drastically, or there's a a little just enough of a spin on the situation.

That it makes it completely different than the first client with exactly the same scenario.

All it takes is 1 little thing that could change the whole dynamic. I bet Like, there's things concerning let's just say concerning taxes that I thought I was relatively well read on by a house, for example, with a VA insured loan.

As long as you live in it as your primary residence for 2 out of your previous 5 years, essentially you're waiving the capital gains tax off of the sale of that property at the end of the 5 year term.

What I got told Right. But if you have roommates, then it's no longer primarily used as a residence.

It's primarily used as an income generating property, so it's not a primary residence. That's totally primary residence. It was my primary residence. And he said, nope, doesn't count.

And so it's interesting that even though tax law even though it's codified in black and white, there's still some relative subject activity depending on who the client is. Yeah. And again, it was written by a lawyer.

Yeah. So what we always say in the tax code is that it depends. That that's the 2 words we use all the time. It depends. Like, I can tell you 1 thing. I'll and those are the 2 words I'll add after it.

It depends because it's everyone's unique situation. Sure. Which I guess helps if you're trying to retain some sort of mental stimulus and maintain a challenge, that sounds like the industry for it.

But it's gotta be frustrating. How do you temper that? What's your outlet? I think I just come to expect it. It's frustrating because it right now, you can't.

You just can't get ahold of the IRS. So it's like pulling teeth to get anyone to answer a phone. So it's more of the frustration of not getting through to someone, but it's for everyone that deals with the IRS is going through it.

So it's thought of a a little community of people, we just vet each other because we know that there's nothing that we can do to fix it.

I don't know if that's a good thing or or not, ultimately, but you know, if everybody's miserable together, we've got a saying in the military that that's just camaraderie and that's how it goes.

So maybe that's the underlying of silver lining tax collectors, tax attorneys, tax advisers, tax personnel, at least all of you are miserable together or frustrated together -- Yeah.

-- or challenged together. It is it is true. I guess, I never thought about that. How do you talk people through? What do you mean I owe 10000 dollar? I just paid last year, everything was good.

That's got a report. Time someone comes to me sorry. That they have gotten letters from the IRS or state, depending on if you live in a state with taxes. Mhmm. I've had people come in with the letters that weren't open. Oh.

They just put them in the pile. You're notified. It's not a surprise. By the time, usually, someone's calling me, it's it's been going on for a while. They just ignore it, which is the worst thing you can do because it's not going away.

Yeah. The people know that they owe the money. They're not they're not surprised. Very few people, maybe the amount is not what they agreed to, but they've been getting letters.

So can't say you didn't know. Well, there's only 2 certainties as the saying goes. Yeah. That's in taxes. There's only 2 things we can actually do right now. Yeah. Which, you know, smart move on your part. There's job security there.

True. Yeah. But let's back it up. Adults, let's just qualify as 18 years and older, which is a stretch in my opinion. But let's say that's the case. And then children being 17 and under. Just for the sake of a bracket here.

If you're an adult and you understand either how to responsibly manage your taxes in tax liability and risk and all these other considerations or not. How do you recommend teaching those considerations to kids? Say, 17 and under.

To start mentally prepping, getting them into better habits before they become older, before they fall into that situation, what what are based on your experience trends that you've seen we could start helping to avoid younger?

So 1 of the things for all of my clients that I do their tax returns I do their children for free, and, usually, I'm the 1 educating the children.

Because sometimes the parents can't explain it or the child doesn't wanna listen to them because it's their parents and they, you know, their child knows everything.

Mhmm. But usually, I'm the 1 having to break the news to try to explain is no while you're doing this, and I've had to act I've had parents actually say, Don, talk to them.

They're not listening, just talk to them because they don't believe me.

So when I and I go through step by step, what I do with every client, but I go in more detail of why they're either owing or not getting back as much as they think they're entitled to.

Because they're they're looking for the refund. They expect because they're, you know, 17 and under that all this money is mine. Why my parents get in it? Why don't I get these credit? Because the stimulus is a big 1.

Sure. Yeah. Usually with more of the 08:18 to 24 year olds that were in college. Okay. So you're saying if you don't contribute or carry your weight or help in any way to earn money you don't get the reward?

Is that sort of the corollary there? Well, it was more the stimulus. If you're a 18 and and in college student, a lot of them really aren't paying for their own own way because mom and dad usually Well, right.

I mean, conceptually though. I think there's a a lesson there that you could even explain to say a 5 year old with relative different words.

But, like, you can't have something if you don't contribute to it. Yeah. You know, entitlement isn't just a a free gift. There's what is it? There's no free lunch. Right?

So Mhmm. Yeah. I think that's an important lesson to convey. But and it's common, I assume. These types of problems, these types of problems Unfortunately, it's in the last couple years, it's become more common than I had seen prior.

What would you even hypothetically attribute that to? Unfortunately, I just think people are and not everyone. And I I have clients that are young that have successful businesses.

Mhmm. I I just think it's the mentality of it's mine, give me the money, give it to me, because they're they're looking for free money. I think in the last 2 years, it conditions some people.

But then again, you know, like I said, I have others that are making a hundred thousand plus on small business is being started at 19. Oh, wow. Good for that. So it's really nice to see. And and a lot of them just don't understand.

Yeah. A lot of the college students I dealt with. Some some from the hard workers, they just don't understand the concept that some money should go to them because they are paying in their mind, they're paying for all their stuff.

But what they're paying for is all their funds now or maybe the car insurance or things that they need.

But when it comes to the basic necessities, mom and dad are still paying for all that. And so the tax liability is more general associated with basic necessity stuff.

Am I correct? As far as depend as far as dependent when you're in college. Because once you're 18, you're you're you're you're adults, but you still can be dependent based on a number of different factors -- I see.

-- for your parents. And it usually falls with college students or young adults go into trade school for a couple of years.

Because they're doing the schooling, they're not really you know, they're working a little side job. They don't have you know, they're not paying the big day to day expenses.

If we wanted to increase that aspect of financial literacy or, you know, encouraging an understanding behind entitlement and risk and gain and tax liability and these these sort of more convoluted concepts based on your experience, then how do you recommend we simplify those to better explain them for more common understanding.

Folks, I'm Porter, host of the transacting value podcast. You're being personally invited to increase empathy worldwide through shared values. Hey. But why do you say it like that? That's not what we talked about.

No. It's not. Why do you call it an invitation? Look, guys, there are people around the world who have listened to our conversations with guests. And they've trusted us to build perspective over different topics through shared values.

The least we can do is invite them out to hear more of the content that they enjoy while still reminding them that season 1 and season 2 of the podcast are still listed under the old name as DYT the podcast.

Friday, that makes sense, Porter. Just tell them that if they go to YouTube and search survival dead y t, they can find all the old videos in playlists.

Along with season 1 and season 2 8, Or if they want to hear some of the other interviews from those seasons that they can still find them everywhere their favorite podcasts are streamed. I'll just do it.

No. I got it. I'll let them know to stay in touch through the Facebook, Instagram, TikTok, or Twitter pages by searching at the transacting value podcast. For comments, critiques, topic ideas, or to become guests themselves.

I'll make a note to say thank you to all of our show sponsors and partners, and just say that I appreciate all of our new and continued listeners, and then I'll close out by saying, I'm Porter, I'm your host, and this is the transacting value podcast.

If you're looking for high quality locally sourced groceries, the Keystone and Farmers market is the place to be.

Alongside our signature homemade boiled peanuts, we strive to offer only the best locally sourced pasta, baked goods, jams, and jellies, farm eggs and dairy products, meats, and even seafood, as well as a great selection of fresh produce.

That's the Keystone FARMERS MARKET. 12615 TarpEN Springs Road in Odessa, Florida.

The PLACE with the boiled peanuts. If we wanted to increase that aspect of financial literacy or you know, encouraging and understanding behind entitlement and risk and gain and tax liability.

And these these sort of more convoluted concepts based on your experience, then how do you recommend we simplify those to better explain them for more common understanding?

I think a lot of its stocks with high school. There should be at least 1 class in how to, you know, manage a checkbook or, you know, well, now we don't use that anymore.

But with manager money, but have a basic literacy and because a lot of high school students work, usually the first check to get what is this FICA and why they've taken out my money, but then it's to have that discussion with them of okay.

This is This is what this is. Just give them basic knowledge because a lot of with the DIY software, they make it seem so easy, but they don't understand concept.

I think it's just teaching them basic concepts of reading just don't rely on somewhat, you know, software to tell you what to do because software can be wrong.

Truthfully, like you said earlier, just because everything's so convoluted and relatively subjective, so can people. You know? So having an appreciation, I think, for people in your position that are just trying to help.

I'm sure you've had people come in and you get aggravated or frustrated or yell or stomp out of the room and you're like, man, I I don't know what to tell you. I'm just here to help. Yeah. I mean, luckily, I can I can knock on wood?

I haven't had a lot of those. Most of the people that come into my office are usually looking for help and I had a couple, but because they'll blame us for the IRS issue. That's usually where we get a lot of frustration.

If something doesn't happen as fast as people would want it, but it's delayed at the IRS's side. Yeah. But you're Or something happens. So where the face of it, we get in front of that -- Sure.

-- when it does happen. Yeah. Financial literacy is is definitely understated and undervalued, and all things considered to become relatively successful in whatever industry and whatever capacity, scale, scope, anybody's interested in.

It's not just cash flow. Right? I mean, there's all sorts of aspects to how you read and interpret and understand finance.

Alrighty, folks. This is Porter with the Transacting Value Podcast. If you haven't heard of AnchorBus Spotify, it's the easiest way to make a podcast with everything you need all in 1 place.

Let me tell you about it. Anggraves tools that allow you to record and edit your podcast right from your phone or computer.

That means, from an app, a desktop, both. When hosting on Anchor, you can distribute your podcast on listening platforms like Spotify, Apple Podcast, Google Podcast. Or even Stitcher, and there's plenty more where you can choose from.

It's basically all you need to make a podcast all in 1 place. And Anchor is totally free. So if you're interested and you wanna find some value for your values, download the anchor app, or go to anchor dot f m to get started.

If we wanted to increase that aspect of financial literacy or, you know, encouraging an understanding behind entitlement and risk and gain and tax liability and these these sort of more convoluted concepts based on your experience, then how do you recommend we simplify those to better explain them for more common understanding.

Before we get too deep into that direction though, I understand we've only got so much time left.

So first off, Don, I really appreciate the opportunity for you to come in and talk. But for the sake of time, that brings us into the last segment of our show.

It's called developing character. Yeah. I'm ready. Alright. So here's how it works. We got 3 questions. You answer them obviously to whatever depth you feel comfortable.

So question number 1, how do you view your values that you had as a teenager. As a teenager, I think I had the same core values of honesty and stuff, but they weren't as developed.

Yeah. A lot of that just comes with life experience and some, I guess, relative maturity. But yeah. So that takes question 2. Right? So what then are some of your current values that you try to embody?

So my current my current values are, you know, honesty, integrity, and compassion. Those are the things that I think people just need in life. It it's I don't think it's that hard.

I don't know. That may be where we slightly disagree. I think they're easy concepts to understand. You know, you're told as a kid, don't lie, you're old as a kid, you know, don't sneak around, be honest with me.

I'm your parent, whatever, whatever. But in practice, I think there's a lot of variables that do make it complicated and do make it difficult.

Especially once you start getting into emotional attachments to people and to words and to phrases and having the courage to say certain things and and be honest.

But but I I agree. They are and should be a lot more widely practiced at the very least. Now, question 3, how then do you view your values changing over the next 20 years?

Honestly, I don't see much changing. It's some pretty stubborn. These are values I've held for a long time and since I've been, you know, working in different sectors is I always said, I won't do anything illegal and more or unethical.

Practice that for over 30 years. Consistency is key in a lot of things, especially when you're talking moral compass and and filament as an individual, so totally commendable, but especially in your line of work that's preferred.

That's true. It doesn't start a biggie. Yeah. Yeah. Hallmarks have a good adviser for sure.

Saying that though, I I appreciate you for jumping into that last segment for anybody that wants to reach out to you, though, they wanna get in touch with Porthouse tax advisors or anything from advice to actual filing assistance or in preparation between now and the star of tax season.

How do people reach out to you? What what options do they have? What platforms are available? Let me give you my website first. It's courthouse tax advisors dot com. And you can just put comments and things in there.

If I'm on Facebook, you can email me at dawn, DAWN, at courthouse tax advisers dot com. Okay? And for all of our listeners, we'll tag Don's Facebook for Porter's tax advisors in the posting for this interview as well.

She'll be able to find her there. And then we'll put your website, Dawn, in the description for this interview as well. So as it lingers for eternity, people will be able to find your website as long as it stays up to date.

And they'll be able to reach out to you that way. But I really appreciate you taking some time. Again, I understand you're busy right now, especially trying to expand.

So thank you for the opportunity, and thanks for coming out. Well, thank you. Of course. No problem. And everybody else who's listening thank you for listening into our core values for August of generosity, justice, intact.

Thank you to, obviously, Pordhouse tax advisors for your inspiration and to all of our show partners, Keystone Farmers Market, the being of bear creations, and of course, Anchor for distribution.

If you're interested in joining our conversation or you wanna discover our other interviews, check out transacting value podcast dot com.

And remember, follow along on social media too. So while we continue to stream new interviews every Monday at 9AM Eastern Standard Time on all your favorite podcasting platforms. Until next time. That was transacting value.