Toph Sheldon, CPA for the Self-Employed April 2019

TOPH SAVES THE DAY

A Look at Some of My Recent Success Stories

Over my years of fighting the IRS for fair treatment of my self-employed clients, I’ve been able to help people out of some serious binds. Whether they were self-employed farmers, plumbers, doctors, or lawyers, my goal was always the same: Get people back on the financial track to success. Let’s take a look at some of the wide range of clients I’ve been able to work with to get their money back in the right hands. Toph Helps a Pastor: I was approached by a soft-spoken, self-employed pastor fromWashington who had been filing his own returns for years. He was extremely concerned that he’d either been overpaying or underpaying on his taxes each year, but he simply had no idea where he stood. After reviewing his documents, I realized that he’d made a mistake when reporting his income and expenses. It turns out that he’d been vastly overpaying his taxes for three years. That pastor ended up walking away with about $12,000 in refunds. Not a bad turn around. Toph Helps a Self-Employed Salesman: I came in contact with a client from New York who said he owed the IRS a very large sum of money in back taxes — to the tune of about $25,000. Understandably, he was distraught and confused over the next steps he should be taking, and because his sales career didn’t afford him any disposable income, he brought the issue to me. After dealing with the IRS, I realized they had been the ones who made the mistake. We were able to clear about $20,000 off his balance and send him away with peace of mind, and peace of wallet. Toph Helps an Entrepreneur:

Shhhhhhh! It’s National Library Workers Day! Whether you have a card or not, libraries are an important part of our community. They serve as meeting places, research stations, employment centers, and local historical archives. They help kids and adults alike explore vast literary worlds and immense databases of knowledge — all for free! Behind every library is a dedicated staff of librarians, catalogers, assistants, and administrators who keep the system running smoothly. While it may not be the most well-known holiday, April 9 is National Library Workers Day (NLWD). As part of National Library Week, NLWD recognizes and celebrates the vital work performed by library staff. Librarians and their team do far more than simply place books on the shelf and shush noisy teenagers, after all. Library science is a multidisciplinary field that takes years of study to master. Today’s librarians have the skills of managers, IT specialists, documentarians, archivists, and educators — equipping them to help anyone from elementary students to doctoral researchers. These professionals can be an invaluable resource for anyone looking to delve into a particular topic, even if they don’t know where to begin. Just tell your local library worker what subject you’re interested in, and they can help you track down books, databases, magazine articles, and more. How should you celebrate National Library Workers Day? Some groups, such as the students at the University of Arizona, go above and beyond by delivering balloons and signs to library branches across Tucson. More commonly, however, library branches ask their community members to vote for a “star” staffer. If a library worker has made a difference in your life, you can submit their name to the American Library Association by visiting Ala-Apa.org and clicking “Submit A Star!” Lastly, you can show your appreciation by visiting your local library and thanking these professionals. These important community centers only work because they do!

A self-employed client reached out to me last year saying he had not filed tax returns since 2014 — five years. His fears were justifiable.

He was concerned that he was going to owe the IRS

upwards of $10,000 or, even worse, possibly face serious jail time for tax evasion. Cooler heads prevailed, and after the dust had settled,

we were able to go back and file the returns using several self-employment tax strategies. By the time we were done, that same businessman was able to walk away with about $1,500 in tax refunds. Not bad for a guy who thought his next job

might have to be in San Quintin.

2 • 513-342-4000

Published by The Newsletter Pro • www.newsletterpro.com

Made with FlippingBook - professional solution for displaying marketing and sales documents online