Toph Sheldon, CPA for the Self-Employed May 2019

THE LAW OF THE LAND Why Attorneys Trust Me With Their Tax Related Issues

Imagine you are heading to court to prove your innocence on a felony charge. This is serious business, right? So, you wouldn’t just hire anybody, and you certainly wouldn’t put yourself in charge, either. One of the most foolish mistakes you can make is being underprepared and underrepresented when you find yourself facing off against any faction of the government. This goes for individuals who find themselves on the wrong end of the IRS — even attorneys themselves. An attorney knows better than to put themselves in charge of their tax issues because they know they are not a specialized tax professional. As an individual who has dedicated his life to protecting self-employed small-business owners from the heartless antics of the IRS, I have been trusted by numerous attorneys to handle their tax issues and point them in the right direction. If an attorney knows better, then so should you. The legal and financial systems of this country can be confusing enough on their own, especially when they intertwine to create a hodgepodge of complex terms and paperwork. There are some things that are best left to the professionals, and your accounting affairs should be one of them. After all, you’re risking everything from your possessions to your freedom if you make even just one error.

The Power of ‘Mindset’ How Being Open to Growth Leads to Success For decades, Dr. Carol S. Dweck studied the phenomena of success. How is it that some people are able to grow their business, stay fit, or achieve their personal goals while others in similar situations stall out?“Mindset”is Dr. Dweck’s answer to this question. Subtitled“The New Psychology of Success,” this book chronicles the Stanford psychologist’s findings, which suggest an inseparable link between belief and achievement. According to Dr. Dweck, people tend to think about the challenges in front of them in one of two ways. They either have a“fixed”mindset —believing that their talents and abilities are static, intrinsic properties of who they are —or a“growth”mindset —believing they can improve every aspect of themselves with practice and perseverance. Those who approach life’s hurdles as an opportunity for growth are the ones who find long-term success. If you’ve ever said“I’m just not good at math”or“I’m not a natural leader,” you’ve fallen into the fixed mindset trap. If you believe there’s nothing you can do to change your circumstances, you’ll never strive to improve them. The same is true of positive fixed opinions of yourself. Dr. Dweck points out that those who believe themselves to be“a great boss”or“an amazing athlete”are also doing themselves a disservice. Once you think your skills are tied to who you are as a person, you’ll avoid challenging them for fear they might be found wanting. This leads your talents to atrophy as you seek detours rather than facing challenges head-on. Dr. Dweck argues that, instead of falling victim to the pessimism and self-delusion that defines fixed mindset thinking, we need to recognize that the path to success lies in open-minded perseverance.“A person’s true potential is unknown (and unknowable),”she says.“It’s impossible to foresee what can be accomplished with years of passion, toil, and training.”Not only does“Mindset”drive this point home with well- documented experiments and studies, but it also provides a workshop to help people break free of their fixed mindset and find success.

If you are self-employed and out to prove your innocence, then finding a CPA for the Self-Employed ® should be your first course of action. That’s what I always work toward

for my clients: Prove their innocence and see them walk away from their conundrum better then when they started, and sometimes that means walking away with a little extra refund money after a mistake has been remedied. Don’t let your past mistakes dictate your life for the future. Reach out to a trusted CPA for the Self- Employed ® who can help you along your path to financial

independence from the IRS.

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