Toph Sheldon, CPA for the Self-Employed June 2019

Toph’s Tax Nightmares EVEN BIG BROTHER CAN’T ESCAPE THE TAX MAN

Spiro Agnew The nation was shocked to learn that Vice President Spiro Agnew was resigning from his position in 1976. Then

Nobody is immune to butting heads with the IRS. If you neglect to take care of your taxes or try to deal behind their back, you’d better believe they are going to be on your tail. This even goes for the politicians who like to think they’re

when they heard the reason, the public was even more surprised. In October of that year, Agnew admitted to not paying his federal income taxes and failing to report income during his time as the governor of Maryland in 1967. He relented that he failed to report nearly $30,000 in income during that period, and both before and after that time. For his trouble, Agnew was given a deal after he pleaded no contest to one felony count of tax evasion. He resigned from his post and was forced to pay $10,000 in fines. He also spent three years under probation. there were substantial allegations that he was taking various bribes from benefactors

above the law. From failing to pay income taxes to committing tax fraud, let’s take a look at a few public officials who found themselves on the wrong side of the law.

Jesse Jackson Jr. The son of famous civil rights leader Jesse Jackson, this House of Representatives member found himself in serious trouble after he was charged in relation to a tax-fraud scheme—among other serious charges. In October of 2012, federal agents started investigating him due to claims of misappropriation of funds. They intended to throw the book at him for what ended up being a serious miscarriage of public trust. Jackson was said to have swindled campaign backers out of money and instead used their political donations for personal purchases. At his trial, Jackson was revealed to have done just

No matter what financial state you’re in, don’t let your tax issues control your life or hinder your dreams. If only these politicians had contacted a specialized CPA, maybe they’d still be tooling around in the high society. Then again, they’re probably better off where they are.

that and then some. He ended up pleading guilty to charges stemming from he and his wife misusing $750,000 in campaign money that included purchases of cashmere capes and even Michael Jackson’s used fedora . Ultimately, he served a year and a half in prison before being released to a halfway house.

BLT DOGS

TAKE A BREAK

Inspired by FoodNetwork.com

Is a hot dog a sandwich or not? We’re not here to weigh in on the ever-contentious debate, but when you combine a hot dog with a BLT, it definitely becomes more sandwich-like—and way more delicious.

Ingredients

• •

4 strips bacon

• • • •

1 tbsp mayonnaise

4 hot dogs (ideally Boar’s Head Beef Frankfurters, but any all-beef variety will do)

1 head romaine lettuce, shredded 1 large tomato, seeded and diced

Salt and pepper, to taste

4 hot dog buns

Directions

1.

Heat a skillet to medium and fry bacon until rendered and crisp. Transfer to a paper towel to drain. Fry hot dogs in bacon drippings, creating a crust, and cook until warmed through.

3.

Using a dry skillet or oven, toast buns.

4.

Spread mayonnaise on buns, place hot dog and bacon inside, and top with tomatoes and lettuce. Serve.

Solution on page 4

2.

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