TOPH SAVES THE DAY A Look at Some of My Recent Success Stories
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proceeded to spend a large sum of money that I didn’t have on a credit card that was nearly maxed out so I could learn more about the presenter and their presentation. Three months later, I was still broke, still had mounting credit card debt, and was still desperate. But I had a vision. I was going to become the go-to tax problem-solver for the self-employed. At this point, I was going all-in and leaving all my other “gigs” behind. (To this day, I still have boxes of golf clubs in my basement that I never sold online because I haven’t had the time to do so.) I knew that if things didn’t work out this time that another domino may fall in my life (e.g., my marriage), so I was truly desperate for this to work. Despite being “all-in,” it wasn’t easy. It took three months for me to get my first self-employed client to hire me to resolve their tax problem. I was able to help them settle their $75,000 tax debt with the IRS for about $17,000, which is a great success story for both my client and me. Despite this confidence boost, business still wasn’t booming. After the first year, my bank account was still very low and credit card balances were still very high. But I wasn’t giving up; I still had a vision and knew I needed to continue to stay focused with a consistent and persistent approach. By the end of my second year, I still wasn’t doing that well, but things were progressing, and I was starting to believe that I really had a business here. By the end of the third year, things were much more stable, and, for the first time, I knew for sure that there was no looking back.
Over my years of fighting the IRS and solving tax problems for the self- employed, 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: to get people back on the financial track to success. Let’s take a look at the wide range of clients I’ve been able to help get their money back in the right hands. Toph Helps a Salesman Shave $144,000 From IRS Tax Debt I came in contact with a client who had been working as a self-employed salesman for many years. When he came to me, the IRS was literally breathing down his neck; an IRS officer had just showed up at his door trying to collect on the $163,000 debt they claimed he owed. My client had not filed tax returns in six years and knew he was in trouble. After I intervened, I was able to get him current on all his delinquent tax return filings and negotiate a deal with the IRS to settle his IRS debt for only $19,000, saving him $144,000. Needless to say, he was a pretty happy client! Toph Helps a Realtor Settle $63,000 Tax Debt for Only $20,000 I was approached by a self-employed realtor who had been dealing with the IRS for several years. She was always current on filing her tax returns but never quite able to make the payments required to satisfy her tax balances. She had tried negotiating several payment plans with the IRS, but nothing lasted long-term. After getting involved, I was able to
help her work out a deal with the IRS to settle the $63,000 tax debt for $20,000, saving her $43,000. This deal was especially rewarding because the IRS accepted our original offer without any negotiating! Toph Helps a Business Executive Amend Tax Return and Cash In on a $23,000 Refund A business executive in Cincinnati was recently referred to me by a client. At the time, this executive was only looking for help with preparing some tax returns, which is a fairly simple engagement. His previous returns had been prepared by one of the
Today, as I look back on everything that has happened, there is no doubt that my desperation was the main catalyst for where I am today. Combine that with the fact that my wife was still willing to take a chance on me and believe in me. It’s been quite a roller coaster ride for us, but we sure are glad we are staying on for the full ride. P.S. I still haven’t been able to revive my golf game — I shot 82 at this year’s U.S. Open qualifier — but I’m not completely giving up on it yet either. –Toph Sheldon
largest accounting firms in the world, but after reviewing his previous returns, I suggested that his prior tax preparer had made a mistake that had cost him about $20,000 in additional taxes he had already paid. I
recommended he amend his return and request a refund, which I proceeded to prepare for him. Four months later, the IRS sent him a $23,000 refund (his original $20,000, plus $3,000 in interest). I guess I should be glad the big firms never wanted to hire me!
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