On the job with ... Holly O’Shea

 

Holly O’Shea owns the Clearwater Tax Clinic in the old creamery building on North Main Avenue in Bagley. Her slogan is “The doctor’s in for your tax and bookkeeping needs.” 

Holly and her husband Mike gave a lot of thought to the name of the business. 

“A lot of people really dread filing their taxes. My idea is to do preventative care in terms of how I want to help people with their needs, and make the tax filing process less painful for people,” Holly says. Thus, the name Tax “Clinic” emerged. 

“For me, a big part of this business is education, and fixing things before they become a bigger problem.” 

“And sometimes I even make house calls! Especially for seniors, I will go to them and do what is needed.”

Taking the tax code and making sense of that for people – with the complicated and convoluted language it contains – so they can understand its relevance to their life. That is Holly’s goal. 

“I didn’t start out with this in mind,” Holly says. “I always had an interest in mathematics, and did my own taxes from the time I started filing, at about age 18. My college majors at Bemidji State University were Physics and Education. I was analyzing technical information, and helping others to understand it.” 

 “I taught ninth grade Physical Science in Thief River Falls after college. There is quite a similarity in teaching Physics and with the tax code.” 

When Holly finished with teaching, she worked for a CPA firm in Gonvick for three years. 

“I got my feet wet there, dealing with the other side of the tax system and its complications.” 

In 2013 Holly became what is called an “Enrolled Agent”. She had to learn a lot of the tax code, and the ethical side of the profession, then take three exams, using the information she had memorized before applying for the application. 

“The Enrolled Agent designation has been around for a very long time,” she states, “from Civil War days, and there are a lot of requirements. This designation is equal to having a CPA in the eyes of the IRS, but is nationally recognized, while a CPA is only State by State. With this, I could go anywhere in the United States and practice. Tax preparation is my main thing.” 

She is also a member of the National Association of Enrolled Agents, and the American Institute of Professional Bookkeeping. 

Holly started her business in the fall of 2013, and this is her fourth year here. She is in the midst of her three month rush of tax preparation season right now, and does some bookkeeping and other side work during the rest of the year. 

“I wanted the flexibility to put my family ahead of work when I need to. I think that’s important – they won’t be little for very long.” 

Holly says one of the first questions people often ask is how much it will cost. She has a process with clients, and examines their last two years’ tax information. After looking that over, then she quotes a price. 

Another question that often comes up is whether someone’s endeavor may be a hobby or a business. She has a brochure that helps to explain how to determine that. 

“They can stop me anytime and ask questions. I try to give them a level of calm, that they are not all alone in the process. I always clarify things with clients. Every year, we go through every line of every form, so they know exactly what they are filing and signing, so they feel comfortable.” 

A big challenge in this industry is keeping up with and being aware of changes in the tax code, even potential changes, and see the needs of what is coming. 

“The tax code is a mess,” Holly laments. “To simplify it would be good. Now when a law is passed, there are a hundred exceptions. The tax code contains millions of words, and there are new laws added every year. There needs to be a complete overhaul of the tax code.”

She says it is a great start that decreases in government regulations are planned, but thinks it will be difficult to get everyone on the same page. 

“I hope there will not be a lot of unnecessary blockading. We’ll have to wait and see, and hope,” Holly says of the future. “People don’t know what’s going to happen. The health care changes and the way that goes will also affect tax changes.” 

“I really enjoy what I am doing, and hope to continue doing this for a long time to come,” Holly says. “I have had tax frustrations myself, and one of the nice things about having lived through them is to know what it’s like in order to help others with their concerns.”

Holly’s husband Mike is a long time resident of the Bagley area. He is a retired teacher from the Clearbrook-Gonvick school district. They own a home and acreage out in the secluded, peaceful country near Lone Lake, where they are raising their two daughters, Maureen, age 3, and Irene, age 1. 

“We’re in our own little Paradise”, as Holly calls it. 

“I’m mainly focused on my family. It’s relaxing to see the wildlife outside the window in the morning. The girls can go outside and play.” 

“We want to educate the children by giving them experiences such as traveling to see our own United States – it’s a beautiful country. We have so many amazing things to see, and learn about our history here. We’d like to see a lot of the natural parks, the coasts, and the Capitol with the girls. It will be fun and such a learning experience.” 

Holly grew up in Gonvick to parents Margie and Frank Buer. Margie was a stay-at- home mom, and dad was a mechanic and business owner. She says this is part of what enticed her to be a business owner herself. 

On Sundays, you will find Holly playing the piano at the Zion Church north of Bagley. And once a month she plays the guitar and sings with the B. S. Valley Strings.

“It’s important to be who you are, and unapologetic about that,” Holly states as advice for living. “Live with kindness and compassion. Many in this world are either completely fixed on self, or they lose self in other people. I’ve worked 12-14 hours a day in the past – it’s hard to have a personal life when you do that. 

“Being able to find a balance of personal, family, and work in life is important.”