Recently I received an inquiry from my website which is listed below: 

I found your website…love the Christian approach. I’m in need of a Profit and Loss statement from a CPA quickly for a loan modification I’ve applied for. I am a Realtor…and have some minor expenses from my commission checks. I can drum up receipts for the desk fee and website fee, but the rest is minor for gas (lunches with prospects) and one rebate I have not gotten a cashed check back for. They don’t add up to much, and would almost be willing to take them out if you would have to have receipts to prepare?

I need this very quickly or we might lose our loan mod. Any help you can give me would be greatly appreciated. 

Incorporating your business and knowing what is best from Day 1 is what your CPA may be best utilized for to protect you personally, legally mitigate your income taxes and planning for your retirement. Below is my response to the client’s inquiry: 

Thanks for visiting www.HisCPA.com I can certainly help you quickly with your need but would need to talk to you further and to get a copy of your prior personal return in order to gain a good understanding of your business and to advise/quote accordingly. Feel free to give me a call and I will be happy to discuss. 

If you have not yet incorporated might I suggest you review the article on our web-site at http://www.hiscpa.com/article2.html as being an S Corporation might both legally save you taxes as well as limit you personally from corporate liability. 

Also if you have already incorporated your business as an LLC, we can look to convert your business to an S Corporation for tax purposes and potentially also legally limiting your annual tax oblations. 

I look forward to hearing from you soon.

John Dillard is an Christian Speaker/Author and Certified Public Accountant in Duluth, GA. To See how he takes Christ along with him to work visit http://www.hiscpa.com/ and for his latest book Overcoming Life’s 9/11’s: Job’s Journey and a Voice of One: Nehemiah’s Prayer visit http://www.john-dillard.com/ or call John Dillard CPA today at 770.814.9304 (All Rights Reserved) Dare to Attempt Something so Great for the Kingdom of God that it is doomed to failure, lest Christ be in it!  

Contact HIS CPA PC (A Christian CPA Firm) today.

We advise clients on: IRS representation, Offer in Compromise, Tax Problems, Incorporation in Georgia, Corporate and Personal Income Tax Returns, Part-time CFO, Virtual Controller, Business Planning, Offer in Compromise, Back Taxes, Bookkeeping.

Related posts:

1. Atlanta CPA on Should You Convert Your New Georgia LLC to an S Corporation for Tax Return Preparation Purposes
2. Atlanta CPA on How a Georgia LLC and Legally Convert to a Georgia S Corporation for Tax Purposes
3. Atlanta CPA Advises on Whether Your Georgia LLC Should Convert Over to an S Corporation for Tax Purposes
4. Atlanta CPA Teaches Determining Where Best to Incorporate: Incorporating in Georgia
5. LLC’s can Legally Convert to an S Corporation Saving Thousands Annually

This entry was posted on Friday, November 20th, 2009 at 8:39 am and is filed under Converting to an S Corporation, Georgia C Corporations, Georgia LLC (Limited Liability Company), Incorporating in Georgia & Entity Selection, S Corporation Elections, Small Business Consulting & Resources for Atlanta Entrepreneurs.
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