Accounting News and Notes

Duluth CPA Addresses Tax Issues with Atlanta Tax Clients for Over 30 Years. 

Below is a sample letter that I might send to a new client to ensure that all tax issues are being correctly addressed. Leaving any loose ends is a recipe for disaster. Looking ahead and while addressing the details of today is a watchword for a Good CPA.

This will confirm that I suggest you ASAP get with an Attorney and move the domicile of your corporation to where you are presently living and working. Left to our own devices, we are often prone to make decisions that sound good on the surface only to soon learn that our shortsightedness has caused us more harm than good.  Therefore, to avoid this from happening it is best not to be in a hurry to make the right decision, while striving to ignore an arbitrary timeline or deadline, which does not exist. It is far more important to make good decisions with prudence and forethought that carefully evaluate all the relevant decisions and options than to hastily precede into turmoil.

There can be substantial advantages in incorporating in NV if you are striving for confidentiality, however, it will not lower your tax bill even a dollar if all of your operations and monies are earned in another state or states. For example, if your base of operations and employees have all of their operations in Georgia, a company will still have to register and pay income taxes in Georgia even if their corporation is legally incorporated in Nevada. If you are domiciled in Nevada and do business in another state, your corporation will still need to file as a foreign corporation in all other locations where it transacts business. From a practical standpoint what you would have done, is complicate your state income tax filings, increase your incorporation fees, and saved zero dollars of income taxes by incorporating in NV and doing business, having employees, and having office locations in other states.
 
Many public companies, those you can buy stock in on the open market, have incorporated in Delaware for the ease of handling stockholder/shareholder issues. For large companies with tens of thousands of shareholders , this might prove advantageous/beneficial, however for many companies there is no substantive advantage to be gained. You will still be subjected to paying income taxes and legally registering your corporation in all states where you transact business and  earn its revenue. To help avoid unnecessary headaches, work with your attorney and CPA closely before making strategic decisions. This your best defense to avoid unhelpful filing fees, requirements, and complexities

Please confirm the address to use for your business and personal returns. 

Please use the checklist on the contact page of our web site to pull your business & personal tax information together. 

 I got the documents you forwarded about your LLC but did not include where the state formally accepted your incorporation date. 

This will confirm that we went over the rules of being a S Corporation and you stated that you qualify and desire to request the IRS for an S Corporation effective date of 1-1-09. 

John Dillard is a Christian Speaker/Author and Certified Public Accountant (All Rights Reserved). To See how he takes Christ along with him to work visit http://www.hiscpa.com/ (An Atlanta CPA firm) and for his latest book Overcoming Life’s 9/11’s: Job’s Journey and to learn about his ministry visit http://www.john-dillard.com/ To contact John Dillard CPA (Atlanta Christian Author/Speaker) today call 770. 814.9304 Proudly serving Duluth, GA, Gwinnett County and Beyond. 

“Dare to Attempt Something so Great for the Kingdom of God that it is doomed to failure, lest Christ be in it!” What, then, shall we say in response to this? If God is for us, who can be against us? Romans 8:31 Why are these verses here? Learn how His CPA became a Christian Accounting firm visit http://www.hiscpa.com/christian-CPA.html

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

Serving Atlanta, Duluth, Gwinnett, Barrow, Bartow, Carroll, Cherokee, Clayton, Coweta,  Douglas, Fayette, Forsyth, Fulton, Gwinnett, Henry, Newton, Paulding, Pickens, Rockdale, Walton, Barrow, Bartow, Carroll, Henry, Newton, Bartow, Walton, Rockdale, Barrow, Spalding, Coweta, Dawson, Douglas, Fayette, Newton, Paulding, Spalding, Walton, Henry, Paulding, Douglas, Coweta, Canton, Covington, Douglasville, Druid Hills, East Point, Forest Park, Griffin, Lithonia, Mableton, McDonough, Milton, Mountain Park, Newnan, Powder Springs, Stockbridge, Union City, Villa Rica, Winder, Woodstock,  Smyrna, Sandy Springs, Marietta, East Point, Gainesville, Snellville, Buckhead, Buford, Peachtree City, Dunwoody, Kennesaw, Decatur, Conyers, Stone Mountain, North Fulton County, DeKalb County, Hall County, Clayton County, Cobb County, Forsyth County, Hart County, Jefferson County, Duluth, Atlanta, Alpharetta, Johns Creek, Lawrenceville, Milton, Norcross, Snellville, Roswell, Buford, Cumming, Grayson, Lake Hartwell, Suwanee, Sugar Hill, Loganville, Lilburn, Dunwoody, Gainesville, Decatur, Atlanta GA, Gwinnett County, North Fulton County, Cherokee County, DeKalb County, Hall County, Clayton County, Cobb County, Forsyth County, Hart County, Jefferson County, Duluth, Atlanta, Alpharetta, Johns Creek, Lawrenceville, Marietta, Milton, Norcross, Snellville, Roswell, Buford, Smyrna, Marietta, Cumming, Grayson, Hartwell, Suwanee, Sugar Hill, Loganville, Lilburn, East Point, Gainesville, Snellville, Buckhead, Buford, Peachtree City, Dunwoody, Kennesaw, Decatur, Conyers, Stone Mountain, Decatur. Sandy Springs, Peachtree City, Douglasville, Newnan, Griffin, Woodstock, Carrollton, Forest Park, Canton, College Park, Cartersville, McDonough, Riverdale, Fayetteville, Covington, Stockbridge, Conyers, Clarkston, Barrow, Bartow, Butts, Carroll, Cherokee, Clayton, Coweta, Dawson, and Douglas.

Related posts:

1. Duluth CPA Solving Back Taxes Issues in Atlanta for Thirty Years
2. Duluth CPA Advises on Bookkeeping Issues for Atlanta Business Owners
3. Award Winning CPA on Helping Clients With Offer in Compromise & IRS Tax Representation Issues
4. Alpharetta/Duluth/Atlanta CPA Provides Risk Management 101 to Atlanta
5. Duluth GA CPA on Addressing Tax Issues/IRS Representation/Readying your “Tax House” in Order to Submit an Offer in Compromise

This entry was posted on Tuesday, January 5th, 2010 at 10:01 am and is filed under Incorporating in Georgia & Entity Selection.
Tags: Atlanta Tax Clients, Duluth CPA Addresses Tax Issues. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.