Accounting News and Notes

His CPA (a Christian CPA firm)

Duluth/Suwanee CPA Proudly Serving Gwinnett for 30 Years and our Comprehensive List of Services

Contact John Dillard CPA at 770 814 9304 and let’s get started today.

http://www.hiscpa.com/irs-selection.html Atlanta CPA Teaches How Audits Are Selected

http://www.hiscpa.com/irs-audit.html Georgia CPA Advises on How to Handle IRS Audits

http://www.hiscpa.com/working-with-the-irs.html Atlanta Christian CPA on IRS Representation

http://www.hiscpa.com/paying-taxes.htmlGwinnett CPA on Paying Your Taxes and Extensions

http://www.hiscpa.com/avoiding-audits.html Duluth CPA on How to Avoid IRS Audits

http://www.hiscpa.com/offer-in-compromise.html Atlanta CPA Advises on Offer of Compromise, Back Taxes and IRS Problem Resolution

http://www.hiscpa.com/comparing-tax-methods.html Gwinnett CPA on National Sales & Flat Tax

http://www.hiscpa.com/article6.html Gwinnett CPA Advises on Tax Effects of Entity Choice

http://www.hiscpa.com/about_us.htm Providing Accounting and Tax Services to Georgia Businesses for Over Thirty Years

http://www.hiscpa.com/irs-representation.html Georgia IRS Representation, Offers in Compromise and Back Taxes

http://www.hiscpa.com/testimonials.htm What Clients of John Dillard, (An Atlanta Christian CPA) Have to Say

http://www.hiscpa.com/tax-services.html Georgia CPA Tax Preparation and Planning Services

http://www.hiscpa.com/what_we_do.htm Atlanta CPA Financial Accounting Services
for Small Business and Individuals

http://www.hiscpa.com/small_business_plans.htmlWriting Georgia Business Plans for Over 30 Years

http://www.hiscpa.com/marketing_plans.html Georgia CPA Helps with Business Marketing Plans

John Dillard is an author and Certified Public Accountant (All Rights Reserved). To See how he takes Christ along with him to work visit http://www.hiscpa.com/ (a Christian CPA firm) and for his latest book Overcoming Life’s 9/11’s: Job’s Journey.

“Dare to Attempt Something so Great for the Kingdom of God that it is doomed to failure, lest Christ be in it!”

Preparing the S Corporation Income Tax Return K-1 A Guide How to Guide to Prepare a K-1

www.HisCPA.com A Christian CPA Firm in Duluth GA Proudly Serving Suwanee, Lawrenceville, Snellville, Lilburn, Duluth, Norcross, Peachtree Corners, Atlanta, Gwinnett, Johns Creek, Roswell, Forsyth, Flowery Branch, Buford, Dunwoody, Grayson, Alpharetta, Roswell, Sandy Springs & Tucker as a Faith Based CPA

www.HisCPA.com A Christian CPA Firm in Duluth GA Proudly Offering Corporate and Personal Income Tax Returns, Offer in Compromise, Tax Advocacy, Tax Mitigation and Tax Compliance, Back Taxes, IRS Representation, IRS Appeals, IRS Collections, IRS Installment Plans & IRS Wage Levies

Duluth/Lawrenceville/Johns Creek CPA on Converting Your Georgia C Corporation or Georgia LLC to an S Corporation

Incorporating in Georgia

With changes over the last ten plus years in state law, more and more Georgia based businesses are incorporating as an LLC because of the ease of the initial set up of the business entity. However, frequently this may not be the best “tax choice” for the business as an LLC pays FICA and Medicaid taxes on all of its net earnings out of the business, whereas an active S Corporation owner will pay FICA and Medicaid taxes on its W-2. Tax law does require, however, that all S Corporation owners are to take a fair and reasonable salary given position and profit. Though the election is not in the best interest for all business’s as many LLC’s should stay an LLC for both legal and tax purposes, becoming an S Corporation is often a prudent decision for the following types of business:

-Trade Contractors such as builders, painters, landscapers, electricians, plumbers, etc.

-Retail shops such as boutiques, restaurants, clothing stores, furniture, appliances, video equipment, etc.

-Computer technicians such as contractors, retailers, repairs, programmers, etc.

-Sales Representatives including residential and commercial real estate agents, brokers, including those of most all types and territories.

-Distribution companies, resellers, wholesalers, and those in the distribution chain of a product of service.

-Service companies including consultants of all types, single owner physicians, dentists, doctors, chiropractors, etc.

C Corporations were once much more popular as an entity choice but as consumers and entrepreneurs became more aware and informed, C Corporations are much less pursued as a viable option as business owners sought to legally avoid the “double taxation” exposure of C Corporations as they are taxed first at the corporate level and then again at the personal level when monies are paid out of the corporation to the companies’ respective owners.

How S Corporations are Taxed

There is no income tax paid by as S Corporation when the annual tax return is filed to the IRS. However, as a part of the corporate return which is prepared, a Form 1120S, there is an attached schedule which shows each owners respective ownership percentage and via a Form K-1 for which each shareholder should reflect on their personal return. K-1 profits, losses, and shareholder distributions are all required by tax law to be issued based upon the each shareholders ownership percentage. In order for losses to be deductible a shareholder has to have a positive tax basis, which is a component of past profits, losses, and loans to and from the business. If a shareholder has no basis to cover losses reported on a K-1, they are by tax law considered to be “suspended losses” and can be rolled forward to future years when the shareholder has positive basis, which can be created by future years profits or the shareholder loaning money to the business.

An owner should report the K-1 profit, which is based upon their share of the business and not the amount of their shareholder distributions. This is a common misnomer about S Corporations and often leads to confusion for the new business owner. To that end it is best to remember that you pay taxes on the profits when you make them and not when you take them. For example generally speaking if your business nets $100,000 and you are the sole owner, you will pay taxes on $100,0000 whether you take zero dollar of shareholder distributions, a $100,000 or any number in between. Thus if you were to have a $100,000 profit in any given year and take no distributions then you would be able, absent any other issues, to take shareholder distributions in subsequent years with no additional tax responsibility as these monies would have already been taxed.

The rules of being an S Corporation are only four and many businesses will qualify. To be an S Corporation you must have:

• Have a December 31st year-end.
• Have less than 100 shareholders.
• Shareholders have to be U.S. citizens or resident aliens.
• Only one class of stock

For LLC’s that change from an LLC for legal purposes to an S Corporation for tax purposes, the LLC remains an LLC with the Georgia Secretary of State along with all other legal purposes. Thus, your LLC makes solely a tax election which affects none of the other contracts, licenses, trademarks, legal filings, and legal obligations of the LLC.

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

To learn more about tax entities and the taxation thereof visit http://www.hiscpa.com/article2.html There you will also discover a wide host of resources for American Entrepreneurs

www.HisCPA.com Incorporating in Georgia, Setting up an LLC in Georgia, Setting up an S Corporation in Georgia, Georgia Entity Selection, Converting Your GA LLC to an S Corporation, Converting Your GA C Corporation to an S Corporation, GA LLC, GA S Corporation and Converting Your Georgia Business to an S Corporation

Duluth/Suwanee CPA Helps New Georgia Business Get Started on the Right Financial Footing: Incorporating in Georgia

Recently I had the below inquiry from our website. Desiring first to serve we focus on Serving the Atlanta Business Community even before they become clients:

We are a new business just outside Atlanta and are seeking a solid Business CPA to help us with our business, tax, and licensing issues. We are just getting our business started and want to ensure that we get it off on the right foot. We would appreciate your guidance in this area and look forward to hearing from you soon and all about of your payroll tax and withholding issues.

Below is our response designed to assist and serve others in our community and beyond:

Thanks for visiting www.HisCPA.com I would welcome as you begin your new business and to ensure that you are aware of and correctly apply all business tax, and licensing issues. As payroll is perhaps the largest most difficult of administrative issues for business owners to address, I suggest all business owners utilize the services of a payroll company to assist and to write a monthly paycheck.

For the other issues please feel free to give me a call and I will be happy to assist. John Dillard CPA, 770 814 9304.

Getting your Newly Formed Business Incorporated in Georgia started off on the right foot is essential to prudence and good business planning when starting a new business venture.

Getting Your New Georgia Business Started
Understanding many of the basics of the start of the incorporation process will do much to ensure that you are well-versed and able to make wise and informed decisions. As these issues will affect your business operations and finances during the lifetime of your business they are essential to getting started well. Go to http://www.hiscpa.com/incorporating-guide.html

Determining Where Incorporate Your New Geogia Business
The decision of where to incorporate your business is a critical component of getting your business started. Learn what you need to know to make a well-informed decision. See http://www.hiscpa.com/incorporating.html

Gerogia Corporation Forms and Registrations Checklist
Whether you are just incorporating or have been in business for years. This summary will enable you to quickly locate the forms and guidance you need to ensure your business maintains tax compliance. Visit http://www.hiscpa.com/checklist.htm

Incorporating Your Issues for Your New Georgia Business Leadership Knowing who will lead your business, their morals, beliefs and work ethic are essential to success in your new business venture. Determining who should be at the helm and who should follow will do much to avoid needless delays and time lost in aimless decision making. http://www.hiscpa.com/business-leadership.html

Incorporating the Details for Georgia Business Owners
Learning the basics of incorporation will do much to ensure that you do not make a costly mistake. Discovering the details of what all is involved in your new Georgia business will much to ensure you avoid costly mistakes and blunders. http://www.hiscpa.com/incorporating-details.html

www.HisCPA.com Incorporating in Georgia, Setting up an LLC in Georgia, Setting up an S Corporation in Georgia, Georgia Entity Selection, Converting Your GA LLC to an S Corporation, Converting Your GA C Corporation to an S Corporation, GA LLC, GA S Corporation and Converting Your Georgia Business to an S Corporation

Duluth/Suwanee/Johns Creek CPA Illustrates Addressing S Corporation Status with the IRS for a Georgia S Corporation

Determining Your Entity Type Will Affect Both Your Tax Bill and the Way You Operate

Frequently we are asked to follow-up after either a taxpayer or a prior accountant has filed a return in error to fix a prior misstatement or filing. Below is a sample letter one might use if you had inadvertently filed as a C Corporation when the business was an S Corporation and should have filed as a flow-through entity or an IRS Form 1120S:

IRS
Atlanta, GA 39901

Dear Sir or Madam

I am writing to follow up on your IRS Letter (copy enclosed). Please note I have enclosed a copy of the S Corporation return, as well as the S Corporation acceptance effective the beginning of the year. Please note the company was not a C Corporation for the tax year noted in the enclosed tax notice and accordingly should and should not file a Form 1120. Accordingly the tax monies assessed in the attached notice are incorrect as the company was an S Corporation for the 2009 tax year, as further reflected on the enclosed Form 1120S. If there had been a previously filed Form 1120 for the company, please void it as it is invalid. Please fix your records accordingly to show that the client was an S Corporation for the tax year in question.

Accordingly please refund any monies previously paid.

I appreciate your attention to this matter and please do not hesitate to contact me should you have any questions.

Very Sincerely Yours, John C. Dillard, CPA, President

When looking at what type of entity your business should be, we strive to balance the legal protection issues vs. the tax savings. Over the years, we have developed the mindset that there is no perfect election but there are ones that are better than others. To read more visit http://www.hiscpa.com/article2.html

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

To learn more about addressing IRS Tax Issues and Back Tax Returns visit http://www.hiscpa.com/working-with-the-irs.html

Duluth/Suwanee/Johns Creek/Lawrenceville CPA: Income Tax Preparation

Duluth/Suwanee/Johns Creek/Lawrenceville CPA: Financial Statements & Bookkeeping

Duluth/Suwanee/Johns Creek/Lawrenceville CPA: IRS Representation, Back Taxes, Offer in Compromise

Duluth/Johns Creek/Suwanee CPA Teaches Determining Where to Incorporate: Incorporating in Georgia

Recently I received an inquiry about entity choice for an individual who was not a U.S. Citizen and was considering their varying options of what state would be best for them to incorporate. Careful consideration of your incorporation options will do much to eliminate unnecessary state filing fees, state returns, notices, and annual filing fees. Below is the inquiry:

I have a client who lives out of the country and who is NOT a US citizen. He will be purchasing, selling and owner financing properties in the US and specifically in Georgia. He desires to set up an LLC to own and manage these properties. Friends of his have recommended a Delaware LLC since he does not have to be a US citizen to own/manage the DE LLC. I am not sure about the rules for Georgia, Florida or Nevada LLCs. His primary concerns are the ability to own/control the LLC as a non-US resident and the tax advantages/consequences of ownership

Below is my response:

I would not recommend a Delaware corporation as he would still have to register here as a foreign corporation doing business here in GA. Take a look at the below specifically regarding the issue you mentioned as well as a link on other incorporating issues for your review and edification. http://www.hiscpa.com/incorporating-articles.html

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 time line 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.

www.HisCPA.com Incorporating in Georgia, Setting up an LLC in Georgia, Setting up an S Corporation in Georgia, Georgia Entity Selection, Converting Your GA LLC to an S Corporation, Converting Your GA C Corporation to an S Corporation, GA LLC, GA S Corporation and Converting Your Georgia Business to an S Corporation

Duluth/Suwanee CPA Advises Gwinnett Business Owners: Understanging How Incorporating Your Georgia Business Can Affect Your Taxes and Liabilities

There are many reasons a taxpayer may look to incorporate their business ranging from legitimacy, liability limitation and tax mitigation. Understanding these many nuances is your best first step in ensuring that you chose an entity type is best achieving success given your business model and operations. Entity selection is determinant on many issues ranging from citizenship, number of shareholders, ease of operation, tax obligations and year-end filings and even who your shareholders will be. Though many of these issues will conflict, working with a professional who is well versed in these issues will help you make the best election available for your new Georgia Business.

Choosing an Entity Type

Your initial choice of entity is perhaps the most important tax, financial and legal decision you might ever reach. Being well versed in these areas is essential to a wise and prudent decision.  To learn more visit http://www.hiscpa.com/article2.html

Tax Effects of Entity Choice

Carefully considering the tax effects of your entity choice is essential to getting your business off on the right foot. Being careful to avoid, if at all possible, the double taxation of C Corporations and then selecting the right entity for your business from both a tax and legal perspective is critical. To discover how entity choice and affect you see http://www.hiscpa.com/article6.html

Getting Started

Understanding many of the basics of the start of the incorporation process will do much to ensure that you are well-versed and able to make wise and informed decisions. As these issues will affect your business operations and finances during the lifetime of your business they are essential to getting started well.

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

To learn more about addressing IRS Tax Issues and Back Tax Returns visit http://www.hiscpa.com/working-with-the-irs.html

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  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!

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.

Atlanta CPA on News for Georgia Business Owners: Understanding a LLC, LLP and Partnership When Newly Incorporating

Recently I had the opportunity to sit down with a new business owner who had been blessed to be fairly profitable in a very short amount of time. However, for convenience when the business was originally incorporated they did not take the time to sit down with a Certified Public Accountant to discuss the tax nuances of different entity structures. Understanding these differences is essential to wise and prudent entity and tax choices.

Limited Liability Company, Limited Liability Partnerships and General Partnerships

An LLC, LLP and Partnerships are all taxed in the same manner. Selecting one of these types as a business entity would be a poor selection for a business such as a print shop, as they will all result in higher taxes with no additional advantages for the printer.

It is useful to develop a mindset that if you do not need to be another entity type then you need to be an S Corporation. For example, generally speaking a printer that was an LLC, LLP, or Partnership will pay higher taxes with no additional advantages as opposed to being an S Corporation. A Limited Partnership is also an option that could be explored when certain partners want to limit their liability and exposure.

Here  are some of the reasons you might want select an LLC or LLP as your entity choice:

• If you are a lawyer or physician’s practice then all of the partners’ personal assets are at risk if one partner does something wrong, while if an LLC or an LLP, only the offending partners personal assets would be at risk. This is because of the professional service statutes for these types of professionals, but these rules do not relate to our printer.
• If you are a real estate developer and you had a piece of land that had dramatically increased in value, you can transfer that property to an LLC, LLP, or Partnership without having to pay any capital gains tax. Also with these entity types, you can take shareholder distributions that are not based upon ownership, whereas in an S or a C Corporation they have to be. Again, this does not relate to our printer client.

To read more on these issues see:

Choosing an Entity Type for Your New Georgia Business Your initial choice of entity is perhaps the most important tax, financial and legal decision you might ever reach. Being well versed in these areas is essential to a wise and prudent decision. See http://www.hiscpa.com/article2.html

Determining How Your New Georgia Business Will Be Taxed: Effects of Entity Choice Carefully considering the tax effects of your entity choice is essential to getting your business off on the right foot. Being careful to avoid, if at all possible, the double taxation of C Corporations and then selecting the right entity for your business from both a tax and legal perspective is critical. Visit http://www.hiscpa.com/article2.html

Getting Your New Georgia Business Started Understanding many of the basics of the start of the incorporation process will do much to ensure that you are well-versed and able to make wise and informed decisions. As these issues will affect your business operations and finances during the lifetime of your business they are essential to getting started well. Go to http://www.hiscpa.com/incorporating-guide.html

Determining Where Incorporate Your New Geogia Business The decision of where to incorporate your business is a critical component of getting your business started. Learn what you need to know to make a well-informed decision. See http://www.hiscpa.com/incorporating.html

Gerogia Incorporation Forms and Registrations Checklist Whether you are just incorporating or have been in business for years. This summary will enable you to quickly locate the forms and guidance you need to ensure your business maintains tax compliance. Visit http://www.hiscpa.com/checklist.htm

Incorporating Your Issues for Your New Georgia Business Leadership

Knowing who will lead your business, their morals, beliefs and work ethic are essential to success in your new business venture. Determining who should be at the helm and who should follow will do much to avoid needless delays and time lost in aimless decision making. http://www.hiscpa.com/business-leadership.html

Incorporating the Details for Georgia Business Owners Learning the basics of incorporation will do much to ensure that you do not make a costly mistake. Discovering the details of what all is involved in your new Georgia business will much to ensure you avoid costly mistakes and blunders. http://www.hiscpa.com/incorporating-details.html

Dare to Attempt Something so Great for the Kingdom of God that it is doomed to failure, lest Christ be in it!

www.HisCPA.com Incorporating in Georgia, Setting up an LLC in Georgia, Setting up an S Corporation in Georgia, Georgia Entity Selection, Converting Your GA LLC to an S Corporation, Converting Your GA C Corporation to an S Corporation, GA LLC, GA S Corporation and Converting Your Georgia Business to an S Corporation

Duluth/Lawrenceville/Johns Creek CPA  Assists Taxpayers with Converting Atlanta Business Taxpayers to an S Corporation

His CPA PC: Providing Bookkeeping & Accounting Services to Metro Atlanta

About S Corporations/What Entity is Best for Your Georgia Business

Subchapter S Corporations can have no more than one hundred shareholders and they all need to be U.S. citizens or resident aliens. This corporation type almost always has to have a calendar year as the fiscal year. S Corporation rules have been around since the 1950s and were set up to simplify the rules and regulations of being a business owner.

Liability Protection and Subchapter S Corporations

A subchapter S Corporation, like a C Corporation, affords the business owner personal liability protection from business risks. Some of the keys to maximizing that protection are to treat the corporation like one by doing all your business in the corporate name, signing all of your documents listing your corporate title, not co-mingling any personal issues/bills in the corporation, and by having your annual Board of Directors and Annual Shareholder Minutes Meeting.

Tax Advantages of S Corporations/Incorporating in Georgia

No income taxes are paid with the corporate return. The profits of the business are reported on the personal tax return of the S corporation’s shareholders. As long as you pay yourself a reasonable salary, you may also take shareholder distributions out of the business that are devoid of FICA/Medicaid taxes.

Another advantage of S Corporations is that if you have corporate losses, and you fund (you put the money in the business) those losses personally, then you can deduct those losses on your personal return. Any losses that are funded by the bank (a direct loan from the bank to the corporation) or by trade creditors are not deductible. Below is a sample letter one might send to the IRS to ensure that the S election has been properly received and timely processed by the IRS.

Taxpayer Advocate Office

Atlanta GA  

Dear Sir/Madam, 

I am writing to follow up on your IRS Letter dated 1-16-10  (copy enclosed). Please note I have enclosed a copy of the S Corporation election and the signed S Corporation return as requested. Please fix your records accordingly to show that the client was an S Corporation for the tax year in question. 

Accordingly please refund any monies previously paid. 

I appreciate your attention to this matter and please do not hesitate to contact me should you have any questions. 

Very Sincerely Yours, John C. Dillard, CPA, President

www.HisCPA.com Duluth/Suwanee/Johns Creek/Lawrenceville CPA: Income Tax Preparation, Financial Statements & Bookkeeping, IRS Representation, Back Taxes & Offer in Compromise

Duluth/Suwanee/Johns Creek/Lawrenceville CPA: Incorporating in Georgia: Understanding Differences between a GA LLC vs. a GA LLP

-Georgia Incorporation: Choosing an Entity Type Which is best for your New Business Venture

It is often confusing for taxpayers to chose which entity type is best for their business when initially incorporating. This election is an all important first decision is critical to getting started off on the right foot. Understanding these differences and nuances will do much to give business owners and entrepreneur a “leg up” and the needed knowledge to help ensure that they make a wise and informed decision.

Limited Liability Company

LLC’s are unique in that there can both be a “flow through” entity in that their earnings flow down to their respective owners personal return, while they also, for tax purposes, can be converted either over to a C Corporation or an S Corporation. LLC’s offer the flexibility and tax efficiency of a partnership while offering legal protection as well.

Limited Liability Partnership

LLP’s are unique from a regular partnership in that they offer limited liability protection for its partners. In an LLP a partner is not responsible for the professional misconduct or negligence of other owners. Unlike in an regular C or S Corporation the partners of an LLP will manage the business directly whereas in a corporation, a Board of Directors as well as Officers would be elected.

Other Tax Entity Options

For the most part the basic rules of being an S Corporation have remain unchanged for almost fifty years. S Corporations are required to have a Board of Directors, and their attendant meetings and to elect elected Officers in order to run the business. In many small business’s these different capacities are held by the same individual, the owner. An S Corporations overall tax bill will most always over time be less than an LLC, LLP or Partnership. All of the net active earnings from an LLC, LLP  and Partnership are subject to FICA/Medicaid earnings whereas in an S Corporation only the earned wages or W-2 of the owner are subject to FICA/Medicaid taxes, as long as the S Corporation owner pays a fair and reasonable salary given position and profit. An S Corporation as well, is a flow through entity where all of the net earnings flow through the corporate return to the business respective shareholders.

Choosing the right entity type will have many other significant tax, legal, retirement and financial issues as well. Consulting with your trusted CPA and adviser is your best first step to making a wise and informed decision.

To learn about incorporating in Georgia visit http://www.hiscpa.com/article6.html

John Dillard is an author and Certified Public Accountant (All Rights Reserved). To See how he takes Christ along with him to work visit http://www.hiscpa.com/ (a Christian CPA firm) and for his latest book Overcoming Life’s 9/11′s: Job’s Journey.

“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

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

Duluth/Suwanee/Johns Creek/Lawrenceville CPA: Income Tax Preparation

Duluth/Suwanee/Johns Creek/Lawrenceville CPA: Financial Statements & Bookkeeping

Duluth/Suwanee/Johns Creek/Lawrencevile CPA: IRS Representation, Back Taxes, Offer in Compromise

Johns Creek/Suwanee/Duluth CPA Advises Atlanta Business What Entity Type Is Best for Your New Business

When Incorporating in Georgia it is critical to your tax bill to be sure you select the entity that is the best for your business. Be sure that you work with a CPA BEFORE you get your business incorporated to ensure you start off on sound financial footing.

Below is a sample of a recent inquiry we received off of our web site covering the many and varied details of incorporating:

I’m setting up my own new business in Georgia with me as the sole employee, doing business out of my home, very minimal start-up costs and I believe I should get E&O insurance. Do you have any recommendations on whether I should setup as a LLC or an S Corporation (I really don’t know the difference)? I’m assuming a Georgia S-Corporation is just more expensive & complicated to set up…and a PS (is that sole proprietors). Somehow I stumbled across your site and I love seeing the faith spread along with your business. God has worked wonders in my life. I’m really not sure why a LLC is so frequently recommended if I have E&O insurance. Hopefully, you might have some leads on this information. Thanks and best of luck to business in Georgia. God Bless

Choosing the correct entity for your new Georgia business will have tax implications for the whole period that you own your business. Being sure that you make a well informed and judicious decision will do much to ensure that you make a prudent decision. Reviewing these articles and meeting with a business CPA who is well versed in these matters will do much to ensure you make an informed and wise decision.

Incorporating 101: Keeping the Process of Incorporating Your Georgia Business Simple

Incorporating in Georgia
Starting your business off with the best tax elections for your business are amongst the most important business decisions you will ever reach. Discover how you can best set yourself up for business success as you consider this critical part of your business start-up. See http://www.hiscpa.com/incorporating-articles.html

Nevada and Delaware Incorporation
The incorporation of your business may cost you thousands in unnecessary registration and filing fees. Discover the ins and outs of this important decision and how to avoid unnecessary pitfalls and headaches. Visit http://www.hiscpa.com/incorporating-nv.html

Determining Where to Incorporate
The decision of where to incorporate your business is a critical component of getting your business started. Learn what you need to know to make a well-informed decision. Visit http://www.hiscpa.com/incorporating.html

www.HisCPA.com Incorporating in Georgia, Setting up an LLC in Georgia, Setting up an S Corporation in Georgia, Georgia Entity Selection, Converting Your GA LLC to an S Corporation, Converting Your GA C Corporation to an S Corporation, GA LLC, GA S Corporation and Converting Your Georgia Business to an S Corporation