Award Winning Alpharetta/Atlanta CPA Reminds Taxpayers That Personal Income Tax Returns are Due April 15, 2010

The initial due date for personal returns is April 15. For returns not filed by that date both the IRS and GA allow for a six month extension. Please be reminded that there are no valid extensions after the October 15 final due date lapses. Please be reminded that an extension to file is not an extension to pay and that you are required by tax law to pay applicable taxes as the monies are earned or you will be subject to additional penalties and interest. When processing personal returns our primary concern is both accuracy and ensuring that ever taxpayer pays only their lowest legal possible tax. Below is a sample letter that we might send to encourage taxpayers to forward all of the necessary documents and information required to properly file the return:

In getting started on your personal return I did not see: 

-What you paid in estimated tax payments by date to both the IRS & GA for 2009. For 2010 I suggest we do tax planning (after you give me a net profit before distributions and salary to the owners) so I might advise you to adjust your withholding accordingly. I recommend all of my clients pay all of their taxes via payroll withholding as the IRS and GA will add tax penalties and interest for late payment. For all Business Owners I recommend you use a payroll service to help out with the burdensome administrative and reporting responsibilities of processing payroll. 

-I did not see the property taxes/ad valorem on your personal vehicles. 

-I need the purchase date of the stock you sold so that I can properly classify the gain between short and long term and capital gain.

Please be reminded that the mileage rate for 2009 is 55 cents per mile. For 2010, the mileage rate is 50 cents per mile. Please turn in an expense report monthly to get reimbursed for these and any other business expenses you might have paid personally. IRS tax rules require you to have a day by day log to support business miles. Please be reminded that extending the filing of a return does not delay the need to pay as you go as both the IRS & GA will bill you for penalties and interest if you do not pay your taxes during the tax year to which they relate.

John Dillard, CPA of His CPA, PC (An Atlanta Christian CPA firm) 1940 Woods River Lane, Duluth, GA 30097  Phone 770-814-9304   http://www.hiscpa.com/    http://www.john-dillard.com/ To retain John Dillard CPA (An Atlanta Christian Speaker/Author) for your business group or church congregation, you can contact him today at 770.814.9304 

His CPA PC…A Christian Atlanta CPA Firm: Never Underestimate the Long-Term Benefits. Dare to Attempt Something so Great for the Kingdom of God that it is doomed to failure, lest Christ be in it!

Atlanta/Duluth GA  CPA on Required Documentation to Prepare Corporate and Personal Income Tax Returns

Below is a sample letter that might be used to assist a taxpayer in ensuring that tax returns are properly prepared and substantive data is provided in order to adequately prepare both corporate and personal income tax returns, while keeping one’s tax bill as low as legally possible, while also staying focused on long term and strategic issues:

I am following up on the data you forwarded and had the below critiques. Please go over these ASAP and send back to me the revised data:

-If you are treating and recording the business’s you have listed separately they need to be appropriately listed and recapped. Please review/advise.

-Please confirm if/that you are doing all of your business in the corporate account. Otherwise you risk losing the tax advantages and legal protection of being incorporated.

-As you are using business mileage all others costs relative to the car should be treated as Shareholder Distributions. In the future all of these monies (such as repairs/advalorem/maintenance, gas, insurance) should be paid personally.

-Please take off of your business listings any monies you paid personally as charitable contributions and forward to me a recap of your charitable giving, while providing copies of year end statements from the organization you donated to.

-Please note that tax law will only allow you to deduct a business phone in your home, provided it is a second line.

-Please list the Insurance and Property tax on your home and utilities as Shareholder Distributions and then to pay these monies personally in the future.

-Please note tax law does not allow the deduction for the cost of clothing, unless it is for a uniform that is unsuitable for other use.

-Please confirm if the rent expense you listed was paid to an outside landlord.

-Please be sure for all corporate activity to list both the beginning and ending checkbook balance.

-Please advise if you have any other income, dividends, interest income, W’2’s etc.

-Please be reminded that tax law requires you to pay your taxes as  you go. Please advise of the dates of all estimated tax payments to both the IRS and to GA.

-Please be reminded that the rules of an Offer in Compromise require all taxpayers to be current on both their tax filings and payments. Accordingly it will be imperative to both pay all taxes on your 2009 returns  ASAP and to forward to me what your estimated profit will be from each business for 2010 so that I can advise you accordingly what you should be sure to pay as taxes as you go for 2010.

-I suggest ASAP that you retain a payroll service and to begin processing your W-2 wages and your required withholding. Please be reminded the above OIC (Offer in Compromise) rules will, as well as tax law, require you to pay yourself a fair and reasonable salary given position and profit.

Utilizing a payroll service will do much to make this administratively burdensome process more seamless than if you strive to go it on your own. To learn more visit http://www.hiscpa.com/payroll.html

Knowing what is a legal tax deduction and the documentation thereof is essential to sound business management. To see  how you can be ready http://www.hiscpa.com/business-expenses.html

Ensure that your workers are properly classified predominantly to ensure that there are no workers, who are truly employees, that you are in error classifying as employees, visit  http://www.hiscpa.com/independent-contratctor.html

Contact HIS CPA PC (A Christian Atlanta 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 an Atlanta CPA. 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!    

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.

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.

Award Winning CPA Serving Grayson, Norcross & Forsyth  Provides Tax Tips for Atlanta Taxpayers 

 Ensure You Do What You Can to Avoid an Audit and to Keep Your Tax Bill as Low as Legally Possible

Avoiding the most common pitfalls taxpayers make is critical to your personal financial success.  Careful discernment and wise application of tax law is an essential and critical part of avoiding otherwise avoidable IRS notices, penalties, responsibilities, IRS audits and amendment of prepared returns.  As a Body of Believers, we are commanded to give unto Caesar what is Caesar’s.  As such and based on the premise of the U.S. tax system, we as taxpayers are solely responsible for the initial filing of our returns and the fair and just filing of our lowest legal possible tax.  Avoiding these top pitfalls that many fall prey to will be an integral step in the proper preparation of your return. Below is a sample letter we might forward to a taxpayer to help ensure that all income items are reported and that all legally deductible items are captured. 

Below is a list of Data needed for your personal return. ASAP after I get that along with your corporate data I will get the returns completed and out your way ASAP. 

-It appears you are renting your old home here. If so, please compete the attached being sure to prorate items between the time of personal use versus renting. Also, I will need the mortgage statement on this property and the cost/tax basis so that I can record depreciation. 

-Do you rent or own in Georgia as I did not see any mortgage statements. 

-I did not see any information on the moving expense reimbursement you had mentioned. Please forward. 

-Did you have any other income such as capital gains, distributions from pensions, interest, dividends etc. 

-I did not see the property tax on the cars. 

-I need the flea market/garage sale value and itemization of the items you gave to Goodwill. 

http://www.hiscpa.com/article3.html Gwinnett/Duluth CPA Teaches Personnel Keys to Managing Business Growth
http://www.hiscpa.com/article6.html Georgia CPA Teaches the Tax Effects of Entity Choice
http://www.hiscpa.com/marketing-efforts.html Tracking Marketing Statistics for Your Georgia Business 

And this is only some of the information available on our web site. You also have at our blog a host of other varied and timely tax and business management issues you can use. 

John Dillard, CPA of His CPA, PC (An Atlanta Christian CPA firm) 1940 Woods River Lane, Duluth, GA 30097  Phone 770-814-9304   http://www.hiscpa.com/    http://www.john-dillard.com/ Contact John Dillard CPA (An Atlanta Christian/Speaker & Author) to retain him to speak to your business group or church congregation.

 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, 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.

Duluth CPA Illustrates Directory of Tax Issues Facing Atlanta Taxpayers When Preparing for Their Year-End 2009 Taxes

Failing to Prepare is Preparing to Fail. We focus on what we can do to interpret the future solely than rather how best to interpret the past. The below will give you a sampling of what you can personally do to get your business ready for you yearend 2009 tax bill:

Based upon your advice that your business will net approximately $100,000 more than last year, you will want to make sure you pay by year end $30,000 to the IRS and $6,000 to GA. 

I am mailing to you Estimated Tax Payment Forms for you to use to pay any shortfall.

Though these are dated to be paid 1-15-10, please be sure to pay them by 12-31-09. 

Please note the estimated tax payment forms I am sending you are blank. To fill in the amount and pay please use the above tax amounts that will be owed for the year less the respective withholding. Please be reminded that tax law requires you to pay a fair and reasonable salary given position and profit.

Please be reminded that you can fund a SEP/IRA up to 25% of your gross wages. To the extent you opt to fund a SEP/IRA then you can reduce the year end estimated payments by 28% to the IRS and 6% to Georgia

To help illustrate, I have provided the example below: 

If your year to date federal withholding is $18,000 and you decide to fund your SEP/IRA by year end by the amount of $20,000 then you will reduce your year-end estimate by $2800.

Original Tax Estimate to IRS without SEP/IRA                       $ 30,000

Less year to date federal withholding                                            18,000

Less tax savings of funding SEP/IRA                                              5,600

Net amount to be paid IRS by year end                                      $ 6,400

To learn more about how you can prepare for your year-end taxes visit:

http://www.hiscpa.com/incorporating-ga.html Duluth CPA Helping Georgia Business Owners for 30 Years
http://www.hiscpa.com/incorporating-nv.html Gwinnett CPA Advises Of Incorporation Pitfalls
http://www.hiscpa.com/incorporating.html Gwinnett Christian CPA Helps with Basics of Incorporation
http://www.hiscpa.com/business-tax-returns.html Duluth Christian CPA Helps Georgia Business’s with Corporate Income Taxes
http://www.hiscpa.com/depreciation-expense.html Atlanta Christian CPA Firm Helps Explain Depreciation Expense Deductions
http://www.hiscpa.com/tax-basis.html Atlanta Christian CPA Firm Advises on Selecting an Accounting Method
http://www.hiscpa.com/independent-contratctor.html Duluth Christian CPA Firm Helps in Determining Employee vs. Independent Contractor Status
http://www.hiscpa.com/employee-checklist.htm Gwinnett CPA Firm Advises on Hiring Employees – A Checklist for Small Businesses

 John Dillard is an Christian Speaker/Author and an Atlanta CPA. 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 Atlanta 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.

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.

Gwinnett CPA Teaches Business Clients Tax Law While Focusing on Operating Results 

When a CPA does a tax return they are best suited to give useful financial advice that an owner can use to turn information into profits. Just as a doctor will give invaluable insight to their patient, a CPA should be a clients closest financial confidant. Below is a sample letter that might be sent to a client to assist both in ensuring future business profitability and adequate tax documentation for a corporate/business client:

Regarding Your Corporate Returns

-Your cost of goods sold (cost of doing business) is 90% leaving only 10% to cover salaries and other expenses creating a book and tax loss of $100,000. I suggest ASAP that we review our pricing guidelines and adjust so that margins are at least 30%. This would allow for you operating expenses to remain the same and break-even. To ensure profitability, given present expense levels, I would suggest your strive for a gross profit margin of  35%. Please be reminded that the K-1 losses that are not currently deductible due to basis limitations are called suspended losses and are rolled forward until you have sufficient tax basis.

-Tax law does not allow S Corporation owners to deduct tax losses only to the extent or your tax basis (which is calculated predominantly by prior retained earnings and current loans made to the company). Therefore only approximately $15,000 of your $100,000 of tax losses are deductible.

-Tax law requires all S Corporation owners to take a fair and reasonable salary given position and profit. Based upon your operating results you might consider lowering your salary until profitable levels are maintained, while being sure to maintain the reasonableness statutes required by the IRS.

Regarding Your Personal Returns

-Please get to me a copy of the year-end statements showing total mortgage interest, cash contributions to charity and real estate taxes.

-Please get to me the property taxes paid on your personal vehicles.

-Please get to me the original purchase price and date of your rental property.

-Please turn in an expense report to get reimbursed for your medical premiums

-I did not see Association fees on your rental property.

Bookkeeping for a Small Business
Learn the ABC’s of accounting for the business and financial operations of your business. Visit http://www.hiscpa.com/keeping-books.html 

Preparing and Reviewing Financial Statements
Financial results of your business are like a doctors chart of their patient, this will help enable you to understand financials and their use. See http://www.hiscpa.com/financial-statements.html

Monitoring Your Books at the End of the Month
Month-end control procedures are critical, as any variance to these will negatively impact the reliability of your internal financial. These are just a few of the tips we give clients each and every day. http://www.hiscpa.com/monthend.html

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.

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!    

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.

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.

Duluth CPA Presents Excellence in Service, Every Step of the Way 

Recently I had the opportunity to meet with one of our best clients to assist with pulling their information together in order to prepare their income taxes. As a CPA we serve both their business/corporate income tax returns as well as their personal and are very involved in ensuring that every single client, every single time, receives every legal deduction available. Below is a letter we recently received after such a meeting: 

I want you to know how much I appreciate you.  You were a champion with me today.  Your going over the items with me taught me so much.  I really appreciate how much you helped me today and let me come at a later time and explained what I could not understand.  Your are an excellent role model. 

God bless your efforts.   

I tried to use the list you wanted initially but I could not see how I could put everything into those categories.  I will begin in a week to start my posting on ledger sheets monthly and have those as the titles for each.  Then we can see if that will work. My mother did that for years as a bookkeeper.  Everything worked out fine.   

God bless us as we work for HIS kingdom.  Prayers for you. 

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 Atlanta Entrepreneurs.

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!    

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 Preparing Your Personal Income Tax Return 

Tax deadlines frequently cause people to panic and to make decisions too quickly. Though the October 15th filing deadline for Personal Income Tax Returns is here, it is wise not to rush and to be sure that you make financial and tax decisions that are valid. Also during the tax preparation process it is the best time to help educate clients on tax issues and rules as well as to ensure that all appropriate tax information is utilized. Below is a sample letter one might use to assist a taxpayer in that process: 

This will confirm your advice that you wish me to re-file your 2008 Personal Income Tax Return Married Filing Separately, which is the highest tax bracket. This is confirm that you have forwarded a copy of the previously prepared joint return marking items on it that should be taken off the return.  

This is to confirm that you are handling all payroll and 1099 issues, your county property tax report, and your business license. 

This is to confirm that you are aware of the need to have annual Board of Directors, Officers, and Shareholder’s Minutes meetings and that each year you should pay the annual fee with the Secretary of State’s Office to renew your corporations annual registration. 

Please be reminded that you need to keep documentation of business miles by day by vehicle. 

This is to confirm that you are aware that all active employee owners have to take a fair salary given their position and profit and that the IRS is a pay as you go system and that you are required to pay your taxes as you earn profits. 

Also I suggest we meet at your earliest convenience to look to set up a retirement account for you and your business both to limit ongoing tax obligations and to set aside money for retirement. 

To prepare your Personal Return I will need to know:

-Which child are you going to claim.

-Who gets to deduct or how is to be treated to handle the $3000 in contributions to charities, $2000 of state  income tax paid with the 2008 return, Real Estate Taxes on your primary home, $600 of Property Taxes on cars and $100 of Foreign Tax Paid.

-Please confirm if you should claim all of the rental properties 

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 America’s Entrepreneurs.

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!    

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.

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.

Final Deadline for 2009 Personal Income Tax Returns is October 15. 2009

Another year is getting closer to the end and Christmas is rapidly approaching. Although the original due date for Personal income tax returns is April 15th, a properly filed extension allows a corporate taxpayer to file their return by October 15, 2009. The IRS allows taxpayers to file for an automatic six-month extension, Form 4868. Keep in mind that an extension to file is not an extension to pay and that both the IRS and the state/Georgia expect you to pay your taxes as you earn the monies. Please be reminded there are no valid extensions after the October 15th and the final personal return due date lapses. There a checklist you can use to pull the information together to prepare your personal return at http://www.hiscpa.com/newclient.html

John Dillard is an Christian Speaker/Author and Certified Public Accountant. 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 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!

 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.

Duluth CPA Presents Ensuring that no Tax Deductions are Missed 

Leaving no stone unturned should be your goal when preparing your year-end income taxes for both your business and yourself personally, with thoroughness being the best way to ensure that your returns are correctly prepared. Below is a sampling of such a critique to ensure that you have all of the legal tax deductions allowed and to also ensure that you report all of your taxable income: 

Open Items for your Personal Return

-I did not get a year-end earnings statement from your investment advisor for your one account there that was after tax (not a pension account). Please advise

-I did not get the K-1 from your real estate investment.

-I did not get your business expenses against your 1099/independent contractor income.

-I need your mortgage interest, car tag tax, and cash and property contributions to charity.

-So far I have one pension distributions for $12,000. Is this all from your pension accounts?

-Please be reminded that tax law requires all active S Corporation owners who are active in the business to take a fair salary given position and profit. Though you did not have any profits you issued a Form 1099 to yourself, which is statutorily prohibited as you are not independent, as you own the company. In the future, if profit levels remain at approximately the same levels I would show these payments as repayments on the loan balance due her. If profit levels increase then you would want to be a wage earner and receive a W-2 as tax law requires that all active employee owners take a fair and reasonable salary given position and profit. 

-I did not see copies of checks and forms where you made estimated payments.

-I need a copy of where you board approved your ministerial allowance. 

- I have not heard anything back from the IRS about any Form 5500 about your P.C., as your old pension account in the business name was closed in prior years.
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 Atlanta Entrepreneurs.

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!    

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.

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.

Duluth CPA Illustrates Tax Return Preparation 101: Ensuring You Have Adequate Documentation to Prepare Your Income Taxes 

Besides the vast technical skill and experience required a CPA needs to prepare returns ensuring that all clients pay their lowest legal possible tax, a CPA needs to be well skilled and suited in other key areas of the profession as well such as:

-Tax Planning for your Metro Atlanta Business  http://www.hiscpa.com/year-end-tax-planning.html

-Planning for Georgia Retirement  http://www.hiscpa.com/retirement-planning.html

-Preparation of Financial Statements for Georgia Business Owners  http://www.hiscpa.com/financial-statements.html

-Incorporating in Georgia/Entity Selection  http://www.hiscpa.com/article2.html

-Avoiding Unnecessary Tax Audits for Atlanta Taxpayers  http://www.hiscpa.com/working-with-the-irs.html

-Much, Much, More  http://www.hiscpa.com/articles.html  

To this end a CPA should be well-organized thereby ensuring clear concise feedback to help taxpayers ensure that they are constantly reminded of tax law and documentation requirements thereof. To this end I have provided  below a sample of such correspondence.

 Please be reminded that I still need to finish for your personal return. 

-Copies of all of your year-end mortgage statements.

-Copies of all of your year-end real estate taxes.

-A recap of all of your cash contributions listing by vendor totals and copies of all receipts over $1000.
-A recap of all of your property contributions listing by vendor totals and copies of all receipts over $1000.

-A copy of your year-end tuition fees paid detailing for whom paid.  

For  your investments you have where you forwarded K-1 that had been received, that you had personally loaned to that entity $60,000 in 2009 whereas the K-1 showed a loss of $80,000. Tax law does not allow for taxpayers to deduct more than their tax basis, which is a cumulative function of the cumulative effect of prior financial transactions. Did you loan to the entity enough in prior years to be able to claim these losses (i.e., have you funded all previous losses claimed inception to date and still have sufficient loans/tax basis from 2008 and prior tax years to cover 2009 losses)? 

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 Atlanta Entrepreneurs.

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!    

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.

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.