Accounting News and Notes

This summer, our family has the unique opportunity to go to a Navajo Indian Reservation and serve as missionaries through our church.  We are very excited, not only about the opportunity so serve our church, but to serve God and be His hands and feet while building relationships with the Navajo people.  It will be a great experience to share God’s love with all the wonderful people there and the opportunity to do it as a family is a dream come true for all of us.

Pueblo Pintado is a Navajo Indian Reservation located in the NW corner of New Mexico.  It is a very desolate area and most of the residents live in poverty and most students rarely even graduate from high school.  While it may seem incomprehensible in the U.S., many of the homes do not have electricity or indoor plumbing.  There is a very high unemployment rate, which leads to a high rate of alcoholism, drug abuse and violent crimes.  With all that being said, they are a wonderful, warm, loving group of people who are so appreciative when we go out and spend a week with them just loving on them, giving them undivided attention and a safe lap to crawl into.  They are slow to trust and still hold strong to their native culture.

We will be there the week of July 12th - July 19th and hope to do vacation bible school for the children, adult bible study, construction, senior home care, sports camp, community nights and more.  We hope to spend the week demonstrating God’s love through our hard work and service to the Navajo people.

Of course, none of that is possible without financial and prayer support.  The trip is going to cost a little over $750.00 per person, which will cover all our travel, boarding and meal expenses.  We would be honored if you would consider helping us in our fundraising effort by giving of your financial support and/or prayer support.  Both of them are very much appreciated and without the support of wonderful friends and family like you, these trips just wouldn’t be possible.

Thank you for any help you can give us and for contributing in your own way to this wonderful mission!  If you would like to make a financial contribution, please send it to John Dillard, 1940 Woods River Lane, Duluth, GA 30097.  If paying by check, please make it out to Sugarloaf UMC.

In Him,

John Dillard

Sometimes we get so caught up in the hustle and bustle of everyday life, we forget to make time for the things matter most…nourishing our soul.  If we don’t make time for God’s feeding of our hearts and minds, everything else suffers.  Some thoughts:- Neglecting devotions will cause you more problems, quicker, than just about anything you can think of. Spending unrushed time alone with God in His Word is like a fountain of refreshment being released from the core of your being.-  When people think of you, how you spend your time, and were to describe who you are by your habits, would one of those habits be your daily quiet time?  You can celebrate God in a crowd, but you can only get to know God one on One.-  Our daily times in the Word are not necessarily designed to produce theologians but they are designed to produce disciples.  The Word of God is food for your soul, before it’s fodder for your ideas.-  Enter the Bible daily and there will be a beautiful dusting of heaven on everything you do.  That is what will distinguish you from everyone else in the world, more than trimmings or trappings for those will only slow you down.

In our lives there will be times in life when we will be standing on the precipice life’s trials. Often the distance between victory and defeat will be the very slimmest of margins. In those moments we need God along our side guiding our every step. By passionately studying we learn that the God of the Old Testament, which I previously believed to be harsh, to be one of great love and compassion.  As tribulations reign down in our lives in ever cascading waves of terror we are forced to our knees in prayer to discover that the God we thought had forsaken us had never left our side. Just as the terrors fell on the fateful day of 9/11 so are our very lives, children, health, jobs, and marriages threatened as we strive to thrive in this world. By leaning on the very word of God through life’s fiery paths, we are able to gain the wisdom of the ages and needed strength to weather moments and seasons of life of excruciating pain.  By studying Job’s life, we are able to discover how to overcome life’s obstacles discovering that God has made a path or our escape and via our salvation guaranteed our ultimate destiny and reward. There is a reason to anticipate unexpected success and to continue on in great faith irrespective of might befall us.  Though we might all see ourselves as ordinary, God sees each and every one of us as anything but that. Each and every one of us is uniquely poised to overcome life with the power and majesty of our heavenly Father. Though we cannot choose our sufferings, we can choose the power of God in helping us overcome each and every trial. 

Super Tuesday is finally here. The largest primary ever with over twenty-four states voting with over 2600 plus total delegates combined to be determined. Super Tuesday will be, by far, the largest primary to date and may well ultimately determine who our next President will be. Over 52% of the Democratic delegates and 41% of the Republican delegates will be determined on Tuesday thus dramatically shaping who will be serving as our President for the next many years. Just the past two weeks we had several of the minor candidates dropping out allowing for both our ability to focus on just a few candidates to vote for and for the candidates themselves in determining as to who they might be running against. Though many pundits believe Huckabee to be a potential spoiler, I believe, absent a dramatic turn of events for the good, that he will also soon be dropping out of the race leaving it a “two horse” race on both the Democratic and Republican sides.

When casting your vote remember to consider:

-It is not a popularity contest. Read and understand the issues and where each candidate stands on those which are most important to you.

-Vote your conscience. What would God have you do. Pray over your options and who seems to have the best interest of the country and its people at stake.

-Evaluate each and every candidate as to who will be able to best stand the heat when things get tough. Consider who will be able to do what is right when it is not the popular choice. Remember your next president could perhaps run for re-election in four years and could well be your President for eight years.

-Contemplate whether your candidate will leave the country better off after he is elected than before while carefully evaluating their honesty, level of fiscal responsibility, and commitment to both domestic and international issues. A President of the 21st century is due to impact not only the U.S. at large but the world as a whole.

-Consider your candidate of choice able to weather the tough times and lead from ahead rather than shrinking behind advisers while still being humble enough to seek the wise counsel of others.

Our country, our lives, and the lives of our children depend on our choices today so on this Super Tuesday I believe all should start the day in prayer seeking God’s ultimate advice and counsel.

There is an upcoming bond issue concerning the Gwinnett County Schools on February 5th.  Many of us will be going to the pools to pick our presidential nominee and we need to get out the vote to continue SPLOST. This past November Gwinnett County Board of Education approved a calling for voters to evaluate a General Obligation Bond referendum on the upcoming Georgia Presidential Preference Primary. If it passes, Gwinnett voters will authorize the School Board to sell $750 million in tax-exempt, General Obligation Bonds. The repayment of the bonds will be paid off using the present personal property millage rates.

The Gwinnett County School system is facing a funding crisis and our school board is offering a direction to its voters to meet that crisis head on.  Voting yes on SPLOST will help keep Gwinnett’s school progress on track. Since July 1, 2007 thirty new schools have been built providing over 2000 new classrooms.

In the last decade, funding for the ever-expanding Gwinnett school age population has been met with both property taxes and monies from SPLOST.  But growth in Gwinnett county’s population has far exceeding the schools growth and the school board is suggesting the bond issue continue so that they can meet the demands of the growing population by constructing new schools and adding on to existing ones. To read more about the program visit www.gwinnett.k12.ga.us

Keeping this program in tact depends on you. Please vote to continue school funding with school bonds.  Our children’s education depends on it!

Although there has been a general lessening of the lack of rain in recent months, the drought continues and even worsens. To date no substantive proactive directions have been taken to both lessen the use of water, to plan for management of our present resources, and to set up procedures and policies in place to ensure that we do not ever find ourselves in this situation again. We need a public outcry from all citizens to contact their elected officials now to help them know we are not satisfied with our present situation and are determined to see that it does not happen again. We need policies today which stress the vitality and livelihood of people rather than mollusks. Though we always need to pay attention to special interest/need groups we should ever determine that the needs of a few will not outweigh the needs of many. Though we all have rights and valid expectations we should never expect those to be give up or surrendered to others without our consent or valid and wise discernment.

To stay abreast of Georgia’s lake levels you can visit the National Weather Service Forecast Service web site where at http://www.srh.noaa.gov/ffc/html/rrm.php There you can monitor and review lake levels which are updated every twenty four hours, full pool levels, rainfall in the areas listed. Though we often discuss oil as our biggest need and worry, if we were to be honest, we would soon find out that it is water. Also at the National Weather Service’s web-site you can find satellite and radar images, current forecast, and even articles on weather safety. For the sake of all and the continued economic viability of our region we need action today.

In the Democratic primary in South Carolina Obama won by an overwhelming majority over Senator Clinton by a 2:1 margin. Clinton hopefuls, who had originally fore-casted a Clinton victory soon fled the scene headed off to the state of Tennessee, where the next primary will be held soon. The Obama campaign seems to be gaining strength as his rhetoric has caused many to reminisce about a time gone by. I have caught myself being recently reminded as a result of his style and overall appeal of one of our greatest Presidents ever, John Kennedy. Evidently I am not the only one noticing as the polls seem to have recently swung in his favor as several in the Kennedy family, including Senator Ted Kennedy have recently indicated their support. If the Obama bandwagon continues this prognosticator picks him to win the Democratic nomination. Stay tuned.

Incorporating in Georgia is still the most important decision for all initial business owners. If you have developed your business model, written your business plan, and are now ready to set about the task of actually beginning your business you will want to take care care of this critical tax step. Although you are not indefinitely locked in to a entity choice as an LLC or a C Corporation can elect to be an S Corporation and an S Corporation can become a C Corporation, you initial election is most apt to be the most critical business choice you can make.

While being an LLC or LLP can be most advantages for a law firm or multiple physicians practice, these selections will generally pay more in taxes than an S Corporation as all of their net earnings are subject to FICA/Medicaid taxes while only ones W-2 from an S Corporation would be. I would suggest all multiple physician practices greatly consider the advantages of an LLC or LLP can bring as professional liability statutes allow them to be responsible for professional liability. However a normal tort issue/civil liability cannot be assessed personally so these same concerns will not be of importance to a retail, commercial, wholesaler, distributor, etc. as they would not be subject to professional liability statutes. Real estate ventures are often well suited to considering whether being an LLC,  LLP, or partnership might be in their best interests as you can move real estate both in and out of these entities without any gains being recorded and taxed.

For those looking to consider setting up an S Corporation there are four basic requirements which include being an U.S. citizen or registered alien, having one class of stock, having a calendar year-end, and having less than 100 shareholders. S Corporations continue to be a popular choice among many who do not need/have to be another entity type because of the nature of their operations or needs.

Incorporating is not for the faint of hear so be sure to consult with your CPA to get started as well as periodically to ensure that the entity selection you are presently using is best for you and your business, your tax bill, and legal liability limitation issues.

Congress is working feverishly in conjunction with the White House in an effort to provide a needed kick start to the U.S. economy. Certainly in a recession, and perhaps teetering on a depression our economy is in need of a stimulus to help get consumer and retail goods moving again. In an effort to help get monies into consumer hands the tax rebate act would give most taxpayers from $600 to $1200 with an additional $300 per child. Although many parties varied on the final form the act should include, there was great impetus on both the Republican and Democrat side to see what they might jointly accomplish to get our economy moving. As always it is good to see both parties work together, it is disappointing that more joint efforts to improve our country and world cannot be a consistent point in all of their sessions and dealings.

Now is the time to be pulling together all of the information you will need to prepare your personal return which is due April 15th. Care and due diligence should be exercised to ensure that you have all of the information that you will need to process to prepare both an accurate and timely return. It is recommended that you put all of the information that you will need to prepare your returns in a specific file for preparation of taxes and that you utilize a checklist to ensure that will have all of the information you will need to prepare your returns. The best source of what you will need for this year is a check of your prior years return and then to compare it to any changes that happened during the year such as a new child, starting a new business, moving, or any other expenses/income which will have potential tax consequences. It is always best to list all potential items for a tax review so that they might best apprise of what is taxable and deductible. In this way you are most apt to pick up all of the items you will need to file a just and fair return.

As each every taxpayer is unique it is best to re-visit this list several times annually to stay abreast of what all will be needed by year end. Also, it is well to be reminded that the IRS as well as individual states expect that the taxes due them are due as you earn the money and that otherwise (unless you meet certain very limited exceptions) that late payment will result in additional penalties and interest being assessed. So plan early and plan often so you might avoid the last minute rush and perhaps the filing of an incomplete return.