Accounting News and Notes

Atlanta/Norcross CPA Offers Atlanta Business Owners Advice in the Preparation of the Company’s Internal Books & Records

Atlanta Bookkeeping & Financial Statements
 
Failing to gain the insight of a professional CPA we run the risk of poor bookkeeping for our business, poor entity selection and the overpayment of our taxes. Also a CPA will do much to ensure that you record and track all valid and justifiable business deductions that you are entitle to. Below is a sample inquiry we might receive from a client looking to adequately book and record their accounting transactions:
 
John,
It made me feel good when you said I was making progress so thanks for that. Here are a couple of questions because I want to start out right this year. 
1)  I have attached a spreadsheet with all of my regular expenses.  I am sending you this to make sure I am paying the right things directly out of my business account instead of transferring all of my money from my business account into my personal account and paying everything from there (like I have done forever).  I have two columns, one for business account and one for personal account, I have put an “x” to signify which account I should pay the bill from.  The ones I have highlighted in yellow are the ones I wanted to make sure about.  Some I guessed at based on our conversations.  I have also listed out to the side which category I should designate it to in Quickbooks. 
2)  I want to make sure I am getting money from clients and then doing the right things with it.  Is this the process?
Receive check from client
Deposit into business account
For business expenses (phone): write a check from business account and record in proper category (telephone & utilities)
For personal expenses (tithe): write a check to my personal account and record in proper category (shareholder distribution)
I hope that question makes sense.  That whole process from the moment I get the check was pretty blurry but if this is right I think I am getting there. OK, thanks for your help.
 
Below is my response:
 
For the items on your checklist I suggest that:
 
-You pay all utilities personally.
-That if you have any portion of your home used exclusively for business that once a quarter that you get a reimbursement check for the prorated portion.
-Please be reminded that tax law allows you to only deduct a second business phone in your home.
 
Be sure before at include your current year data that you add all business expenses including business mileage on personal car.
 
You have the below process correct. Put all business revenue into corporate account and then pay only business expenses out of business account.
 
After you get all data current we will look to add you to payroll and also have you start getting a paycheck.
 
I will go ahead if we have not ready and prepare the paperwork to convert you business to an S Corporation for tax purposes.
 
There are three things you will want to take out of the business monthly, which includes a paycheck, a monthly expense reimbursement and a shareholder distribution.
 
You will want to be sure to pay all personal bills that you incur out of your personal checking account, and not the corporate account.
John Dillard, CPA of His CPA, PC, (A Metro Atlanta CPA Firm) 1940 Woods River Lane, Duluth, GA 30097  Phone 770-814-9304   http://www.HisCPA.com/    http://www.John-Dillard.com/
 
Dare to Attempt Something so Great for the Kingdom of God that it is doomed to failure, lest Christ be in it!

We serve clients that are located in Atlanta GA, Gwinnett County, North Fulton County, Dekalb County, Hall County, Clayton County, Cobb County, Forsyth County, Hart County, Jefferson County, Duluth, Alpharetta, Johns Creek, Lawrenceville, Milton, Norcross, Snellville, Roswell, Buford, Cumming, Grayson, Lake Hartwell, Suwanee, Sugar Hill, Loganville, Lilburn, Dunwoody, Gainesville, Decatur, .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, Sandy Springs, Smyrna, Peachtree City, Douglasville, Newnan, Griffin, Woodstock, Carrollton, Forest Park, Canton, College Park, Cartersville, McDonough, Riverdale, Fayetteville, Covington, Stockbridge, Conyers, Clarkston, Butts, Carroll, Haralson, Heard, Jasper, Lamar, Meriwether, Pickens, Pike, and Spalding.

Norcross/Johns Creek/Roswell CPA Advises  on Keeping Good Financial Statements for Metro Atlanta Taxpayers… The Accounting and Bookkeeping Series

This is the second of a Series about how Atlanta Business Owners & Entrepreneurs can make sound Accounting & Bookkeeping Decisions to Both Track and Record their Business Assets, Liabilities, Income and Expenses. Below is a sample letter we might use to help get the data we need to help a business owner as they take steps to correct errors in their internal books and records. Having served as an Atlanta CPA for decades, I know firsthand that the beginning to properly running and managing an Atlanta Business is to have Adequate Bookkeeping & Financial Statements that reflect actual operating results.

All successful business owners either initially or over time become extremely proficient in their field of choice for it is by this growth of knowledge and wisdom which affords them the insight to make prudent decisions. Each and every hour of a business owner’s day, there are a series of insignificant and important thoughts and directions that directly impact the profitability of a business. Continually you are faced with making a positive impact towards bringing your business closer or further away from your goal. A company’s financial statement is the measuring stick by which you are able to gauge a company’s progress along the business continuum and are able to accurately measure the distance between where you are and where you want to be. Below is a sample note that might be sent to help a business owner properly evaluate and track their internal bookkeeping. Over the decades of being an Atlanta CPA, I have learned that running a business is hard enough, even while having proper books records and financial statements.

Below are Critiques to your Internal Books: 

-On your 12-31-09 Balance Sheet, please correct the Retained Earnings account so it equals to the prior Corporate Income Tax Return as filed. 

-Please confirm the cash balances listed agrees to your checkbook balance  listed on your checking account and on the Balance Sheet. 

-Please confirm that your Accounts Receivable balance listed agrees to your A/R aging detail 

-Please confirm your Accrued Revenue account is correct. 

-Please confirm your Accrued Payroll Tax Commission account is correct. 

-Please confirm that your Accrual Accounts are correct. 

-Please confirm your Customer Deposits Balance is correct. 

-Please confirm that your Accounts Payable balance listed agrees to your A/P aging. 

-Please confirm that the amount listed on credit cards agrees to the total of the detail of business charges owed at year-end.

 -Please get to me copy of the company’s W-2’s issued and the W-3 so that we can ensure that the gross wages agree to the Profit & Loss. 

-Please be reminded that companies that are an S Corporation for tax purposes are required when making Shareholder Distributions to do these in accordance with the percentage of ownership of the business. Please review the Shareholder Distributions to ensure compliance. 

-Please be reminded that Business/Corporate Gifts by tax law are limited to $25 per recipient per year. Please advise of any amount over and above this threshold. 

-Please ensure that all new fixed assets purchased in the period are added to the schedule. I did not see the items/cost being added to the Balance Sheet. 

-The Depreciation Expense on the Profit & Loss looked high relative to the Fixed Asset schedule. Please review/correct. 

If you have any questions along the way, please do not hesitate to call. 

What, then, shall we say in response to this? If God is for us, who can be against us? Romans 8:31 Why are these verses here? Learn how His CPA became a Christian Accounting firm visit http://www.hiscpa.com/christian-CPA.html  

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, and Incorporation in Georgia, Corporate and Personal Income Tax Returns, Part-time CFO, Virtual Controller, Business Planning, Offer in Compromise, Back Taxes, Business Acquisitions/Sales, Forensic Accounting, Business Valuations and Bookkeeping.   

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

Atlanta Bookkeeping & Accounting Services

Critiquing the S Corporation Books of a Business Owner

Many business owners struggle with the preparation of their own internal financial statements. It is widely believed that if a CPA can help a client keep their own internal books current and correct that a business owner will help mitigate CPA fees as well as having more reliable internal data, from which to run their business. Having served as a CPA and a Believer/Christian for decades it is essential to help clients to the best of the customer’s advantage and having reliable internal books is the best first step in that direction. Below is a sample of the critiques a business owner might receive to help guide in the preparation of their own internal bookkeeping:

Below Please Find Critiques to your Internal Books as of 10-31-09 

-Do you have Bank Reconciliations for all of the cash/checking/saving accounts.

  -Please be sure your Accounts Receivable Aging Equals the Balance Sheet. 

 -Please be sure your Accounts Payable Aging Equals the Balance Sheet. 

-Please be sure your Accrued Expenses and Accrued Payroll Taxes, are correct. 

-Please be sure that your Customer Deposits account is correct and current. 

-Please be sure that you have in your Accrued Workers Compensation Insurance Account is correct all open and due monies are correctly recorded. 

-Please be sure that all of your Prepaid balances are accurate and correctly reflect the amount of monies that you have paid in advance and have not yet used/accrued. 

-Please be sure you have take out of A/R any amounts you deem uncollectible, while being sure to change the write off to the Allowance for Doubtful Accounts. 

-At present you have enough Depreciation Expense to cover a prorated amount as this is an interim statement. Please reduce this amount accordingly. To understand depreciation expense and its application and use for your business http://www.hiscpa.com/depreciation-expense.html  

-If the distributions on the books are monies paid to all shareholders based upon their ownership percentage, then leave the number as is. However, if these monies are to primary owner only please re-class these monies to the Due to Shareholder account.  

-Please be sure the gross wages on the Profit and Loss equals your year to date payroll reports. For help on how to prepare your company’s financial statements see http://www.hiscpa.com/financial-statements.html  

-Your retained earnings account should be adjusted  in 2008 to the amount per last year’s Balance Sheet balance. Please review, correct and re-send the corrected data. 

-Please be sure that your Accounts Receivable over 120 days in your ageing and an anticipated amount of uncollectable monies in your A/R balance are less than your Bad Debt Reserve account. To help understand how to prepare and manage your company’s financial statement visit http://www.hiscpa.com/profit-loss-statements.html  

-What is the Negative Balance in Cash/Checking account as this would suggest you have written checks over your checkbook balance.  

- I would suggest to re-title your checking accounts to reflect the name of the bank and type of account. 

-Your Accounts Payable Balance reflects a negative balance, which would indicate an error or overpayment to an vendor. Please review and correct.

-Please be sure your Accrued Credit Cards are correct and reflect the open and due business monies incurred to the business account.

-You have $4000 in the Line of Credit account on the Profit and Loss. If this is interest expense, please re-class. If it is a principal payment, please code it to the liability account accordingly on the Balance Sheet.

-Your retained earnings account should be adjusted  on your internal books in 2008 to the amount per last year’s Balance Sheet balance. Care should be exercised to ensure that no other Balance Sheet accounts are inadvertently adjusted from their “closed” year end balances that agree to the filed tax returns.

-Please break out into the appropriate business expense categories that at present you have added to the Operating Expense category, as tax law requires appropriate business categories to be used.  

 If you need help in reclassifying these monies, please do not hesitate to call. For tips to monitor your monthly books visit http://www.hiscpa.com/monthend.html  

ASAP after you make these changes please re-send so that I might re-review.  

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

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 Preparing Financial Statements for  Your Recently Incorporated S Corporation or LLC

Atlanta Bookkeeping & Accounting Services

When I am working with a client to help them understand the many business and tax nuances associated with preparing their own internal financial statements, it is the best time to help a client understand both the financial and tax impact of business decisions reached. Below is a sample of a letter that I might accordingly send a client.

In Critiquing the Internal Data You Forwarded I have the below questions/suggestions: 

-I did not see a Balance Sheet. When you forward this please be sure to forward along a reconciliation of the monies/notes payable to owners. Please be sure that your 12-31-08 Balance Sheet equals the Balance Sheet on the Business Income Tax Return. 

-I recommend all of my clients use business mileage rather than actual automobile corrections as most always results in less record keeping and typically allows a larger tax deduction. 

-Please break out your Insurance into the below categories as tax law directly affects as to how these monies are treated for tax purposes:

                           Insurance – General

                           Insurance – Medical/Dental

                           Insurance – Life Insurance

                           Insurance – Disability 

-You had several smaller accounts that I would suggest you combine into and record as Office Supplies (Advertising and Promotion and Bank Service Charges, and Ask My Accountant). General goal is to have enough accounts as required by tax law to correctly prepare return and to manage the substantive financial affairs of the business.

 -Put into the proper categories the Uncategorized Expenses and Uncategorized Income. 

-I would re-title Professional Fees to Legal & Professional fees and then put into this account CPA and Attorney Fees. Please review and advise as to what monies are presently coded to this account.

 -I understood you had not added anyone to salary yet. If to date you have paid independent contractors then I suggest you movie these monies to an account in the Cost of Goods Sold section called Independent Contractors. 

To help you with this process review our article at http://www.hiscpa.com/financial-statements.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  

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.

Maximizing Value When Selling Your Entrepreneurial Business 

Atlanta Bookkeeping & Accounting Services

Once an owner has decided it is time to make a change in the company’s ownership, the owner usually seeks advice from financial advisors.  The owner reviews the tax returns and financial statements for the past few years.  Owners’ thought processes lead them to set a bottom line price before seeking a valuation.  After a valuation is performed by a qualified professional, the owner typically is in “shock”.  The company documents do not support the owner’s value.  Typically a company’s value maybe understated based on the documentation.  Many investor owned, privately held companies manage through emotional decisions rather than by the numbers.  Owners should rely on the advice of professionals and fully document their company’s operations before they decide to sell. 

Reposition the Documentation. 

1.         Maximize the EBITDA by applying financial ratios.  Go beyond the usual cost cutting and receivables management.  Understand how management of the financial ratios may change the bottom line.

 2.    Fully document the use of add backs. Include all add backs to maximize the value of the company. 

Reposition the Operations. 

1.    Reposition the operations so that 80% of the annual revenue is contractual, reoccurring revenue.

2.    Eighty percent (80%) of the customer base should generate a majority of the company’s revenue.  A company is less valuable when a majority of the revenue is generated by 20% of the customers. 

3.    Create management depth.   Adding an operations manager, trained to handle the day to day operations, identifies management strength to a prospective buyer and spreads the perception of customer loyalty to the company, beyond the owner. 

4.    Determine the risk factors associated with the owner’s ability to grow the company.  The owner can increase the value of the company through the development of a plan to reduce and eliminate risk factors.  Reposition the company’s weaknesses as opportunities by altering management strategies.  

5.    Prove the value of a company through acceptable documentation and turn a buyer’s skepticism into confidence.

To discover more about positioning your business for sale you can contact Terry Robinson, Broker of the tfr Group, Inc. at 770 262 6491or by e-mail at tfrobinson.net

Atlanta CPA Provides Tax Tips to Have a Successful IRS Audit Experience

These basis tax tips will do much to ensure that you keep adequate books and records to support your business deductions as well as to ensure that you will have much of the documentation that an IRS agent will want to see during the performance of an audit. Being prepared is your best bet and it starts each and every day by keeping good books and records so that if the tax man cometh that you are prepared and ready to support the business expenses you have claimed. Having served as a CPA to Tucker and Lilburn area for decades I have learned that starting with the basics and fundamentals of sound recordkeeping is always a prudent and wise choice.

Tax Tips to Ensure Adequate Business Receipt Documentation:

• For meals and entertainment please be sure to keep receipts from restaurants (credit card receipt not sufficient) and document in detail and the nature of the business discussion.
• For all travel overnight, please be sure to keep all contacts and supporting information so that you can prove nature of trips, who you met with and have documentation and supporting papers verifying the nature of all of your business trips.
•  For all cell phones, deduct only the  portion that is business use.
• I suggest not claiming home office deduction in the future.  If however you opt to, I suggest you take pictures and keep proof including layout/plans of house detailing how much of the home is used exclusively for business use.  Any portion of home also used for personal use cannot be claimed/deducted for the home office deduction.
• Pay all expenses by check as items are incurred (and not at year-end) being sure to have an adequate and detailed receipt clearly indicating the business nature of any and all expenditures. Also keeping all of the canceled checks and bank statements are critical to having substantive corroborating information.
• Get reimbursed/made whole/promissory note for all cash paid expenses paid that the IRS is not allowing.
• Evaluating incorporating your business if you plan to continue to grow it, for both legal personal protection and potential tax savings when business becomes profitable.
• Being sure to keep a by day log to support  and detail all business miles.

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 all John Dillard CPA today at 770.814.9304

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

Serving 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, Gwinnett County, 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, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Haralson, Heard, Henry, Jasper, Lamar, Meriwether, Newton, Paulding, Pickens, Pike, Rockdale, Spalding, Walton, 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 and Woodstock

Christian/Author & Business/Speaker John Dillard CPA Keynote Speaking and Lunch & Learn…Serving Atlanta, Georgia & Beyond

Atlanta Bookkeeping & Accounting Services

In my pursuit of speaking engagements, I am looking to promote and offer:

-Free tax and business advice to entrepreneurs. To gain a feel for what I do feel free to visit www.HisCPA.com Just a small sampling of what we can over includes:

Entity Selection and Incorporating in Georgia  http://www.hiscpa.com/article2.html
Tax Analysis of LLC vs. S Corporations        http://www.hiscpa.com/article6.html
IRS Representation/IRS Tax Problems      http://www.hiscpa.com/irs-audit.html

Offer in Compromise/Back Taxes    http://www.hiscpa.com/offer-in-compromise.html
CPA/Tax Services                                                http://www.hiscpa.com/
Financials/Financial Statements             http://www.hiscpa.com/what_we_do.htm
Bookkeeping/Accounting                   http://www.hiscpa.com/keeping-books.html

Corporate Income Taxes/Tax Returns        http://www.hiscpa.com/tax-services.html

Personal Income Taxes/Tax Returns          http://www.hiscpa.com/tax-top-ten.html
Payroll Administration                                  http://www.hiscpa.com/payroll-tax.html
Retirement Planning                             http://www.hiscpa.com/retirement-planning.html

Financial Reporting                            http://www.hiscpa.com/attestation-services.html

Strategic Business  Checklist            http://www.hiscpa.com/business-checklist.html  

Atlanta CPA & Beyond                          http://www.hiscpa.com/tax-services.html

An Award Winning CPA                        http://www.hiscpa.com/pressrelease1.html
 

-Engagements to Christian churches, congregations and groups looking for Christian Inspiration using my books as a back drop and how I take Christ along with me to work. To read more visit www.John-Dillard.com Topics we can over include;:

Overcoming Life’s Obstacles; God’s Way   http://www.john-dillard.com/lifes-911s.htm
Exhorting Lay Ministers Accomplish God’s Will http://www.john-dillard.com/voiceofone.htm

How Believers Can Take Christ Along to Work  http://www.hiscpa.com/

Christian Decision Making http://www.hiscpa.com/blog/2009/05/20/christian-decision-makingtaking-christianity-into-the-world/

Tips to Successful Ministry Financing http://www.christianpost.com/blogs/cpa/2009/02/church-ministry-and-business-financing-11/index.html

Check out our Blog on the Christian Post http://www.christianpost.com/blogs/cpa where over one million Believers visit monthly

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

John Dillard, CPA of His CPA, PC, 1940 Woods River Lane, Duluth, GA 30097  Phone    http://www.hiscpa.com/    http://www.john-dillard.com/

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

Serving 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, Gwinnett County, North Fulton County, DeKalb County, Hall County, Clayton County, Cobb County, Forsyth County, Hart County, Jefferson County, Duluth, Alpharetta, Johns Creek, Lawrenceville, Milton, Norcross, Snellville, Roswell, Buford, Cumming, Grayson, Lake Hartwell, Suwanee, Sugar Hill, Loganville, Lilburn, Dunwoody, Gainesville, Decatur, and Beyond

Georgia Keynote Speaking:

Atlanta Bookkeeping & Accounting Services

We have created programs and presentations for:

Covering a wide range of topics covering all types of Preparation and the Use of Financial Statements, Change Management and Trend Analysis Issues for Business Owners. We work closely with business owners each and every day bringing thirty of experience to bear to “Keep Your Tax Bill as Low as Legally Possible,” while serving as a part-time Virtual Chief Financial Officer/Controller for Your Business. Our keep it simple style will help you, your business, associates and employees develop management expertise in an open and interactive coaching style that will keep you coming back for more.

• Community Associations & Centers
• Kiwanis, Lead Groups, Rotary
• Chambers of Commerce
• Professional, Business & Civic, Business & Civic Associations
• Libraries
• Colleges/Universities
• Corporate  Meetings

Understanding Financial Statements & Change Management

Bookkeeping for a Small Business
Unleash the power of information by learning the ABC’s of accounting for the business and financial operations of your business.

Preparing and Reviewing Financial Statements
As your financial results of your business are like a doctors chart of their patient, this will help enable you to understand financials and their use.

Monitoring Your Books at the End of the Month
Consistent 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.

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

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

Atlanta Keynote Speaking by Atlanta CPA

Atlanta Bookkeeping & Accounting Services

We can cover a wide range of topics covering all types of Financing to help business owners grow their business. We work closely with entrepreneurs each and every day bringing our decades of experience to bear to “Keep Your Tax Bill as Low as Legally Possible,” while serving as a part-time Virtual Chief Financial Officer/Controller for Business Owners throughout Atlanta. Our keep it simple style will help you, your business, associates and employees develop management expertise in an open and interactive coaching style that will keep you coming back for more.

We have created programs for:

• Kiwanis, Lead Groups, Rotary
• Chambers of Commerce
• Professional, Business & Civic Associations
• Libraries
• Colleges/Universities
• Community Centers
• Corporate “Lunch & Learn”

Financing & Preparation & Utilization of Financial Statements/Management Information

Funding Your Business – Loans, Leases, and Lines of Credit
There are many financing methods that are available as your business grows. This guide will help you select which one is best for you.

Alternative Funding Methods for a Growing Business
A guide on what to do when you banker says no leading you to discover new funding vehicles to help your business achieve its goal.

Working with a Banker and Obtaining Credit for your Business
Finding a good banker and maintaining a close rapport keeping them well apprised of your business’s trends and operations results will help him be able to say yes when you need them the most.

Examine Your Options Before Taking Out a Mortgage
A changing marketplace and a tightening economy are impacting financing decisions as well as the whole of the economy impacting this critical financial decision.

There is no magic pill to take that will make you business “bankable.” As you would expect banks make loans with the goal of being repaid, thus some of their primary concerns will center on your credit, cash flow, character, past operations and business plan. These items when taken as a whole will give the banker specific and general information alike when determining on whether to extend credit to you and your business.

Having served as a Public Speaker and CPA in the Atlanta Area for over twenty years, I have learned that business owners and entrepreneurs are still seeking guidance on similar issues of decades ago. This reference material will have you seeking after more.

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