Accounting News and Notes

Gwinnett CPA…Providing Bookkeeping Solutions to Gwinnett/Atlanta Business Owners

At His CPA PC we work hard to make sure your internal books and records accurately depict your company’s financial operations as this is essential to understanding exactly what your company’s financial position including short and long term cash management, turnover of accounts receivable, ageing of accounts receivable is at any given time.

This allows you to make better informed financial decisions about your company’s present and future financial goals, pricing and profit maximization.

When we prepare your business taxes we work hard to make sure you assets, liabilities, equity, revenue and expenses are properly classified and recorded including the tracking of your bank accounts, bank reconciliations, fixed assets, depreciation expense and its recording, amortization and recording of debt liquidation payments and interest expense.

These are just a few of the items we can help you with by offering financial statement tips, bookkeeping guidance and strategic financial insight.

Call us today to receive a free initial consultation. All you have to do is show up.

www.HisCPA.com A Christian CPA Firm in Duluth GA Proudly Serving Suwanee, Lawrenceville, Snellville, Lilburn, Duluth, Norcross, Peachtree Corners, Atlanta, Gwinnett, Fulton, Johns Creek, Roswell, Forsyth, Flowery Branch, Buford, Cumming, Hamilton Mill, Cheatu Elan, Winder, Gainesville, Hart County, Dunwoody, Grayson, Alpharetta, Roswell, Dunwoody, Sandy Springs & Tucker as an Award Winning CPA

This week at His CPA PC…We Provided Bookkeeping Guidance to Gwinnett Business/Atlanta Owners by…

Helping them with their bank reconciliations

Advised a business owner to do their sales tax reports themselves rather than the additional expense of having an outside firm do it.

Helped guided a Gwinnett business owner to use a payroll service so that they will keep their payroll processing fees as low as possible as well as to be sure that all of their payroll reports and payments are timely filed.

Helped Gwinnett Business owner in understanding how their internal accrual books timing differences reconcile to their cash based tax return.

Helped a C Corporation convert to an S Corporation for tax purposes.

Helped an Single member LLC convert to an S Corporation for tax purposes.

Completed several corporate/business income tax returns.

Helped Atlanta business owners in properly classifying and compiling their business receipts into their company’s balance sheet and profit and loss.

Guided two rental property owners in setting up a separate LLC so that their family will have legal liability protection from any potential legal risk/exposure.

As an Atlanta CPA for decades I have learned that it is frequently the questions that you do not know to ask that are the most important. Ask His CPA today what a Faith Based CPA firm can do for you and your business.

Duluth CPA Teaches Gwinnett/Atlanta Business Owners Bookkeeping

If you have the full time day-to-day and hour-to-hour responsibilities of running your business the last thing you will want to do at the end of the day is your own bookkeeping.

At His CPA PC We Can Help You With…

• Outsourcing of Financial Statements

• Outsourcing of Bookkeeping

• Overseeing of your In-House Bookkeeper

• Serving as a Part-time Virtual CFO/Controller

As an outside Certified Public Accountant, His CPA PC provides Part-Time Virtual CFO and controller support including guidance on:

• Bookkeeping and Accounting.

• The initial set-up of your company’s books and chart of accounts.

• Payroll and Sales Tax administration.

• Monthly and Quarterly Financial Statements.

• Monthly Management Reports including substantive ratios, trends and gross margin analysis.

“We work with our clients to help guide you step-by-step to help you guide and manage your business towards profitability and business success.” – John Dillard CPA

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

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

Duluth Bookkeeping by Award Winning Gwinnett CPA

John Dillard CPA has been an Atlanta CPA for decades, in Gwinnett since 1982 and in Duluth for the last fifteen years. At His CPA PC we focus our business on helping Gwinnett and Atlanta Business Owners succeed.

“Working with Gwinnett Entrepreneurs and Business Owners is the focal point of our practice. Put our talents to work for you today, being sure you get timely relevant financial information.” – John Dillard CPA

At His CPA PC we can help you with your bookkeeping ensuring that:

• Your financial statements are properly compiled

• Your bookkeeping gives a true picture of your financial position

• You gain financial insight you can use to make prudent business decisions

• Your charts of accounts are well organized for the tax and the “tax man”

• Your accounts are properly classified in the proper sections of your company’s Balance Sheet and Profit and Loss

• Your payroll and sales tax reports are prepared efficiently

• Your financial reports provide essential management information

“The best way to know where you are going is to know where you are.” -John Dillard CPA

We work hard on your financial statements so that you don’t have to. John Dillard CPA of His CPA PC provides Atlanta Business Owners with the option to outsource your bookkeeping needs. Whether you need light bookkeeping or help with the most difficult of management and financial statement issues, His CPA can help. Providing Virtual CFO services to Atlanta Business Owners for decades John Dillard CPA, “brings to the table” a varied and expansive resume of credentials, awards, community involvement and expertise. To read more about Bookkeeping Solutions For Your Metro Atlanta Business see http://www.hiscpa.com/bookkeeping-solutions.html

www.HisCPA.com A Christian CPA Firm in Duluth GA Proudly Serving Alpharetta, Suwanee, Lawrenceville, Norcross, Atlanta, Gwinnett, North Fulton, Johns Creek, Roswell, Forsyth, Flowery Branch, Buford, Dunwoody, Snellville, Lilburn & Grayson as an Award Winning CPA

Atlanta CPA…C & S Corporation Corporate Income Tax Returns Are Due Soon!

C & S Corporation Corporate Income Tax Returns (Form 1120 & Form 1120S) for the 2011 Tax Year are Due soon /March 15, 2012. If you owe any income taxes that there should have already been paid either as an Estimated Tax or with your Federal Extension Form 7004. The IRS & Georgia can and will assess penalties and interest for any late payment, so care should be taken with CPA to ensure appropriate tax planning is done so that you do not unnecessarily incur undue penalties and interest.

Don’t Miss the Final Due Date for Your Corporate Income Tax Return as even a timely filed extension will lapse September 15, 2012.

If you are a C Corporation please be reminded that:

If you owe any income taxes that there should have already been paid either as an Estimated Tax or with your Federal Extension Form 7004. The Corporate Estimated Tax Payment Forms would be paid by IRS Tax Form 1120ES and the Estimated Tax Payment Forms to the State of Georgia by GA Tax Form 600ES. The income tax form and return that you will file with the IRS for your C Corporation Income Tax Return is IRS Tax Form 1120 with the Georgia Tax return being GA Form 600.

If you are a C Corporation I suggest you work with your accountant/CPA to evaluate converting your C Corporation to an S Corporation for tax purposes by filing IRS Form 2553: Election by a Small Business Corporation if you qualify. A C Corporation will pay double taxation by:

• The Corporation paying corporate income taxes on the profits earned at the corporate level on IRS Form 1120 and Georgia Form 600.

• On the active employee owners of the C Corporation when the profits are paid out to them as earned compensation or salary and reported on an individual’s W-2.

If you are an S Corporation please be reminded that:

That your S Corporation does not pay income taxes and that the profits “flow through” to an individual shareholders personal return. An S Corporation Owner will want to ensure that they have paid, ideally via payroll withholding, sufficient taxes against their federal and state income taxes, which will be reflected on their Personal Income Tax Return/IRS Form 1040, to ensure that all of their individual taxes will be paid as due to limit and avoid unnecessary fines and penalties for late payment.

Atlanta Bookkeeping

We serve clients that are located in Atlanta GA, Gwinnett County, Duluth,  Cumming, Grayson, Lilburn, Lithonia, Tucker, Suwanee, Sugar Hill, Loganville, Gainesville, Snellville, Buckhead, Buford, Dunwoody,
Forsyth, Fulton, and beyond as a Faith Based CPA Firm.

Suwanee/Duluth/Norcross CPA…IRS Warns Taxpayers of  Fraudulent Business Schemes

Small businesses can be involved in schemes as well, as can home based entities and other small business entities. Staying away from fraudsters who seek to ruin your financial good name and report those promoting fraud to taxing authorities/the IRS. Things to look out for include Those seeking to inflate your business expenses, deduction of personal expenses and misuse of claimed home-based business have become more and more common in the last few years. Working with a reputable CPA will do much to ensure your lowest legal tax bill be paid. False home-based businesses where taxpayers try to manifest the appearance of having a home-based business where none actually exists and deduct purported expenses in the business.

• Illegal schemes have gained popularity because of the aggressive marketing by fraudulent promoters who peddle illegal schemes as methods to reduce tax responsibilities.
• The schemes are considered abusive because they neglect the responsibilities of tax codes and regulations.
• Often the promoters of these schemes will market kits and or packages that will help the customer reduce and obtain more deductions on their taxes. These promoters are to be watched for and avoided at all costs. Don’t fall trey to their slick advertisements and fraudulent claims.
• Ordinary and necessary are key words when it comes to the deductible business expenses on a tax return.
• Never fall for something that seems “too good to be true” BECAUSE it probably is. Business expenses and their adequate documentation is key to running a successful business. Learning the ins and outs of what is required will both raise the efficiency of how you run your business and ensure that you always have proper documentation in the event of an audit. To learn more visit http://www.hiscpa.com/business-expenses.html

Stay safe and keep your eyes open for fraudulent promoters and too great offers. Doing this will keep you, your family, and your finances safe.

Atlanta Bookkeeping

Alpharetta/Lawrenceville/Norcross CPA…Assisting Atlanta Taxpayers Financial Statements & Bookkeeping Issues

Having computerized accounting package which has a balance sheet and profit and loss capability is a great start to being able to track your business transactions accurately and efficiently. Each year we assist many small businesses in using QuickBooks as it is good system and often has much more capability than you will ever need. For many Atlanta new and startup business we help advise them on the easiest way to use their accounting program/QuickBooks so that their bookkeeping and financial statements are both easy to prepare and utilize in making wise and informed management decisions.

Being an expert at running your business does not make you the one that should assume the responsibility of accounting for your business. By applying our decades of experience we are well suited to guide you to track the financial and operational affairs of your business so that your bookkeeping issues and preparation of your financial statements is seamless and painless.

Atlanta Part-Time Virtual CFO http://www.youtube.com/watch?v=ZDEgIDuDv_g&feature=mfu_in_order&list=UL

www.HisCPA.com

A Christian CPA Firm in Duluth GA Proudly Serving Alpharetta/Suwanee/Lawrenceville/Norcross/Atlanta/Gwinnettt/North Fulton as an Award Winning CPA

Atlanta CPA: Bookkeeping for Suwanee/Alpharetta/Duluth

http://www.youtube.com/watch?v=wvnFzCGkmpg

Atlanta CPA: Bookkeeping for Suwanee/Alpharetta/Duluth

Award Winning CPA: Serving Duluth/Alpharetta/Suwanee
http://www.youtube.com/watch?v=pHO0nzqMn8g

Virtual CFO/CPA Serving Duluth/Suwanee/Alpharetta
http://www.youtube.com/watch?v=_5sk8ZQjDtY

John Dillard, CPA of His CPA, PC
1940 Woods River Lane, Duluth, GA 30097
Phone 770-814-9304 www.HisCPA.com A Christian CPA Firm

Atlanta CPA…Need Quick Help with Your Bookkeeping/Using QuickBooks?

Need Quick Help with Your Bookkeeping/Using QuickBooks? At His CPA PC we believe your needs are important and should be responded to FAST.

Today at 8:58 a.m. we received a call from a new client seeking advice with their internal bookkeeping and what accounting package they should use. Then…

Today at 11:00 a.m. we had our first initial meeting with the client, while offering them 30 minutes of time for an initial free consultation. Then…

Today at 11:30 a.m. we began showing them how to use QuickBooks in a way that was most efficient to their business needs focusing on the recording of their checkbook transactions, revenue from various sources, disbursements, initial account set up, their Balance Sheet & Profit and Loss, bank reconciliations, recording of fixed assets, 2011 Tax Planning & Converting their LLC over to an S Corporation for tax purposes.

If you want good tax answers fast and believe that you want to be treated as more as a client number, call John Dillard CPA today of His CPA at 770 814 9304 and visit www.HisCPA.com

Dillard CPA – Bringing Christian Values to Accounting and Tax Preparation in Metro Atlanta    http://www.hiscpa.com/christian-CPA.html

Dillard Nominated for 2006 Gwinnett Chamber Small Business Award http://www.hiscpa.com/businessaward.html

Small Business Administration’s Accountant Advocate of the year in Georgia for 1999 http://www.hiscpa.com/pressrelease1.html

To set up your proprietorship as an S Corporation ASAP. For more information and guidance see  http://www.hiscpa.com/incorporating-articles.html

Proudly Serving Norcross/Alpharetta/Lawrenceville as a CPA for Decades

Learn how different entity types are taxed visit  http://www.hiscpa.com/article6.html

Dillard Works to Improve Rights of  Young Crime Victims   http://www.hiscpa.com/community.html

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.