Accounting News and Notes

Atlanta/Duluth Georgia  CPA Provides Top Five Financial Tips to Success When Buying a New Business

When you get ready to buy a business it is a critical decision which you will want to approach with caution and due diligence to ensure that you are well informed in your purchase. A wrong decision will cost you great financial pain and emotional suffering whereas the right purchase will be a feather in your cap for many years to come. Below is a sample inquiry I that I might receive:

I just considering buying a new business and I am looking to investing alternatives that might be best to consider when evaluating my proposed purchase.

Below is my response:

Below you will find Top Five Financial Tips you will want to consider both in buying or selling a business.

• A Good Attorney. A good attorney is the best protection (along with following their advice of course) to help ensure that you evaluate, consider, and document all important/critical factors in making your decision. As the purchase itself is the culmination of your due diligence, you will want an attorney to draft the actual purchase agreement to ensure that all needed critical components of your decision are well documented and agreed to. Your acquisition agreement should also document to whom the total purchase price is to be allocated, as this will be important for both tax planning and to prepare your tax return at year-end.
• A Good CPA. Before you make any substantial investment in any new business venture I suggest you discuss it with a CPA who can help ensure that your due diligence allows you substantive enough information to make a wise and prudent decision. Though financing is an important part of the equation the most essential piece is to consider the nature, scope, size and anticipated results of your new business venture.
• Evaluating Past Income Tax Returns & Interim Financial. Due diligence on the company’s financial condition, I suggest that we get at least two years of financial statements and tax returns, a year to date financial statement for the year including the balance sheet and the profit and loss, a copy of all material leases that you plan to assume, a non-compete on the prior owners and any key employees, and a list of all fixed assets and their fair market value that you will be buying, a detailed list of all inventory at cost, a list of open receivables, and a list of open payables.
• Due Diligence Procedures. Determining what specific procedures were done to evaluate the integrity of the financial statements (i.e., consultations with their major vendors, customers, an evaluation of checks written being sure that all checks are valid business expenses and have been properly recorded, consultations with their banker, their prior CPA, an evaluation of their overall books and records and internal controls, and tracing several months detailed deposits to the bank statements along with reconciling the total bank deposits for the year to the financial). Also I would suggest getting copies of detailed payroll records for employees and independent contractors so that you are aware of the staffing needs/requirements and those monetary considerations. A good CPA can help evaluate these in detail looking at trends, the market, and other demographic data, and any undue/excessive concentration of business & clients, technology etc., to ensure you are fully aware of what you are buying.
•  Gain Independent Verification/An Appraisal. An acquisition that also includes the of buying real estate as part of the total purchase, you will want to determine fair market value by having an independent appraisal performed.

The above is a good list to get started and then to see where these answers/questions take you. Please note however, there is no substitute for the facts and intuitiveness that a good CPA/financial adviser can bring to the table to evaluate buying a business and its purchase/sales price.

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.

Why Your Credit Score Is More Important During the Continuing Credit Crunch

I t is always a good idea to be vigilant about your credit score, but even if borrowing loosens up a bit in 2009, you still need to do everything necessary to keep your credit score high. Fair Isaac, the company that created the FICO score, has been working on a new version of its credit scoring method that might have serious consequences for you if you.re planning on borrowing for a home or opening any new credit line in 2009.

The new version of FICO is going to be particularly focused on your balances, not only on your on-time payment records. Your top priority under this new system: Get balances down. Reports say that the new FICO revision will actually allow a bit of lenience on late payment – something that might affect more than a few consumers with the downturn in the economy. Obviously, this won’t mean that someone can chronically pay late, but once or twice won’t make the same impact as in earlier FICO versions.

Yet credit utilization – essentially the amount of credit you.re actually using relative to your credit limit – is a much bigger deal simply because high balances are so prevalent right now. From the lender’s perspective, high balances mixed with a tough economy means a higher risk of default among customers. So what’s a good target utilization rate for all your revolving credit accounts? No more than 50 percent of your credit limit, and if you can get it lower than that over time, that’s a good plan. So, the lower your credit utilization, the better your score.

What does that mean for ordinary Americans who don’t meet that under-50 percent goal? It means you shouldn’t be applying for new credit or refinancing for awhile. But because most lending institutions may continue their strict lending requirements, you might as well defer borrowing goals in favor of reforming your credit behavior.

So instead of bemoaning your tougher chances of getting a loan for a home or  a car, why not use the current environment to launch a credit makeover that will position you for a better shot six months to a year from now? Some ideas: You’ll need at least a 740 score for the best rates: You’ll often hear that credit scores of 700 and up will get you best customer status with lenders. You should aim higher. For the lowest rates and best terms, you need to get your credit score above 740 (the top credit score, by the way, is 850), so keep that target in mind. Budget: If you.ve never reviewed your spending and picked out areas where you can cut, you.ve never done a budget. Start tracking your spending either on paper or with financial planning software and start pinpointing what spending you can shift over to paying off debt.   

One more time — get those balances down: Get all your nondeductible debt under 50 percent of your credit line in each account. Go after your balances with the highest interest rates first, and once you hit 50 percent…keep trying and get those balances down further.

Get some advice: It might not be a bad time to sit down with a tax professional or a financial adviser, to talk about the way you’re going to manage your debt going forward. Keep an eye on your credit reports: Remember that you have the right to get all three of your credit reports from Experian, TransUnion and Equifax once a year for free. You can do so by ordering them at annualcreditreport.com. Don’t order all three of them at the same time, though. By staggering receipt of each of your credit reports, you’ll get a continuous picture of how your credit picture looks because the three bureaus feed each other the latest information. You’ll also be able to clean up errors as you find them and you’ll also keep an eye out for identity theft. Keep in mind that not all .free. credit report sites are free . If they ask you for a credit card number, remember they.re doing that because they want to charge you. Just go to the site above and you’ll be fine.

Get on time and pay more than the minimum: Yes, we indicated above that you might get a bit of a break on late payments with the new FICO system, but that’s a break you should consider only in a dire emergency. Electronic bill payment will allow you to save on postage while guaranteeing on-time postage, and the budgeting advice mentioned above will allow you to put a few more bucks toward getting that loan or credit card bill paid off.

Once you.re paid off, don’t close the account: In the world of credit scoring, closing accounts (even those that have not had balances for years) is a lousy idea. Lenders want to see a long record of credit management, and longtime accounts that you haven’t touched in years may actually help your score because it shows you have some restraint.

This column is produced by the Financial Planning Association, the membership organization for the financial planning community, and is provided by Tim Madison, CFP, ChFC, CASL with MONEY CONCEPTS INTERNATIONAL, INC.  who can be reached at Phone: (770) 777-8979

Atlanta CPA Advises on Atlanta Venture Capital Sources

Finding and Sourcing Financing Sources for your Metro Atlanta Business

For the newer business owner with a great idea who needs money venture capitalist (a VC) or an angel investor are often great places to start. These types of investors will often require you to give away a percentage of the company’s stock and therefore its long-term profits as opposed to a bank that will solely charge interest. Though a VC or angel investor will be therefore substantially more expensive in terms of financial outgo over the years, they are often the only valid option for an entrepreneur with a unique idea, niche, product, or service.

There are several options when combing the marketplace looking for potential investors who might have an interest in investing in your company. Web sites such as www.thefunded.com are good places to start. There you can search for potential financing options by geographic area, size of the loan needed, and type. On this site you can also obtain ratings of funds for which you might be considering, which appear to be from the prospective borrowers themselves. Seeking any substantive form of capital, whether from traditional or VC sources will necessitate one having a sound and well thought out business plan or model that will tell a story motivating a potential investor to engage. Also www.startuplounge.com and www.tagonline.org will prove useful to a potential entrepreneur in seeking financing for their venture. Working closely with your CPA and attorney and allowing for a reasonable budget to negotiate a deal, often in the tens of thousands and above, will be critical components of the process along with that business plan which will virtually sell itself.

Having personally experienced the Atlanta Venture Capital Marketplace firsthand, I have learned that pursuing a VC will most likely prove the most expensive of all Financing Options potentially available to a business owner. For those we are not quite ready to purse Venture Capital money, asset based lenders are often a viable financial alternative. For more information visit our blog at http://www.hiscpa.com/blog/2009/04/23/asset-based-lending-finding-alternative-sources-of-funding-your-atlanta-business/

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 CPA Teaches the Loan Application Process and Atlanta Loan Procurement

Author/Speaker John Dillard CPA teaches Atlanta business owners and entrepreneurs how to both apply for a loan and loan procurement

Getting Your Banker to Say Yes to Financing Needs…Getting Financing For Your Business includes getting to your banker information they will need to properly evaluate your business credit/repayment ability and whether or not to extend financing to your business. Getting these items to your banker in one well-organized and documented marketing package will do much to assist the banker/lender in both feeling comfortable with extending financing to you and your business as well as properly evaluating your business. By putting together a good “package” for the banker you have the ability to put “your best foot forward” thereby allowing your story to be told.

If you have a good business, good cash flow and good opportunities for the future, ensuring that your loan package for your banker will do much to help ensure prompt completion of your loan request. A well-organized loan package will include:

-Last two years corporate and personal income tax returns

-An interim/year-to-date financial statement

-A sound and logical business plan

-Business promotional brochures

-A narrative cover letter detailing the needs and use for loan monies

-Any other substantive corroborating financial, operational, industry, demographic and economic information

The goal of all of the information will to that it will essential tell a story and that the loan request will be viewed by the banker/lending source as a natural progression and logical decision for both the company and the bank. Keeping in mind that banks only make money when you pay back the loan in full along with interest will do much to ensure that your business plan and strategy for the use of the money are well-thought out and organized. Essentially a bank or traditional lending source is looking to extend credit only when they believe you and they both believe they will be repaid.

Recently we helped one of our clients with an introduction to a smaller but well capitalized bank in placing with them a total credit of $200,000, in spite of the recent bad economic news. I have learned over the years while practicing as an Atlanta CPA that frequently working with small banks offers much more flexibility than larger banking institutions. Accordingly this particular $200,000 line was place with what would be deemed a predominantly local/regional bank.

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 CPA on Addressing Financing Needs for Atlanta Business Owners & Entrepreneurs for Decades

Helping Clients in a Down Economic Market…Procuring $100,000 line of credit for Atlanta Based Business

Despite the news of the times and the severity of the downturn in the economic market, there remains financially sound quality lenders who are seeking to extend credit to qualified business owners. As you would expect, however, banks are getting back to the basics of lending practices that ruled the decades of lending practices before the recent downturn in the economy. Rather than the “free wheeling” lending business practices of the past, banks and other traditional lenders are seeking to lend monies to well-run companies who have an idea to expand both the revenue and profit of the business.

Lenders are now more than ever looking to the Five C’s of lending:

-Credit

-Cash Flow

-Character

-Collateral

-Conditions

If you have a sound business model, a good business plan, good payment history, adequate collateral and the respect of your peers, lending sources are available and credit to extend credit to your business. However, as has been true for decades often having the attention and relationship with a good smaller bank is the best bet for entrepreneurs and business owners who have definitive financing needs. Smaller banks and lenders are often much more flexible and willing to extend credit when larger regional and national banks will not. Working with your CPA who has these contacts and is aware of economic conditions and trends in your area is essential to procuring and especially funding credit needs in tough economic times.

We have recently helped a business owner here in Atlanta area obtain and procure a $100,000 needed credit line for their business. The credit line could not have come at a better time as the economy was shrinking and it allowed the company sufficient cash flow to cash flow their business needs and allowed them sufficient time for them to package their business and to sell the business outright. It is probable that without the credit line in place that the business would have folded before the owner could “cash in” by the selling of their business to a competitor for hundreds of thousands of dollars.

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

Business Banking 101…Getting Financing For Your Atlanta Business

Getting Your Banker to Say Yes to Financing Needs

Knowing how to best package your business and to present yourself to a banker is essential to getting your bank to say yes to your financing needs. This is the third part of the series of Getting Financing For Your Business. Integral building blocks to this series can be found on this blog and are entitled and are available on this blog:

Building Your Business Credit…Getting Financing For Your Business

Top Five Criteria Banks Use to Extend Financing/Credit Lines…Getting Financing For Your Business

These are the essential components of getting a loan and this article, Business Banking 101, is the “icing on the cake.” Putting a well-organized and thought out loan package together is the last step in our series of Getting Financing For Your Business. The loan package will be the documents that the bank will use to evaluate your loan should be presented in a well organized and typed format. These documents will be first reviewed by your primary bank contact and then forwarded up the “ladder.” Thus, having the documents well presented and in order are essential to ensuring that your data is reviewed thoroughly. A poorly presented package, regardless of your other qualifications, will do much to have it quickly ignored and discarded. A well-presented package should include most or all of the following, depending upon your particular circumstances:

-Income Tax Returns. Corporate and Personal Income Tax Returns for the last three years. Corporate Tax Returns should ideally reflect a positive net worth/retained earnings and a positive and growing net income. Though banks frequently  extend credit to companies that have a negative net worth and a recurring loss on their books, it is much less likely than when a bank sees that a company is managing well their own financial results and operations. Tax returns should be prepared by a CPA who is well informed and versed in your business and all taxation issues impacting your business. Having returns prepared by anyone else is a recipe for failure in both the loan process and the legal mitigation of your annual income taxes due.

-Interim Financial Statement. Banks want to know what is currently going on in your business. Unless the year is just over (less than sixty days), then it is prudent to have a interim financial statement prepared by your CPA showing the proper classification of assets, liabilities, revenues and expenses. A banker, like all prudent investors/lenders/owners of a business should first look to see if there is a positive retained earnings and net income. Failing to have these as integral components of your internal financials will not bode well for the approval process. Frequently there can be prudent management decisions made to help ensure that financials presented put the company in the best light possible. For example, presenting your April interim financials that show a profit will be more meaningful and beneficial than presenting your March interim financials, which reflect a loss. Also providing a narrative of any significant issues, trends, concerns and operational issues is a great way to “pre-answer” any potential questions.

-Current Net Worth Statement of Owners/Guarantors. Often banks and lending institutions will want for you to have available for their review a Statement of Net Worth. Most lending institutions will have a form that you can use for this purpose and many want the information presented on their standardized forms. This form lists all of the owners/guarantors personal assets and liabilities. Being sure to list all of the information both completely and succinctly will make this easier for review. Also, being sure not to unduly inflate any values on the forms will add credibility to the package. Two of the more widely inflated values include the valuing of home furnishings and stock of a closely held corporation.

-Credit Reports. A credit report is an independent source of information that a potential lender uses to evaluate a banking credit. Although any lender is going to pull one on their own as well, you being sure that you are aware of and have adequately addressed all potential blemishes is essential. Clearing any potential problems off of your credit report prior to submitting any loan package will do much to gain favor in the review of your package. Your goal should be to ensure that a potential lender does not “discover” any nuances or missteps in your package being sure to cover all of your business strengths as well as weaknesses adequately.

-Business Plan. Especially for longer term or permanent financing, having a well-thought out and organized business plan is essential as it will “lay out” and tell the story of your business, its operations, how you plan to use the money, how profitable you anticipate the business to be in the future and most importantly to the bank, how you plan to repay them. Working with a CPA who is well versed in business plan development is essential to providing a package to a bank.

-Aging. If your business has a large amount of accounts receivable or accounts payable, it is suggest that you include in the loan package a recapped aging by customer/vendor. This will assist a potential lender in evaluating whether your billings and collections are up to data as well as highlight any potential collection issues. Also this will allow the banker to evaluate your liquidity and your ability in keeping all your company’s bills and financial obligations current and paid.

-Detail Fixed Asset Schedule. If your business has a substantial amount of their net worth invested in fixed assets.

-Substantive Corroborating Information. Every package is different and needs to be treated accordingly. For what might be desired to emphasized in one package may not even be listed in another. Being sure to list all of the important substantive issues such as upcoming events, sales, acquisitions, product line enhancements etc. would all be important and critical to share on the front end of any loan package request.

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

What Clients of John Dillard CPA Have to Say…Helping Atlanta Business Owners Obtain Financing

CPA – “Never Underestimate the Value”

Helping Atlanta Business Owners Obtain Financing. We have helped Atlanta Business Owners Obtain Financing for:

-Business Acquisitions/Sales.

-Business Lines of Credit.

-Home Equity Lines.

-Factoring.

-Obtaining of Financing Proposals.

-Negotiation of Bank Loans, Terms, Payoffs, Amortization, Calls & Covenants.

Obtaining financing is both an art and a science. Part of the process requires good record keeping, good tax advice, the right entity set-up, proper tax returns, good internal controls and much, much more. No lender wants to be subject to the whims of an business owner who is not taking care of the basics and his own shop. Care should be exercised in all levels of business management to be sure sound and proper business decisions are being reached on a daily basis along with ensuring that job costing is done on each and every invoice and that profit margins are being obtained and achieved.

Care should be further exercised that you have a good standing with your customers, the business community, employees and are a contributing member to both the social and moral fabric of your community. No banker or lender will desire to lend to someone who is not presently paying their current obligations or who are not aware of the many business and economic issues facing their company.

We are much more than a CPA firm. For a CPA who We strive to do much more than just prepare your taxes. We look to understand your business from the bottom up, by looking at all facets of your business. We come alongside you in your endeavors to succeed as an entrepreneur. Though we do not expect it, some of our clients have invited us to treasured and special family events. However our long-term goal is that you life, your business and your retirement are all better off as a result of our business relationship.

At His CPA we work to retain the best CPA’s on our staff and whose desire is to serve the Lord, by serving You, our client. Our motto of “Serving Him…by Serving You, One Tax Return at a Time” is not just a watchword but a legacy. Serving clients by the “Golden Rule” is where the “rubber meets the road.” This is just part of a series of letters where we highlight just a few of the recommendations and client letters we have received. Call us today and put our staff to work for you making sure you pay your lowest legal tax, avoid unnecessary penalties and long range planning. We look to provide CPA and Tax Return Advice you can trust. Put an award winning CPA to work for you today as past winner of the Georgia Accounting Advocate of the Year Award.

Media Magic, Inc.

4536 Barclay Drive

Atlanta, GA  30338

December 11, 1995

Dear John,

Thank you for the financial consulting that you have provided my company.  Your initial suggestions and help in obtaining a line of credit for the company will make the balancing act with cash flow much easier.  I would also like to thank you for your suggestion and referral to a paycheck company to help us off-load some of the routine business matters that takes time better spent elsewhere.

Your financial consulting was very helpful and is appreciated.

Sincerely,

Scott J. Wilson, Ph.D.

President

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

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 and Bookkeeping.

Helping Atlanta Business Owners Obtain Financing as Their CPA for Decades

CPA – “Never Underestimate the Value”

Helping Business Owners Obtain Financing is an integral component of good financial advising. Working with a CPA who has the wisdom and insight to knowing what is in your best interests when looking to obtain financing. A good CPA/financial adviser will not necessarily help you obtain your dreams, but will do much to steer you towards financial options and considerations that will be best for you and your business

 Having served Atlanta business owners as a CPA and helping them obtain financing for some thirty years we have seen some trends in the financial community come and go along with good times and in bad. However there are tried and true business issues that never go out of style. First and foremost, do not get a loan you cannot afford to pay back. Loans, should only be for a limited purpose and time frame and should not be a lifestyle or consistent financial means of running your business. Whether you need financing for business Acquisitions/Sales, Business Lines of Credit, Home Equity Lines, Factoring, Obtaining of Financing Proposals or need help you Negotiation of Bank Loans, Terms, Payoffs, Amortization, Calls & Covenants, your CPA should be your first call to ensure wise financing decisions.

Obtaining financing is both an art and a science. Part of the process requires good record keeping, good tax advice, the right entity set-up, proper tax returns, good internal controls and much, much more. No lender wants to be subject to the whims of an business owner who is not taking care of the basics and his own shop. Care should be exercised in all levels of business management to be sure sound and proper business decisions are being reached on a daily basis along with ensuring that job costing is done on each and every invoice and that profit margins are being obtained and achieved.

Care should be further exercised that you have a good standing with your customers, the business community, employees and are a contributing member to both the social and moral fabric of your community. No banker or lender will desire to lend to someone who is not presently paying their current obligations or who are not aware of the many business and economic issues facing their company.

Work with a CPA who first looks to understand your business from the bottom up, by looking at all facets of your business. A prudent CPA should alongside you in your endeavors to succeed as an entrepreneur. A good CPA’s  long-term goal is that you life, your business and your retirement are all better off as a result of their business relationship with your company..

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.

“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

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 Acquisition/Sales and Bookkeeping.