Posts Tagged ‘Atlanta Tax Problems’

Tax Payments to the IRS: How To, When To & What To

Since World War II, the IRS has been a pay as you go system. Prior to that time, the IRS simply collected their monies at the end of the year when one's annual tax return was filed. Pay as you go withholding was started in an effort to help fund the war effort. It was the stated intention at that time that after the war was over, the pay as you go portion of the tax code would be repealed and tax collection would revert to the pre-war system. How...

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Three Steps to a Successful IRS Audit/Representation Experience

When going to war, a soldier will plan, plan and plan again being sure that their tactics, protocols and training are ready for the task at hand. Though at times ones equipment and abilities will be tasked to the very edge of their capacities, the goal of a good soldier is to the extent possible to accomplish the task at hand while avoiding as few casualties as possible, preferably none. Similarly a great general who has a lay of the land, an und...

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Duluth/Norcross/Johns Creek CPA: Tax Tips to Have a Successful IRS Audit Experience

These basic 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 expense...

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Tax Issues Facing Atlanta Taxpayers When Preparing for Their Income Taxes

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

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Utilizing S Corporation Profits/Losses

I do not believe in scare tactics in helping clients see the truth it is often the only way to help someone make a wise a prudent decisions. My goal is not to be THE CPA for all of Atlanta but just the share that God allows me to have. Recently I was able to work with a new client to whom the prior accountant had made several tax elections that in hind sight cannot be reversed resulting in the taxpayer substantially overpaying their taxes. I am c...

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Have you gotten behind on your taxes?

Are you a new business owner and don't know where to turn next? Have you gotten behind on your taxes? Are you wanting to get all of your back taxes and returns filed and paid ASAP? One of the statutory requirements of submitting an Offer in Compromise with both the IRS and the state of Georgia is that all of your tax filings and payments must be current before submitting an Offer. During the Offer Process we constantly work with taxpayer...

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Final Deadline for Personal Income Tax Returns is October 15th

Another year is getting closer to the end and Christmas is rapidly approaching. Although the original due date for Personal income tax returns is April 15th, a properly filed extension allows a individual taxpayer to file their return by October 15th. The IRS and the state of GA allows individual taxpayers to file for an automatic six-month extension, Form 4868. Keep in mind that an extension to file is not an extension to pay and that both th...

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What to Do When You Get an IRS Audit

Let's face it when the IRS notice first arrives we all have the same initial reactions. Ouch! Yuk! Why me? There is good news out there but only if you know how the process works and understand its attendant nuances. The largest majority of all audits for truthful taxpayers is pure random selection. It is not based upon whether you file your return early or late, whether you file an extension or not, or even if you electronically file or by paper...

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Is the IRS Knocking at Your Door?

Do you remember the old car commercials of years back, when the auto mechanic would say "you can pay me a little bit now or more later". Though the commercial ran decades ago, I have never forgotten the axiom. Similarly, I believe the medical community as well as Benjamin Franklin who teaches us that "an ounce of prevention is worth a pound of cure". This is perhaps no truer than in the case of being sure that you both timely file and pay your in...

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Dealing with the IRS

Straight Dealings with the IRS is Your Best Opportunity to Audit Success to Achieving a Successful IRS Representation Experience Working with the IRS in an honest open and straightforward basis is your best bet to ensure that your audit experience, to the extent that it can be, is an success. Frequently I see clients who are audited because they have a business and attempt to prepare their returns on their own. Tax law should never be attempte...

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