Accounting News and Notes

Do You Need Help Running Your Business?…Atlanta CPA Offers Plain & Simple Business & Tax Answers for Atlanta Taxpayers for Alpharetta/Grayson

 Below is a sample inquiry I might receive from a client who is the start-up phases of their business and is looking to be well organized for both their current tax filings and for years to come and the following responses listed.

John, I signed and mailed you the forms today. I am still working hard on getting my information together. I have actually spent many hours reading articles on-line and watching videos on on-line trying to learn what I am doing so I can understand it. That is not a burden to me because I really want to understand so I can lead a business with integrity. I have also been diligent in recording everything that I am doing this year so I start out right. I did want to ask for your advice on two issues.

1) Do you think that your services are out of my league at the present time considering where I am with my business? What I mean is that I am having a difficult time figuring out how to do the things you have asked me to do, and although I would love more time with you to work through things, I can’t afford it. I feel like you offer so many services to your clients and I really am not able to take advantage of any of them at this point due to basically the present condition of my business and my lack of financial resources. I just feel like I could find someone to teach me to do the basics of Quickbooks and use you for the “bigger” issues.

 At His CPA PC we strive to do business the old fashioned way giving our clients much more than they thought they needed. In our ever changing economic times it is even more important to stay ahead of the power curve in addressing your business issues, trends, and tax planning. To that end we have dramatically improved our web-site. I believe your business is exactly where it needs to be, in the hands of one who cares about both you and your business.

2) I am concerned that I won’t have enough money to get me through tax season at this rate. After paying your latest invoice and I haven’t even filed taxes yet. With all of the issues I have to fix regarding my business, how much do you anticipate I will have to spend to make it through the near future? I know taxes have to be filed in March I guess.

Business Management and the whole of its many varied issues are a daunting issue for both the new and experienced business owner. His CPA P.C. has combined at their web site a litany of many varied issues, which has never before been available in such a succinct and well written format. I am committed to live out the “Golden Rule” in serving both others and the community. I believe what we have done to date is critical and necessary to achieve your stated goals. We have already done much to forge building blocks for your both doing your own bookkeeping, apprising you of tax law, and making entity selection issues, which should benefit you for years/decades to come.

Also, another thing that concerns me is that I don’t want you to think that I am dissatisfied with your service. I totally trust your plans for my business. I really like your style with how you do things. I agree with the path you have laid out. All of that is good. I just am simply concerned that the things you are wanting to do and that I need to do (S Corp, fixing my LLC, payroll, etc.) will be something that I know I need to do.

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 legally entitled to. I would estimated you fees to complete both your personal and your corporate return to be approximately $800 to $1100 depending on how well organized you present the data as well as the amount of assistance you might need in the interim. I believe your business is exactly where it needs to be, in the hands of one who cares about both you and your business.

OK, I hope all of this makes sense. I would appreciate any suggestions you might give. Thank you for your patience in working with me.

“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

John Dillard, CPA of His CPA, PC (An Atlanta CPA firm) 1940 Woods River Lane, Duluth, GA 30097 Phone 770-814-9304 http://www.hiscpa.com/         http://www.john-dillard.com/

 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 CPA Provides Directory of Tax Issues Facing New Georgia Business Owners

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. For decades we have focused on helping new business owners get started on “learning the ropes” of all of the tax issues facing their new business. Below is a sample letter I might use to help a business owner correct and address their legal and tax requirements, when filing old past back tax returns, to ensure that adequate books and records are maintained and that all federal and state tax laws are both understood and correctly applied:

This will confirm your advice that:

-No estimated tax payments were made for the 2006 to 2009 tax years to either IRS or GA.

-That you are aware of the need to keep a by day log to support business miles.

-That we went over the rules of being an S Corporation and that you have opted to become effective 1-1-10 and that you are aware there are potential tax savings available that you will forego as you did not agree to the 1-1-09 S Corporation effective date I suggested.

-That you are the sole owner of your LLC for the 2006 to 2009 tax years. Please forward to me a copy of where this transfer of ownership was documented/agreed.

-That you are aware of that there are issues relative to the 2004 tax year that will roll forward to future tax years.

-That you had no substantive itemized expenses for the 2005 to 2008 tax years and that you rented your residence/waived any deduction for these years.

-That you have received and reviewed in detail the year end income tax checklist that is always available on our web site at www.HisCPA.com

-That you are to file as a single taxpayer for the 2005 to 2008 tax years.

-That you should either change your web site and marketing materials to your legal name or look to legally register and trademark your DBA.

-This is to confirm that you are handling all payroll and 1099 issues, your county property tax report for your fixed assets that the business owns (if you have not been getting this report I suggest that you call them and request), sales tax reports, and your business license.

-This is to confirm that you are aware of the need to pay the annual fee with the Secretary of State’s Office to renew your corporation’s annual registration.

-Please be reminded that you are required to keep a by day log to support business miles.

-Please forward me an estimate of what you anticipate the current year’s profits to be so that I might tax plan at least twice annually and that an S Corporation for tax purposes is required to pay a fair and reasonable salary given position and profit.

-It is an honor to serve you. If you know anyone looking for a Good CPA, please let me know or feel free to refer him or her to my web site at www.hiscpa.com.

Bookkeeping for Your Atlanta Small Business
Learn the ABC’s of accounting for the business and financial operations of your business. Visit http://www.hiscpa.com/keeping-books.html

Preparing and Reviewing Financial Statements for Atlanta Business Owners
Financial results of your business are like a doctors chart of their patient, this will help enable you to understand financials and their use. See http://www.hiscpa.com/financial-statements.html

Monitoring & Preparing Your Financial For Your Atlanta Business
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. http://www.hiscpa.com/monthend.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!  

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

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

Gwinnett CPA Advises Atlanta Business Taxpayers That IRS Just Announced the 2010 Mileage Rate

The IRS Just Announced the 2010 Mileage Rate as 50 cents per mile. This is down from the 2009 mileage rate of 55 cents per mile. The predominant cause for the decrease is a direct result of declining gas prices in 2009 versus 2008. Please keep in mind that tax law requires all taxpayers who use an auto for business use to keep a by day mileage log.

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!  

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

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

Duluth Georgia CPA Addresses Setting up an Installment Plan with the IRS and Recording of 2009 Internal Data and Bookkeeping Issues  

Attached is a recent note we received from a potential client  However, extreme caution should be exercised by taxpayers to ensure that they retain the services of a CPA who is experienced with tax representation issues and matters.  

Thanks John.  I enjoyed hearing what you had to say.  I am definitely looking forward to getting some order in my business and life.  I know I am in for a tough road in the beginning because of my disobedience but I believe I can get through it by God’s grace and your help.    

I will work on getting together those things you asked me such as my latest return, my first few months of 2009 bank statements and checkbooks, and my QuickBooks downloaded to my laptop.  I will plan on giving you a call the week of November 30.   

Also, I wanted to ask you another question.  I told you I had filed my 2008 tax return but I hadn’t paid anything yet.  I filed it before the October 15th deadline this year after an extension but didn’t pay anything unfortunately.  I was going to set up a payment plan like I did the last time I owed.  They sent me a letter saying it was due Dec. 1st.  I didn’t set up a payment plan when I filed because I knew I wanted to talk to you first.  Can you guide me in this when I see you or do I need to call them and set something up before I meet with you?  Thanks,

Below is our response:

I will be happy to help. 

I suggest you call the IRS and tell them you are going to retain me and the date and request they extend your time to respond to 12-31-09 and that we work to ASAP address this return as well as your 2009 tax issues. Time is the enemy in dealing with IRS Representation issues so if you can get with me ASAP we can plan the best course of action tailored to your particular circumstance.

To learn more about IRS Representation issues see:

How Audits are Selected
Learning about how audits are selected is the first step to discovering how to overcome the emotional and financial distress that normally occurs as part of the audit process. Lifting this veil will help keep you on an even keel in learning how to deal with the IRS audit. Visit http://www.hiscpa.com/irs-selection.html

When the IRS Notice Arrives
Rather than beginning the process in fear, discover how you can better prepare yourself so that you are not surprised at the audit process and its ultimate results. By seeing through to the other side you can best ready yourself to close your audit with no adjustments and no additional monies due. See http://www.hiscpa.com/irs-audit.html

Solving Atlanta IRS Tax Issues
Don’t fight the IRS but work with them to resolve your tax problems. Discover a myriad of legal ways the IRS is eager and willing to work with you to resolve any unpaid debts, penalties, and interest. To learn more http://www.hiscpa.com/working-with-the-irs.html

Paying Your Taxes – Withholding & Extensions for Metro Atlanta Taxpayers
Paying your taxes made easy. This section will enable you to quickly grasp the general guidelines of tax law requiring that you pay taxes as you earn money. As well, extensions and their uses and limitations are disclosed and discovered. Visit http://www.hiscpa.com/paying-taxes.html

How to Avoid an IRS Audit for Atlanta Taxpayers
Discover simple steps that you can do to help prevent an IRS audit. Though the tax code is at times very difficult to understand and comply, these basic simple steps will help you avoid an IRS audit. See http://www.hiscpa.com/avoiding-audits.html

Solving IRS Tax Problems: Submitting an Georgia Offer in Compromise
When all else fails and if you qualify, the IRS and Georgia both have a program which will enable you to work to solve the severest tax problems. Visit http://www.hiscpa.com/offer-in-compromise.html

Utilizing IRS Installment Plans for Metro Atlanta Taxpayers to Pay Your Past Due Taxes
The IRS has long been in the business of helping taxpayers get back into the system to ensure that taxpayers are able to pay their taxes over time. For those who do not qualify for an Offer in Compromise or to pay the taxes and interest in full, while seeking penalty abatement, an Installment Plan is a prudent and wise choice and alternative to get your past taxes due paid and current. See http://www.hiscpa.com/installment-plans.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!  

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

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.