Accounting News and Notes

Christian CPA: Get Simple Answers to Complex Tax Questions 

At His CPA PC, we are committed to upholding the law of the land and God’s law. As such we look to provide plain talk that clients can understand that looks to use tax law to the full extent possible to ensure that you pay only your lowest legal possible tax. The below is an example of an inquiry we might receive off of our web site: 

I was “googling” a Christian CPA to answer some questions and I found a link to your website.. I see that you provide services to clients in my area so maybe you can help me.

Although I have always filed my own taxes. I really do not understand taxes or tax laws and am not sure if what I am considering is even feasible. However, if it is, I would like some direction on how to get 501c3 status and I would like to know what I will need to save and such to make the upcoming months on myself or a CPA. Any advise you provide is appreciated!!  God bless! 

Below is my response: 

Thanks for visiting www.HisCPA.com  There are many reasons a taxpayer may look to incorporate their business ranging from legitimacy, liability limitation and tax mitigation. Understanding these many nuances is your best first step in ensuring that you chose an entity type is best achieving success given your business model and operations. Entity selection is determinant on many issues ranging from citizenship, number of shareholders, ease of operation, tax obligations and year-end filings and even who your shareholders will be. Though many of these issues will conflict, working with a professional who is well versed in these issues will help you make the best election available for your new Georgia Business.

The Advantages and Disadvantages of Incorporating as a Subchapter S Corporation, C Corporation, Limited Liability Company or Partnership

When looking at what type of entity your business should be, we strive to balance the legal protection issues vs. the tax savings. Over the years, we have developed the mindset that there is no perfect election but there are ones that are better than others.

The information below and the assumptions we make are based upon the fact that my clients tell me that they want to pay as few tax dollars as legally possible. Below are some very specific rules, as well as some generalities. If you are considering incorporating in Georgia, we suggest that you sit down with a tax professional to see how these guidelines relate to you.

About S Corporations

Subchapter S Corporations can have no more than one hundred shareholders and they all need to be U.S. citizens or resident aliens. This corporation type almost always has to have a calendar year as the fiscal year. S Corporation rules have been around since the 1950s and were set up to simplify the rules and regulations of being a business owner.

Liability Protection and Subchapter S Corporations

A subchapter S Corporation, like a C Corporation, affords the business owner personal liability protection from business risks. Some of the keys to maximizing that protection are to treat the corporation like one by doing all your business in the corporate name, signing all of your documents listing your corporate title, not co-mingling any personal issues/bills in the corporation, and by having your annual Board of Directors and Annual Shareholder Minutes Meeting. 

If you are looking to raise most of your revenue from sales then I would suggest you being an S Corporation. I will send you some information under a separate e-mail. When you have reviewed it please give me a call and I will be happy to discuss.

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/ To retain John Dillard CPA (An Atlanta Christian Speaker/Author) for your business group or church congregation, you can contact him today at 770.814.9304. “Dare to Attempt Something so Great for the Kingdom of God, that it is Doomed to Failure Lest God 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, 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.

 Christian CPA Presents Navajo Family Missions…Taking Christianity Into the World 

Duluth/Lawrenceville/Gwinnett/Atlanta CPA on Finding a CPA Who Works For You 

Keep Your Tax Bill As Low as Legally Possible: Only You Can Prevent Undue Tax Burdens 

If you are a new business owner/entrepreneur you will want to work with a  CPA who cares more about the world than his business.  Although attentiveness to your needs and responsiveness to you are critical to your success, our work lives are not how we are all going to be remembered.  Is your CPA regularly involved in giving back to the community, do they have an active local or overseas ministry that they actually participate in and support?  Do they help the elderly or oppressed in the community, are they involved in the local PTA are they centrally involved in striving to make this world a better place for us all?

As you make a decision for your business’s CPA, you make one not only for yourself but those who are depending on you as well.  These people include not only your family but also the family of your employees as your business and your own financial success depend on it. Below is a sample letter might we might use to keep clients aware of tax law and to ensure that their taxes are properly prepared and that their lowest legal possible tax was paid:

Tax law requires you to obey the terms and conditions of the levy regarding the withholding from your wages and remitting of monies over to the IRS.

Just following up on how we need to go forward in addressing ASAP the IRS open tax monies due for 2008 and 2009 returns. Please let me know ASAP if  you would like for me to present to the IRS as an Monthly Installment Plan to pay the IRS taxes you both owe personally. 

If at all possible, I suggest you pay all of the open personal income taxes in full along with the interest income due, while asking for penalty abatement. This option is a financially more prudent option as it will address the tax and interest in full, while stopping penalty assessment on the otherwise open monies, that will continue to be assessed under an Monthly Installment Plan. 

At the end of 2009 you advised that you had not paid any of your $1,000 of personal income taxes due on your 2008 personal return. How much of this (not counting penalties and interest) did you pay in calendar 2009 so that I can deduct in on your 2009 personal as a Schedule A/Itemized Expense on your personal income tax return.  

I would suggest having on Meals & Entertainment account as the IRS does not differentiate tax wise between out of state/town vs. in town expenditures. 

Philippians 4:13 I can do everything through him who gives me strength.

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/ To retain John Dillard CPA (An Atlanta Christian Speaker/Author) for your business group or church congregation, you can contact him today at 770.814.9304 

A Christian CPA Firm 

Never Underestimate the Long-Term Benefits 

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

Serving Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming, New York, Los Angeles, Chicago, Houston, Philadelphia, Phoenix, San Antonio, San Diego, Dallas, San Jose, Detroit, Indianapolis, Jacksonville, San Francisco, Columbus, Austin, Memphis, Baltimore, Fort Worth, Charlotte, El Paso, Milwaukee, Seattle, Boston, Denver, Louisville, Washington D.C., Nashville, Las Vegas, Portland, Oklahoma, Tucson, Albuquerque, Long Beach, Atlanta, Fresno, Sacramento, New Orleans, Cleveland, Kansas City, Mesa, Virginia, Omaha, Oakland, Miami, Tulsa, Honolulu, Minneapolis, Colorado Springs, Arlington, and Beyond.

Alpharetta CPA Encouraging Atlanta Believers to Trust in Your Future…Taking Christianity Into the World

I have learned that though the world will do what it can to beat me down, I will not be deterred nor driven away from the Holy Spirit’s prompting on my life.

Jeremiah 29:11 For I know the plans I have for you,” declares the LORD, “plans to prosper you and not to harm you, plans to give you hope and a future. 

As God continues to reveal His truth to my heart and mind. I am constantly reminded of his great desires for our lives and for us to fulfill our God given destiny. Learning new truths from scripture, I discovered God’s hand both in my life and that of others. Studying in the Old Testament in Jeremiah, we come face to face as we learn God will never forsake us or give us more than we can bear. 

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/ To retain John Dillard CPA (An Atlanta Christian Speaker/Author) for your business group or church congregation, you can contact him today at 770.814.9304 

His CPA PC…A Christian Atlanta CPA Firm: Never Underestimate the Long-Term Benefits. 

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

Atlanta CPA Takes Christianity Into the World…What Does Being a Christian CPA Mean

www.HisCPA.com

Frequently as Believers we make sharing a faith hard, while Jesus said that Christians would be known by their love. Whether you are Baptist, Episcopal, Methodist, or Presbyterian we are all united by our faith in Jesus Christ. Several years ago God laid on my hear that I should establish  a different kind of CPA firm — one that would bring the principles of Jesus Christ to the practice of Accounting.

During this time, his practice has been growing, as clients who are seeking a Christian accountant who believes in Christ’s principles take advantage of His CPA for their business accounting, personal financial planning, and tax preparation needs. My CPA practice is how I provide for my family. But our speaking engagements, our books, our mission work and our involvement in the pastoral relations committee is what we are. We are a part of the Body of Christ, made for a specific purpose and destined to be with Him forever.

Below is my testimony on how he was led to create a Christian CPA practice to serve business owners throughout Metro Atlanta, America and the World.

Managing my own successful CPA practice in Gwinnett County for over twenty years, I continue to feel God’s calling on my heart and his desire for me to be more about Him. I have always felt it was my mission to witness to those I came in contact with in both my business and social contacts, but God continued to lay it on my heart that He wanted much more.

Even though  I was willing to share my Christian faith with people to whom I came in contact with, God was calling and he wanted me to be much more overt, but loving, to share the love of God. Having practiced the Golden Rule in my CPA firm for years, God was calling to be the true center of my life and not just a major player.

With my new bride now of six years, we set out on a journey that has led us on mission trips, publishing books, changing Georgia law, and starting a new accounting firm, HIS CPA, P.C.

Though we wanted to start the company at the beginning of the year God made it necessary to start the firm immediately as He wanted it done then and not later. To this end we have been faithful and continue to spread the Good News of our faith and Christianity to anyone who would like to hear.

Our faith and our lives intersect. Though we still have much to learn to grow to be like Him, we have studied his word and continue to work in Bible studies to share his love with others. My CPA firm is committed to the One who made me and we act on this daily by “Serving HIM by serving You…one tax return at a time”.

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 Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming. Serving New York, Los Angeles, Chicago, Houston, Philadelphia, Phoenix, San Antonio, San Diego, Dallas, San Jose, Detroit, Indianapolis, Jacksonville, San Francisco, Columbus, Austin, Memphis, Baltimore, Fort Worth, Charlotte, El Paso, Milwaukee, Seattle, Boston, Denver, Louisville, Washington D.C., Nashville, Las Vegas, Portland, Oklahoma, Tucson, Albuquerque, Long Beach, Atlanta, Fresno, Sacramento, New Orleans, Cleveland, Kansas City, Mesa, Virginia, Omaha, Oakland, Miami, Tulsa, Honolulu, Minneapolis, Colorado Springs, Arlington, and Beyond.

Duluth CPA on Taking Christianity Into the World 

In my night job I am a warrior for the Kingdom of God. 

During the day I am a mild mannered CPA. 

The Apostle Paul tells us to be bold in our faith. Though I strive to practice excellence in all things, as we are to do all things to the Glory of God. In it is my Walk With Christ, that I look to grow to be more like Jesus by conforming more to His image than that of the World. 

Listen to God and He will direct your steps both through life’s trials and as you strive to serve Him by your acts of love and mercy for others. Though we are fortunately Saved by Grace alone, it is in this Awe Inspiring Love that our Cup Runs Over by Serving Others and thereby Taking Christianity Into the World. 

Lean not on your own understanding but on that of our Heavenly Father as He directs your steps guiding you to Divine Appointments as your fulfill His Destiny for your life. 

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

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)