Accounting News and Notes

Duluth CPA Illustrates Tax Return Preparation 101: Ensuring You Have Adequate Documentation to Prepare Your Income Taxes 

Besides the vast technical skill and experience required a CPA needs to prepare returns ensuring that all clients pay their lowest legal possible tax, a CPA needs to be well skilled and suited in other key areas of the profession as well such as:

-Tax Planning for your Metro Atlanta Business  http://www.hiscpa.com/year-end-tax-planning.html

-Planning for Georgia Retirement  http://www.hiscpa.com/retirement-planning.html

-Preparation of Financial Statements for Georgia Business Owners  http://www.hiscpa.com/financial-statements.html

-Incorporating in Georgia/Entity Selection  http://www.hiscpa.com/article2.html

-Avoiding Unnecessary Tax Audits for Atlanta Taxpayers  http://www.hiscpa.com/working-with-the-irs.html

-Much, Much, More  http://www.hiscpa.com/articles.html  

To this end a CPA should be well-organized thereby ensuring clear concise feedback to help taxpayers ensure that they are constantly reminded of tax law and documentation requirements thereof. To this end I have provided  below a sample of such correspondence.

 Please be reminded that I still need to finish for your personal return. 

-Copies of all of your year-end mortgage statements.

-Copies of all of your year-end real estate taxes.

-A recap of all of your cash contributions listing by vendor totals and copies of all receipts over $1000.
-A recap of all of your property contributions listing by vendor totals and copies of all receipts over $1000.

-A copy of your year-end tuition fees paid detailing for whom paid.  

For  your investments you have where you forwarded K-1 that had been received, that you had personally loaned to that entity $60,000 in 2009 whereas the K-1 showed a loss of $80,000. Tax law does not allow for taxpayers to deduct more than their tax basis, which is a cumulative function of the cumulative effect of prior financial transactions. Did you loan to the entity enough in prior years to be able to claim these losses (i.e., have you funded all previous losses claimed inception to date and still have sufficient loans/tax basis from 2008 and prior tax years to cover 2009 losses)? 

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

To learn more about tax entities and the taxation thereof visit http://www.hiscpa.com/article2.html  There you will also discover a wide host of resources for Atlanta Entrepreneurs.

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!    

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.

Duluth CPA Illustrates Preparing Financial Statements for  Your Recently Incorporated S Corporation or LLC

Atlanta Bookkeeping & Accounting Services

When I am working with a client to help them understand the many business and tax nuances associated with preparing their own internal financial statements, it is the best time to help a client understand both the financial and tax impact of business decisions reached. Below is a sample of a letter that I might accordingly send a client.

In Critiquing the Internal Data You Forwarded I have the below questions/suggestions: 

-I did not see a Balance Sheet. When you forward this please be sure to forward along a reconciliation of the monies/notes payable to owners. Please be sure that your 12-31-08 Balance Sheet equals the Balance Sheet on the Business Income Tax Return. 

-I recommend all of my clients use business mileage rather than actual automobile corrections as most always results in less record keeping and typically allows a larger tax deduction. 

-Please break out your Insurance into the below categories as tax law directly affects as to how these monies are treated for tax purposes:

                           Insurance – General

                           Insurance – Medical/Dental

                           Insurance – Life Insurance

                           Insurance – Disability 

-You had several smaller accounts that I would suggest you combine into and record as Office Supplies (Advertising and Promotion and Bank Service Charges, and Ask My Accountant). General goal is to have enough accounts as required by tax law to correctly prepare return and to manage the substantive financial affairs of the business.

 -Put into the proper categories the Uncategorized Expenses and Uncategorized Income. 

-I would re-title Professional Fees to Legal & Professional fees and then put into this account CPA and Attorney Fees. Please review and advise as to what monies are presently coded to this account.

 -I understood you had not added anyone to salary yet. If to date you have paid independent contractors then I suggest you movie these monies to an account in the Cost of Goods Sold section called Independent Contractors. 

To help you with this process review our article at http://www.hiscpa.com/financial-statements.html 

Contact HIS CPA PC (A Christian 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 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!  

 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.

Duluth CPA Illustrates Addressing S Corporation Status with the IRS for a Georgia S Corporation

Determining Your Entity Type Will Affect Both Your Tax Bill and the Way You Operate

Frequently we are asked to follow-up after either a taxpayer or a prior accountant has filed a return in error to fix a prior misstatement or filing. Below is a sample letter one might use if you had inadvertently filed as a C Corporation when the business was an S Corporation and should have filed as a flow-through entity or an IRS Form 1120S:

IRS
Atlanta, GA 39901 

Dear Sir or Madam 

I am writing to follow up on your IRS Letter dated 10-10-09 (copy enclosed). Please note I have enclosed a copy of the S Corporation return, as well as the S Corporation acceptance effective 1-1-09. Please note the company was not a C Corporation for the tax year noted in the enclosed tax notice and accordingly should and should not file a Form 1120 for 2009. Accordingly the tax monies assessed in the attached notice are incorrect as the company was an S Corporation for the 2009 tax year, as further reflected on the enclosed Form 1120S. If there had been a previously filed Form 1120 for 2009 for the company, please void it as it is invalid. Please fix your records accordingly to show that the client was an S Corporation for the tax year in question. 

Accordingly please refund any monies previously paid. 

I appreciate your attention to this matter and please do not hesitate to contact me should you have any questions. 

Very Sincerely Yours, John C. Dillard, CPA, President

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. To read more visit http://www.hiscpa.com/article2.html  

Contact HIS CPA PC (A Christian 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 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!    

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.

Duluth CPA Illustrates  Preparing the S Corporation Election 

Should Your New Georgia Business be a LLC Convert to S Corporation

Let’s assume you have just gotten incorporated and you have begun your business and are well into the fiscal year. It is at that time your first meet with a CPA only to find that you failed to make a timely election to be a Georgia S Corporation by filing Form 2553: Election by a Small Business Corporation. S Elections have been for decades required to be filed within either seventy-five days of the beginning of a tax year or within 75 days of the incorporation date, if a new corporation. For example, if you are a new business and incorporate on 3-1-09 then you would have 75 days from 3-1-09 to file the S Corporation for it to be timely. Similarly, if you are a C Corporation or an LLC and wish to become an S Corporation for the 2009 tax year then you would have 75 days or until March 15, 2009 to file for a timely election. 

Just this past year the IRS has eased the rules and is now allowing Corporations who qualify under Rev. Proc 20003-43 to file the S Corporation election form along with their properly filed S Corporation return and the IRS will process the election as requested. It is this author’s opinion that the S Corporation and the attending tax issues are so important that it would be prudent to obtain the election acceptance letter from the IRS well in advance of the filing of the return. An example of a letter you might want to send along with the Election form is presented below, being sure to ensure that all of the fats are relevant and that you indeed do qualify: 

Internal Revenue Service

Ogden, UT 84201 

Filed pursuant to Rev. Proc. 2003-43

FAX 801-620-7116

Phone 800-829-4933 

Dear Sir or Madam: 

Enclosed find a Form 2553 (S Corporation election) and a power of attorney for the above referenced client. The client understands the rules of being an S Corporation should have elected to be one all along. Their original incorporator/accountant failed to file the appropriate forms correctly for them to be so and I am filing these within 18 months since the original due date of the S Corporation election and the return has not yet been filed. 

I feel the company is an ideal candidate to be an S Corporation and that they desire to become same. I feel the above is reasonable cause for failing to timely make the election and I am seeking relief for a late S Election. Accordingly, I am requesting that the company be given an S election date requested.  Accordingly, the shareholders of the company have been planning on filing their personal income tax returns reflecting the operating results/income/loss on their personal return. 

Under penalties of perjury, to the best of my knowledge and belief, the facts presented in support of this election are true, correct, and complete. 

I appreciate your attention to this matter. 

Very Sincerely Yours, John C. Dillard, CPA,  President 

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. 

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,  Forensic Accounting, Business Valuations and Bookkeeping.

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

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!    

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.

C

Duluth CPA Illustrates ritiques to Personal and Corporate Income Tax Returns for Atlanta Business Owners

When your CPA is preparing your corporate and personal income tax returns, it is at this point that a teaching CPA has the best opportunity to teach and educate clients. It is at this time when a client ask many specific questions relative to their corporate and personal income taxes, expenses, and deductions where a CPA can do much to help educate and therefore elevate a clients understanding of how potential tax deductions affect and influence their return. Having served a CPA to Atlanta business owners for decades, it has proven again and again that taking the time to teach a client will pay both short and long term benefits for both the client and the tax preparer. CPA’s who ‘hurry through” to prepare the return lose this valuable opportunity to truly server their client. Below is a sample letter that might be used.

Below are Critiques to Data For your 2009 Personal Income Tax Return: 

-It appeared that you had substantive amounts of mileage that she was not reimbursed  by your employer while you are an employee. Please advised that tax law requires that you have a by-day log to support the business miles claimed. FYI, tax law has long required taxpayers to keep a by day log to support business miles and that the IRS is intensifying their collection efforts and enforcing documentation requirements to substantiate business mileage claimed. To learn more visit http://www.hiscpa.com/autos.html 

-You did not forward your original W-2 in the package so be sure to attach it to the returns when I forward. 

-Please mail to me copies of the signed receipts for the property contributions to charity and a detailed itemization/valuation at flea market/garage sale prices. For details on documentation requirements for property contributions to charity see http://www.hiscpa.com/blog/2009/03/20/atlanta-cpa-on-understanding-tax-rules-for-property-contributions-to-charities-wwwhiscpacom/

-Please advise what you paid in advalorem/car tag taxes.  

-To ensure that you obtain all of your legal business deductions visit http://www.hiscpa.com/maximizing-deductions.html

-For the Office Equipment please let me know if you have any individual items over $1000, as these will be capitalized and depreciated for tax purposes. Please be reminded that to qualify for Section 179 Depreciation that your business has to have profits equal to at least the Section 179 Depreciation claimed. Otherwise a fixed asset should be depreciated over its useful life in accordance with tax law rules and regulations.

 -For your cash donations please give me a recap by organization being sure that you have a year-end receipt for all amounts claimed. 

-For the $3000 Office Rent/Utilities please advise how much is rent and how much is Utilities. As discussed about your prior returns, please advise what percent of your home is solely used for business use. For general advice on the home office deduction visit http://www.hiscpa.com/home-office-deduction.html

-Please be advised that as you are using car mileage that all car expenses (including gas, maintenance, insurance, and payments should be paid personally) and therefore not listed as a business deduction.

 -Please be advised that business gifts are limited to $25 per recipient per year. 

-Please advise that the $1,000 check to the IRS was for, whether an estimated tax payment for the 2009 tax year or for prior tax years.

Contact HIS CPA PC (A Christian 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 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!    

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.

Duluth CPA Illustrates Including the 100%/Civil Penalty When Addressing IRS Representation Issues & an Offer in Compromise

When you are readying yourself for IRS Representations Issues, Getting an Installment Plan Established, or when submitting an Offer in Compromise it is prudent to be aware of have already assessed to the taxpayer any and all 100%/Civil Penalties so that your Taxpayer Advocate/CPA does not have to handle critical and essential tax issues twice. Below is a sample of a letter that might be used to have the IRS assess the responsible taxpayer penalty to ensure that all monies “are on the table” and that otherwise addressable issues do not spoil an otherwise positive IRS representation experience. For example, finding there are other unpaid taxes will void an Offer in Compromise, Installment Plan and a payment strategy to address otherwise potentially solvable issue.

Internal Revenue Service

Cincinnati, OH 45999-0013                     

RE: ABC Company, Inc., FEI # 00-0000000 

Enclosures: Power of Attorney 

Dear Sir or Madam, 

I am writing you in a good faith attempt to come to terms over the above taxpayers’ present predicament with the IRS and to request that all unpaid payroll taxes of the company for all periods and years be assessed to the Mr. ______________ SS # ________________ as a Civil Penalty as they are the sole responsible party.

ASAP after these monies are assessed I plan to  submit an Offer in Compromise on their behalf.  I am willing/eager to supply you with any information that you might need in order expedite assessment of the 100% Penalty/Civil Penalty.

Also when you are assessing these monies please send to me  copies of all assessments while ensuring that we have a list of all outstanding payroll taxes for the company. 

Please cease all collection efforts while the 100% Penalty is being assessed and please do not hesitate to contact me should you have any questions. 

Sincerely, John C. Dillard, CPA, PC, Partner in Charge 

Contact HIS CPA PC (A Christian 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 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!    

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.

Duluth CPA Illustrates Tax Forms Available for Individual Taxpayers On-line 

For taxpayers who have to file old tax returns the IRS has forms available 24/7 at http://www.irs.gov/formspubs/article/0,,id=98339,00.html for the tax years 1980 to 2008. There you can find tax forms to prepare your corporate and personal income tax returns. Also many states have tax forms available for your ready use such as the Georgia Department of Revenue has available on their website at

https://etax.dor.ga.gov/inctax/individual_income_tax_forms.aspx  tax forms that individual taxpayers and use/print out when preparing past unfiled and unpaid returns. There on the site you can find returns to assist in the preparation of your returns and to get compliant with years that you have not previously filed. Below is a partial list of the personal/individual income tax returns you will find: 

Form IT-511 Individual Income Taxpayer Instructions

Form 500 Individual Income Tax Return

Form 500X Amended Individual Income Tax Return

Form 500-ES Estimated Income Tax

Form 4562 Depreciation & Amortization

Form IT-303 Extension of Time to File Individual Income Tax Returns

Form IT-553 Tentative Carry-back Adjustment

Form CD LO-14B Financial Condition for Individuals

Form RD-1061 Power of Attorney

Form RET-001 Return Request Form 

If you need IRS tax forms that those listed on their web-site, you can reach the Taxpayer Services Division at taxforms@dor.ga.gov or 404-417-2300.

Contact HIS CPA PC (A Christian 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 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!    

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.