Duluth, Johns Creek CPA: Got Questions When Pulling Your Tax Information Together?
Got Questions When Pulling Your Tax Information Together? The below is a sample letter we might receive from one of our business clients pulling their tax information together to prepare their returns. It’s hard enough to know what to look for that’s why we work hard on the front end to ensure you have all of your tax information well compiled to make sure you pay only your lowest legal possible tax:
I have several forms from corporate payroll. It looks like I am missing a G-7 but I do have the 940 and 941. The payroll service filed quarterly return (tax and wage report). I received a delinquent letter so I went ahead and paid for the last 2 quarters. For the Federal Payroll tax deposit, the federal payroll tax return and Georgia payroll tax return should I have forms for those?. You mentioned sending a balance sheet, profit/loss? Is there a form to fill out for that?
I have a few thousand dollars that is owed to the business but it looks like I won’t get that. Where is that reflected? I’ll send you what the payroll service sent to me.
Below is my response:
The only form I need that is payroll related for your business is the W-2′s the company issued along with the W-3. If you do have an accounting package such as QuickBooks to recap your data please use the form that I have provided the link to below being sure to list your beginning and ending cash while ensuring that the schedule adds up.
As your business is a cash based taxpayer it does not report any billings as income until they are collected, thus any money due you at the end of the year is not reported until they are actually paid by your client.
If you are still having any trouble with the payroll service please send a letter of introduction to them of me and have them call me ASAP and I will help guide them in making any corrections. Feel free to call might you have any questions.
John Dillard, CPA of His CPA, PC, 1940 Woods River Lane, Duluth, GA 30097 Phone 770-814-9304 www.HisCPA.com A Faith Based Duluth/Atlanta CPA Firm
Duluth, Snellville, Johns Creek CPA: IRS Installment Agreement Request
IRS Representation is not for the meek or the ill-prepared. If you owe the IRS more than $10,000 be sure to consult with a CPA who is well versed in IRS Tax Representation issues. The below is a sample letter we might send to the IRS on behalf of a client who had back taxes who is now seeking to file all of those returns and to address the open monies with the IRS:
Internal Revenue Service Atlanta GA
Re: Installment Agreement Request and Form 9465
Enclosure: Power of Attorney
Dear Sir or Madam,
I am writing you in a good faith attempt to come to terms over the above taxpayers open taxes owed to the IRS. Since I have assumed the role as their financial advisor, I have consulted with them, and in good faith have pulling together the information to file all of their returns and to address the open balances owed.
I have enclosed a revised Power of Attorney and Form 9465/Installment Agreement Request to pay all over time all of the open due and payable personal income taxes of the above taxpayer.
Please accept the enclosed Form 9465/Installment Agreement Request as submitted. I have asked the taxpayer by copy of this and verbally to begin paying on this agreement even while it is being processed.
Please do not seize any of their property during this time as it will impair their ability to address their open and due taxes in full. I appreciate your attention to this matter and look forward to working with you to process their file.
Sincerely, John C. Dillard, CPA, PC, Partner in Charge
Is it time to upgrade your CPA services. Call us today to see what a Faith Based CPA Firm serving Metro Atlanta & Beyond can do for your business and tax issues.
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Joshua 24:15 But if serving the LORD seems undesirable to you, then choose for yourselves this day whom you will serve, whether the gods your ancestors served beyond the Euphrates, or the gods of the Amorites, in whose land you are living. But as for me and my household, we will serve the LORD.”
Atlanta CPA…Having Trouble Understanding the Bible?
Having Trouble Understanding the Bible? Who doesn’t? In fact there are many who have studied God’s word who still are seeking to learn yet more.
Frequently having a synopsis of a particular chapter or book will do much to added needed depth to gain both context and understanding. At http://www.christnotes.org/commentary.php?com=drby John Darby has provided a by chapter recap and synopsis of the New Testament promising great enlightenment and understanding for all.
HIS CPA – Bringing Christian Values to Accounting and Tax Preparation in Metro Atlanta
To See How His CPA became a Christian CPA Firm visit http://www.hiscpa.com/christian-CPA.html
Need Help From a CPA to Help Guide Your New Georgia Business?
His CPA PC: As a Faith Based CPA firm we know you have enough details to worry about without having to worry is your CPA guiding you in the right path. At www.HisCPA.com you will find tax and business information you can use 24/7 to help you navigate the many tax details of operating, running your own business. Be sure you work to keep your business in the black by working with a CPA who can help guide in all business management and tax issues. The below is a sample letter we might receive from a new business just relocating to Georgia seeking to ensure that all tax issues are both timely and well-explained.
Mr. Dillard, I was searching the web about asset based lending and came across your web site. I have to say that I was immediately impressed with your Christian message as a part of your corporate story. It is refreshing. I am contacting you in regards to my business initiative. I have been seeking financial support business venture.
In fact we have discussed establishing a new company in Georgia because we have identified several opportunities that will require our intensive attention. My thought is there may be the possibility that you may have knowledge of and contact with individuals seeking new opportunities or businesses who are open to expanding markets!
Below is my response:
Thanks for visiting www.HisCPA.com regarding your CPA needs. I would welcome meeting with you to discuss setting up your business as one of our exclusive clientele.
Please let me know a couple of times that work for you and we will set something up.
I will send you some a separate e-mail for your review and directions.
I look forward to meeting with you soon. FYI…I am in the office Thurs and Friday but will be out on a mission trip next week.
John Dillard, CPA of His CPA, PC, 1940 Woods River Lane, Duluth, GA 30097 Phone 770-814-9304 www.HisCPA.com A Christian CPA Firm
Atlanta CPA Asks…Is Your CPA Asking All the Right Questions?
Does your CPA Simply Take Your Data and Prepare Your Corporate Taxes?
Are Your Personal Income Taxes Being Reviewed for Accuracy?
As a Faith Based CPA we are a Christian CPA Firm. Seeking to do all that we can to help be sure that you pay only your lowest legal possible tax. The below is a sample letter we might send to a client to ensure that their corporate and personal income tax returns are being properly complied and prepared. Be sure your CPA is working hard to lower your overall tax bill as well as to plan long-term.
For the Estimated Tax Payments You Advised You Paid to the IRS and GA of $6,000 and $1,500 respectively please confirm the dates paid as well as the tax forms you used to pay them so that I might be able to record accordingly.
This is to confirm our advice that your incorporation papers are substantially complete and that you should have them completed ASAP as there were no bylaws, election of officers, election of directors or stock issued. This is to confirm you advice that for the corporate return your advised us to record the issuance of five shares at $1 each.
Getting data ready to prepare corporate income tax return and advised on ASAP getting prior corporate and personal income tax returns amended as personal expenses listed on prior filed
corporate returns and advised to have your payroll reports re-done to show a salary as all S and C Corporations are required to pay a fair and reasonable salary given position and profit.
That you set up rules and procedures to ensure that there are no personal expenses will be paid out of the business in the future.
This will confirm that we went over the rules of being an S Corporation and that IRS tax law requires all active employee owners to pay a fair and reasonable salary given position and profit.
In entering the data for your personal return I did not see any other income such as W-2, interest income, dividends, capital gains and you had some last year.
This will confirm that we went over the rules of deducting health insurance for owners (required to have W-2 at least for the amount of the health insurance premiums) and that IRS tax law requires all active employee owners to pay a fair and reasonable salary given position and profit.
This is to confirm that you are handling all payroll and 1099 issues, your county property tax report, your sales tax reports and your business license.
This is to confirm that you are aware of the need pay the annual fee with the Secretary of State’s Office to renew your LLC’s annual registration.
Please be reminded that you are required to keep a by day log to support business miles.
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
Need Help From a CPA Before Making Important Tax Elections?
Want to Know What Entity Type is Best for Your Business?
As a Faith Based CPA Firm We Look to Serve God’s People Rather Than to Hold Them Hostage.
As such we seek to give free tax guidance to taxpayers 24/7 on our web site at www.HisCPA.com
The below is a sample letter we might receive from a client who is looking to get a new business started.
Seek Today to Serve God with All Your Heart, Soul and Might.
Appreciative of your taking the time to place info on your site for people like myself to read about beginning a business and what might be needed. I’m planning to open a printing business and wanting to know the advantages/disadvantages of incorporating.
As a Body of Believers we are called to excel in all aspects of our lives we are to pursue profit maximization for our business. We are mandated as well to treat all as WWJD, “What would Jesus do” and in so doing, we are called to be the very best we can be. It is to this end and to this and only that His CPA is committed. First and foremost our goal should be to serve those we work with and our clients. However, our lives should not be transitional in nature. Although my short term goal is to save my business monies by limiting their taxes as much as possible, my relationship with my clientele is not towards a much broader long range vision in mind. For each and every client regardless of class, heritage or giftedness, my long-term vision remains the same. I strive and eagerly communicate with zeal and enthusiasm the ultimate goal I have in mind as I serve each and every client.
Our prayers and hopes should be on how well we can serve others. WWJD: What Would Jesus Do? We work with you to ensure that we both are successful. My goal is to always impart wisdom and judicious guidance to you and your business helping to enable you to better run your business and to prepare your taxes. The below is a sample letter we might send a client to ensure that your personal and corporate income tax returns are prepared and that each taxpayer pays only their lowest legal possible tax:
In reviewing the data that you forwarded I had the below critiques/thoughts
On your recap of your data please take a look at the $9K of payroll taxes as should be closer to $4K, given your gross wages.
What was the monies listed for prior year taxes. If personal those monies should be coded to shareholder distributions.
Please re-title the account shareholder equity to shareholder distributions. Keeping your internal bookkeeping and internal financial data correct is essential to obtaining useful management information from your internal Balance Sheet & Profit and Loss.
Please add the year end check book balance to the recap, while being sure that beginning cash, plus income, less expenditures equals the year end checkbook balance.
Please note I still need the church year end receipt for your tithing.
Please get to me the amount of property taxes you paid on your car.
Your year-end mortgage statement showed $1100 for real estate taxes, while your escrow analysis listed that amount twice. Please let me know the correct amount for the total real estate taxes paid on your home in 2009.
Also I suggest you use the below checklist to ensure that you have forwarded all of the required information to process your personal return.
To process your personal income tax return, please forward:
All reported income forms, i.e. Forms W-2, 1099, brokerage statements, interest, dividends, etc.
Details of all medical expenses with copies of all individual items over $1,000.
The year-end Mortgage Interest Statement from your lender along with copies of all individual items over $1,000.
Be sure to include any changes in address, dependents, filing status, or any other substantive changes from the prior year which would have impact on this year’s return.
Please forward student loan interest, child care expenses, tuition, and any other miscellaneous deductions/income.
If you are a new client to us please bring along for both corporate and personal a copy of your prior year tax returns. If a brand new corporation, please forward along a copy of your incorporation papers, Federal ID #, and your S Corporation acceptance.
If you have had any independent contractor/proprietorship income you have earned, whether you have received a Form 1099 or not, please use this form to recap all revenue and expenses.
All K-1s where you and an ownership interest including an acknowledgment if you have sufficient basis to take the losses listed.
The initial filing date for personal returns is April 15. Returns not filed by that date both the IRS and GA allow for a six month extension. Be reminded that there are no valid extensions after the October 15 final due date lapses. An extension to file is not an extension to pay and that you are required by tax law to pay applicable taxes as the monies are earned or you will be subject to additional penalties and interest. Please be reminded that the mileage rate for 2009 is 55 cents per mile. For 2010, the mileage rate is 50 cents per mile. Turn in an expense report monthly to get reimbursed for these and any other business expenses you might have paid personally. IRS tax rules require you to have a day by day log to support business miles. Extending the filing of a return does not delay the need to pay as you go as both the IRS & GA will bill you for penalties and interest if you do not pay your taxes during the tax year to which they relate.
A Christian CPA Firm: Never Underestimate the Long Term Benefits
John Dillard is an Christian Speaker/Author and a Duluth GA 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 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.
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Faith Based/Christian CPA Offers Free Tax Information for Business Owners & Entrepreneurs
By visiting www.HisCPA.com you will find a wide host of subjects (listed below) that will keep you coming back again and again. We desire to serve our fellow man and we look to provide current and up to date business and tax information that will have you coming back for more and more. Bookmarking www.HisCPA.com may be the best decision you reach all year.
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Visit www.HisCPA.com today to learn tax as well as faith based articles to encourage you in your Christian Walk.
Contact HIS CPA PC (A Christian Atlanta CPA Firm) today.
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 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 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.
HIS CPA is headed by a Certified Public Accountant with more than 30 years experience providing business accounting, tax and financial advice to small and medium size businesses.
John Dillard
HIS CPA, PC
1940 Woods River Lane
Duluth, Georgia 30097
(770) 814-9304 Contact Us
