Atlanta CPA on How Best to  Incorporate & Filing Requirements

Incorporation: Choosing a Business Entity Type
Incorporating as a Subchapter S Corporation, C Corporation, LLC & LLP
Evaluating what type of entity your business should be, we strive to balance the legal protection issues vs. the tax savings. We have developed the mindset that there is no perfect election but there are ones that are better than others. 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. There are very specific rules, as well as some generalities. While considering incorporating in Georgia, we suggest that you sit down with a tax professional to see how these guidelines relate to you.+

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Addressing Time Critical IRS Representation Taught by Atlanta CPA

IRS Representation is perhaps the most important and sensitive of all tax functions that a CPA can provide. Recently we received the below inquiry regarding addressing time sensitive IRS/Georgia Tax Representation issues:

Couple more questions, this guy with the state seems angry and has stated that HE is the last one to be notified when drastic action is about to happen. If we acquire your services, will there be a (30) day...temporary stay on our case or will we be ""protected" a little longer??? I just don't want this guy to find out we've hired a 3rd party to help us and then he turns around and takes position of whatever he can get. Thanks for your time on this.

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Atlanta CPA Encourages Taxpayer to Do What You Can to Avoid an Audit while Keep Your Tax Bill as Low as Legally Possible  

Avoiding the most common pitfalls taxpayers make is critical to your personal financial success. Careful discernment and wise application of tax law is an essential and critical part of avoiding otherwise avoidable IRS notices, penalties, responsibilities, IRS audits and amendment of prepared returns. As a Body of Believers, we are commanded to give unto Caesar what is Caesar's. As such and based on the premise of the U.S. tax system, we as taxpayers are solely responsible for the initial filing of our returns and the fair and just filing of our lowest legal possible tax. Avoiding these top pitfalls that many fall prey to will be an integral step in the proper preparation of your return. Below is a sample letter we might forward to a taxpayer to help ensure that all income items are reported and that all legally deductible items are captured.  

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Christian Musician Sought by Atlanta CPA for Family Mission Trip to Serve Our Native the Navajo/Dine...Taking Christianity Into the World

We have so many youth on the reservation that we are not reaching and I've been in constant prayer for ways for us to connect with them and share with them. They have so few role models (especially males) and while we do a really great VBS and a really great women's bible study, we are not hitting the right spot when it comes to the teens and the teenage years are when they need it most. I am seeking a Christian Musician who loves the Lord, who wants to serve others who will be willing to offer music lessons of all types to our Navajo children.

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Atlanta CPA Teaches Keeping 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:  

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Atlanta CPA on Top 20 Things Your Accounting & Tax Software Might Not Be Able to Do

20. Be a CPA for Thirty Years, Serve on a Mission Trip & Be a Christian.
19. Be a Member of the Gwinnett Chamber Board of Directors.
18. Serve as a Chief Financial Officer/Controller/Chief Operating Officer.
17. Write and Publish Several Books.
16. Discuss Nuances of Setting up a Qualified Retirement Plan for Your Business.
15. Help Your Procure and Negotiate Financing for Your Business.
14. Assist with Taking a Court Case to the Georgia Supreme Court to Protect the Rights of Georgia Workers.
13. Discuss Business Tax Deductions Advising on Coding and Recording to Your Internal Books and Records and IRS Tax Substantiation Documentation Required.
12. Meet With You to Discus Buying or Selling a Business.
11. Assist/Provide a Valuation for Your Closely Held Family Business.
10. Pass the CPA Exam.
9. Go to College.
8. Win the Accounting Advocate of the Year Award for the State of Georgia
7. Discuss Incorporating in Georgia and Entity Selection Issues.
6. Assist You With Back Taxes, IRS Representation or an Offer in Compromise.
5.Get a Law Passed in Georgia Making it a Better Place for Georgia Children to Live.
4. Rely on Decades of Work Experience to Ensure That You Pay Only Your Lowest Legal Possible Tax.
3. Discuss Your Long Term Retirement Plan.
2. Serve as a Virtual CFO/Controller for You and Your Business.
1. Ask You How You Feel.

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Atlanta CPA Provides Tax Tips to Accounting and Bookkeeping for Entrepreneurs

This is the Latest of A Financial Survivability Series of how you can look to the future by analyzing the present to help plan both short and long term for the future. Business Owners throughout Metro Atlanta will continue to be challenged as the U.S. economy strives to unlock itself from the economic frailties which still hold it down. Struggling with a Weakening Dollar, a High Jobless Rate, Limited Demand and Purchasing Power still have to overcome to get our economic steam engine back on track.

First and foremost in keeping your company legitimate is to make sure that you keep your personal expenses separate from your business expenses. To keep and maintain a clear delineation of your company from your personal affairs you should only pay business expenses out of your business/corporate account. Accordingly you will want to ensure that you only issue monies for your personal affairs out of your business and not out of your corporate account/monies.  

Secondly it is prudent to have a sound basis and understanding of what is, and what is not tax deductible and how to properly record and account for your business expenses and revenue. Below is sample letter of one that might be used to give a client insight and guidance on their tax and bookkeeping issues. For convenience I have recapped my answers to the inquires in all capital letters:

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Atlanta CPA on Should You Incorporate Your Business and Where Do I Determine Where to Incorporate?

As a CPA in Metro Atlanta the most prevalent and important issue is getting your business started off on the right foot. Also it is prudent to check with your Business CPA to ensure that the entity selection is still the right one for your business, especially if there have been substantive changes in your business, ownership or operating locations. Below is a sample inquiry we might receive from a client seeking such investigative insight:

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Atlanta CPA Provides Sample IRS Audit Letter in Anticipation of Impending Audit Meeting 

When getting ready for an audit the first best call is to a well experienced CPA to ensure that both your rights but more importantly that you return is correct and prepared to best ensure your lowest legal possible tax. As a Body of Believers, though we are to submit to Authority, we are not required either by tax law or by our faith to pay more than our fair share and therefore just and legally liable tax obligation/bill.

All correspondence with the IRS should be an ends to an mean and help to encourage the client, the IRS and their agent to close their file as quickly as possible, while ensuring that you pay only your legally liable tax. To that end I have provided the below sample audit letter detailing what we did, the terms and even enclosing the check to pay the taxes and interest in full while asking for penalty abatement. For the easier a CPA can make it on the agent to adequately and efficiently close their file is a win for both the IRS and the client.

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For This Valentines Day...We Are Asking Who Do You Love as We Are...Taking Christianity Into the World

I believe on the the weekend that we all will be celebrating Valentines Day is perfect to celebrate the Joy of Christ in our Lives. WWJD if he was in Atlanta on Valentines Day, he would seek out and serve the Lost, the Last and the Least. For anyone who is interested...we are headed downtown on the 13th of this month to meet Pastor 7 and go under the bridges to feed the homeless men, women and children of Atlanta.

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Atlanta CPA Advises on Buying Tax Software

The Financial Survivability Series is for taxpayers who are looking to "Get More" by seeking advice that is both salient, wisdom-filled and insightful. Today's Series focuses on whether you should prepare your own tax return. I recommend that all business for profit owners seek out a business CPA who is well versed, experienced and informed in such matters.

Countdown of Top 10 Things Your Accounting & Tax Software Might Not Be Able to Do
10. Pass the CPA Exam.
9. Go to College.
8. Win An Award For Giving Back to the Community.
7. Discuss Incorporating in Georgia and Entity Selection Issues.
6. Assist You With Back Taxes, IRS Representation or an Offer in Compromise.
5.Get a Law Passed in Georgia Making it a Better Place For All to Live.
4. Rely on Decades of Work Experience to Ensure That You Pay Only Your Lowest Legal Possible Tax.
3. Help Provide You Retirement Planning Options For You and Your Business.
2. Serve as a Part-time CFO/Controller for You and Your Business.
1. Ask You How You Feel.

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Atlanta CPA on Unleashing  the Power of God in Your Life...Taking Christianity Into the World

It is often said that the last words of a man are his most important. Those are the ones that he wants you to hear the most.

When Jesus left this world just before His ascension into Heaven, he exhorted us to go into the world and tell others the Good News of Salvation and to be a witness to others. I believe there is no greater way to call on the power of an Almighty God than during your times of service to Him. I have personally watched both within my own family and in others who are changed, as God's power flows through their pores and out into the roads and byways of life to be redeemed and reformed creatures of God. Not changed as the world sees them, but changed as God sees them and uses them to reign down His power in their lives. Read more

Atlanta CPA Advises Corporate Taxpayers on Preparing Income Taxes

Having helped Atlanta Taxpayers for Over Thirty Years with their Corporate & Personal Income Tax Return, I have learned that it is important to be a "Teaching CPA." Be helping properly guide, assist and educate taxpayers I have learned that over time out tax clients become much more wise and prudent in both their financial and tax decisions. Below is a sample of a letter we might use to help a client understand the nuances of tax law, understand their personal tax situation, take every legal tax deduction and make prudent and long term financial decisions:

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Atlanta CPA on Addressing Back Taxes & Form 433A to the IRS

Below is a sample letter we might receive from a client who is considering the submission of an Offer in Compromise to address their Atlanta Back Taxes. Coordination of the filing of returns, being sure you are current on your present/this year's tax filings and payments is an essential part of the Offer and has to be done prior to an Offer of Compromise being forwarded to the IRS, as tax law requires it.

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Atlanta CPA Seeking Mission Partners Throughout the USA to Serve Our Native Americans, the Navajo on a Family Mission Trip...Taking Christianity Into the Word

First and foremost our trip is unique. We are a Family Mission trip. Last year our youngest was three years old, while our most senior was seventy years young. Regardless of your denomination, station, location and determination God has a great destiny for you and your life. God us on a Family Mission Trip to serve our Native Americans, the Navajo as we call on the power of an Almighty God to reign down power into the lives of those who serve.

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Atlanta CPA on Serving Christ in the Workplace...By Serving Others

Recently we received an inquiry off of our website seeking work here in the Atlanta area. Though I was not able to offer her employment, I believe we are all called as part of the Body of Christ to look to the needs of others and to consider themselves better than ourselves. To this end, every time I hear a request from a client I look to see what I might do to be the hands and feet of Jesus Christ. Below is their inquiry:

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 Atlanta CPA on Missions Start at Home: Our Family...Taking Christianity Into the World

I was able to enjoy the ambiance of a weekend in Athens, Georgia while my niece and her husband exchanged their wedding vows. Like all families we have had our struggles and challenges along the way, but rather than pull apart, we met from the oldest to the youngest and discussed openly the fears, the pains and the anxiety that we all faced in dealing with perhaps challenge one can face. We dealt with it in love, in honesty and most importantly spoke the truth in love. Though as parents we often struggle, we have children who excel at the mark, surpassing others when life's challenges get in their way and continue to seek excellence in all levels of their life. During the weekend there was much work to do and our kids did what they always do, excelled. Seek truth in all that you do and God will take care of the rest. Below is a note from my Brother , to whom I love and adore.
1 Timothy 6:18 [Charge them] to do good, to be rich in good works, to be liberal and generous of heart, ready to share [with others].

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Atlanta CPA on Releasing the Power of Jesus Christ Into Your Life...Taking Christianity Into the World

I appreciate all you are doing to help encourage and support those that are lost in the world. We have discovered it is when we are Serving the Lost, the Last and the Least, that we have been able to change lives of those we serve, those we serve with, and to reign down God's power into your life and the lives of others. When Jesus walked the earth, he did go to church but it is not there where He spent most of his time. We went into all parts of his world telling others the Great News and His desire to served a lost world.  

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Atlanta CPA Provides Tax Tips to Ensure That You Have Adequate Documentation to Support Your Charitable Gift Giving  

When addressing IRS representation issues and other tax matters during the performance of an audit, it is prudent to follow the lead of your CPA. Being aware of tax law and providing documentation that is accordance with IRS tax law is essential to the successful process and completion of an audit. Below is a sample of an inquiry we might receive in the performance and handling of IRS Representation issues:  

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Atlanta CPA Asks: Are You a Husband or a Mule?...Taking Christianity Into the World

Recently I let my imagination run wild and penned the below. As you read it I ask that you ask yourself several questions as I strive to constantly ask myself. Am I being the man God made me to be and is my wife proud of me. It is not easy to live in this confusing, hurried and self centered world with all of the temptations and pride that men feel, especially in light of God's command in Ephesians 5: We are to love our wife as Christ loved the church. Being a Servant Leader is not easy, but when we do things God's way our life and our wife are better off for it. In the Matchless Name of Christ!

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