Today's Christian News Online - The Christian Post
Then you will know the truth, and the truth will set you free. (JN 8:32)
Home > Blogs > HIS CPA > Archive
Post Published in August, 2009
Aug 31,2009, 8:34AM

Tips for Dealing with a Frozen or Reduced HELOC

By John Dillard
Tips for Dealing with a Frozen or Reduced HELOC One result of the credit crunch and the economic recession has been the freezing or reduction of home equity lines of credit (HELOC) by banks. A HELOC is a form of revolving credit in which the borrower's home serves as collateral. And while this is not a surprising move by banks looking to be more conservative with their lending policies during tou...
Email | Print | Share
Aug 29,2009, 8:16AM

Taking Christianity Into the World...Beginning as a CPA in Duluth and Taking God to the Ends of the Earth

By John Dillard
Taking Christianity Into the World...Beginning as a CPA in Duluth and Taking God to the Ends of the EarthGod made us to be be bold. Not bold in who we are, but bold in who He is in us. Allowing others to see Jesus in us, is the best message we can have. It is not our going to church that gets us saved, it is not our Bible reading, it is in by accepting Christ as our Savior and by acknowledging that John 14:6 is true in that Christ is "the way the truth and the light and that no one gets to the Father except through [him]."
Email | Print | Share
Aug 28,2009, 7:37AM

Checklist to Process Your Year-End Corporate and Personal Returns by Atlanta CPA

By John Dillard
Checklist to Process Your Year-End Corporate and Personal Returns by Atlanta CPA To assist clients/taxpayers with their year-end returns I provide clients with a checklist that they can use. To make this available 24 hours a day/7 days a week they are always available at http://www.hiscpa.com/newclient.html However as none of my clients are CPA's most clients need a bit of help in ensuring that t...
Email | Print | Share
Aug 27,2009, 8:19AM

Tax Tips for Homeowners

By John Dillard
Tax Tips for Homeowners Benjamin Franklin once said, "In this world nothing can be said to be certain, except death and taxes." More than 200 years later, this certainly holds true. And while being a homeowner won't add years to your life, the modern tax code has a number of benefits certain to make your tax bill lower. The following are a few ways your CPA or Tax Preparer can help you save: T...
Email | Print | Share
Aug 26,2009, 7:50AM

Characteristics of a Mature Believer & Follower of Christ...Taking Christianity Into the World

By John Dillard
Characteristics of a Mature Believer & Follower of Christ...Taking Christianity Into the World Spiritual growth is personal. It is between you and God alone. It is not for another to judge or evaluate. Whether you are a new Christian or a Believer for decades, whether you grew up on a Godly home or one full of sinfulness and pain, God is there to meet each and every one of us exactly where we...
Email | Print | Share
Aug 25,2009, 7:25AM

Advice on When the IRS/GA/State Audit Notice Arrives...Tax Audit Basics

By John Dillard
Advice on When the IRS/GA/State Audit Notice Arrives...Tax Audit Basics Perhaps the single biggest audit mistake that I have witnessed as a Duluth CPA, is the effort of a taxpayer in handling complex tax issues and the might and complexity of the IRS by themselves. It is not prudent to begin the audit process in fear, rather discover how you can better prepare yourself so that you are not surpris...
Email | Print | Share
Aug 24,2009, 8:35AM

The Entrepreneurial Process: Starting at the Top

By John Dillard
The Entrepreneurial Process: Starting at the Top Wise and Judicial Use of Tax Law Evaluating what type of entity your business should be, I strive to balance the legal protection issues vs. the tax savings. I have developed the mindset that there is no perfect election but there are ones that are better than others. The below assumptions are based upon the fact that my clients tell me that they ...
Email | Print | Share
Aug 23,2009, 11:51AM

Utilizing Like-Kind Exchanges as an Investment Vehicle

By John Dillard
Utilizing Like-Kind Exchanges as an Investment Vehicle Tax law has long allowed taxpayers to utilize Like-Kind Exchanges allow investors to buy and sell certain types of investment assets without paying capital gains taxes at the time of the sale. The amount of the tax, which would normally be due, is instead rolled over into the newly purchased property. IRS tax code/taw law contains specific ru...
Email | Print | Share
Aug 22,2009, 10:14AM

Addressing Risk in Business Valuations/Determining Your Business True Net Worth

By John Dillard
Addressing Risk in Business Valuations/Determining Your Business True Net Worth There are at least three approaches to determining the value of a company. The Company Analysis ("CA") should typically include three valuation methods: a comparable transaction analysis, an asset valuation and a discounted cash flow valuation. A single valuation method will usually provide a price that is questionabl...
Email | Print | Share
Aug 21,2009, 8:07AM

Selling Your Entrepreneurial Business While Maximizing Value

By John Dillard
Maximizing Value When Selling Your Entrepreneurial BusinessOnce an owner has decided it is time to make a change in the company's ownership, the owner usually seeks advice from financial advisors. The owner reviews the tax returns and financial statements for the past few years. Owners' thought processes lead them to set a bottom line price before seeking a valuation. After a valuation is performe...
Email | Print | Share
Aug 20,2009, 7:50AM

IRS Audits: How to use a CPA During the IRS Appeals Process

By John Dillard
IRS Audits: How to use a CPA During the IRS Appeals Process Finding an Tax Advocate/a CPA who is well versed in tax issues is your best offense to ensuring that you pay only your lowest legal possible tax. Retaining a wise CPA who has a track record of success is essential to being sure to only pay what you owe. Also, being careful not to listen to the counsel of others such as bankers, mortgage ...
Email | Print | Share
Aug 19,2009, 1:53PM

Working with the IRS to Address Civil Penalties: Trust Fund Monies

By John Dillard
Working with the IRS to Address Civil Penalties: Trust Fund Monies If your company has employees or collects sales tax, the dollars withheld from payroll and sales taxes collected are technically withheld "in trust." Accordingly they have legal exposure to both the company for payment, as well as those personally responsible parties who knew about and controlled such payments. The responsible par...
Email | Print | Share
Aug 17,2009, 7:59AM

Understanding Back Taxes, IRS Tax Liens and Assessed Income Taxes

By John Dillard
A Practical Guide to Understanding Tax Issues with the IRSKnowing and understanding the tax issues a taxpayer has with the Internal Revenue Service is the best first step to beginning to address old tax issues satisfactorily and to get back into the system. As a Body of Believers we are taught that fear is the beginning to understanding, and that understanding leads to opportunities to turn from o...
Email | Print | Share
Aug 14,2009, 8:00AM

Business Exit Strategies in a Down Economy

By John Dillard
Business Exit Strategies in a Down EconomyYou had a well-defined plan for exiting your business. You knew how, you knew when, and you knew for how much. But, if you're like most business owners, you might be wondering how changes in the economy and the business environment might affect the timing of your plans to retire or otherwise exit your business.
Email | Print | Share
Aug 13,2009, 8:32AM

Being a Follower of Jesus Christ...Taking Christianity Into the World

By John Dillard
Being a Follower of Jesus Christ...Taking Christianity Into the World If we are indeed a follower of God then we will look to honor his last words before He/Jesus Christ ascended into Heaven. Go tell the world about me. Jesus did not ask us to think about it. He did not say maybe we should do it one day. He did not suggest that it was only for the pastor, deacons or elders but it was for all Beli...
Email | Print | Share
Aug 12,2009, 8:05AM

Back Taxes 101...Helping Taxpayers File Back Tax Returns for Decades

By John Dillard
Helping Taxpayers File Back Tax Returns for Decades Back Taxes 101 When addressing old back taxes and getting old returns filed and addressed, installment plans are great options for taxpayers who are not able to either qualify to submit an Offer in Compromise or to pay the tax in full, while asking the IRS for penalty abatement. Though these are often much better financial options, as they freq...
Email | Print | Share
Aug 11,2009, 10:02AM

Identity Theft 101

By John Dillard
Protecting Yourself from Identity TheftNo one can doubt the immeasurable benefits of the information revolution. Today, thanks to e-mail and the Internet, many of us are more productive, informed and connected than ever before. Unfortunately, as a result, we are also more vulnerable. The statistics are startling. According to a 2006 survey conducted by The Better Business Bureau and Javelin Strategy and Research, nearly nine million people were victims of identity theft, costing a total of approximately $56.6 billion.
Email | Print | Share
Aug 10,2009, 8:02AM

Addressing IRS Back Taxes During IRS Tax Audits

By John Dillard
Addressing IRS Back Taxes During IRS Tax Audits Tax audits are selected based upon prescribed criteria including random selection, a statistical test (checking potential audit exposure based upon income/deductions claimed) called a Dif test, and for those industries where the IRS has determined there are potential non-compliance issues. Though your audit is more than likely a pure random selectio...
Email | Print | Share
Aug 09,2009, 11:52AM

Addressing Unpaid/Unfiled Back Taxes

By John Dillard
Addressing Unpaid/Unfiled Back Taxes For those taxpayers who have not filed their tax returns for the past several years the filing of these old back returns is often the easiest and quickest way to assess the obligations and correct the records of IRS tax assessments/calculations. In the review of past taxes that were either filed or assessed by the IRS, a CPA can learn of missed deductions and ...
Email | Print | Share
Aug 07,2009, 7:54AM

Tax Posturing When Submitting an Offer in Compromise

By John Dillard
Tax Posturing When Submitting an Offer in Compromise The rules of submitting and the processing a successful Offer in Compromise require an understanding of tax law, the Offer Process and the wisdom and discernment of motivation, tactical issues and perseverance. When working through these issue with the IRS it is best to diligently keep these ideas in front of both the client and the IRS to both...
Email | Print | Share
Aug 06,2009, 10:30AM

Processing an Offer in Compromise/Addressing Back Taxes with the IRS

By John Dillard
Time Critical: Processing an Offer in Compromise/Addressing Back Taxes with the IRS Usually one of the main issues that causes an Offer in Compromise is a taxpayer not filing and paying their taxes on a timely basis, in essence, their inability/lack of desire to address their tax obligations and filings as they become due. Thus, one of the biggest obstacles for the CPA/Tax Advocate is to help the...
Email | Print | Share
Aug 05,2009, 7:53AM

Preparing for and Surviving an IRS Audit

By John Dillard
 Preparing for and Surviving an IRS Audit Surviving a IRS Audit or one from the Department of revenue begins with receiving an audit letter. Before you do anything to respond to the notice yourself to the State of Georgia or the Internal Revenue Service be sure to retain as your Power of Attorney as Certified Public Accountant/CPA. An audit is an extremely stressful process but a CPA who is ...
Email | Print | Share
Aug 04,2009, 3:46PM

Incorporating can Help with IRS Tax Issues and Addressing an Offer in Compromise

By John Dillard
Incorporating can Help with IRS Tax Issues and Addressing an Offer in Compromise Frequently I am invited in to address a tax situation where a taxpayer has either filed their own tax returns or has a CPA who has not yet addressed all of the tax nuances associated with not using the best entity choice for their business to this end I focus on in the Initial Meeting, preparation and forwarding of P...
Email | Print | Share
Aug 03,2009, 11:47AM

Nuances of Incorporating You Ministry as an S Corporation, LLC or Non-Profit

By John Dillard
Nuances of Incorporating You Ministry as an S Corporation, LLC or Non-Profit Frequently I get called to help those setting up a new entity striving to learn whether their ministry should be a 501(c) or S Corporation. A recent statistic indicated there were approximately 640,000 of active domestic entities in Georgia and 58,000 which are foreign (incorporated in other states). Of those, 303,000 of...
Email | Print | Share
Aug 02,2009, 9:13PM

Internal Revenue Service Tax Advocate Office

By John Dillard
Internal Revenue Service Tax Advocate Office For years the IRS has had an Tax Advocate Office for taxpayers who are need a little additional help in having their answers satisfactorily addressed with the Service. Before you reach the point as an individual or corporate taxpayer you will have wanted to be sure to have retained the needs of a CPA who is well versed in taxpayer representation issues...
Email | Print | Share
TOP CATEGORIES : Home|INTL|U.S.|Church|Ministries|Missions|Education|Entertainment|Society|Life|Business|Opinion
Copyright © The Christian Post. All right reserved.About Us|Contact Us|Media Kit|Registration|Terms and Conditions|Disclaimer|Corrections