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Post Published in September, 2009
Sep 30,2009, 9:28AM

Utilizing the Incorporation Process of Your Entrepreneurial Based Business

By John Dillard
Utilizing the Incorporation Process of Your Entrepreneurial Based Business So you have started a new business and now need tax advice to take your business to the next level and to ensure that you set up as the correct/best legal entity type for your new Georgia business. Choosing to incorporate your business as a corporation will do much to protect your personal assets from legal liability issue...
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Sep 29,2009, 10:06AM

Ensuring You Have Sufficient Documentation to Prepare Your Personal Income Tax Return

By John Dillard
Ensuring You Have Sufficient Documentation to Prepare Your Personal Income Tax Return Failing to Prepare is Preparing to Fail. When preparing your data to present to your CPA, it is one of the best times to ensure that you have all of the required documentation as well as to ensure that every legal, an no illegal, deductions are claimed. On the contact page of our web-site at http://www.hisc...
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Sep 28,2009, 8:14AM

Filing of Old/Back Tax Returns with the IRS

By John Dillard
Filing of Old/Back Tax Returns with the IRS Setting reasonable and correct expectations with both the taxpayer and the IRS are essential to successful IRS representation. Looking to the future with a firm schedule in mind is paramount in helping both taxpayers both commit to a plan and to manage expectations. Knowing how long it will take a client to pull information together and then encouraging...
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Sep 27,2009, 8:42AM

Faith in Action...Navajo Family Missions Series Day 3... Taking Christianity Into the World

By John Dillard
Faith in Action...Navajo Family Missions Series Day 3... Taking Christianity Into the World This is Day 3 of the Navajo Family Mission Series of our Weekly Family Trip To Serve the Navajo People of Pueblo Pintado. It is about sixty people who for an entire week lay down their jobs, vacations and responsibilities to be the very hands and feet of Christ. This is their story. Jesus often withdrew to...
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Sep 26,2009, 2:01PM

Telling the Truth: Don't Let Others Lead You to Sin:...Taking Christianity Into the World

By John Dillard
Telling the Truth: Don't Let Others Lead You to Sin:...Taking Christianity Into the World As Believers our first responsibility is to Jesus Christ and therefore our responsibility is to obey the Bible and its precepts. Though the world will do much to blur the lines between truth and fantasy, our calling and our obedience requires us to be not of this world but to be like him. Recently I received...
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Sep 24,2009, 8:01AM

Readying Your Business's Internal Financials Ready for an Audit, IRS Representation Issues or Submitting an IRS Offer in Compromise

By John Dillard
Readying Your Business's Internal Financials Ready for an Audit, IRS Representation Issues or Submitting an IRS Offer in Compromise Although it is tempting to address a crisis only when it arrives, it is much more prudent to be aware and ready for events before they come issues for failing to prepare, is preparing to fail. However it is often when a client has been called to task on an audit or i...
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Sep 23,2009, 5:25PM

Sunday: Honoring the Sabbath...Navajo Family Missions Series Day 2... Taking Christianity Into the World

By John Dillard
Sunday: Honoring the Sabbath...Navajo Family Missions Series Day 2... Taking Christianity Into the World "He must become greater; I must become less." John 3:30 This is Day 2 of the Navajo Family Mission Series of our Weekly Family Trip To Serve the Navajo People of Pueblo Pintado. It is about sixty people who for an entire week lay down their jobs, vacations and responsibilities to be the very ...
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Sep 23,2009, 8:07AM

Incorporating Your New Business

By John Dillard
Incorporating Your New Business Understanding the many nuances of the incorporation process if not for the meek of heart or for the unprepared. It is always prudent to first talk with a CPA in a face-to-face meeting to ensure that you pick the legal operating entity that is best for you business, its operating goals and to keep your tax bill as low as legally possible. Although your state will be...
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Sep 22,2009, 9:43AM

Walking the Walk...Navajo Family Missions Series Day 1... Taking Christianity Into the World

By John Dillard
Walking the Walk...Navajo Family Missions Series Day 1... Taking Christianity Into the World I chose to fight the good fight and to further to kingdom of God. This is Day 1 of the Navajo Family Mission Series of our Weekly Family Trip To Serve the Navajo People of Pueblo Pintado. It is about sixty people who for an entire week lay down their jobs, vacations and responsibilities to be the very ha...
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Sep 21,2009, 8:56AM

Preparing Your Internal Books for Your Entrepreneurial Business

By John Dillard
Preparing Your Internal Books for Your Entrepreneurial Business Many business owners struggle with the preparation of their own internal financial statements. It is widely believed that if a CPA can help a client keep their own internal books current and correct that a business owner will help mitigate CPA fees as well as having more reliable internal data, from which to run their business. Havin...
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Sep 20,2009, 8:59AM

Serving God... Navajo Family Missions Series Introduction...Taking Christianity Into the World

By John Dillard
 Serving God... Navajo Family Missions Series Introduction...Taking Christianity Into the World Serving the One True God in the Desert of the Navajo This is first of the Navajo Family Mission Series and the introduction to our Weekly Family Trip To Serve the Navajo People of Pueblo Pintado. It is about sixty people who for an entire week lay down their jobs, vacations and responsibilities t...
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Sep 19,2009, 4:51PM

Utilizing Financial Statements for Your Recently Incorporated S Corporation or LLC

By John Dillard
Utilizing Financial Statements for Your Recently Incorporated S Corporation or LLC 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 migh...
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Sep 17,2009, 8:37PM

Incorporating and /Flow Through Entities: S Corporations vs. LLC's...Not all Entities Are Created Equal

By John Dillard
Incorporating and /Flow Through Entities: S Corporations vs. LLC's...Not all Entities Are Created Equal For the most important tax issue you will ever make you will want to be sure to seek out wise counsel who can best guide you through which entity type will be best tax-wise for your business. Though you are not locked into any selection forever, your obstacles and nuances in changing is somethi...
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Sep 17,2009, 8:42AM

IRS Tax Representation 101

By John Dillard
IRS Tax Representation 101 Meeting all of our clients face-to-face both initially and for all strategic meetings is a critical component of a successful IRS Representation experience. Keeping our hands on the pulse of the work flow, being attentive to every important and essential detail and a keen awareness both of your facts and IRS tax law are essential to having a good IRS experience. Serving...
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Sep 16,2009, 9:42AM

Critiquing Corporate & Personal Income Tax Returns

By John Dillard
Critiquing Corporate & Personal Income Tax Returns 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 e...
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Sep 15,2009, 10:20AM

100%/Civil Penalty When Addressing IRS Representation Issues & an Offer in Compromise

By John Dillard
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 crit...
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Sep 14,2009, 12:19PM

Free Tax Information for American Business Owners & Entrepreneurs

By John Dillard
Free Tax Information for American Business Owners & Entrepreneurs 152,000 Visitors to www.HisCPA.com (A Metro Atlanta CPA Firm) in 2009 So far this year 151,778 visitors have been to www.HisCPA.com to gain needed tax advice salient to a wide variety of tax issues. These visitors have not only gained critical tax advice but have also spent a total of 632,408 minutes on www.HisCPA.com That's a...
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Sep 11,2009, 7:51AM

Tax Nuances/Deductibility of Fringe Benefits of S Corporations or LLC's That Have Elected to be Taxed as an S Corporation

By John Dillard
Tax Nuances/Deductibility of Fringe Benefits of S Corporations or LLC's That Have Elected to be Taxed as an S Corporation For S Corporations or LLC's who have been elected to be taxed as an S Corporation there are certain tax nuances for all those owners who own more than two percent of the company. Tax law has long held these rules, though their application has varied somewhat over the years: ...
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Sep 10,2009, 2:39PM

Addressing 9/11...Taking Christianity Into the World

By John Dillard
Addressing 9/11...Taking Christianity Into the World Our life is full of challenges and Facing each and every one of our 9/11's is essential to overcoming this world, being a Believer, and our Christian Walk.
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Sep 10,2009, 8:41AM

Tax Forms Available for Individual Taxpayers On-line

By John Dillard
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 Depar...
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Sep 09,2009, 8:30AM

Utilizing the First-Time Home Buyers Credit: What Would You Do With $8,000?

By John Dillard
What Would You Do With $8,000? Utilizing the First-Time Home Buyers Credit What if the government decided today that, instead of bailing out Wall Street, it was going to give every American $8,000? What would you do with the money? For most Americans, paying off credit card debt would be a great way to use the free money. According to a Nilson Report released in April 2009, the average credit ca...
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Sep 08,2009, 12:01PM

Understanding Tax Benefit of C Corporations vs. the Tax Savings Afforded by S Corporations

By John Dillard
Understanding Tax Benefit of C Corporations vs. the Tax Savings Afforded by S Corporations For the past several decades as an Atlanta CPA I have been bombarded by new business owners seeking to understand the tax benefits of a C Corporation versus the permanent income tax savings afforded an S Corporation. To this cause, I recently received this inquiry off of my website: Hello. I am researchi...
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Sep 07,2009, 5:25PM

Determining if You Should Convert Your LLC Over to a S Corporation

By John Dillard
Determining if You Should Convert Your LLC Over to a S Corporation One of our past inquiries to our web site was regarding entity selection issues and their judicious application. Below is the inquiry we received:
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Sep 04,2009, 8:51AM

Addressing Tax Assessments from Georgia/States While Addressing an IRS Audit

By John Dillard
Addressing Tax Assessments from Georgia/States While Addressing an IRS Audit When Uncle Sam Comes Knocking and the IRS is auditing your return, often the issues get even more complicated when states assess tax monies based upon the preliminary figures given to them by the Internal Revenue Service. This is especially problematic, when the IRS has initially disallowed items that the taxpayer has pr...
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Sep 02,2009, 10:12AM

Submitting an Offer in Compromise by Utilizing a Offer Cover Letter

By John Dillard
Submitting an Offer in Compromise by Utilizing a Offer Cover Letter Having served as a Gwinnett County CPA for decades, I have learned that anticipating questions before they are asked by the IRS, knowing what to expect and developing both reasonable expectations with both the Internal Revenue Service and a client are essential to successful dealings towards handling IRS tax representation issues...
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Sep 01,2009, 10:02AM

Marketing Strategies: Business 101

By John Dillard
Marketing Strategies: Business 101 Achieving Business Excellence Our faith requires us to do more than just the status quo. We are exalted as Believers to do everything as if doing it for the glory of the Lord. Excellence is not for the faint hearted nor is it for those who are just trying to get by. As Christians, we are called to do our best in all things, not just a few, but all. Our consiste...
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