Post Published in November, 2009

Nov 20,2009, 8:45AM

Should Your Incorporate Your New Business or Convert Your LLC to an S Corporation for tax purposes

Should Your Incorporate Your New Business or Convert Your LLC to an S Corporation for tax purposes Recently I received an inquiry from my website which is listed below: I found your website...love the Christian approach. I'm in need of a Profit and Loss statement from a CPA quickly for a loan modification I've applied for. I am a Realtor...and have some minor expenses from my commission checks. ...

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Nov 19,2009, 6:21PM

Utilization of Promissory Notes to Protect Your Georgia Based Business

By John Dillard

Utilization of Promissory Notes to Protect Your Georgia Based Business & BeyondRecently I received the below inquiry seeking advice on setting up a Promissory Note:Is there a "normal or required" period that a Loan To Shareholder needs to be repaid? The below is my response:The "normal amount" would be what a bank would routinely do as a practical matter of doing business. With al...

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Nov 19,2009, 8:26AM

Setting up an Installment Plan with the IRS and Recording of 2009 Internal Data and Bookkeeping Issues

By John Dillard

Setting up an Installment Plan with the IRS and Recording of 2009 Internal Data and Bookkeeping Issues Attached is a recent note we received from a potential client However, extreme caution should be exercised by taxpayers to ensure that they retain the services of a CPA who is experienced with tax representation issues and matters. Thanks John. I enjoyed hearing what you had to say. I am def...

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Nov 18,2009, 8:36AM

Gwinnett Christian Business Men's Group

By John Dillard

Gwinnett Christian Business Men's Group Our Christian Business Men's Group will not meet the week of Thanksgiving. I pray that during the rush of the holidays that God finds you still and that you let He, His heart, and His Passion for your Life be revealed.It is in living in obedience to God that we can best find His will for our lives and Our Destiny.Our group will continue meeting weekly the T...

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Nov 17,2009, 10:13AM

Metro Atlanta CPA Advises on Taking Your Christian Business Into the World: WWJD

By John Dillard

Metro Atlanta CPA Advises on Taking Your Christian Business Into the World: WWJD "But his delight is in the law of the LORD, and on his law he meditates day and night." Psalm 1:2 Below is a recent inquiry I received off of our web site. I share it to encourage you to take Jesus along with your to work and indeed everywhere you go. I came across your website a couple of months ago. As a Christ...

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Nov 16,2009, 8:36AM

Converting Your C Corporation or LLC to an S Corporation for Tax Purposes

By John Dillard

Converting Your C Corporation or LLC to an S Corporation for Tax PurposesWith changes over the last ten plus years in state law, more and more Georgia based businesses are incorporating as an LLC because of the ease of the initial set up of the business entity. However, frequently this may not be the best "tax choice" for the business as an LLC pays FICA and Medicaid taxes on all of its net e...

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Nov 14,2009, 12:21PM

Using Life Insurance with Estate Planning

By John Dillard

Using Life Insurance with Estate Planning Even with reduced estate tax rates and higher exclusion levels, Americans could still be on the hook for billions of dollars in estate taxes over the coming years. More than half a million estate tax returns were projected to be filed with the IRS in calendar years 2004 to 2010.1 Fortunately, there are strategies to help protect t...

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Nov 13,2009, 1:59PM

Determining if You Should Start Your Own New Business

By John Dillard

Determining if You Should Start Your Own New Business For many who are out of work and have been unemployed for some time, it make be the ideal time to start a new business as your opportunity costs of pursuing other ventures is small to non-existent as you have no present income to lose. Many who desire to start a new business have to think long and hard about forgoing their job and quitting the...

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Nov 12,2009, 9:21PM

Feeding the Homeless on Thanksgiving Day 2009...Taking Christianity Into the World

By John Dillard

Feeding the Homeless on Thanksgiving Day 2009...Taking Christianity Into the WorldMy wife and I were blessed to be able to serve at 7 Bridges to Recovery where we met Pastor 7 and his men! This Thanksgiving in 2009, we will be serving the homeless men and women of Atlanta as we bring a Thanksgiving feast and God's word to many people living under the bridges of the streets of Atlanta and some canned goods to the shelter. We will also be collecting jackets and sleeping bags to help keep those who cannot do for themselves warm this upcoming winter.

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Nov 12,2009, 8:22AM

Penalty and Tax Assessment Relief Taught by Metro Atlanta CPA

By John Dillard

Penalty and Tax Assessment Relief Taught by Metro Atlanta CPASeveral weeks ago we were approached by a taxpayer for those the IRS had assessed almost $40,000 and over seven years of un-filed back tax returns to file and pay. Within approximately twenty days we were able to get the Levy on the taxpayers wages stopped, the IRS tax assessment voided and the taxpayer back in the good graces of the IRS...

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Nov 11,2009, 9:51AM

Here am I. Send Me: Serving the Homeless of Atlanta This Thanksgiving...Taking Christianity Into the World

By John Dillard

Here am I. Send Me: Serving the Homeless of Atlanta This Thanksgiving...Taking Christianity Into the World Then I heard the voice of the Lord saying, "Whom shall I send? And who will go for us?" And I said, "Here am I. Send me!" Isaiah 6:8 Each year my Lord and Savior calls me deeper into His embrace and it is at this point I find myself asking you, "what will you do this Holiday Season to serve...

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Nov 10,2009, 10:02AM

Advice on Investments and Christian Money Management Taught by Metro Atlanta CPA

By John Dillard

Advice on Investments and Christian Money Management Taught by Metro Atlanta CPA I recently received an inquiry from a client regarding their capital losses and their investment decisions and it is listed below: John, I need to know how much I have in carryover losses to apply to this year's capital gains. I'm trying to decide if I need to sell off some of the gains I have this year to offset so...

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Nov 09,2009, 9:37AM

Who Are You Serving This Thanksgiving?

By John Dillard

Who Are You Serving This Thanksgiving? Holiday Service Opportunity: Feeding the Homeless in Atlanta...Taking Christianity Into the World My wife and I were blessed to be able to serve at 7 Bridges to Recovery where we met Pastor 7 and his men! This Thanksgiving in 2009, we will be serving the homeless men and women of Atlanta as we bring a Thanksgiving feast and God's word to many people living ...

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Nov 08,2009, 9:35AM

Missions Lite: 2/3 Less Time Consuming than Regular Missions...Taking Christianity Into the World

By John Dillard

Missions Lite: 2/3 Less Time Consuming than Regular Missions...Taking Christianity Into the WorldI feel God asking me to discover if there are those about us who might be willing to start a new mission series I am calling Missions Lite. The work may not be lite but the time and financial commitments will. Rather than a week trip, Mission Lite will be for over weekends and will be within driving distance of Sugarloaf United Methodist Church. The added advantage of Missions Lite is in their shorter distance and time period that the costs will be much less than a week's trip.

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Nov 07,2009, 8:32AM

Bookkeeping to Business Owners & Financial Statement Preparation as Taught by Duluth CPA

By John Dillard

Bookkeeping to Business Owners & Financial Statement PreparationEntrepreneurs either initially or over time become extremely proficient in their field of choice for it is by this growth of knowledge and wisdom which affords them the insight to make prudent decisions. Having served as a CPA in Gwinnett for decades I have learned that having a well organized set of books is the first step in pre...

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Nov 05,2009, 4:55PM

Safe For The Whole Family:...Missions Lite...Taking Christianity Into the World

By John Dillard

Safe For The Whole Family...Missions Lite...Taking Christianity Into the WorldWhat is missing in most churches throughout America is the opportunities to serve God together. For it is in our joint service and in our leading by example that our children can best get a glimpse of what Heaven and Jesus are truly all about. Though we want to take our children to church to learn about the Redeeming Pow...

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Nov 05,2009, 9:12AM

Atlanta CPA on Utilizing the Incorporation Process for Your New Business

By John Dillard

Utilizing the Incorporation Process for Your New Business by Atlanta CPA 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 business. Choosing to incorporate your business as a corporation will do much to protect your personal assets from legal liability issues while po...

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Nov 04,2009, 8:04AM

News for America's Business Owners: Understanding a LLC, LLP and Partnership When Newly Incorporating

By John Dillard

News for America's Business Owners: Understanding a LLC, LLP and Partnership When Newly Incorporating Having served as a CPA in Metro Atlanta for decades I frequently have the opportunity to sit down with a new business owner who had been blessed to be fairly profitable in a very short amount of time. However, for convenience when the business was originally incorporated they did not take the time to sit down with a Certified Public Accountant to discuss the tax nuances of different entity structures. Understanding these differences is essential to wise and prudent entity and tax choices.

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Nov 03,2009, 2:19PM

Atlanta CPA Advises if Your New LLC Should Convert to an S Corporation for Tax Return Preparation Purposes

By John Dillard

Should You Convert Your New LLC to an S Corporation for Tax Return Preparation Purposes Provided by Atlanta CPAAs a CPA in Metro Atlanta for twenty eight plus years, we frequently help business owners each and every year convert their business over to an S Corporation for tax purposes. For the first two decades of my practice, this was predominantly limited to C Corporations converting to an S Cor...

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Nov 03,2009, 9:01AM

Million Dollar Video...Navajo Family Indian Missions Shared by Duluth CPA

By John Dillard

Navajo Family Indian Missions Video...Taking Christianity Into the WorldIf you believe a picture is worth a thousand words then perhaps this is a Million Dollar Video. I invite you to see what God is doing with Navajo Family Missions as we Take Christianity Into the World.I entreat you to pray before you watch, that you watch with a open heart, and then that you listen to the Lion of Judah, Our Go...

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Nov 02,2009, 11:16AM

Gwinnett CPA Advises on Improving Operational Efficiency

By John Dillard

Improving Operational Efficiency Atlanta CPA Teaches Business Clients Tax Law While Focusing on Operating Results When a CPA does a tax return they are best suited to give useful financial advice that an owner can use to turn information into profits. Just as a doctor will give invaluable insight to their patient, a CPA should be a clients closest financial confidant. Below is a sample letter th...

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Nov 01,2009, 9:23PM

Changing People Through the Redeeming Power of Christ...Taking Christianity Into the World

By John Dillard

Changing People Through the Redeeming Power of Christ...Taking Christianity Into the WorldWhen God allowed us the privilege the serving the Navajo people we immediately began to see what we might do to not only have a great week but to both change the community that we serve as well as the people who travel with us. I have watched God change people again and again as people serve the Kingdom by being the Hands and Feet of Jesus Christ.

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About this blog

John Dillard, an author and Certified Public Accountant, serves HIM by serving you with his expertise in this blog... one tax return at a time!