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

By John Dillard
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. ...
Nov 20,2009, 8:45AM | Email | Print | Share

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...
Nov 19,2009, 6:21PM | Email | Print | Share

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...
Nov 19,2009, 8:26AM | Email | Print | Share

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...
Nov 18,2009, 8:36AM | Email | Print | Share

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...
Nov 17,2009, 10:13AM | Email | Print | Share

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...
Nov 16,2009, 8:36AM | Email | Print | Share

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...
Nov 14,2009, 12:21PM | Email | Print | Share

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...
Nov 13,2009, 1:59PM | 1 comments | Email | Print | Share

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.
Nov 12,2009, 9:21PM | Email | Print | Share

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...
Nov 12,2009, 8:22AM | Email | Print | Share

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...
Nov 11,2009, 9:51AM | Email | Print | Share

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...
Nov 10,2009, 10:02AM | Email | Print | Share

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 ...
Nov 09,2009, 9:37AM | Email | Print | Share

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.
Nov 08,2009, 9:35AM | Email | Print | Share

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...
Nov 07,2009, 8:32AM | Email | Print | Share

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...
Nov 05,2009, 4:55PM | Email | Print | Share

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...
Nov 05,2009, 9:12AM | Email | Print | Share

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.  
Nov 04,2009, 8:04AM | Email | Print | Share

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...
Nov 03,2009, 2:19PM | Email | Print | Share

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...
Nov 03,2009, 9:01AM | Email | Print | Share

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...
Nov 02,2009, 11:16AM | Email | Print | Share

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.
Nov 01,2009, 9:23PM | Email | Print | Share

2009 Year End Tax Planning as Taught By Metro Atlanta CPA

By John Dillard
2009 Year End Tax Planning as Taught By Gwinnett CPA It is that time of year again when we need to take a look at your financials to do some tax planning for the year. I have recapped below a list of the items we will need in order to properly evaluate and plan for your year-end taxes as well as address any yearend tax planning ideas. As the end of calendar year 2009 approaches, it's time to thi...
Oct 28,2009, 8:42AM | Email | Print | Share

Atlanta CPA Teaches on How to Determe Where to Incorporate

By John Dillard
Determining Where to Incorporate Recently I received an inquiry about entity choice for an individual who was not a U.S. Citizen and was considering their varying options of what state would be best for them to incorporate. Careful consideration of your incorporation options will do much to eliminate unnecessary state filing fees, state returns, notices, and annual filing fees. Below is the inqui...
Oct 27,2009, 1:50PM | Email | Print | Share

Metro Atlanta CPA Advises on Bookkeeping for Business Owners

By John Dillard
Bookkeeping for Business Owners Having served as a CPA in the Metro Atlanta area for almost thirty years, the failure of a business owner to keep adequate books and records is perhaps the most common and perilous of all small business failings. Whether your business is a million dollars in revenue or a start-up venture in your basement, learning to read your business's vital statistics is critic...
Oct 27,2009, 7:32AM | Email | Print | Share

Taking Christ with Us...Navajo Family Missions Series Day 8... Taking Christianity Into the World

By John Dillard
Taking Christ with Us...Navajo Family Missions Series Day 8... Taking Christianity Into the World This is Day 8 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 withd...
Oct 26,2009, 12:43PM | Email | Print | Share

The Audit Process: Sending Only Important & Requested Information Communicated to Your IRS Agent

By John Dillard
The Audit Process: Sending Only Important & Requested Information Communicated to Your IRS Agent Frequently during the process of an audit taxpayers are desirous of telling their IRS auditors everything. Though a taxpayer will want to tell the IRS the whole truth and nothing but the truth, often times a taxpayer will share information that is not germane to the completion of the audit and the...
Oct 23,2009, 9:58AM | Email | Print | Share

Sharing Your Faith...Taking Christianity Into the World

By John Dillard
Sharing Your Faith...Taking Christianity Into the World In my night job I am a warrior for the Kingdom of God.During the day I am a mild mannered CPA. The Apostle Paul tells us to be bold in our faith. Though I strive to practice excellence in all things, as we are to do all things to the Glory of God. In it is my Walk With Christ, that I look to grow to be more like Jesus by conforming more to ...
Oct 22,2009, 4:27PM | Email | Print | Share

Navajo Missions: Franchising Opportunities Throughout the Reservation...Taking Christianity Into the World

By John Dillard
Navajo Missions: Franchising Opportunities Throughout the Reservation...Taking Christianity Into the World What God has put on my heart through my business background is that we have created and are still tweaking ( I think adding the possibility of a week of youth "camp" is a great idea) an excellent template for not only a family mission trip to the Navajo but a family mission trip in general. ...
Oct 21,2009, 5:11PM | Email | Print | Share

God-like Service & Impassioned Living...Navajo Family Missions Series Day 7... Taking Christianity Into the World

By John Dillard
God-like Service & Impassioned Living...Navajo Family Missions Series Day 7... Taking Christianity Into the World "I am not saying this because I am in need, for I have learned to be content whatever the circumstances. I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hung...
Oct 21,2009, 6:58AM | Email | Print | Share

IRS Representation Issues and Offer in Compromise

By John Dillard
IRS Representation Issues and Offer in Compromise One of the most difficult parts of the IRS Representation process is ensuring that all parties involved are openly and frequently communicating to ensure that no enforced collections efforts such as a garnishment or levy occurs when an Offer in Compromise is being considered or a Form Installment Agreement signed and agreed to. Below is a sample l...
Oct 20,2009, 10:55AM | Email | Print | Share

Addressing IRS Notices

By John Dillard
Addressing IRS Notices Below is a sample of a notice I might receive from a taxpayer regarding their receipt of an IRS Tax notice detailing their concerns and questions. Addressing IRS notices and payroll tax issues are the bane for many taxpayers and the hiring of a competent payroll service is your best bet to ensure that you can work on your business rather than getting mired down in burdensom...
Oct 19,2009, 7:53AM | Email | Print | Share

Funding College Education Expenses

By John Dillard
Funding College Education Expenses In the United States, attending college has shifted from a privilege for a relative few to an expected rite of passage to adulthood. An estimated 17.6 million U.S. students will attend college during the 2006-2007 school year. That's more than a 40 percent increase compared with 25 years ago.So it follows that paying for a college education has become one of tho...
Oct 18,2009, 7:54AM | Email | Print | Share

Missions: Putting Your Whole Heart In...Taking Christianity Into the World

By John Dillard
Missions: Putting Your Whole Heart In...Taking Christianity Into the World As Believers we are called to practice excellence in all that we do from the most menial task to the most challenging. Also the Bible exhorts us to do our very best as we are told, "he who can be trusted with little, can be trusted with much." When I do life, I strive to be present in all conversations and to let God lead ...
Oct 17,2009, 7:58AM | Email | Print | Share

Checklist to Prepare Your Personal Income Tax Return

By John Dillard
Checklist to Prepare Your Personal Income Tax Return Tax deadlines frequently cause people to panic and to make decisions too quickly. Though the October 15th filing deadline for Personal Income Tax Returns is here, it is wise not to rush and to be sure that you make financial and tax decisions that are valid. Also during the tax preparation process it is the best time to help educate clients on ...
Oct 16,2009, 7:42AM | Email | Print | Share

2009 Personal Income Tax Returns are Due Today

By John Dillard
2009 Personal Income Tax Returns are Due Today Another year is getting closer to the end and Christmas is rapidly approaching. Although the original due date for Personal income tax returns is April 15th, a properly filed extension allows a corporate taxpayer to file their return by October 15, 2009. The IRS allows taxpayers to file for an automatic six-month extension, Form 4868. Keep in mind th...
Oct 15,2009, 3:26PM | Email | Print | Share

The Great Commission...Taking Christianity Into the World

By John Dillard
The Great Commission...Taking Christianity Into the World I have a favor to ask and hope you will prayerfully consider it. As you know, planning for the Pueblo Pintado mission trip to serve our Native Americans, the Navajo, begins the day we arrive back home from being there and it's time to start some serious planning. There has been a lot of talk about doing two weeks this year and a lot of ide...
Oct 15,2009, 7:23AM | Email | Print | Share

Procrastination: Your Costly Foe

By John Dillard
Procrastination: Your Costly Foe Getting people to make a decision is the number-one problem financial professionals face when working with their clients, according to a recent poll.1 Of the three main barriers that most people face when trying to reach their financial goals - taxes, inflation, and procrastination - the first two are practically guaranteed to occur, but the latter has the potenti...
Oct 14,2009, 8:07AM | Email | Print | Share

Fulfilling the Great Commission...Taking Christianity Into the World

By John Dillard
Fulfilling the Great Commission...Taking Christianity Into the World I have a favor to ask and hope you will prayerfully consider it. As you know, planning for the Pueblo Pintado mission trip to serve our Native Americans, the Navajo, begins the day we arrive back home from being there and it's time to start some serious planning. There has been a lot of talk about doing two weeks this year and a...
Oct 13,2009, 7:58AM | Email | Print | Share

Don't Miss Tax Deductions

By John Dillard
Don't Miss Tax Deductions Leaving no stone unturned should be your goal when preparing your year-end income taxes for both your business and yourself personally, with thoroughness being the best way to ensure that your returns are correctly prepared. Below is a sampling of such a critique to ensure that you have all of the legal tax deductions allowed and to also ensure that you report all of your taxable income:
Oct 12,2009, 8:22AM | Email | Print | Share

Serving Globally: Walking the Walk...Navajo Family Missions Series Day 6... Taking Christianity Into the World

By John Dillard
Serving Globally: Walking the Walk...Navajo Family Missions Series Day 6... Taking Christianity Into the World This is Day 6 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. Je...
Oct 11,2009, 8:35PM | Email | Print | Share

Keeping Your Tax Filings and Payments Current for All Tax Years for Both Your Business and You Personally

By John Dillard
Keeping Your Tax Filings and Payments Current for All Tax Years for Both Your Business and You Personally One of the statutory requirements of submitting an Offer in Compromise with both the IRS and the state is that all of your tax filings and payments must be current before submitting an Offer. During the Offer Process we constantly work with taxpayers to ensure that they are fully aware of all ...
Oct 09,2009, 7:51AM | Email | Print | Share

Readying Yourself for Retirement

By John Dillard
Readying Yourself for Retirement In a recent survey, 60 percent of workers aged 55 and older gave an incorrect answer when asked the age at which they will become eligible for full Social Security benefits.¹ Not only is it important for you to know when you become eligible, it's also important to understand the implications of taking benefits early, at full retirement age, or later. Unde...
Oct 08,2009, 3:37PM | Email | Print | Share

Serving God by Making Disciples...Navajo Family Missions Series Day 5... Taking Christianity Into the World

By John Dillard
Serving God by Making Disciples...Navajo Family Missions Series Day 5... Taking Christianity Into the World This is Day 5 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 o...
Oct 08,2009, 7:46AM | Email | Print | Share

Learn, Lead & Serve...Taking Christianity Into the World

By John Dillard
Learn, Lead & Serve...Taking Christianity Into the World Where is Jesus Leading You to Serve...Taking Christianity Into the World Christian Author John Dillard CPA is set to Speak at several Upcoming Kiwanis Meetings in Gwinnett. Kiwanis was originally founded in 1915 as a business networking involved but has evolved as an international organization serving the needs of the poor. Kiwanis, mu...
Oct 07,2009, 8:03AM | Email | Print | Share

Tax Planning 101: Utilizing Tax Information To Understand Changes in Your Tax Situation

By John Dillard
Tax Planning 101: Utilizing Tax Information To Understand Changes in Your Tax Situation Understanding nuances of your own personal tax information will do much to help you both communicate with your CPA as well as to plan for your current tax bill and well into retirement. As such a CPA will work with a client to help understand and apply the many tax variances that might consist on a return to b...
Oct 06,2009, 9:59AM | Email | Print | Share

Seeking Revival for Christianity...Navajo Family Missions Series Day 4... Taking Christianity Into the World

By John Dillard
Bearing Fruit: Taking Revival Into the World...Navajo Family Missions Series Day 4... Taking Christianity Into the World This is Day 4 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...
Oct 05,2009, 9:06AM | Email | Print | Share

I Cannot Be Silenced...Taking Christianity Into the World

By John Dillard
I Cannot Be Silenced...Taking Christianity Into the World I Cannot Be Silenced I will tell all I see. I cannot go back. His way is my way. I am forever His. We will always be together. I will live with Him forever in the Heavens. I have seen the Light and He is good. I have felt His presence. I know he looks after me through thick and thin. I have felt His forgiveness. He has blessed ...
Oct 04,2009, 9:53AM | Email | Print | Share

Serving the World's Children: Compassion International...Taking Christianity Into the World

By John Dillard
Compassion International: Serving the World's Children...Taking Christianity Into the World I have been a long standing supported of Compassion and has supported a child in South America for approximately ten years now. It has been a joy and a privilege to support our Compassion child. Not only has it helped her greatly, but it has allowed us to grow in the Lord and to encourage her. It is a...
Oct 03,2009, 5:20PM | Email | Print | Share

Your Entrepreneurial Business: Choosing a Business Entity Type

By John Dillard
Your Entrepreneurial Business: Choosing a Business Entity Type Incorporating Your Business There are many reasons a taxpayer may look to incorporate their business ranging from legitimacy, liability limitation and tax mitigation. Understanding these many nuances is your best first step in ensuring that you chose an entity type is best achieving success given your business model and operations. E...
Oct 03,2009, 10:01AM | Email | Print | Share

Ensuring Your New Corporation Stays Current

By John Dillard
Ensuring Your New Corporation Stays Current Though many file their initial Georgia Articles of Incorporation correctly, frequently as Paul Harvey would say "the rest of the story" is overlooked and missed. Being sure that you understand the big picture will help ensure your new business gets off on the right foot and does not fail in maintaining its responsibilities as a Georgia corporation. B...
Oct 02,2009, 7:50AM | Email | Print | Share

Your New Business Incorporation: Don't Forget the Details

By John Dillard
Your New Business Incorporation: Don't Forget the Details Though many file their initial Georgia/your state's Articles of Incorporation correctly, frequently as Paul Harvey would say "the rest of the story" is overlooked and missed. Being sure that you understand the big picture will help ensure your new business gets off on the right foot and does not fail in maintaining its responsibilitie...
Oct 01,2009, 1:44PM | Email | Print | Share

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...
Sep 30,2009, 9:28AM | Email | Print | Share

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...
Sep 29,2009, 10:06AM | Email | Print | Share

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...
Sep 28,2009, 8:14AM | Email | Print | Share

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...
Sep 27,2009, 8:42AM | 1 comments | Email | Print | Share

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...
Sep 26,2009, 2:01PM | Email | Print | Share

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...
Sep 24,2009, 8:01AM | Email | Print | Share

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 ...
Sep 23,2009, 5:25PM | Email | Print | Share

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...
Sep 23,2009, 8:07AM | Email | Print | Share

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...
Sep 22,2009, 9:43AM | Email | Print | Share

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...
Sep 21,2009, 8:56AM | Email | Print | Share

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...
Sep 20,2009, 8:59AM | Email | Print | Share

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...
Sep 19,2009, 4:51PM | Email | Print | Share

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...
Sep 17,2009, 8:37PM | Email | Print | Share

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...
Sep 17,2009, 8:42AM | Email | Print | Share

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...
Sep 16,2009, 9:42AM | Email | Print | Share

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...
Sep 15,2009, 10:20AM | Email | Print | Share

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...
Sep 14,2009, 12:19PM | Email | Print | Share

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: ...
Sep 11,2009, 7:51AM | Email | Print | Share

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.
Sep 10,2009, 2:39PM | Email | Print | Share

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...
Sep 10,2009, 8:41AM | Email | Print | Share

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...
Sep 09,2009, 8:30AM | Email | Print | Share

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...
Sep 08,2009, 12:01PM | Email | Print | Share

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:
Sep 07,2009, 5:25PM | Email | Print | Share

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...
Sep 04,2009, 8:51AM | Email | Print | Share

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...
Sep 02,2009, 10:12AM | Email | Print | Share

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...
Sep 01,2009, 10:02AM | Email | Print | Share

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...
Aug 31,2009, 8:34AM | Email | Print | Share

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]."
Aug 29,2009, 8:16AM | Email | Print | Share

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...
Aug 28,2009, 7:37AM | Email | Print | Share

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...
Aug 27,2009, 8:19AM | Email | Print | Share

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...
Aug 26,2009, 7:50AM | Email | Print | Share

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...
Aug 25,2009, 7:25AM | Email | Print | Share

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 ...
Aug 24,2009, 8:35AM | Email | Print | Share

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...
Aug 23,2009, 11:51AM | Email | Print | Share

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...
Aug 22,2009, 10:14AM | Email | Print | Share

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...
Aug 21,2009, 8:07AM | Email | Print | Share

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 ...
Aug 20,2009, 7:50AM | Email | Print | Share

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...
Aug 19,2009, 1:53PM | Email | Print | Share

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...
Aug 17,2009, 7:59AM | Email | Print | Share

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.
Aug 14,2009, 8:00AM | Email | Print | Share

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...
Aug 13,2009, 8:32AM | Email | Print | Share

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...
Aug 12,2009, 8:05AM | Email | Print | Share

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.
Aug 11,2009, 10:02AM | Email | Print | Share

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...
Aug 10,2009, 8:02AM | Email | Print | Share

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 ...
Aug 09,2009, 11:52AM | Email | Print | Share

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...
Aug 07,2009, 7:54AM | Email | Print | Share

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...
Aug 06,2009, 10:30AM | Email | Print | Share

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 ...
Aug 05,2009, 7:53AM | Email | Print | Share

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...
Aug 04,2009, 3:46PM | Email | Print | Share

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...
Aug 03,2009, 11:47AM | Email | Print | Share

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...
Aug 02,2009, 9:13PM | Email | Print | Share

Helping Your Entrepreneurial Business Grow Using a Part-Time Chief Financial Officer/Virtual Controller

By John Dillard
Helping Your Entrepreneurial Business Grow Using a Part-Time Chief Financial Officer/Virtual Controller A CPA who is well versed in Business Issues can be much more than just a tax return preparer. If you are a business owner, run and do not walk to the nearest and best CPA you can find. Utilizing the services of a CPA with a divergent track able and proven history of success is essential to long...
Jul 30,2009, 7:21AM | Email | Print | Share

Filing Old Tax Returns: Turning and Repenting...Taking Christianity Into the World

By John Dillard
Filing Old Tax Returns: Turning and Repenting...Taking Christianity Into the World Recently I received the attached letter from a taxpayer looking to address their unfiled and unpaid back taxes. The fear and the sin is not in the repenting but from not doing so. Our faith is centered and based upon forgiveness to all who honestly seek it and turn from their past and look to live in the light of J...
Jul 29,2009, 8:40AM | Email | Print | Share

How to be Sure Your Internal Bookkeeping is Correct

By John Dillard
How to be Sure Your Internal Bookkeeping is Correct Below is a list of items you might use to critique to your internal books. Each and every company should prepare one that is specifically designed to their business to ensure that their financial results are carefully monitored and operating integrity retained. Serving as an Atlanta CPA for over thirty years, I have learned that both having and referring to a "well-kept" set of internal books is a sign of all successful entrepreneurs. The attached checklist will be a good start to ensuring that your own company's books are correct:
Jul 28,2009, 6:48AM | Email | Print | Share

Getting Ready for the Rest of Your Life: Planning for Retirement

By John Dillard
Getting Ready for the Rest of Your Life: Planning for Retirement   1. What will I do when I retire?2. What will my lifestyle be like?3. Can I afford to retire?   If those questions are plaguing you as you get ready to retire, please know that you are not alone. I speak with individuals all of the time who are contemplating their retirement without knowing the answers to these...
Jul 27,2009, 7:23AM | Email | Print | Share

How to Save Money on Health Care

By John Dillard
How to Save Money on Health Care   Whether you buy your healthcare coverage through your employer or independently, you need to look at your coverage the same way cost-cutting entrepreneurs do. Buying coverage in the future won't stop at finding the best price - what you pay increasingly will involve how well you personally manage your health. According to a report last year by benefits...
Jul 26,2009, 5:54PM | Email | Print | Share

Loving Others Through Difficult Times...Taking Christianity Into the World

By John Dillard
Loving Others Through Difficult Times...Taking Christianity Into the World Just recently I received the attached letter (which of course was sterilized to protect all parties concerned) from a Believer who was seeking to be obedient to God's word. Perhaps the most difficult verse of all in the Bible is Philippians 2:3 which calls us to respect and consider others better than ourselves even though, perhaps intellectually, the facts suggest otherwise. The letter is as follows:
Jul 23,2009, 1:15PM | Email | Print | Share

Tax Garnishments, Collection Issues, and Offers in Compromise

By John Dillard
Tax Garnishments, Collection Issues, and Offers in Compromise Often when the tax man cometh, he does so with an iron fist and a hammer. Frequently in striving to address tax issues, situations frequently worsen before they can get better as it takes time for items to be "worked through the process." This is a sample letter that might be used when the state is pursuing aggressively collection meth...
Jul 22,2009, 8:29AM | Email | Print | Share

Tips to Keep Vacation Spending in Check

By John Dillard
Tips to Keep Vacation Spending in Check   As the economy continues its climb out of recession, many families might be thinking twice about what they spend on the annual summer vacation. But there are ways to preserve the tradition by being smart about spending. Some ideas:   Get on the mailing list: For any possible destination you can think of, go to their Web sites early an...
Jul 20,2009, 12:56PM | Email | Print | Share

Becoming Like Him...Taking Christianity Into the World

By John Dillard
Becoming Like Him...Taking Christianity Into the WorldToday I received a note from a Believer who was seeking what they might do as they were at the lowest spiritual level personally that they had been in years. They were seeking what they might do to encourage and strengthen themselves in the Lord prompting me to suggest:
Jul 19,2009, 9:33AM | Email | Print | Share

Tax Tips to Have a Successful Audit Experience

By John Dillard
Tax Tips to Have a Successful Audit Experience   These basis tax tips will do much to ensure that you keep adequate books and records to support your business deductions as well as to ensure that you will have much of the documentation that an IRS agent will want to see during the performance of an audit. Being prepared is your best bet and it starts each and every day by keeping good b...
Jul 16,2009, 8:31AM | Email | Print | Share

Utilizing Net Leases & Investing in Commercial Real Estate

By John Dillard
Utilizing Net Leases When Investing in Commercial Real Estate Investing   As I speak with potential investors about the possibilities of investing in commercial real estate, one of the biggest misunderstandings is the net lease. Net leases are commercial real estate investments in which the tenant takes more responsibility for the building, while giving the landlord less management re...
Jul 15,2009, 8:20AM | 1 comments | Email | Print | Share

Determining if You Need an Audit vs. a Compilation

By John Dillard
When to Use an Audit vs. a Compilation Yes you can get a CPA Audit done on your company. However an audit is approximately four to five times more expense than a compilation. Frequently a banker or outside investor can be satisfied without having to go through the full expense of an audit. Knowing when to use which and the nuances thereof will do much to help ensure that you do not incur unn...
Jul 14,2009, 8:00AM | Email | Print | Share

Planning for the Financial Impacts of Job Changes and Retiring

By John Dillard
Planning for the Financial Impacts of Job Changes and Retiring Your retirement savings plan offers you several choices when you decide to change jobs or when you retire. A distribution is a payout of realized savings and earnings from a 401(k) or other retirement plan. In general, you must begin taking distributions from your account by April 1 of the year following the year in which you turn 70 ...
Jul 13,2009, 3:35PM | Email | Print | Share

Understanding Investment Risk

By John Dillard
Understanding Investment Risk Ask any investor about risk and you'll probably hear that it's something the investor wants to avoid or at least keep to a minimum. Like it or not, investment risk is an essential part of any investment decision. Properly managed, risk can be turned to the investor's advantage. What is risk? The answer depends on whom you ask. If you ask an investor, particularly an inexperienced investor, you'll probably hear that risk means that you might permanently lose a portion of the money you invest.
Jul 12,2009, 7:57PM | Email | Print | Share

Are You Ready for Retirement

By John Dillard
Are You Ready for RetirementWith summer here many of us are planning our summer get away. We take a lot of time to make sure that we get where we want to go and are able to enjoy the things we look forward to all year. We work hard all year and deserve to have a nice vacation. Planning is essential to being sure that our vacation is what we want it to be. Planning for your retirement is also very ...
Jul 10,2009, 8:09PM | Email | Print | Share

Understanding Market Fluctuations

By John Dillard
Understanding Market Fluctuations Continuing to invest in your retirement plan is sometimes difficult to do during market declines but, regularly adding to an account that's designed for a long-term goal may cushion the emotional impact of market swings. If losses are offset even in part by new savings, the bottom-line number on your statement might not be quite so discouraging.
Jul 09,2009, 8:16AM | Email | Print | Share

Roth's & Traditional IRA's for 2009

By John Dillard
Roth's & Traditional IRA's for 2009There are no changes to the contribution limits set for traditional or Roth IRAs in 2009. The ceiling remains as it was last year: you may contribute up to $5,000 if you're under 50 years of age, or $6,000 (using the "catch-up" provision that allows an additional $1,000 if you're over 50 or turn 50 during 2009). Current legislation stipulates that future limits will be adjusted for inflation in $500 increments.
Jul 08,2009, 3:52PM | Email | Print | Share

Helping Your Clients with Clear Concise Communications

By John Dillard
Helping Your Clients with Clear Concise Communications   Taxes and Running a Business as an Entrepreneur are difficult enough without having to wonder about what to do and when. For over twenty years each and every one of our invoices to clients have detailed not only the work done but clear concise constructive communication that a client can use to stay aware of their responsibilities...
Jul 07,2009, 5:14PM | Email | Print | Share

Sample Letter to Georgia Addressing Assessed/Unpaid Income Taxes

By John Dillard
Sample Letter to Georgia Addressing Assessed/Unpaid Income Taxes Attached please find a sample letter one might use to address assessed taxes to the state of Georgia when the taxpayer is not aware of what the taxes might be for. Care should be exercised in all letters to ensure that honesty, integrity and good faith are maintained at all levels of communication, as well as to stay ever vigilant o...
Jul 07,2009, 7:54AM | Email | Print | Share

Offers in Compromise & Installment Plans

By John Dillard
Offers in Compromise & Installment Plans Working with the state and not against it is your best option for getting your tax issues resolved. Hiding you head in the sand will only make the situation worse and taxes and penalties are added and collection efforts are intensified. Having served as a CPA to Atlanta business owners and individual decades I have learned that good honest forthright c...
Jul 06,2009, 7:56AM | Email | Print | Share

Protecting Your Hard Earned Money

By John Dillard
Protecting Your Hard Earned Money I am constantly encouraging homeowners to get "Fire Insurance" for their money. It's free and all it takes is a little initiative, a little time, a home and a bank. Banks and savings and loans have long helped homeowners finance life's little surprises by offering a home equity line on their home. This amount is a function of both the equity in your home as well as your credit score. Even though the market for loans is tight and home values are depressed setting up a line with the bank is usually free and will help ensure you have money "when you need it."
Jul 05,2009, 4:54PM | Email | Print | Share

WWJD...What Would Jesus Do if He Was a CPA

By John Dillard
WWJD...What Would Jesus Do if He Was a CPA We strive to live our lives by a higher standard; not just to live by the world's but to live by God's standards. Though I am challenged to be the very best CPA I can be by helping clients keep their tax bills as low as legally possible. However I believe as a CPA and a Believer I am called to a much higher standard in helping clients develop tools and r...
Jul 03,2009, 8:20AM | 1 comments | Email | Print | Share

Straight Dealings with the IRS is Your Best Opportunity to Audit Success

By John Dillard
Straight Dealings with the IRS is Your Best Opportunity to Audit Success Working with the IRS in an honest open and straightforward basis is your best bet to ensure that your audit experience, to the extent that it can be, is an success. Frequently I see clients who are audited because they have a business and attempt to prepare their returns on their own. Tax law should never be attempted to be ...
Jul 02,2009, 7:03AM | Email | Print | Share

Unlocking the Mystery Behind CPA Fees

By John Dillard
Unlocking the Mystery Behind CPA Fees A typical small business fees annually to do your corporate and personal income tax return, tax planning, miscellaneous questions throughout the year, and help get your year-end data ready to prepare your corporate return would be approximately $1300.
Jul 01,2009, 2:00PM | Email | Print | Share

Common Pitfalls When Using IRS Installment Plans

By John Dillard
Common Pitfalls When Using IRS Installment Plans 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 frequently result in a lower cash outlay. These options are only for those who either meet the rules, guidelines and procedure for submitting an Offer or who have the financial ability to pay the tax and interest in full at the time of requesting a penalty abatement.
Jun 30,2009, 7:46AM | Email | Print | Share

Practicing Excellence & Serving the Kingdom

By John Dillard
Practicing Excellence & Serving the Kingdom As a Body of Believers we are constantly called to do our best and to excel in all that we do. This applies to us as a husband, wife, child, brother, sister, worker, student or friend. To this end we should give back to the community in which we serve. We have long believed that we should give back by offering free speeches and initial consultations...
Jun 29,2009, 7:45AM | Email | Print | Share

Saving Monies in Payroll Tax Penalties

By John Dillard
Saving Monies in Payroll Tax Penalties One of the tax cases we personally handled involved an Atlanta Based client who had not paid almost three years of payroll tax returns, specifically IRS Forms 940 and Form 941.During this time the company collected but did not remit to the IRS the Federal Withholding Taxes, FICA, and Medicaid taxes. Also the company did not pay the matching taxes due as well...
Jun 28,2009, 10:02AM | Email | Print | Share

Choosing an Accounting Software for your New Business

By John Dillard
Choosing an Accounting Software for your New Business Recently I received the below question on my web-site asking "My dad wants to start a small business. What accounting/bookkeeping software would be appropriate?" As a general rule I would suggest QuickBooks HOWEVER that is akin to diagnosing a patient without seeing them. Please feel free to give me a call and we can give you a more directive...
Jun 27,2009, 2:09PM | 1 comments | Email | Print | Share

Utilizing Key Business Operating Statistics

By John Dillard
Utilizing Key Business Operating Statistics Checking your business credit worthiness is not for the meek of heart and can be done without ever leaving the office, calling your bank or logging on to the Internet. All you need to do is to print out your internal financials and utilize a few basic mathematical calculations and you are well on your way. Entrepreneurs often feel they need outside prof...
Jun 26,2009, 8:32AM | Email | Print | Share

Sample Installment Agreement Cover Letter

By John Dillard
Sample Installment Agreement Cover Letter Most states like Georgia, and the IRS, allows both corporate and personal/individual taxpayers, who cannot pay their taxes in full, to set up an installment agreement to pay the taxes over time. Though this is a good plan for many, it is often the most expensive as during the time period, when the payments are being made, both penalties and interest conti...
Jun 25,2009, 7:46PM | Email | Print | Share

Being Ever Diligent...While Collecting Unpaid Invoices

By John Dillard
Being Ever Diligent...While Collecting Unpaid Invoices The Apostle Paul Commands us to be ever diligent as Satan is always seeking for those he might devour. It is by our readiness and putting on the very armor of Christ that we are able to do God's bidding. When we are addressing collection issues, it is easy to fall into righteous indignation as others fail to live up to their end of the bargai...
Jun 18,2009, 8:21AM | Email | Print | Share

Following Christian Precepts...While Collecting Unpaid Invoices

By John Dillard
Following Christian Precepts...While Collecting Unpaid Invoices God guides us, throughout the Bible, to be good stewards of our time, money and resources. To this end, there are many variables to be explored when making collection efforts that I have detailed below of situations and circumstances where we tried to go the extra mile in being a Christian and a Believer on both collection issues and...
Jun 17,2009, 8:29AM | Email | Print | Share

Keeping Your Christian Principles...While Collecting Unpaid Invoices

By John Dillard
Keeping Your Christian Principles...While Collecting Unpaid Invoices I am frequently asked as well as challenged myself in ensuring that all of the collection procedures of my business are performed in a matter, that is conducive to the Body of Christ and is according to God's word. Certainly there are times when we should give our time away, just as Jesus modeled, as others have needs that far o...
Jun 16,2009, 8:27AM | Email | Print | Share

Collection Issues for Your Christian Based Business...New Series Starts Today. ...The Christian Collection Series

By John Dillard
Collection Issues for Your Christian Based Business...New Series Starts Today. ...The Christian Collection Series The Christian Collection Series is for business owners who are seeking both to emulate and honor God with their actions and deeds in all of their regular business activities. Often when reading both the Bible we are left to consider for ourselves that the words mean, as well as their ...
Jun 15,2009, 7:19PM | Email | Print | Share

Serving God by Serving Others...Taking Christianity Into the World

By John Dillard
Serving God by Serving Others...Taking Christianity Into the World Though I have worked hard over the decades of experience serving as a CPA to Atlanta are business for decades. It is our faith in Jesus Christ alone that gives us strength and the encourage to go one. When all fails, it is in our weakness and in our supplication to Him alone that we are one with him. All that I am and all that I w...
Jun 15,2009, 10:59AM | Email | Print | Share

Living in the Moment...Taking Christianity Into the World

By John Dillard
Living in the Moment...Taking Christianity Into the World I have known many who were here today and then gone tomorrow, as God calls those he loves home. Maybe you have a friend today that you have unresolved conflict with or need to reach out to. Perhaps there is someone in your life that you have not told you love them lately or could there be something in your own life, that you still need t...
Jun 14,2009, 5:42PM | Email | Print | Share

Tax Negotiations Saves Tax Client Tens of Thousands of Dollars

By John Dillard
Tax Negotiations Saves Tax Client Tens of Thousands of Dollars A Good CPA Should Ultimately Save You Money We have recently received commitments from the IRS to save one of our clients tens of thousands of dollars. Though many would see this as successful, and I would certainly agree, but we are not done yet. As Believers we march to the tune of a higher drummer and therefore we do not stop to ...
Jun 13,2009, 8:23AM | Email | Print | Share

When you Should Incorporate

By John Dillard
Knowing When to Take Your Business to the Next LevelIncorporating in Georgia is still one of the best things you can do as you plan for your long-term business's success. Incorporating gives you several advantages that you otherwise could not enjoy.
Jun 12,2009, 8:35AM | Email | Print | Share

Incorporation Procedures for Your LLC

By John Dillard
Incorporation Procedures for Your LLC Incorporating as an LLC...Understanding the Incorporation Process Incorporating as an LLC is not necessarily difficult but those who do it alone without the services of a good attorney are a sitting recipe for disaster. Frequently I will see clients, who have incorporated themselves soon to learn that although they have filed the Georgia Articles of Incorpor...
Jun 11,2009, 8:25AM | Email | Print | Share

Top Five (5) to a Successful IRS Audit Experience

By John Dillard
Top Five (5) to a Successful IRS Audit Experience If you have just received a tax notice these tax tips will do much to ensure that you stay out of trouble with the IRS as well as mitigate it, once it occurs and will be one you will want to refer to again and again. These are the most common mistakes business owners and taxpayers make resulting in much extra stress and additional penalties and in...
Jun 10,2009, 7:22AM | Email | Print | Share

Sample Cover Letter When Getting Ready to Prepare for an IRS Audit

By John Dillard
Sample Cover Letter When Getting Ready to Prepare for an IRS AuditWhen getting ready for an IRS audit it is good to start off the relationship with both the client and the IRS to build trust, confidence, availability and goal setting. As none of us in life will be able to do it all by ourselves, finding a CPA who has a proven track record of success in IRS Representation issues whether you are fac...
Jun 09,2009, 10:54AM | Email | Print | Share

Christian Business Leaders Summit 2009..Taking Christianity Into the World

By John Dillard
Christian Business Leaders Summit 2009..Taking Christianity Into the World Christian Business Leaders Needed for Summit in Uganda for October, 2009 Christian Business Leaders in Uganda are putting the final touches on their walk of faith in having the first ever Christian Business Leaders Summit. Below is the organizers letter I just received. Pray what God would have you do as we Take Christian...
Jun 08,2009, 8:15AM | Email | Print | Share

Free Keynote Speaking by Speaker/Author John Dillard CPA

By John Dillard
 Free Keynote Speaking by Speaker/Author John Dillard CPA for Your Business Group or ChurchIn my pursuit of speaking engagements, I am looking to promote and offer:-Free tax and business advice to entrepreneurs. To gain a feel for what I do feel free to visit www.HisCPA.com Just a small sampling of what we can over includes:
Jun 07,2009, 1:57PM | Email | Print | Share

Amending Income Tax Returns Can Save Thousands

By John Dillard
Amending Income Tax Returns Can Save ThousandsOften taxpayers feel after they have filed an income tax return that they are etched in stone. Though you want this to be the case as no one likes to tax returns twice, frequently having a CPA critique your past returns, especially if you are a business owner and had returns filed by someone who is not a CPA, is often a great way to "find unclaimed money." In reviewing past business/corporate as well as personal income tax returns we have amended returns to reflect:
Jun 05,2009, 8:16AM | Email | Print | Share

Loan Procurement in a Down Economic Market...How to Market and Promote Your Business Financing Needs

By John Dillard
Loan Procurement in a Down Economic Market...How to Market and Promote Your Business Financing Needs Despite the news of the times and the severity of the downturn in the economic market, there remains financially sound quality lenders who are seeking to extend credit to qualified business owners. As you would expect, however, banks are getting back to the basics of lending practices that ruled t...
Jun 04,2009, 9:51AM | Email | Print | Share

Getting Your Banker to Say Yes to Financing Needs...Getting Financing For Your Business

By John Dillard
Getting Your Banker to Say Yes to Financing Needs...Getting Financing For Your Business Business Banking 101 Knowing how to best package your business and to present yourself to a banker is essential to getting your bank to say yes to your financing needs. This is the third part of the series of Getting Financing For Your Business. Integral building blocks to this series can be found on this blo...
Jun 03,2009, 8:28AM | Email | Print | Share

Business Credit & How to Acquire It...Getting Financing For Your Business

By John Dillard
Business Credit & How to Acquire It...Getting Financing For Your Business There is no magic pill to take that will make you business "bankable." As you would expect, banks make loans with the goal of being repaid, thus some of their primary concerns will center on your most recent past history, experience and the basics of your business itself. Frequently however business owners instead will ...
Jun 02,2009, 7:52AM | Email | Print | Share

The Five C's of Lending...Getting Financing For Your Business

By John Dillard
The Five C's of Lending...Getting Financing For Your Business "Knowing the Ropes" is essential to positioning your company to be able to be in a position to be bankable and to get a line of credit or more permanent financing when it is most needed by your business. Just as you cannot obtain fire insurance the day after a fire and to have it cover a past loss. Similarly is it true, that you cannot...
Jun 01,2009, 9:10AM | Email | Print | Share

Getting Financing For Your Business...New Series Starts Today

By John Dillard
Our Newest Series Starts Today...Getting Financing For Your Business Techniques for Financing Your Business, Procuring Credit & Mortgages Learning what you can do to get your business and personal affairs in order to address financing needs and issues is essential. As a forbearer to a new series called Getting Financing For Your Business will be coming soon. This series will focus on what yo...
May 29,2009, 8:22AM | Email | Print | Share

Mission Trip Preparations Prayers...Taking Christianity Into the World

By John Dillard
Mission Trip Preparations Prayers...Taking Christianity Into the World I found in my journal from June, 2004 when we did our first family mission trip to serve the people in Jamaica. These were notes that I listed and prayed over before the trip, that I constantly prayed during, and continue to have prayed on past and for future trips: God's Peace. God offers a peace that surpasses all understan...
May 28,2009, 8:18AM | 1 comments | Email | Print | Share

Business Inspiration/Leadership & Financial Management

By John Dillard
Business Inspiration/Leadership & Financial Management Working closely with business owners for decades, our experience to bear to "Keep Your Tax Bill as Low as Legally Possible" while serving as a part-time Virtual Chief Financial Officer for Business Owners has created a wealth of information that is available now, at your fingertips. To that end we look first to serve, be helping others wi...
May 27,2009, 9:32AM | Email | Print | Share

Navajo Family Missions Supported by American Bible Society

By John Dillard
Navajo Family Missions Supported by American Bible Society Taking Christianity Into the World The American Bible Society is a non-profit organization with the goal of presenting the fullness of life through faith in Jesus Christ. The organization originally began in 1816 and continues on its ministry, still today, almost 200 years later. Last year the American Bible Society supported Family Miss...
May 26,2009, 10:18AM | 1 comments | Email | Print | Share

Passing Along the Gift...Taking Christianity Into the World

By John Dillard
Passing Along the Gift...Taking Christianity Into the World Many factors affect the difficult career decisions our students must make. This is true whether a student is in grade school, high school or college. Personal contact with a practicing professional in the field is helpful because it makes the idea of being in an certain professional or trade field. Willingness to share your knowledge and...
May 21,2009, 8:49PM | Email | Print | Share

Determining Mr. or Ms. Right/Christian Dating...Taking Christianity Into the World

By John Dillard
Determining Mr. or Ms. Right/Christian Dating...Taking Christianity Into the World Often we make many issues in life out to be much harder than they need to be. Many of life's answers are available if we will just be still, be aware and be open. When we clutter our lives with dizzying schedules, dates, socials and deadlines of all types, we will not be prone to hear the truth. We have all fallen ...
May 19,2009, 7:26AM | 1 comments | Email | Print | Share

Utilizing a Payroll Service Saves Time & Money

By John Dillard
Utilizing a Payroll Service Saves Time & MoneyFor the new business owner getting your new business started; it is essential to get it going in the right direction; utilizing an Payroll Service is your best bet to get your business started off on the right foot. A payroll service has the advantage, whether you have one employee or thousands, of quickly and efficiently handling all of your payro...
May 18,2009, 8:27AM | Email | Print | Share

Staying the Course...Taking Christianity Into the World

By John Dillard
Staying the Course...Taking Christianity Into the World As a Body of Believers we are constantly bombarded with issues that are well beyond our "pay grade" leaving us to do the only thing we can: lean on the power of the Holy Spirit. Life issues will bombard us leaving us confused, dismayed, bewildered and feeling hopeless. Though many times in life our intentions are pure, are actions are withou...
May 17,2009, 12:23PM | Email | Print | Share

Witnessing...Taking Christianity Into the World

By John Dillard
Witnessing...Taking Christianity Into the World Determining your witnessing style one of the essential components of your Christian Walk. Knowing how you best relate to others and how God can use you to share the word of God is a gift that keeps on giving, as more and more people are led to hear the good news of Jesus Christ. Jesus did not 'hang out at church' to reach the world, but looked to Ta...
May 16,2009, 9:33AM | Email | Print | Share

Utilizing Estate Planning

By John Dillard
Estate Planning 101: What You Don't Know Might Cost You A CPA should not only be your best "financial friend" he should also be a source of providing other financial advisers who can assist and advice in many other varied sections of longer-term financial advising, such as estate planning. Though many of us, even though as Believers we know where we are going, there is frequently a lack of intere...
May 15,2009, 7:48AM | 1 comments | Email | Print | Share

Resolving Tax Issues with the IRS

By John Dillard
Resolving Tax Issues with the IRS Two basis tenants are at the center of most every tax issue. As U.S. citizen's law requires us, to pay our just and fair tax. Though we, while making the calculation of the tax itself to determine the determination of the actual tax amount owed, the responsibility to file and pay your just legal taxes is not voluntary and is required by law. Most tax issues that ...
May 14,2009, 8:05AM | Email | Print | Share

Incorporation Procedures 101

By John Dillard
Incorporation Procedures 101 Incorporating is not necessarily difficult but those who do it alone without the services of a good attorney are a sitting recipe for disaster. Frequently I will see clients, who have incorporated themselves soon to learn that although they have filed their Articles of Incorporation they have failed in many other areas including. Please note these issues were written ...
May 13,2009, 9:51AM | Email | Print | Share

Appealing an Offer in Compromise Initial Determination

By John Dillard
Offer in Compromise Letter for Offer in Compromise Appeal Below please find a sample Offer in Compromise Letter that one Might Use for an Appeal. All letters to the IRS should be drafted with an means to an end, build empathy, create trust and cite tax law. Helping processing agents understand a tax case can do much to have an Offer in Compromise accepted saving thousands of dollars, avoid unnece...
May 12,2009, 7:25AM | Email | Print | Share

Tax Law Surrounding Non-Cash/Property Charitable Contributions

By John Dillard
Tax Law Surrounding Non-Cash/Property Charitable Contributions The tax recording for and the claiming of itemized deductions on your personal income tax return has been a "hot-bed" of consternation for both taxpayers and the IRS alike. Often one of the deductions that the IRS will evaluate when auditing a return, it is prudent as with all areas of tax law to understand the nuances and to record t...
May 11,2009, 8:50AM | Email | Print | Share

Utilizing Investment Strategies to Maximize Your Rate of Return

By John Dillard
Utilizing Investment Strategies to Maximize Your Rate of Return Especially in light of these economic times being a wise steward and investor are even more critical. It is prudent to keep in mind when investing the difference between short and long-term capital gain rates as often the difference between paying a lesser amount and a larger amount can be determined on the holding period of stock. ...
May 10,2009, 8:52PM | Email | Print | Share

Sample IRS Representation Letter to File Power of Attorney & Offer in Compromise

By John Dillard
Sample IRS Representation Letter to File Power of Attorney & Offer in Compromise Ensuring Successful Dealings with the Internal Revenue Service When transmitting data to the IRS on behalf of a client I never use it as a means to a end but rather as part of a well-thought out process. Letters should be polite regardless of the situation, informative, insightful and direct. In all letters tha...
May 09,2009, 3:35PM | Email | Print | Share

Speaking The Truth in Love...Taking Christianity Into the World

By John Dillard
Speaking The Truth in Love...Taking Christianity Into the World My wife is perhaps the most beautiful woman in the whole world. Though she is beautiful on the outside, that is not what I love most about her. I love who she loves more than anyone else in the world, she loves my Savior, she loves God, Abba Father, Emmanuel (God in Us), she loves Jesus Christ. I would die for this woman any day, any...
May 08,2009, 7:59AM | Email | Print | Share

State Payroll Tax Issues/State Sales Tax/Business Licenses

By John Dillard
State Payroll Tax Issues/State Sales Tax/Business Licenses One of your first steps as you being your business, is that you will apply for a State Taxpayer ID Number to pay your Income Tax and Net Worth Tax obligations. This will be true for a C Corporation , S Corporation, LLC, LLP, Partnership or Proprietorship. If you are an S or an S Corporation or an LLC that converts to an S Corporation for ...
May 07,2009, 10:39AM | Email | Print | Share

Payroll Reporting Guidelines with the Internal Revenue Service

By John Dillard
Payroll Reporting Guidelines with the Internal Revenue Service The most burdensome administrative responsibility for a business owner. Whether you have one employee or a thousand, both the IRS and your state has a myriad of payroll reports and deadlines for which you are required to complete. Unfortunately there is not a one-stop shop to pay and report all of the varying deadlines and taxes. Howe...
May 06,2009, 8:14AM | Email | Print | Share

How to Utilize the First Time Home Buyer Credit

By John Dillard
How to Utilize the First Time Home Buyer Credit Beginning after April 8, 2008 and before December 1, 2009 taxpayers are eligible for the First-Time Homebuyer Credit. TO qualify you home must be purchased in the United States and you (and your spouse, if you are married) must not have owned any other main home during the three years preceding the date of purchase. The credit is determined as the ...
May 05,2009, 8:00AM | Email | Print | Share

National Day of Prayer...Taking Christianity Into the World

By John Dillard
National Day of Prayer...Taking Christianity Into the World Celebrate the 58th Annual Observation of the National Day of Prayer on Thursday, May 7th. The National Day of Prayer Task Force Mission is to "Communicate with Every Individual the Need for Personal Repentance and Prayer, Mobilizing the Christian Community to Intercede for America and its leadership..." The National Day of Prayer Task...
May 04,2009, 10:31AM | Email | Print | Share

An LLC and Legally Convert to an S Corporation for Tax Purposes

By John Dillard
Converting your LLC to an S Corporation Might Save You Money Though S Corps came into vogue in the 1950's when Congress passed legislation allowing business owners to pay their taxes on their business profits on their personal return, an Limited Liability Company (LLC) is a relative newcomer on the tax scene. Like an S Corporation the earnings from an LLC and their corresponding taxes are paid on...
May 03,2009, 9:53AM | Email | Print | Share

Appealing Tax Issues with the Internal Revenue Service

By John Dillard
Appealing Tax Issues with the Internal Revenue Service When going to war, a soldier will plan, plan and plan again being sure that their tactics, protocols and training are ready for the task at hand. Though at times ones equipment and abilities will be tasked to the very edge of their capacities, the goal of a good soldier is to the extent possible to accomplish the task at hand while avoiding a...
May 02,2009, 6:59PM | Email | Print | Share

IRS Offer in Compromise Can Save Tens of Thousands

By John Dillard
IRS Offer in Compromise Can Save Tens of Thousands Processing an Offer of Compromise is not for the faint hearted or ill advised. It is not something that I would suggest a client do alone or without a CPA whose experience and track record are provable, documented and verified. Many of our Georgia clients who are struggling with past tax problems, tax liens, tax levies, salary garnishments and ot...
May 01,2009, 7:57AM | Email | Print | Share

How to Business Partner with Your Financial Adviser

By John Dillard
How to Business Partner with Your Financial Adviser  Finding a CPA who will become your business partner is an integral component of seeking to take your business to the next level. If your business has just reached or about to reach the million dollar mark in gross revenue or sales, you need to go out and find a CPA whose experience and wisdom match that of your needs. Left to our own under...
Apr 30,2009, 7:36AM | Email | Print | Share

Family Missions Video...Taking Christianity Into the World

By John Dillard
Family Missions Video...Taking Christianity Into the World As Believers we are all called to tell the good news of Jesus Christ as we take God along with us to work, school play and in fact, every place we go. Our family has opted to pursue Family Missions as one of the basic tenants and building block of our family. Though we do attend church regularly and actively participate in our own individ...
Apr 29,2009, 7:04AM | Email | Print | Share

Finding a CPA Who Installs Confidence in your Business and Financial Management

By John Dillard
Finding a CPA Who Installs Confidence in your Business and Financial Management As a entrepreneur you now find yourself in the daunting task of not only running your business but also finding a CPA whose talent and experiences align themselves well with your business. I recently met with a potential new client who advised that their present CPA has had their tax data for thirty days and has not y...
Apr 28,2009, 7:41AM | Email | Print | Share

Net Operating Loss Carry-backs and Net Operating Loss Carry-Forwards

By John Dillard
Net Operating Loss Carry-backs and Net Operating Loss Carry-Forwards Tax law has long allowed individual taxpayers to carry back and to carry forward tax losses to offset reportable income in other years. Thus if a taxpayer has a business loss that is reflected on a return they can carry these losses either back for forwards thereby legally sheltering income and creating refunds that would otherw...
Apr 27,2009, 8:05AM | Email | Print | Share

Ministers' Compensation and Housing Allowance

By John Dillard
Ministers' Compensation and Housing Allowance A frequently misunderstood portion of tax law centers around the a minister's income and his parsonage/housing allowance. Generally speaking a minister's parsonage or rental allowance is excluded from his gross income when calculating his taxable income for income tax purposes. However, the parsonage allowance is not deductible when determining a past...
Apr 26,2009, 2:13PM | Email | Print | Share

Alternative Sources of Funding Your Business: Understanding Asset Based Lending

By John Dillard
Alternative Sources of Funding Your Business: Understanding Asset Based Lending What to Do When the Bank Says No Asset based lending is perhaps one of the least know of all the funding opportunities a business owner or entrepreneur has at their disposal when traditional banking options fail. Banks traditionally have and continue to focus more on the track record of a business given its past resu...
Apr 24,2009, 8:16AM | Email | Print | Share

Tips to Ensure your Ministry/Business's Financial Survival

By John Dillard
Tips to Ensure your Ministry/Business's Financial Survival These time tested techniques will do much to enlighten you to discover "hidden information" and relevant data as you prepare your 2008 Year-End Income Tax Returns. Whether you are in Ministry or a business owner looking beyond the numbers is the best way to discover critical and insightful news to help make wise and informed financial...
Apr 23,2009, 7:47AM | Email | Print | Share

Commissioning Missionaries...Taking Christianity Into the World

By John Dillard
Commissioning Missionaries...Taking Christianity Into the World Mission Commissioning Throughout the broad extent of the country from which you will travel,By your love of God and your love for others,You have shown that you are Believers, not only with the knowledge of God, but also the willingness to share,You have illustrated a desire and passion to lay down your lives for others. You have a...
Apr 22,2009, 8:24AM | Email | Print | Share

Tax Advantages of Converting Your C Corporation to an S Corporation

By John Dillard
Tax Advantages of Converting Your C Corporation to an S Corporation Recently I converted one of our C Corporations to an S Corporation. Filing a Form 2553, which is the IRS election that a company makes to be treated as an S Corporation, does this. The company was a profitable one and had income in the hundreds of thousands. By doing so, the company was able to avoid the double taxation that a C ...
Apr 21,2009, 8:49AM | Email | Print | Share

Entrepreneur's Guide to Successful Business Management

By John Dillard
Entrepreneur's Guide to Successful Business Management Utilize this informative checklist to ensure that you are well armed and informed to take you and your business to the next level. Covering a wide host of tax, operational and financial issues this is a checklist you will want to come back to again and again. GETTING STARTED: DEVELOPING THE BASICS • Choosing an entity type (C or S Co...
Apr 20,2009, 9:57AM | Email | Print | Share

Going the Extra Mile: Seeking First to Understand...Taking Christianity Into the World

By John Dillard
Going the Extra Mile: Seeking First to Understand...Taking Christianity Into the World Recently I did work for a client where the return, the IRS requirements and the coordination was especially difficult. In those circumstances, as in this one, I sought not to bill all of the time incurred out of both sensitivity to the client and to keep the client happy. Usually however, because of the extra e...
Apr 19,2009, 8:44AM | Email | Print | Share

How C Corporations can Legally Convert to S Corporations Avoiding the "Double Taxation" Effect of C Corporations

By John Dillard
How C Corporations can Legally Convert to S Corporations Avoiding the "Double Taxation" Effect of C Corporations If you think your taxes are bad enough, they can be worse. If your business is an C Corporation there may be substantive relief on the horizon. C Corporations can legally convert to S Corporation status saving thousands annually. C Corporations are taxed first at the corporate level an...
Apr 18,2009, 7:29PM | Email | Print | Share

Steps to Recover Financially in a Down Market

By John Dillard
Steps to Recover Financially in a Down Market The markets of 2009 have thus far remained volatile. As of March 2009 the markets are down nearly 50% from their peak in October 2007. Financial concerns and economic news continue to make headlines. You may be frustrated, angered, and even shocked by recent financial events. However, it is important to realize that market declines invariably presen...
Apr 17,2009, 12:20PM | Email | Print | Share

Tips to Finding a Good Financial Advisor

By John Dillard
Tips to Finding a Good Financial Advisor For those who have never hired a Financial Advisor it can be a daunting task. These core basic questions will do much to enlighten and empower you in making a wise and prudent decision. At the center of these questions is a desire to discover an advisors technical competency, to check their references and to see if you can establish a dialogue. For if you ...
Apr 16,2009, 7:28AM | Email | Print | Share

Business Sales and Acquisitions Tax Filing Requirements

By John Dillard
Business Sales and Acquisitions Tax Filing Requirements Filing the Asset Acquisition Statement: Form 8594 When buying or selling a business one of the most frequently neglected tax forms is IRS Tax Form 8594: Asset Acquisition Statement. Generally both the purchaser and the seller must complete Form 8594 and attach it to their income tax returns (Form 1040, 1041,1065,1120,1120S etc) when there i...
Apr 15,2009, 7:55AM | Email | Print | Share

Business Valuations: How to Prepare and Understand a Business Valuation

By John Dillard
Business Valuations: How to Prepare and Understand a Business Valuation Whenever you are contemplating buying or selling a business, presently own your company, or in the midst of estate planning, the value of a business is a critical component in all planning, acquisitions, or marketing your business. The most essential component of preparing or understanding a business valuation is a requisite ...
Apr 14,2009, 8:00AM | Email | Print | Share

LLC Corporations and LLP Corporation Returns are Due April 15, 2009

By John Dillard
 LLC Corporations and  LLP Corporation Returns are Due April 15, 2009 The 2009 Tax Deadline for filing of your 2008  Corporate LLC & LLP 2008 Income Tax Returns is April 15, 2009. Therefore all calendar year corporations are due by that date. If for any reason you are not able to file your return by the due date both the IRS and state allows you to extend your return for six mo...
Apr 13,2009, 6:39AM | Email | Print | Share

Sample Independent Contractor Agreement

By John Dillard
Sample Independent Contractor Agreement As a second part of the series I have provided below what a Sample Independent Contractor Agreement. Although a CPA is often the one who is best served to guide and direct an analytical and careful evaluation of the facts as presented. However care should be taken to have an attorney also be involved in drafting an Independent Contractor Agreement so that t...
Apr 12,2009, 3:35PM | Email | Print | Share

Determining if Your Workers are Employees or Independent Contractors

By John Dillard
Determining if Your Workers are Employees or Independent Contractors Tax law centers around proper classification of a worker as an employee or an independent contractor is often misunderstood exposing the employer/company at great legal and financial risk. The fact that you choose to pay someone as an independent contractor, when you treat them as an employee, will not preclude you from any and ...
Apr 09,2009, 7:18AM | Email | Print | Share

Preparing a Cover Letter for Your Offer in Compromise

By John Dillard
Preparing a Cover Letter for Your Offer in Compromise I have always found it advantageous in include the Offer in Compromise Offer itself that includes Forms 433A (if an individual Offer), 433B (if a business Offer) and Form 656 (the Offer itself) a cover letter detailing and establishing both a rapport with the client, assertions on a client's behalf, and a basis for dialogue. Including in this ...
Apr 08,2009, 8:56AM | Email | Print | Share

Addressing Unpaid Personal Income Taxes, Trust Fund Assessments and the 100% Penalty

By John Dillard
How to Address Unpaid Personal Income Taxes, Trust Fund Assessments and the 100% Penalty A Layman's Guide to Understanding Tax Issues with the IRS Understanding the tax issues a taxpayer has with the Internal Revenue Service is the best first step to beginning to address old personal tax returns that are either unfiled or unpaid. This is true regardless of whether you have old personal tax retur...
Apr 07,2009, 7:28AM | Email | Print | Share

Understanding and Utilizing Forensic Accounting Issues

By John Dillard
Understanding & Utilizing Forensic Accounting Issues Forensic accounting issues are not for the meek hearted or ill trained. As our world becomes more complex so should our procedures and internal controls. To protect your business, you will need much more than just a good business plan, but also fraud detection procedures, sound practices and procedures, adequate segregation of duties and th...
Apr 06,2009, 11:42AM | Email | Print | Share

Offer in Compromise 101: Understanding the Process and Guidelines of Submitting and Acceptance of an Offer in Compromise

By John Dillard
Offer in Compromise 101: Understanding the Process and Guidelines of Submitting and Acceptance of an Offer in Compromise Working with the IRS, rather than against it, is both an art and a science. Part of the process requires good record keeping, good tax advice, the right entity set-up, proper tax returns, good internal controls and much, much more. Care should be exercised in all levels to be s...
Apr 05,2009, 9:03PM | Email | Print | Share

2009 Tax Deadline News... Personal Income Tax Returns, LLC's, LLP's and Partnership Returns are Due April 15, 2009

By John Dillard
2009 Tax Deadline News... Personal Income Tax Returns, LLC's, LLP's and Partnership Returns are Due April 15, 2009The 2009 Tax Deadline for filing of your 2008 Personal Income Tax Return is April 15, 2009. Therefore all individual tax returns are due by that date. If for any reason you are not able to file your return by the due date both the IRS and state allows you to extend your return for six ...
Apr 04,2009, 8:54AM | Email | Print | Share

Financing 101 for Business Owners

By John Dillard
Financing 101 for Business Owners Helping Business Owners Obtain Financing is an integral component of good financial advising. Working with a CPA who has the wisdom and insight to knowing what is in your best interests when looking to obtain financing. A good CPA/financial adviser will not necessarily help you obtain your dreams, but will do much to steer you towards financial options and consid...
Apr 03,2009, 11:14AM | Email | Print | Share

American Recovery and Reinvestment Act of 2009 (ARRA)

By John Dillard
American Recovery and Reinvestment Act of 2009 (ARRA) On February 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act of 2009 (ARRA), commonly known as the Economic Stimulus Act. The IRS and DOL continue to define its provisions but here are some key highlights known so far:Increase in Payroll Checks. • The IRS issued revised federal withholding tables and A...
Apr 02,2009, 7:40AM | Email | Print | Share

Understanding Back Taxes, IRS Tax Liens and Assessed Income Taxes

By John Dillard
Understanding Back Taxes, IRS Tax Liens and Assessed Income Taxes A Practical Guide to Understanding Tax Issues with the IRS Knowing 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 unders...
Apr 01,2009, 9:43AM | Email | Print | Share

Taking Christianity Into the World: Heifer International -

By John Dillard
Heifer International - "Ending Hunger; Caring for the Earth" Heifer International is busy doing great things around the globe. Taking the idea of passing a gift along to a new level. Heifer is busy changing the world. Working with community leaders and families in over fifty countries and over 180 on-going projects Heifer continues to give a hand up and not a hand out. Though many believe the say...
Mar 31,2009, 7:54AM | Email | Print | Share

How to Use an Offers of Compromise with the Internal Revenue Service

By John Dillard
Utilizing the IRS Offer in Compromise Program to Get Your Taxes Back on Track The Internal Revenue Service's Latest Changes to the their Offer of Compromise Program is more detailed than it has been in the past. The IRS Offer of Compromise Program was initially established decades ago and the latest changes do much to strengthen and formalize their program. Requirements to submit an Offer of Com...
Mar 30,2009, 8:21AM | Email | Print | Share

The 9th Day - You Are Uniquely Poised - Taking Christianity Into the World

By John Dillard
The 9th Day - You Are Uniquely Poised - Taking Christianity Into the World Habakkuk 2:1I will stand at my watch and station myself on the ramparts; I will look to see what he will say to me, and what answer I am to give to this complaint. You have just completed a eight day program geared towards radically changing the way you do "church." God desires for our lives to be one of great joy, peace,...
Mar 29,2009, 8:16AM | Email | Print | Share

Bearing Fruit - Taking Christianity Into the World

By John Dillard
Bearing Fruit - Taking Christianity Into the World Matthew 7:15-20 "Watch out for false prophets. They come to you in sheep's clothing, but inwardly they are ferocious wolves. By their fruit you will recognize them. Do people pick grapes from thornbushes, or figs from thistles? Likewise every good tree bears good fruit, but a bad tree bears bad fruit. A good tree cannot bear bad fruit, and a bad ...
Mar 28,2009, 10:09AM | 1 comments | Email | Print | Share

I Double Dog Dare You!! - Taking Christianity Into the World

By John Dillard
I Double Dog Dare You!! - Taking Christianity Into the World Dare to Attempt Something so Great for the Kingdom of God that it is doomed to failure, lest Christ be in it! Frequently Try Something so BIG, that you will fall flat on your face, unless God helps you and provides a way. -Look for things that Others would tell you are impossible. (With God all things are possible) Matthew 19:26God is...
Mar 27,2009, 7:33AM | Email | Print | Share

Being Still - Taking Christianity Into the World

By John Dillard
Being Still - Taking Christianity Into the World "The LORD will fight for you; you need only to be still." Exodus 14:14 In our human frailty we most often do exactly what is not needed. We strive to fix and address life issues in our own right. I have learned, through God's grace, that my first charge in the face of adversity is to be still; for it is only by our inactivity are we able to see wh...
Mar 26,2009, 7:23AM | Email | Print | Share

Made for a Purpose - Taking Christianity Into the World

By John Dillard
Made for a Purpose - Taking Christianity Into the World "So you are no longer a slave, but a son [daughter]; and since you are a son [daughter], God has made you also an heir." Galatians 4:7 Discovering your destiny, who you are in God and what exactly you were made for is the mark of an active and mature Believer. Our Christian walk is full of special divine moments that only we can fulfill but...
Mar 25,2009, 8:22AM | Email | Print | Share

Be Like God - Taking Christianity Into the World

By John Dillard
Be Like God - Taking Christianity Into the World "Do not conform any longer to the pattern of this world, but be transformed by the renewing of your mind. Then you will be able to test and approve what God's will is-his good, pleasing and perfect will." Romans 12:2 Do you have "Statusitis?" Do you care more about the world or about God? We are told in the New Testament in Romans 12:2 we are told...
Mar 24,2009, 6:58AM | Email | Print | Share

Knowing God - Taking Christianity Into the World

By John Dillard
Knowing God - Taking Christianity Into the World "Blessed is the man who does not walk in the counsel of the wicked or stand in the way of sinners or sit in the seat of mockers. But his delight is in the law of the LORD, and on his law he meditates day and night." Psalm 1:1-2 If we love God, we will want to do what we can to learn who he is, how to talk to him and how to use His word to guid...
Mar 23,2009, 9:45AM | Email | Print | Share

The Non-Negotiables - Taking Christianity Into the World

By John Dillard
The Non-Negotiables - Taking Christianity Into the World There are many tenants to our Faith but there are some must haves that are essential to accepting the standard Jesus laid out for us. Understanding, Endorsing, and Sharing these are critical to you own spiritual walk as well as the furtherance of the Kingdom. By focusing on what that unites us, Believers across the world can unite for the b...
Mar 22,2009, 9:20AM | 4 comments | Email | Print | Share

Tell Everyone - Taking Christianity Into the World

By John Dillard
Tell Everyone - Taking Christianity Into the World "Therefore go and make disciples of all nations, baptizing them in the name of the Father and of the Son and of the Holy Spirit, and teaching them to obey everything I have commanded you. And surely I am with you always, to the very end of the age."Matthew 25:19-20 Dear Child of God, I have called you to do a Great Thing. I want you to put do...
Mar 21,2009, 8:35AM | 1 comments | Email | Print | Share

Spiritual Journey Ahead - Taking Christianity Into the World

By John Dillard
Spiritual Journey Ahead - Taking Christianity Into the WorldOver the next week to ten days my column will focus on taking each of you and every one of you on a spiritual journey of a lifetime and one I promise, that if you let go and let God, that you will never forget. During our trip and beforehand in prayer, we will be readying ourselves for the journey ahead. Our Journey and our Spiritual Walk is designed to take your Faith to yet a higher level still.
Mar 20,2009, 9:21AM | Email | Print | Share

Deducting Real Estate Losses: Understanding the Differences Between Active & Passive Losses

By John Dillard
Deducting Real Estate Losses: Understanding the Differences Between Active & Passive Losses It's time to take another look at the rules for rental properties for your deduction and a few of the tax rules to ensure that you qualify. Generally since the mid to early 80's the IRS has limited what one can deduct for rental properties based upon your level of participation.
Mar 15,2009, 9:21AM | 1 comments | Email | Print | Share

Internet Safety - Protecting our Children from On-Line Predators

By John Dillard
Internet Safety - Protecting our Children from On-Line Predators Though it may seem harmless enough as we watch our children play on the Internet from the safety of our homes, the truth is they are Internet predators who desire to get your child's attention and to lure them away. Protecting Georgia's Children , the whole of the United States and the world at large is an issue that we need to be both aware of and sensitive to. Discover below the many varied crimes are perpetuated and what you can do to protect those we love so very much.
Mar 10,2009, 1:11PM | 1 comments | Email | Print | Share

How to Resolve IRS Tax Issues

By John Dillard
How to Resolve Your Tax Issues With the IRS For the individual or business taxpayer who has run afoul of the IRS or the state and is dealing with seemingly overwhelming tax issues, there are words of wisdom to successfully resolve your tax problems, how to pay your taxes on a timely basis by properly utilizing withholding, estimated payments, and extensions. Though there are many you can do to he...
Mar 04,2009, 7:53AM | Email | Print | Share

Understanding U.S. Income Tax Returns for an S Corporation

By John Dillard
Understanding U.S. Income Tax Returns for an S Corporation Understanding the many variables of the correct preparation of a Form 1120S, the year-end income tax return for an S Corporation, is essential to properly managing your business affairs and practices. The tax law for S Corporations originated in some forty years ago and is a federal law allowing business owners to report their income on Form 1120S but to pay the taxes on these monies on their individual return Therefore there is no tax due when the Form 1120S is filed.
Mar 03,2009, 8:48AM | Email | Print | Share

Avoiding the Top Ten Mistakes Taxpayers Make

By John Dillard
Avoiding the Top Ten Mistakes Taxpayers MakeKnowing the pitfalls of many is often the best step to ensure that you do not fall prey to otherwise might be an easy to make common mistake. By staying away from these most often repeated mistakes you will avoid much of the pain which will otherwise will be created. The most frequently committed mistakes are:
Mar 02,2009, 9:02AM | 1 comments | Email | Print | Share

What can a Payroll Service do for me?

By John Dillard
What can a Payroll Service do for me? Payroll, tax and compliance services designed to simplify your business It's a challenge to keep up with filing deadlines and changing regulatory requirements. A payroll service can greatly assist you with this burden. They will calculate, file, deposit, and reconcile your payroll taxes. They will even respond to inquiries from taxing agencies, such as the I...
Feb 28,2009, 9:07AM | Email | Print | Share

Completing the Election by a Small Business Corporation for Form 2553

By John Dillard
Completing the Election by a Small Business Corporation for Form 2553 Beginning with the 2009 filing season for 2008 S Corporation Income Tax Returns, the IRS has just made the process easier for those who inadvertently the election late. For years the S Corporation Election, or Form 2553, was to be file within seventy five days of the first day or beginning of the tax year to which a electi...
Feb 27,2009, 7:52AM | Email | Print | Share

The Economic Effects of a National Sales Tax or Flat Tax

By John Dillard
The Economic Effects of a National Sales Tax or Flat Tax Touted as the great fix to the issues of the IRS, both the national sales tax and flat tax may cause many more problems that they attempt to resolve. There is a lot of confusion in both understanding and compliance with tax law. Unequivocally our tax system is fraught with layers upon layers of interpretations, case law, and frequent chan...
Feb 26,2009, 8:28AM | 2 comments | Email | Print | Share

How to Successfully Handle IRS Tax Assessments

By John Dillard
How to Successfully Handle IRS Tax Assessments If you have just gone out to the mailbox only to receive a IRS tax notice and gotten an assessment, don't fret yet. Many IRS assessments are by their very nature geared towards getting your attention and to create the highest based tax owed based only on what the IRS has to date. Accordingly frequently many of these original assessments can be quickly reduced or potentially even eliminated by giving to the IRS the needed information to complete and close their file.
Feb 25,2009, 10:27AM | 1 comments | Email | Print | Share

Understanding Your Rights as a Taxpayer & IRS Tax Liens

By John Dillard
Understanding Your Rights as a Taxpayer & IRS Tax Liens A Federal Tax Lien from the Internal Revenue Service is a public acknowledgment and formal security filing on a taxpayers assets. As a security interest, an IRS Tax Lien has to be addressed or satisfied before an asset can be sold. If, for example, there is a Federal Tax Lien on your home, you are required to first satisfy the tax lien b...
Feb 24,2009, 7:14AM | Email | Print | Share

Using IRS Installment Plans

By John Dillard
Using IRS Installment Plans When you are in the middle of addressing IRS tax issues and trying to evaluate between an Offer of Compromise or an Installment plan, frequently the options look bleak, as often they are. However there is good news for those who are desirous to look "outside the box" in looking to solve your IRS tax problems. Knowing the ins and outs of varying programs will do much to help you know what is in your best interest.
Feb 23,2009, 2:06PM | Email | Print | Share

Before You Start a Home Based Business

By John Dillard
Before You Start a Home Based Business Home based business's starts and success stories have soared over the years as the negative mystique of having a home based business has all but disappeared. With all of the advances of technology ranging from the Internet, laptops, e-mails, text messaging and cell phones you can now have a virtual office anywhere. In fact, the latest statistics revealed that as many as one-third of all of total active business's are now home based.
Feb 20,2009, 7:17AM | Email | Print | Share

Essential Components of Sound Business Planning

By John Dillard
Essential Components of Sound Business Planning Writing a business plan has long been a mystery to most of us and "down-right" confusing to the rest of us. Looking to remove the mystery from this daunting task is one of the most important goals we look to impart to the community. A solid business plan should essentially be an easy read with enough financial information to give it substance but more importantly a narrative that makes sense to all who read it. A good business plan should be:
Feb 19,2009, 12:03PM | Email | Print | Share

Individuals & Business Owners 2009 IRS Tax Filing Deadlines

By John Dillard
Individuals & Business Owners 2009 IRS Tax Filing Deadlines Below is a recap of IRS Tax Filing Deadlines for Business Owners and Individuals. You will want to refer here again and again to ensure that you do not run afoul of critical deadlines thereby avoiding unnecessary penalties and interest. Form 1040/Personal Income Tax Return is due on April 15th, 2009. If the deadline falls on a weeke...
Feb 17,2009, 12:12PM | Email | Print | Share

Writing Business Plan for Your Business, Church, or Ministry

By John Dillard
Writing Business Plan for Your Business, Church, or Ministry Writing a business should be the first step before you start your business. Reducing your ideas to writing will greatly assist you along the way as you develop and mature your thoughts and decision making. It is often in the process of writing the plan itself that your vision is strengthened and galvanized into you mission statement and...
Feb 15,2009, 11:53AM | Email | Print | Share

Being a Positive Agent for Change: How Positive Catalyst Can Change the World

By John Dillard
Being a Positive Agent for Change: How Positive Catalyst Can Change the World A catalyst is an event, substance or individual that when added to an environment or dynamic causes a disported reaction in terms of size, well in excess of what was originally added. One of the best examples of this is found in nature as a small amount of rolling snow can cause a avalanche. Though just a few ounces or ...
Feb 14,2009, 9:53AM | Email | Print | Share

Tax Deadline Ahead: S Corporation & C Corporation Returns are Due March 15, 2009

By John Dillard
Tax Deadline Ahead: S Corporation & C Corporation Returns are Due March 15, 2009 The 2009 Tax Deadline for filing of your 2008 Corporate Income Taxes is March 15, 2009. Therefore all calendar year corporations are due by that date. If for any reason you are not able to file your return by the due date both the IRS and state allows you to extend your return for six months. However don't let th...
Feb 13,2009, 3:43PM | 1 comments | Email | Print | Share

Church, Ministry and Business Financing

By John Dillard
Church, Ministry and Business Financing Helping to lift the veil of business, church and ministry financing is a key concern and goal for all those concerned in pursuing the furtherance and good news of Jesus Christ. Keeping these basis tenants in mind will do much to ensure the your business or ministry's success, and in so doing will enable the spiritual goals of it as well. These consideration...
Feb 11,2009, 3:04PM | Email | Print | Share

Incorporating: Understanding Differences Between an LLC vs. a LLP

By John Dillard
Choosing an Entity Type Which is Best for your New Business Venture It is often confusing for taxpayers to chose which entity type is best for their business when initially incorporating. This election is an all important first decision is critical to getting started off on the right foot. Understanding these differences and nuances will do much to give business owners and entrepreneur a "leg up"...
Feb 09,2009, 1:24PM | Email | Print | Share

Atlanta CPA on the Tax Effects of Entity Choice

By John Dillard
Atlanta CPA on the Tax Effects of Entity Choice Among the different ways of incorporating your business - C corporations, S corporations, and Limited Liability Corporations - there are practical reasons for choosing a given method, such as the number of shareholders or liability considerations. For many small businesses that are going to consider incorporating in Georgia, the tax advantage o...
Feb 03,2009, 4:01PM | Email | Print | Share

Georgia CPA on Evaluating Being an S Corporation vs. an Limited Liability Company/LLC

By John Dillard
 Georgia CPA on Evaluating Being an S Corporation vs. an Limited Liability Company/LLC -Choosing an Entity Type Which is Best for You and Your Business.  If you have just made the hardest decision of opting to go into business for yourself or if you have owned your own business for years, having a working knowledge of how your overall tax bill is determined can cost or save you thousan...
Feb 03,2009, 2:50PM | Email | Print | Share

Gwinnett CPA on Tips to Remember When Completing an S Corporation Return

By John Dillard
Gwinnett CPA on Tips to Remember When Completing an S Corporation Return Form 1120S: A Beginner's How to Guide Lifting the veil behind the confusion of tax returns is an important part of the relationship with your CPA. The more a business owner knows about preparing corporate income taxes the better suited they will be in providing what will be needed. The initial step, in any well-thought ou...
Jan 30,2009, 4:05PM | Email | Print | Share

Atlanta CPA Provides Checklist to Ensure the Accuracy of Your Business Internal Financials

By John Dillard
Atlanta CPA Provides Checklist to Ensure the Accuracy of Your Business Internal Financials Helping clients in Metro Atlanta help themselves is one of the key operating tenants in which we help serve the Business Community. This simple and straightforward checklist will do much to ensure that you have performed an internal "gut check" on your corporations internal data before your Corporate, LLC, S Corporation or LLP return is prepared.
Jan 30,2009, 3:39PM | Email | Print | Share

Author John Dillard CPA to Present at WNIV (Atlanta Christian Talk Radio) at Pastor's Educational Workshop Series

By John Dillard
  Author John Dillard CPA to Present at WNIV (Atlanta Christian Talk Radio) at Pastor's Educational Workshop Series WNIV, Atlanta Christian Talk, is set to begin their Pastor's Education Workshop Series. The series will be a quarterly workshop at will be held at the Petit Leadership Center next to "Walk Thru the Bible." The program will feature topics on Business Management for Ministry, Fi...
Jan 29,2009, 10:17AM | Email | Print | Share

Atlanta CPA on How to Use Professional Services

By John Dillard
Not Using a CPA can Often Cost Much More than a Professional Fee   Often Preparers who are not a CPA  and who have not been working as a full time CPA in the states may not have an understanding and nuances of tax law with some of them being potentially critical for you this and in future years. Although tax software has done much to make the preparation of corporate tax returns fa...
Jan 27,2009, 3:31PM | 1 comments | Email | Print | Share

Charleston Dawn...John Dillard's Christian Romance & Murder Mystery

By John Dillard
Christian Fiction Romance Charleston Dawn is set in the city of Charleston, South Carolina. The book is a murder mystery and relates to how its characters find God amidst real life issues. It speaks boldly about the Christian life and how God wants us to live. Combining Charleston's history about everything from homes to lighthouses, chase scenes, a hurricane and a tornado; Charleston Dawn keeps i...
Jan 27,2009, 1:24PM | Email | Print | Share

Overcoming Life's 9/11’s: Job's Journey...The First of John Dillard's the Inspiration Series

By John Dillard
Overcoming Life's 9/11's: Job's Journey God's Way of Overcoming Obstacles in Your Life The First Volume of John Dillard's Inspiration SeriesThe walk of a believer is often fraught with trials and tribulations leading to both defeat and victory. Life's tragedies, your personal 9/11's come into our lives seemingly in waves as we face obstacles, which both challenge our confidence and test our fai...
Jan 27,2009, 8:55AM | Email | Print | Share

Atlanta CPA on Financing Options for Funding Your Business

By John Dillard
In these troubling economic times being well armed is your best defense to ensuring that your business is well funded and ready for the future. Though a downturn in the economy can do much to create a stress on operating results, having the right financing already set up for your business will do much to help survive "tough financial times."  Conversely, constant care and due diligence should...
Jan 23,2009, 8:36AM | Email | Print | Share

Georgia CPA on Tax Issues Relative to Selling a Business

By John Dillard
Though you cannot change the facts you can we well informed about the tax implications of selling a business and how best to be prepared for the tax consequences of selling your business. These issues are presented in a checklist for you review and to make you aware of many of the options and different tax treatments to which they are afforded. As your facts may dramatically vary it is most advantageous to consider all of these variables and to consult with a tax professional well before the transaction is finalized to ensure that any documents you agree and sign to fairly and adequately protect your interests as well as your tax positions.
Jan 22,2009, 1:23PM | Email | Print | Share

HIS CPA - Bringing Christian Values to Accounting and Tax Preparation in Metro Atlanta & Beyond

By John Dillard
Atlanta accountant John Dillard CPA established a different kind of CPA firm - one that would bring the principles of Jesus Christ to the practice of Accounting.
Jan 22,2009, 10:27AM | Email | Print | Share

Atlanta CPA on LLC's, LLP's, and Partnerships...A Flow Through Entites Menu

By John Dillard
Limited Liability Corporations (LLCs), Limited Liability Partnerships (LLPs) and General Partnerships are all taxed in the same manner. Choosing one of these types as a business entity would be a poor selection for a business such as a distribution business, as they will all result in higher taxes with no additional advantages for the distributor.
Jan 19,2009, 1:05PM | Email | Print | Share

Atlanta CPA on S Corporations...Is the S Corporation Status Election the Best for Your Business

By John Dillard
There is no income tax paid by as S Corporation when the annual tax return is filed to the IRS. However, as a part of the corporate return which is prepared, a Form 1120S, there is an attached schedule which shows each owners respective ownership percentage and via a Form K-1 for which each shareholder should reflect on their personal return. K-1 profits, losses, and shareholder distributions are ...
Jan 19,2009, 12:59PM | Email | Print | Share

Atlanta CPA Teaches Business Mangement to Business Owners

By John Dillard
At His CPA PC we strive to do business the old fashioned way giving our clients much more than they thought they needed. In our ever changing economic times it is even more important to stay ahead of the power curve in addressing your business issues, trends, and tax planning. To that end we have dramatically improved our web-site.
Jan 15,2009, 12:45PM | Email | Print | Share

Atlanta CPA Teaches How to Prepae the S Corporation Income Tax Return

By John Dillard
Atlanta CPA Teaches How to Prepae the S Corporation Income Tax Return A Guide How to Guide to Prepare a K-1  Continuing to unlock the mystery of the practical aspects of preparing a Corporation Income Tax Return is critical to a business owner not only understanding the nuances of how the return works but also its tax consequences. In our past article we addressed the hypothetica...
Jan 15,2009, 12:43PM | Email | Print | Share

Atlanta CPA Teaches Corporate Tax Returns

By John Dillard
What Does a Christian Business Owner and CPA Interface with Corporate Tax Returns By first agreeing to submit to authority we are to honor the laws of our land. This means obeying our federal and state governments, our President, our elected and nominated officials, our police and all others who stand in the position of authority. Jesus did not say to obey those in authority when we felt like it,...
Jan 14,2009, 7:57AM | 1 comments | Email | Print | Share

Atlanta GA CPA Teaches How Christian Business Eithics Interface with Collection Issues

By John Dillard
I am often torn myself with what to do when it comes to collection issues in my business and how best I can help others to be able to avail themselves of my CPA firms services. To this end I continually strive to work with clients rather than against them to help resolve collection and billing issues. To this end I believe that:
Jan 13,2009, 2:30PM | Email | Print | Share

Christian CPA Teaches Tax Management for Business Owners

By John Dillard
For the savvy business owner there is much to be gained as there are recaps of payroll forms and how they are utilized, clarification of how to properly classify workers as either independent contractors vs. employees, and a checklist on how to come a new employer in Georgia. For those who have run afoul of the IRS and are dealing with tax issues, there are words of wisdom to successfully res...
Jan 12,2009, 1:47PM | Email | Print | Share

Duluth GA CPA Starts Christian Business Men's

By John Dillard
I could think of no better day to announce the kick-off meeting of our Christian Business Men's Group. I am open to God's leading but believe I am interested in forming a group that perhaps is a bit unique in Christian circles and one that focuses on several key areas of growth:-Serving as Jesus Feet in the Workplace by witnessing, action, and example.-Serving as Godly examples in our personal liv...
Jan 12,2009, 1:28PM | Email | Print | Share

Atlanta CPA Teaches Business Ethics

By John Dillard
Well first of all he looks like the rest of us as we are all made in God's image, but that is where the similarities stop and the differences begin. A Christian business owner is someone who always has his "A Game" on striving to serve each and every client as an individual and not a number. A Christian entrepreneur is one who looks to bring his faith along with him/her in action, thought, word an...
Jan 12,2009, 1:17PM | Email | Print | Share
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