POST PUBLISHED INAugust, 2009
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  • Tips for Dealing with a Frozen or Reduced HELOC

    August 31st, 200908:34 AM ET
    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 c...

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

    August 29th, 200908:16 AM ET
    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 accep...

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

    August 28th, 200907:37 AM ET
    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 ...

  • Tax Tips for Homeowners

    August 27th, 200908:19 AM ET
    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 way...

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

    August 26th, 200907:50 AM ET
    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...

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

    August 25th, 200907:25 AM ET
    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 b...

  • The Entrepreneurial Process: Starting at the Top

    August 24th, 200908:35 AM ET
    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 base...

  • Utilizing Like-Kind Exchanges as an Investment Vehicle

    August 23rd, 200911:51 AM ET
    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 p...

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

    August 22nd, 200910:14 AM ET
    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 metho...

  • Selling Your Entrepreneurial Business While Maximizing Value

    August 21st, 200908:07 AM ET
    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 ...

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

    August 20th, 200907:50 AM ET
    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 t...

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

    August 19th, 200901:53 PM ET
    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...

  • Christian Business Men's Group Started by Atlanta/Gwinnett CPA

    August 18th, 200901:04 PM ET
    By John Dillard
    Christian Business Men's GroupYou Are Uniquely Chosen. God Designed You for a Higher Purpose. God Made You to Worship and Glorify Him. Starting next Tuesday and every week thereafter your fellow brothers in Christ will be meeting to Grow, Worship and Serve together.We will meet weekly on Tuesdays at 8 a.m. at the Rexall Drugstore Restaurant on Buf...

  • Understanding Back Taxes, IRS Tax Liens and Assessed Income Taxes

    August 17th, 200907:59 AM ET
    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 u...

  • CPA Helping Taxpayers Address Atlanta Back Taxes and IRS Representation Issues for Decades

    August 16th, 200901:54 PM ET
    By John Dillard
    CPA Helping Taxpayers Address Back Taxes and IRS Representation Issues for Decades When forwarding correspondence to either the IRS or the state of Georgia it would be concise, considered and intended for a purposes. Below is a sample letter one might use to request that no collection efforts be made will an Installment Plan is established. ...

  • Business Exit Strategies in a Down Economy

    August 14th, 200908:00 AM ET
    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 busin...

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

    August 13th, 200908:32 AM ET
    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...

  • Duluth CPA on Back Taxes 101...Helping Taxpayers File Back Tax Returns for Decades

    August 12th, 200908:05 AM ET
    By John Dillard
    Duluth CPA on 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. Th...

  • Identity Theft 101

    August 11th, 200910:02 AM ET
    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 conducte...

  • Addressing IRS Back Taxes During IRS Tax Audits

    August 10th, 200908:02 AM ET
    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 you...

  • Addressing Unpaid/Unfiled Back Taxes

    August 09th, 200911:52 AM ET
    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 ...

  • Tax Posturing When Submitting an Offer in Compromise

    August 07th, 200907:54 AM ET
    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 ide...

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

    August 06th, 200910:30 AM ET
    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...

  • Preparing for and Surviving an IRS Audit

    August 05th, 200907:53 AM ET
    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 i...

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

    August 04th, 200903:46 PM ET
    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 th...

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

    August 03rd, 200911:47 AM ET
    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 (i...

  • Internal Revenue Service Tax Advocate Office

    August 02nd, 200909:13 PM ET
    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 wh...
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About this blog
John Dillard, an author and Certified Public Accountant, serves HIM by serving you with his expertise in this blog... one tax return at a time!
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  • John Dillard is an author and Certified Public Accountant. To See how he takes Christ along with him to work visit www.HisCPA.com