Atlanta CPA...Be Sure Your Personal Return is Filed Showing Your Lowest Legal Possible Tax
Staying away from the most common pitfalls taxpayers make is critical to your personal financial success. Careful discernment and wise application of tax law is an essential and critical part of avoiding otherwise avoidable IRS notices, penalties, responsibilities, IRS audits and amendment of prepared returns. As a Body of Believers, we are commanded to submit to authority and to give unto Caesar what is Caesar's. As such and based on the premise of the U.S. tax system, we as taxpayers are solely responsible for the initial filing of our returns and the fair and just filing of our lowest legal possible tax. Avoiding these top pitfalls that many fall prey to will be an integral step in the proper preparation of your return. The below is a sample letter we might send to a client to help them in ensuring that only their lowest legal possible tax is paid:
To complete your personal income tax return/IRS Form 1040 I need:
Did you have any independent contractor income. If so please use the form at http://www.hiscpa.com/recap.pdf to recap the amounts and expense by category. I noted on your 2010 personal income tax return that you had independent contractor income of $15K.
Please forward to me what you paid on property taxes on your vehicles/cars.
For the below items that you recapped in the personal return data please turn in an expense report to get reimbursed from your business including any CPA fees you might have paid personally, any business expenses that at present are still un-reimbursed. Please be sure to also turn in an expense report for your two life insurances and your long term care premium.
In the future I would suggest being sure to pay directly out of the business all of your CPA fees, your two life insurances and your long term care premiums and all business expenses.
ASAP after I get the rest of the data I will compete the returns and mail them out your way.
John Dillard, CPA of His CPA, PC A Duluth/Suwanee/Alpharetta CPA Firm www.HisCPA.com A Christian CPA Firm