Posted 4/29/10 at 11:26 AM | John Dillard
Atlanta CPA on Bean Counting 101
Most frequently we are asked to assist business owners with tax planning, preparing corporate and personal income taxes, tax planning, financial statements, IRS Representation, Back Taxes & Offer in Compromise. However there is much more that a well seasoned and experienced CPA can do, especially one who has run as a Chief Financial Officer/Chief Operating Officer for companies with revenues in the tens of millions.
Bean Counting 101: Top 10 Things You Might Not Know Your CPA Can Do
Posted 4/28/10 at 1:28 PM | John Dillard
Atlanta CPA How to Avoid the Top Five Mistakes Business Owners/Entrepreneurs Make
What You Don't Know Can Hurt You: Avoid Unnecessary Financial Setbacks
Many business owners plough head on for disaster because they fail to prepare, which is then in essence, preparing to fail. These issues are ones that through the decades of having been a CPA that we see repeated over and over again. Being aware of these and taking the necessary steps to avoid them will do much to gain a financial advantage over your competitors and those who do not. This is a list you will want to refer to again and again to check yourself and to ensure that you remain on a path that will help your opportunity for success.
1 John 5:14 This is the confidence we have in approaching God: that if we ask anything according to his will, he hears us.
Posted 4/27/10 at 12:06 PM | John Dillard
Atlanta CPA Challenges Believers to Act: Here's is My Fundraising Idea for Missions...What's Yours???
To help out and to raise monies for our trip... 100% of the first three new customers tax returns who respond to this ad (up to $500 per return) will go to Navajo Family Missions.
Feel free to forward this to all people to whom you might think will be able to help us raise money for our trip.
John 15:13 Greater love has no one than this, that he lay down his life for his friends.
Posted 4/26/10 at 1:31 PM | John Dillard
Atlanta CPA Advises America Business Owners on Understanding Nuances of Cash vs. Accrual Financial Statements
Using a computerized accounting package which has a balance sheet and profit and loss capability is a great start to being able to track your business transactions accurately and efficiently. Generally speaking for many small businesses QuickBooks is good system and often has much more capability than you will ever need. However this program is not a universal fit for everyone and you should take care to carefully evaluate your needs to ensure that you select a system which will work for you long term. Special consideration, for example, should be given if you need a POS/Point of Sale System, detailed inventory costing/tracking/and valuation, or if your business will require a multiple user system.
Being an expert at running your business does not make you one at the responsibility of accounting for your business. By applying our decades of experience we are well suited to guide you to track the financial and operational affairs of your business. Understanding the differences in the usability of financial statements prepared on a cash versus and accrual basis will do much to help your America Business have up to date and useful financial information. Below is a sample inquiry we might receive from a client regarding their internal financial statements/tax returns, that were prepared on a cash basis. FULL POST
Posted 4/25/10 at 9:45 AM | John Dillard
Believers to Continue Meeting to Encourage Others in Their Faith
Below is s sample inquiry we might receive off of our web site. The words speak for themselves:
Wow! You are exactly what I think we have been praying for. My husband's passion to serve our Awesome God in his work is such, that is hard to describe into words. He began a weekly prayer group at his last company which quickly dissolved into just himself and the President, but they have been meeting off site now for almost 4 years. I am certain that he would be honored to not only meet you and the group, but to help you do anything he possibly can to add members to it!
As a "newer" Christian of 7 years, working currently for an almost completely non-Believing company, He is finding mentorship, fellowship and guidance to be completely absent from his life...Thank you so very much for responding to me. You are so wonderful to have taken this time at all and if I do not hear back from you, I hope you have a wonderful, blessed and beautiful Journey! May God bless you today and every day after!
Posted 4/24/10 at 7:09 PM | John Dillard
Jesus is Coming Soon...Taking Christianity Into the World
I am reminded of the movie where the words are spoken that echo from Proverbs 24:27 where God calls for us to "ready our fields."
This year God has placed in each of our hands the hearts and minds of 90 Missionaries to pray and to watch over. I pray that God leads you in ways you never imagined to lead others into a Redeeming Meeting with our Savior, for it is that reason alone that I go.
Posted 4/24/10 at 8:26 AM | John Dillard
Christian CPA Encourages You to Change The World...One Law & One Life at a Time
In the Fall of December 2004, I had occasion to meet with someone who worked in the District Attorney's Office in California. She advised that California had a law on the books for about seven years that required the perpetrators of serious crimes against children, such as molestation, to pay for the victim's medical and counseling care. By the end of the week of that meeting God asked me to take this issue to the state of Georgia as our state, at that time, had nothing to protect our Georgia children. God crystallized what I was supposed to do and in a desire to be obedient I set about to accomplish what He had asked me to do, "to make this a Georgia law."
Within a week of God telling me to march, I was able to obtain a meeting with GA Senator Renee Unterman, a woman who like myself had a heart for those who could not protect themselves. Within sixty days the proposed law and I were in front of the most influential committee in either GA House, the Senate Judiciary Committee who quickly unanimously agreed to its passage. From there the bill went to the Senate Floor where it also passed 47-1. Our next stop was the GA House where unfortunately the law got stuck. I guess God did not want the law passed in 2004. During this time and since I continually contacted and lobbied the Governor Perdue's Office and I thought that those contacts were falling on deaf ears. Boy was I soon to be surprised.
To begin the 2005 Legislative Session, Governor Perdue sponsored the Crime Victim Restitutions Act of 2005, which set up a procedure for notification, and reimbursement of the victim's medical and counseling expenses. 86% of the Georgia legislature voted in favor of the bill and then the Governor signed it on April 11 and it will become law on July 1, 2005.
Posted 4/20/10 at 9:22 PM | John Dillard
Atlanta CPA Teaches Taxpayers How to Address Unpaid Income Taxes/Back Taxes
The below is a recent sample inquiry we might receive off of our web site:
I recently got a letter from the IRS saying that I owe tens of thousands of dollars in back taxes . I remembered that I worked a job that that was a From 1099/Independent Contractor but forgot to pay for the taxes back for 2006 to 2009. I would like to know if its possible to pay for this in a monthly payment and maybe try to get the payment lowered. reason will I picked you guys is because your faith in our Lord Jesus. I am a Christan and have made Christ the Lord of my life. I would like to talk to you guys on the phone. Call me at any time.
Posted 4/20/10 at 11:06 AM | John Dillard
Christian CPA Encourages Business Owners to find a CPA Who Works For You
Keep Your Tax Bill As Low as Legally Possible: Only You Can Prevent Undue Tax Burdens
If you are a new business owner/entrepreneur you will want to work with a CPA who cares more about the world than his business. Although attentiveness to your needs and responsiveness to you are critical to your success, our work lives are not how we are all going to be remembered. Is your CPA regularly involved in giving back to the community, do they have an active local or overseas ministry that they actually participate in and support? Do they help the elderly or oppressed in the community, are they involved in the local PTA are they centrally involved in striving to make this world a better place for us all?
As you make a decision for your business's CPA, you make one not only for yourself but those who are depending on you as well. These people include not only your family but also the family of your employees as your business and your own financial success depend on it. Below is a sample letter might we might use to keep clients aware of tax law and to ensure that their taxes are properly prepared and that their lowest legal possible tax was paid:
Posted 4/19/10 at 12:26 PM | John Dillard
Atlanta CPA on Understanding/Utilizing the Earned Income Credit to Lower Your Personal Income Tax
Keep Your Tax Bill As Low as Legally Possible: Only You Can Prevent Undue Tax Burdens
The earned income credit (EIC) is a tax credit for those who work and have earned income/Adjusted Gross Income (AGI) less than $48,279. Tax Credits usually means less tax owed/more money in your pocket. It mitigates the amount of tax you owe. The EIC may also generate a refund.