Posted 12/27/13 at 10:27 AM | John Dillard
How Do I Determine my Salary from my Small Business?
The Internal Revenue Code establishes that any officer of a corporation, including S corporations, is an employee of the corporation for federal employment tax purposes. S corporations should not attempt to avoid paying employment taxes by having their officers treat their compensation as cash distributions, payments of personal expenses, and/or loans rather than as wages and tax law requires that S Corporation Owners/those which file an IRS Form 1120S, the corporate tax form for an S Corporation. The below is a sample letter we might send to a client to guide them during this process:
Posted 12/27/13 at 10:20 AM | John Dillard
Atlanta CPA...The Danger of Abusive Tax Schemes
What you don't know will hurt you. As a part of IRS tax law since I have been a CPA (over 32 years) there has been a long standing tenant:
• Tax schemes to solely avoiding paying tax law are illegal.
• If there is not a valid business purpose inherent in a transaction, the attendant tax issues are illegal.
Not following these two simple rules can gain you notoriety in a lot of places that you might not want to be including:
• An IRS tax audit.
• Underpayment & Late Penalties.
• Tax Court.
Posted 12/26/13 at 3:33 PM | John Dillard
Five Tips to Help Business Owners on Business Loan Procurement
Suwanee/Duluth/Lawrenceville CPA: Advises America's Business Owners on Business Loan Procurement
These basic tenants will do much to help you get a business loan and to avoid rejection stopping you dead in your tracks. Being ready to receive the money is essential to a bank's willingness to give a loan to your business. Be sure you are prepared before you go to a bank.
5 Tips to Getting a Business Loan
Posted 12/23/13 at 12:30 PM | John Dillard
Suwanee/Duluth/Lawrenceville CPA; 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 understanding we are most apt to fail. As a Duluth CPA Serving Gwinnettt County, Atlanta & Beyond I know I would never tell a client how to "do their business," adding financial and operational perspective from someone who "has been there and done that" will do much to lighten you load while assisting in making strategic operational decisions ranging from:
Posted 12/19/13 at 12:06 AM | Sylvie Simms
Little is more imperative to your personal and professional success than writing with excellent spelling and grammar. From critical first impressions to important ongoing relationships, not only what you write but also how you write it can make all the difference. It can determine how people view you or the organization you represent, and it can solve or create problems, sometimes with the change of only a single letter.
Knowing how to spell correctly is vital to your professional image. One simple spelling error in an email to a client or a note for a co-worker can cause others to doubt your knowledge and abilities. Basic grammar and spelling skills are expected in any job. If you demonstrate the improper use of a word or continually leave misspelled words in a report, you are likely to be passed over for a promotion or a major project.
Misspellings can also lead to horrible miscommunication. If you misspell some common words, such as “six” and “sex,” you run the risk that others will misinterpret your meaning. This could lead to something not getting done or to someone being offended by your words.
To maintain positive relationships with acquaintances and co-workers, you need to check your spelling carefully on anything you write. Always read over something you’ve written. If you’re unsure if you have used the right spelling, refer to a dictionary or professional editor or proofreader. FULL POST
Posted 12/18/13 at 2:40 PM | Brian Wallace
Billions of dollars are spent every year in an effort for companies to outsource some of their work. Finance, accounting, IT and HR are just a few of the jobs which go to third-party companies. What kind of risk does sharing information with outside companies pose to business? In this infographic, Veracode takes a look at the world of software security.
Posted 12/18/13 at 10:56 AM | John Dillard
Suwanee/Duluth/Lawrenceville CPA: 2013 is Almost Over and Taxes for Uncle Sam are Just Around the Corner
Top Five Tips to Being Ready to Prepare Your Income Taxes
Though the initial filing date of your corporate taxes is March 15th and your personal return April 15th it is time NOW to get ready. Being sure you pay ONLY your lowest legal tax begins with good record keeping. Spend some time this week being sure you are ready to file your 2013 income taxes and to have them prepared correctly.
Posted 12/18/13 at 12:55 AM | Sylvie Simms
Dissatisfied employees can cost a business more than just money. It is up to the management to figure out what is causing employees to become dissatisfied and to plan a way to make the employees become more actively engaged. An actively engaged staff will create a more open and safe work environment, making it easier to work efficiently on different projects and tasks.
Actively pursuing employee engagement can result in a more productive staff. This is important for any business since engaged employees are more likely to produce high quality work. Energetically engaged employees that come into contact with customers are also more likely to be motivated to go above and beyond when it comes to helping the company build a better reputation amongst clientele.
Encouraging and pursuing employee engagement can also inspire staff members to be more creative and innovative. This is important for any business as it can lead to new and improved ideas and projects. The more creativity used to satisfy a customer or client, the more likely it will be that the client develops an ongoing relationship with the company.
Additionally, employees are more satisfied with their positions if they are being actively engaged. This assists in creating a positive work environment for all staff members, which in turn can help improve employee retention. A company which has satisfied and engaged employees usually has a lower turnover rate, creating a family-like atmosphere that inspires loyalty and commitment. FULL POST
Posted 12/17/13 at 11:15 PM | Sylvie Simms
Everyone gets older and ages. There is no stopping the aging process, and inevitably wrinkles will develop and sagging will occur. Although you cannot stop the aging process, there are ways to slow it down and develop youthful, beautiful skin.
What Causes Aging?
Aging of the skin is best explained through the 3 D’s: Descent, deflation and dehydration. Factors such as age, sun, smoking and weight loss can all cause the tissue to begin sagging. This causes the skin to lose its look of firmness and can add years to the face. Deflation can also cause a person’s skin to age. The skin changes over the years and can lead to a loss in volume, especially around the eyes, mouth and jowls. Dehydration also plays a major role in aging. Hormone levels tend to subside as a person gets older, causing the skin to secrete less natural oils. This problem can be expounded by sun exposure, smoking and stress.
Prevent Aging For A Better You
Although you will get older over the years, that doesn’t mean you need to look your age! There are many things you can do at home to help prevent the look of aging. Since the sun can cause your skin to become dehydrated and can increase sagging, it is best to limit your exposure to the sun. If it is necessary for you to be in the sun for an extended period of time, be sure to use some type of SPF with moisturizer to protect your skin. To help restore damaged, sagging or wrinkled skin, consider some noninvasive cosmetic procedures which will return your skin to a more youthful appearance. Chemical peels, tissue fillers and microdermabrasion are just a few to name which have helped countless Americans look and feel better. FULL POST
Posted 12/17/13 at 9:50 AM | John Dillard
Suwanee/Duluth/Lawrenceville CPA: How to Find a Bookkeeping Service
First make sure you find a CPA who offers a comprehensive accounting and bookkeeping service tailored to your company's specific needs that also provides personal and corporate income tax return preparation while serving as a virtual addition to you company's internal accounting personnel.
Work with a CPA who believes your needs and questions are important and that timely responses to your everyday accounting issues/questions in addition to preparation of financial statements for your business are essential.