“John [Dillard] is an excellent CPA that I worked with in my professional career. He has been working with me for the last ten years, helping me incorporate my business entity, and finding trusted advisers/agents to help with my payroll, insurance needs, and yearly corporate/personal tax fillings. I am always amazed by his ability to prepare corporate/personal income tax filing by compiling a trove of records and communicating promptly within a short time.
Besides, he is a very dependable and genuine adviser when navigating complex tax issues or understanding IRS/Tax laws. I highly recommend John to any small business owners or entrepreneurs needing help with accounting needs, corporate or individual tax prep, and filling.”
https://www.hiscpa.com/wp-content/uploads/2022/07/atlanta-884134__180.jpg180512John Dillardhttps://www.hiscpa.com/wp-content/uploads/2019/11/Logo-June-2019-1-300x110.jpgJohn Dillard2022-07-06 18:18:212022-07-06 18:22:18John [Dillard] is an excellent CPA that I worked with in my professional career.
“’Genuine Expert’ is the phrase that pops into my mind when I think about John. I have known John for many years both personally and professionally and consider him one the best partners that I’ve had the pleasure of working with. During my career I’ve rarely came across a real professional with his integrity and principles. John has earned my highest recommendation!”
https://www.hiscpa.com/wp-content/uploads/2022/06/atlanta-202190__180.jpg180240John Dillardhttps://www.hiscpa.com/wp-content/uploads/2019/11/Logo-June-2019-1-300x110.jpgJohn Dillard2022-06-23 17:51:452022-06-23 17:51:47“’Genuine Expert’ is the phrase that pops into my mind when I think about John."
I highly recommend John Dillard for CPA work. I highly recommend John Dillard for CPA work. I have known John for over 15 years, and got to know him through our church mission trips. I started using John 6 years ago for my own business, after a wrote my business exit plan and realized I needed some tax counsel. He met with my personal financial advisor and I together, to make sure we were all on the same page. Early on John made several astute observations, like recommending that I raise my labor rates that proved to be immensely beneficial. John has done both my corporate and personal tax preparations since then. I continue to be amazed at his quick responses and thoughtful answers to my questions. Admittedly, I must read his responses multiple times to gleam the wisdom he provides. This year he again drilled down into my business financials and recommended that I change the metrics used to measure success. I soon realized he had again provided substantially impactful counsel.
-Eddie Landry @ Landry Luxury Luxury Electronics
https://www.hiscpa.com/wp-content/uploads/2022/06/atlanta-1386031__180.jpg180320John Dillardhttps://www.hiscpa.com/wp-content/uploads/2019/11/Logo-June-2019-1-300x110.jpgJohn Dillard2022-06-21 20:34:162022-06-21 20:35:58I highly recommend John Dillard for CPA work.
Be Sure You CPA Works as Hard as You Do Towards Your Business Success
https://www.hiscpa.com/wp-content/uploads/2020/09/atlanta-1386031__180.jpg180320John Dillardhttps://www.hiscpa.com/wp-content/uploads/2019/11/Logo-June-2019-1-300x110.jpgJohn Dillard2022-02-03 20:07:562022-02-03 20:08:54In 2021 We Helped Our Clients Manage Over 135 Million in Cash Flow.
Our business model allows us to “stay lean” offering high standards of service in results and turnaround times alike, allowing streamlining of services from our partner John Dillard CPA, at very competitive rates. As my client, you will feel like you are more than just a number as we seek to provide service that seeks to constantly exceed your expectations. We seek to bring to your business Virtual CFO/CPA services, operational efficiencies, business wisdom and insight spanning three decades of commitment. Though we promise ten day turnaround on all of our work you will find our actual performance to be well-ahead of those seeking to offer competitive services.
“Though you may only be a client for years, we seek that you become a friend for life.” -John Dillard CPA, President of His CPA
https://www.hiscpa.com/wp-content/uploads/2019/12/IMG_6750-Copy-scaled.jpg17072560John Dillardhttps://www.hiscpa.com/wp-content/uploads/2019/11/Logo-June-2019-1-300x110.jpgJohn Dillard2020-10-03 14:40:532020-10-03 14:42:52Though only be a client for years, we seek you become a friend for life.
Hopefully you are having a good year in spite of the Pandemic!!!!!!!!
Please be reminded to obtain Forgiveness for a PPP loan you have to request it from the bank where you received the loan from. I understand SBA is still working on some of the Forgiveness criteria and I have not heard of but one bank (a smaller regional) that has actually opened the forgiveness application process.
I bank with Wells Fargo and from last I heard they have not yet begun application process. It is my understanding that until you get a letter confirming monies are forgiven they are still owed.
If you want help with the application just let me know and send me a copy of the initial PPP loan agreement from the bank and a draft of your application and before its submission to the bank.
It remains my understanding many/most banks will require you to submit your application using their form and they will send you a link to on their web site. Be sure to stay posted with your bank/me/the news on the process.
At present it is my understanding present law will require once any PPP monies are forgiven business owners are not going to be allowed a tax deduction for the PPP monies used for covered expenses when/if they are forgiven. There has been talk in Congress on changing this but at this time best to do your 2020 tax planning on the basis of present tax law.
Attached is a link to an article detailing PPP Rule Refinements & SBA Issues New EZ Forgiveness Application.
Some of the highlights of recent changes to the PPP Program as I understand them are:
You may elect to report either under the original 8 week or an extended 24 week reporting period if you received your PPP loan prior to June 5.
Under 8 week reporting maximum salary which can be forgiven is $15,385 (100K annual salary divided by 52 weeks a year times 8 week reporting period).
Under 24 week reporting maximum salary which can be forgiven for an owner is $20,833 and for other employees $46,154 (100K annual salary divided by 52 weeks a year times 24 week reporting period). Loans June 5 or later are required to use the 24 week reporting period.
Owners Medical Insurance paid by the company is not able to forgiven.
Payroll costs (including salaries, state unemployment & portion of medical insurance paid for by company) were originally required to be 75% of total forgiveness amount. Rate is now reduced to 60% (Called the Payroll Cost Rule).
PPP loans after June 5 are no set to repay any unforgiven amounts over five years. Loans prior to that date are two years. Interest rate remains at 1%.
Business owners can apply for forgiveness anytime they are ready and if qualify under salaries and FTE safe harbors (do not have to wait until December 31 to submit your application).
You can use the EZ PPP Forgiveness Application if any of the three items below apply:
Self Employed with no employees or S Corporation with yourself as sole employee.
You had employees but did not reduce salaries/wages during the covered period by more than 25% and did not reduce the number of hours worked by employees.
You had employees but did not reduce salaries/wages during the covered period by more than 25% and due to sheltering in place not able to operate at same level of business that existed before February 15, 2020.
Be safe!
https://www.entrepreneur.com/amphtml/352104
https://www.hiscpa.com/wp-content/uploads/2020/06/bottle-1470589__180.jpg180243John Dillardhttps://www.hiscpa.com/wp-content/uploads/2019/11/Logo-June-2019-1-300x110.jpgJohn Dillard2020-06-22 19:11:442020-06-22 19:14:22PPP Rule Refinements & SBA Issues New EZ Forgiveness Application.
https://www.hiscpa.com/wp-content/uploads/2017/11/Uncle.png215224John Dillardhttps://www.hiscpa.com/wp-content/uploads/2019/11/Logo-June-2019-1-300x110.jpgJohn Dillard2020-04-15 20:14:352020-04-15 20:16:51Getting Your Stimulus Monies from the IRS
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, is designed to encourage Eligible Employers to keep employees on their payroll, despite experiencing economic hardship related to COVID-19, with an employee retention tax credit (Employee Retention Credit).
The Families First Coronavirus Relief Act (FFCRA) requires certain employers to pay sick or family leave wages to employees who are unable to work or telework due to certain circumstances related to COVID-19. Employers are entitled to a refundable tax credit for the required leave paid, up to specified limits. [See FAQs]. The same wages cannot be counted for both credits.
Entities that take out loan under the Paycheck Protection Program are not eligible for this credit.
Calculation of the credit is 50% of qualified wages between 3-12-2020 through the end of 2020 with wages capped @10K per quarter/per employee creating a $5K per employee maximum credit. For more information and to see if your business might qualify see https://www.irs.gov/newsroom/faqs-employee-retention-credit-under-the-cares-act
https://www.hiscpa.com/wp-content/uploads/2019/12/38-Copy-Copy-Copy.jpg160182John Dillardhttps://www.hiscpa.com/wp-content/uploads/2019/11/Logo-June-2019-1-300x110.jpgJohn Dillard2020-04-01 15:58:142020-04-01 15:58:21The Florida Small Business Emergency Bridge Loan Program
