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Serving God by Serving You…One Tax Return at a Time = “Friends for Life”

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Serving God by Serving You…One Tax Return at a Time = “Friends for Life”

This has been a watchword for us since Day 1 when God called my www.HisCPA.com to be an EVEN brighter light for the Kingdom!

Whether we are doing personal or corporate income tax returns, assisting clients with their bookkeeping or internal financial statements for serving as a Virtual CFO/CPA we seek to put God 1st!

Does this mean we never make mistakes? Of course not, but it is our goal to be perfect in our work for it is much easier seek perfection at work than in our own personal lives.

At www.HisCPA.com you are much more than a client for many and indeed most all are now “Friends for Life.”

Georgia Tax Law Changes for Georgia Business Taxpayers & Entrepreneurs

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Georgia Tax Law Changes for Georgia Business Taxpayers & Entrepreneurs

Georgia Governor Nathan Deal signed House Bill 918 reflecting changes in Georgia law to reflect IRS Tax law updates. Some of the more significant changes affecting Georgia Business Owners & Entrepreneurs are:

Effective January 1, 2019 Georgia reduced the personal and corporate tax rates to 5.75%.

Georgia did not adopt the 20% qualified business income deduction that was included in the Tax Cuts and Jobs Act/TCJA giving business owners and entrepreneurs a 20% deduction of their K-1 business income on their federal return. This was passed by the IRS for business owners to bridge the gap between reduced corporate tax rates and those for individuals.

Georgia also doubled the standard deduction for all individual taxpayers to $6,000 for married tax payers filing jointly/$3,000 for married taxpayers filing separately and to $4,600 for single tax payers.

Stay abreast for more tax news as it affects each and every one of our pockets!

“The best time to hire www.HisCPA.com was 20 years ago. The second best time is now”

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“The best time to hire www.HisCPA.com was 20 years ago.
The second best time is now”
-John Dillard CPA

“The best time to plant a tree was 20 years ago.
The second best time is now.”
-Chinese Proverb

The New Tax Act Has LOTS in Store for Many Including…

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The New Tax Act Has LOTS in Store for Many Including…

Tax bracket reductions for individuals, S Corporations, LLC’s & C Corporations

I recommend all taxpayers do tax planning for 2018 as soon as they complete their 2017 tax returns.

Some of the major changes for individual taxpayers include no more exemptions, increased standard deductions and limits on deductability of state income taxes and property taxes.

 

Some of the major changes for business owners who have flow through entities (S Corporations and LLC’s) include  deduction for the net income portion of your business profit as listed on the K-1 if you qualify based upon your income levels and your industry type.

Be sure you get every legal deduction; after all it is yours!