Income Tax Preparation Organization Tips

Keep your sanity!
Hire an Atlanta
Income Tax
Professional

Even if you have someone taking care of your tax preparations for you, there are things that you can to do to ensure that the process will be as smooth as possible.

Here are a few tips for residents of Georgia. Income tax preparation will be a cinch with these simple organizing techniques.

• Start early – Tax prepares continue to get busier as April 15th draws closer. You can expedite the whole process of getting your taxes completed by having your paperwork together early. See your tax preparer in February or early March when their hair hasn't started getting grayer by the day yet. You will get the best quality work when your preparers mind isn't on the pile of paperwork they have to get to after they are done with yours.
• Necessary Information – Numbers like Social Security numbers and Tax Payer ID numbers are essential. Make sure to have these compiled, so you won't have to scrounge around for them when your tax preparer asks you for them.
• Folders – If you show up with a shoe box full of receipts, your tax preparer will not be happy. They may not even want to do your taxes for you. If they do, you definitely won't get a good price. If you show up with a folder with multiple pockets, and everything divided into its own category, you are sure to get prompt service at a reasonable price. It only takes a few minutes for you to sort everything, since it is your paperwork. It's a much bigger ordeal for the preparer, and they will want to be well paid for the extra effort.
• Prior Taxes – Don't forget to include a copy of last years tax forms. These can help your preparer to get things done even more quickly by giving them a basis to start with. It will also help them to give you a better estimate of how much your tax prep will cost this year.

If you follow these few simple steps, you will be making your tax preparation process much smoother. 

Your tax preparer will appreciate it, and so will your wallet and your sanity.

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• Payroll Taxes and Your Business
• Helpful Payroll Related Articles
• Visit the Internal Revenue Service's Website
• Contact GBC Income Tax Services Today! 

Questions for Residents of Atlanta, GA : Income Tax Preparation Essentials

Choose an Atlanta Certified
Public Accountant for your
Income Tax needs.

Obviously, if you are seeking help on your taxes, you want to be sure that the person who is helping you knows what they are doing. First of all, you are paying them and probably a decent fee. Secondly, you want the peace of mind that comes from knowing your taxes have been prepared correctly.

Yes, for residents of Atlanta, GA, income tax preparation help may be available in abundance, but these are the questions you can arm yourself with to ensure that will get the help you need. 

Here are 6 topics to discuss before you chose your preparer.

• Tax ID Number – A real tax preparer will have one and will not be offended that you asked. It shows you are in the know, since all tax preparers who charge for their services must have such a number.
• Training/Experience – What makes this particular preparer well qualified to take care of your taxes? There are exams on both the state and federal level for tax preparers. Make sure yours has passed them and is up to date. You should also look for someone with a good amount of experience, including experience in many types of tax situations and issues that could arise. Is the preparer continuing to seek out education to stay up to date on the ever changing tax laws?
• E-Filing – You are trying to make the process of filing your taxes as painless as possible. Using a preparer who can file your taxes electronically takes yet one more step out of the process and reduces the chance of mistakes. If you are getting a refund, this will expedite that process.
• Estimate – How much is this going to cost you? There may be some things that come up in the preparation process that were not discussed beforehand, but in general the preparer should have a pretty good idea of what the final price will be based off of what you tell them about your taxes. If you are expecting a big refund, don't let the preparer convince you to let them have a cut. Make them set a fee.
• What if you get audited? - If your paid preparer is a CPA or an EA then they should be able to help you in case the IRS decides to audit you. You won't get the same service from a tax preparation chain. They can give you advice that may be of assistance, but they cannot represent you. So if you get your taxes done at a chain and then get audited, you will have to hire someone else to help you anyway.

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READ MORE

• GBC Tax Income Atlanta Office
• Commonly Used Tax Forms
• Contact GBC Income Tax Services Today! 
• GBC Management Team

Income Tax Preparation Should Be Left to the Pros - Atlanta Payroll Services by GBC Services

Let GBC Services, Inc.
File Your Taxes Electronically

If you find filling out your income taxes is a daunting task, you are by no means alone.

There are plenty of local places in Atlanta, GA income tax preparation can be performed at. You just need to find the one that works for you--call GBC. 

This is the bane of many a worker's year. But it doesn't have to be a miserable experience. Having the right people to help you can make a world of difference when it comes to taxes.


Make sure they can file your taxes electronically, so there is little for you to do. Also, check on the abilities of the paid preparers that are hired at the company. Can they handle difficult scenarios? Where did they learn to prepare taxes?

How much can you expect to pay to have your taxes handled? Several factors can affect the price. First of all, the degree of experience that the preparer has may affect their base fee. Often what you pay for is what you get, so better to shell out a little bit more for good service and peace of mind. Another factor is the size of the business that you operate. If it is just you and some expense receipts, you will obviously pay less than if you have several employees and operate multiple companies.

You usually have 4 levels of tax preparer to choose from.

• CPA – This will be the most expensive option since they have the most training. Being a CPA, however, does not make someone a good tax preparer automatically, so be sure to ask if this particular certified public accountant can supply you with what you need.
• EA – An enrolled agent is someone who is trained to prepare taxes. They differ from a CPA by not having the same variety of training. The only way to become an EA is to either pass several tests or to have actually worked with the IRS for a period of years. This makes them very qualified to help you.
• Tax Preparation Chain – These places will usually be able to prepare your taxes cheaper, but may not be able to help as much if you have a lot of questions or some tricky things to deal with. Watch out for hidden fees if your taxes are not very straightforward. A little something will be tacked on for everything they have to do in addition to just standard tax paperwork.
• Free – How can you get your tax preparation done for free? If you didn't have very much income or are a senior, you may be able to get some free help with your taxes. Check around to see if you qualify.

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• GBC Tax Income Atlanta Office
• Commonly Used Tax Forms
• Contact GBC Income Tax Services Today! 
• GBC Management Team

Experienced Representation = Success in Tax Court

Don't be intimidated
by the IRS

It can be very intimidating to have to go to court with the Internal Revenue Service regardless of who initiates the proceedings. You know that losing this sort of case can have disastrous financial effects on you for many years to come. Failure to prove your innocence can result in things like seizure of assets, liens, and various other collection actions. You will want every advantage you can get in the courtroom to make sure that doesn't happen.

To prevent these actions, you will need to convince a judge that the collection attempts are unjustified. You may be able to get much better results by pursuing your day in court with the proper representation rather than by trying to go it alone. What may cause you to want to go to tax court? Here are a few potential reasons for contesting taxes:

• The IRS attempts asset seizure
• An attempt to claim an unreceived refund
• An offer of compromise is denied
• Claim to be an innocent spouse is denied
• A desire to reassess the taxes you are liable for

In any of these various cases, a great number of tax laws apply. Trying to navigate such case on your own can be difficult if not virtually impossible. Why try to do something that is so important without the proper support in your corner?

The right Atlanta tax representation may be able to help you clear up your tax issue for good and avoid penalties and other undesirable outcomes, so get the help that you need. It will be well worth it.

Very often when an issue arises, you have a limited amount of time to try and resolve the issue. This would include filing for any necessary court proceedings. Even if you feel too much time has passed, an experienced professional may be able to help you get matters taken care of, so don't give up hope. Get a consult on your situation with no obligation, and start working on getting your peace of mind back today. You can have a successful day in tax court.
Get the right representation from an experienced individual.
Look for someone with the right reputation.
Make sure they know your situation well and have experience with the particular circumstances you are dealing with. This will ensure that you have the best chance of getting the desired result in court.

Call GBC Income Tax Services today at 678-366-9232 for all your tax and IRS needs!
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• GBC Tax Offer Atlanta Experienced IRS Representation
• Essential Financial Services
• Tax Requirements By State
• Visit the Internal Revenue Service's Website

Checklist to Prepare for an External Audit

An external audit will protect your
investment and keep your business.

Following is a step-by-step set of instructions intended to aid in the preparation for an external audit.

The guide can also be used for internal audits. Outlined are the planning stage, the entrance interview, fieldwork, the exit interview, and the final audit report phase.

Planning & Preparation:

• Designate an audit liaison person within your organization who will act as the auditors’ main contact. This should be an experienced person with strong project management and communication skills.
• Send a general communication to faculty and staff stating that if the auditors contact them directly, they should notify the liaison.
• Have the liaison develop a list of contacts who must be kept informed of the audit progress.
• Have the liaison develop a list of people who can provide support on technical issues and gathering documentation.
• If necessary, schedule and conduct a general training session with individuals who may be asked to participate in the audit either to produce documents, be interviewed by the auditors or participate in findings discussions.
• Contact auditors and set up entrance conference. Clarify the purpose of the audit and ask that audit requirements be in writing.
• Alert the internal audit department of the upcoming audit.
• Make necessary arrangements for the audit team – meeting rooms, preliminary interview schedule, entrance conference specifics including attendees.

Entrance Conference:

• Develop a list of questions to discuss in the meeting including the purpose, objectives and scope of the audit; the awards to be included and sampling techniques; timelines including beginning and end of fieldwork and expected report date; and communication process.
• Consider giving the auditor(s) a tour.
• Determine staffing and space requirements, including whether the auditor will need internet access during fieldwork; arrange for auditor on site space; modify meeting room needs as necessary.

Fieldwork:

• Obtain the list of requested records and develop an approach for pulling the information on a timely basis. Give a target date for providing records to the auditors.
• Review the records prior to submission to the auditor. Consider if the records provide the necessary support. Anticipate what questions the records may provoke.
• Maintain a list of all records provided to the auditor.
• Meet with auditors at least weekly to learn of the status of the audit and potential issues that are identified.
• Verify the facts on which issues are based; perform re-calculations and review source documents, if necessary.
• Communicate at least weekly with those within the organization who need status updates.
• Liaison should attend meetings between faculty/non-financial staff and external auditors unless the auditor or faculty insist otherwise.
• Set up exit interview.

Exit Interview:

• Ask for a copy of each finding or draft report prior to the interview.
• Based on the nature of the issues, ask representatives from other groups to participate, e.g. general counsel, internal audit, office of sponsored programs, controllers office, etc.
• Agree on valid findings; negotiate those findings where the facts are not representative of the control weakness.
• Discuss with the auditor the disposition of the audit issue, i.e. verbal comment, report item, management letter.
• Escalate any disputed issues to supervisors.

Audit Report:

• Ask for the final draft report for review.
• Draft management responses and circulate to management for approval.
• Understand the follow-up process.
• Perform a post-audit evaluation to determine weaknesses in the process and potential changes to approach in the future.

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READ MORE>> rmas.fad.Harvard.edu: Preparing for an External Audit

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•     About GBC Services
•     GBC Audit Services Website
•     Visit the Internal Revenue Service's Website

Grow Your Company Simply by Outsourcing Payroll Services

The #1 way to grow your business
is to be more efficient

Your business is either growing or dying, regardless of what payroll services you are using. The facts are in the pudding too, that one of the number one ways to grow your business is by becoming more efficient. One of the most efficient things you can do is simply outsourcing your payroll services completely.

Depending on the size of your company, it will probably be far cheaper in the long run outsourcing payroll services than bringing it in house. I mean, think about that for a second. If you brought the payroll services in house, you now have an employee completely dedicated to this service costing you some hefty wages. Then again, if you divide an employee's time between profit producing activities and payroll services, now you are just throwing mud in your water. Distracting someone from profit producing activities is the #1 thing you do not want to do.

Which is what makes outsourcing your payroll services such a fantastic idea.

Here are some of things that an outsourced payroll service can do:

• Handle direct deposit
• Check printing
• Withholding, time and attendance

Not to mention, outsourced payroll services are well versed in all related laws – local, state and federal tax laws and regulations. Even if you have the time and the resources to hire a full time staffer to do this job, you may still be better off outsourcing your payroll services. Since IRS penalties can be extremely strict and prohibitive of growing your business's revenues if you get dinged, this is in short just an easy (super cheap) way of covering your assets.

Call GBC Income Tax Services at 678-366-9232
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• Why Hire a CPA Listed with the BBB
• Helpful Payroll Related Articles
• Essential Financial Services
• Contact GBC Income Tax Services Today!