Why didn't my CPA tell me about tax credits?
-------------------------------------------------------------------------
Clients frequently ask us why their CPA didn't tell them about tax credits. How do we respond? Well, the question puts us in a bit of an awkward position, because we never want to harm the CPA-client relationship. We only want to focus on helping tax professionals and clients obtain tax credits!
So we tell clients that their CPA may have told them, but it may have
been when they met to discuss all tax matters, and they may have forgotten about it during tax season with all the crazy deadlines and heartburn that happens.
We also ask if they keep their CPA updated about changes in their business. Duh!! Many reply that they don't, since taxes are such a pain, and they want to minimize pain (kind of like visiting a dentist). A few mention that they get $ billed for every quick call to their CPA to discuss ideas (kind of like taking your car to a mechanic). So they avoid pain and expensive talk.
So what should you do? Be proactive with your clients. Reach out to let them know that $ credits may be available to help their business (kind of like being a trusted business advisor).
The credits may be for something they did in the past or planning to do this year. And now is a great time before the crazy deadlines start again. Cash $ is king - your clients will love you for helping them get more of it.
|
Tax Reform and Fairness for Georgians!!??!!
-------------------------------------------------------------------------
We attended the 7/28/10 organizational meeting of the "Special Council on Tax Reform and Fairness for Georgians" at the Sloppy Floyd Building next to the Capitol. Standing room only! Lots of lobbyists -- well, mainly lobbyists!
Larry O'Neal (House Ways and Means), Speaker Ralston, Lt. Gov. Cagle, and Gov. Perdue all introduced us to the mission of the Council, which is to examine everything about Georgia taxes, send recommendations to legislators in January, and have an up or down vote with no amendments. It was stated clearly that they were taking a similar approach to what the U.S. Congress did on the base closings issue a few years back. You know what that means -- political cover!!
Some partial quotes: "examine all tax credits for effectiveness"; "examine each sales tax exemption for cost and impact"; "credits and exemptions are really preferred appropriations"; "examine the cost of compliance." Yes, you get the idea. There is a giant revenue hole stretching out to the horizon, and they want to use the Council to make the hard choices to fill that hole.
The 2011 Session could bring about the biggest changes in many many years! Everything is on the table. The Council will be getting input from around the state over the next couple of months. A.D. Frazier, who was elected chairman, emphasized that they want input from all concerned, and that "everything will be out in the open." So make sure to voice your opinion about our state's tax priorities. Click here to go to the Council's web site for the details. And we will keep you posted!
|
About Us
-------------------------------------------------------------------------
Alpharesults has assembled a team with the specialized knowledge and approach required to obtain Georgia income tax credits. We are not a public accounting firm. Rather, our services complement those of public accounting firms and do not create conflicted loyalties, because our professionals do not perform attestation work or other external audit functions.
We focus on small to medium-sized businesses and work exclusively in Georgia with a wide variety of in-state and out-of-state accounting firms. For more information on our services, follow this link.
|
