TAXES CAN BE CONFUSING

We understand that taxes can be confusing to many people, and it especially doesn’t help when the law changes! It’s inevitable that taxpayers will go check the internet for answers to tax questions – and there is lots of good information out there!  However, there are a few things that we would recommend as you go to Google.  First is to check the date of the article you are reading.  There are tax law changes all the time, and even an article that is just a year old could be out of date.  Second, would be to check with a tax professional before making a decision regarding your taxes if you are unsure.  Our clients are always free to get in touch with us to follow up about things that may be unclear. We feel that well informed taxpayers make the best decisions.  Happy tax season!

QUICKBOOKS DESKTOP CLASSS

Upcoming Class:

Thursday February 20th 2020

4:00 p.m. to 8:30 p.m.

With a 30 minute dinner break

     Cost:  $200

Sandwich Dinner is Included

For more information or to register,

call Pam Burnett at 770-478-7424

Class depends on # of registrants  

1099’s are for Landlords too!

1099s are for Landlords too!

Under the new tax law, small business owners can get up to a 20% deduction on their net business income. The great news is that this also includes landlords with rental properties! But, the catch is that you have to treat your rental like it’s a business. You need to have a separate bank account, keep separate records for your rental, and you need to issue 1099s from your rental property. 1099s are required to be issued to any non-corporate entity (or attorney) that you pay $600 or more in the year for rent or for services by cash or by check. Make sure that you get a W-9 from your vendors so that you can properly complete the 1099 in January! As always, please give our office a call if you have further questions. If you are not a client, we can setup an initial one hour consultation to see how we can help!

GSCPA Announces Accounting Industry Raised over 774K Meals in Two Weeks

The Georgia Society of CPAs (GSCPA) and the Georgia Food Bank Association (GFBA) are pleased to announce the results of the sixth annual Georgia Accounting Food Fight, which took place Aug. 12 – 23. During the friendly, two-week competition, accounting professionals statewide raised food and funds for nine food banks across the state. Everything each team raises stays local and benefits the food bank that serves their community.

 read more »

QuickBooks Checkup

Does your business use QuickBooks Desktop?

In general, we recommend that you have one of the three most recent year versions.  For example, in 2019, you’d want to make sure you are using the 2019, 2018, or 2017 version of Quickbooks.

Intuit only supports the three most recent years, and if you’re not using one of those versions, then you could be vulnerable to hackers.

You don’t need to upgrade every year, but sometimes QuickBooks releases new features that may be of interest to you.  Here’s what’s coming in 2020 — https://www.accountingtoday.com/news/quickbooks-desktop-2020-offers-increased-automation-and-more

We hear you kid!

2018 Deadlines Approaching

Finish Line

2018 Extended deadlines are coming up!!  Partnership and S Corporation tax returns for 2018 are due by 9/16/2019, and personal returns and C Corporations are due by 10/15/19! If you haven’t filed your 2018 returns yet, be sure to give your CPA at Loggins, Kern & McCombs a call today!

Georgia Refund

HAVE YOU RECEIVED YOUR GEORGIA REFUND YET?

We have had instances where client’s refunds were being held by the Georgia Department of Revenue for various reasons. Sometimes, just a quick phone call is all that is needed to get the refund released. If you should have received a refund and you haven’t yet received it, please give your CPA a ring, and we can assist in this matter.

QuickBooks Class – Desktop Version

REGISTER NOW!!

Loggins Kern & McCombs offers beginner QuickBooks classes to help small business owners save time and
money by organizing all business finances in one place.
Held at the Launch & Go 54/74 Intersection Peachtree City, GA 30269 Tuesday August 27th 2019 10:00 to 2:30
call Pam Burnett at 770-478-7424 to registe
r

Summer Checkup

Summer Checkup! It’s always tax time here at LKM, so we wanted to give you a few things to think about during the summer months…

1. Business owners – are you keeping up with your W-9s? You should have a W-9 on file for any non-corporate vendor that you use for services. Click here for a W9 form. You’ll need to have these on file for when 1099s are done in January.
2. Keep your books up to date! We know that it’s easy to let other more pressing items come before your monthly accounting, but it will truly make your life so much easier to keep current with your books instead of trying to play catch up later. Need some solutions for getting your bookkeeping done? Give us a call – we can help assess your needs and give recommendations.
3. Start preparing now for tax planning! If you are a client of ours, we would love to sit down with you after October 15th to plan out your 2019 tax return. You can start gathering data now to make this meeting a success! Shoot your CPA an email to see what they recommend.