Service in a combat zone is tough, arduous duty. Being far from family, friends and comfortable, familiar surroundings is hard. Whether you serve in the Army, Navy Air Force, Marines, Coast Guard, active duty, reserve or National Guard you are entitled to a valuable tax break for your overseas deployment service to our country. Its called the Combat Zone Exclusion and its important for you to be informed about it.           Much of your pay, especially while deployed is tax free. For enlisted personnel and warrant officers, your base pay is tax free when you step foot into a tax free zone. It applies to the entire month. So if you step foot into the zone on the last day of the month, the entire month's base pay is tax free! There is a misconception by many service members that the tax free pay was changed to a day-for-day rate, meaning you only got tax free pay for the days you were actually "downrange" but, it is just that – a rumor. The only catch is that for higher ranking officers your pay is only tax free up to the pay rate of an E-9. Any pay above that rate is not tax free. Your Leave and Earnings Statement (LES) and your W2's will reflect the correct taxable income amount for Federal Taxes: lower than what you actually got paid. That is, if your administration or disbursing offices are doing their job correctly. It's very easy to claim this income exclusion. Since your non-taxable pay is not included on your W2's you do not have to check a box or fill out an additional form for your return. Just report the wages shown on your W2's on your tax form, usually the 1040.                Some other pay that is similarly non-taxable pay includes imminent danger and hostile fire pay, re-enlistment bonuses for agreements signed in theater and leave accrued in theater. Of course, your Basic Allowance for Subsistence (BAS) and Basic Allowance for Housing (BAH) are not taxable whether you are in a combat zone or not.                     So where are the current, tax free, combat zones? Afghanistan has been considered a combat zone since September 19 2001. Yugoslavia and Albania were designated combat zones on March 24, 1999. The Persian Gulf area (also called the Arabian Gulf) has been a combat zone since January 17 1991. The Persian Gulf area includes The Persian Gulf, The Red Sea, The Gulf of Oman, The Gulf of Aden, Iraq, Kuwait, Saudi Arabia, Oman, Bahrain, Qatar and the UAE. The combat zone also extends into the airspace above all these areas.  We have all heard the stories of the General who commandeered a plane just to fly over hostile territory to get his tax free month but it is not "supposed" to happen. Contrary to popular belief, you cannot get the combat zone exclusion if you are just using the space to travel from one point outside the zone to another point outside the zone, if you are in the combat zone while on leave from a place outside the zone or if you are just there for your personal convenience.                  Serving in a combat zone can be a rewarding experience. There are lots of opportunities for personal and professional growth. Friendships you forge there will last a life time. It can also be financially rewarding. To learn more, consult IRS Publication 3, Armed Forces' Tax Guide. If you enjoyed this article please give the link below a click for seriously useful articles and free tools for evaluating your business.  http://www.patriotaccountingllc.com ...read more

Just Want everyone to know we are still doing tax, there is a lot of lies and bad rummers going around, the people saying themisjuat  trying to get and bussiness for themselfs,  and yes Andy is no longer here, reguard of what he says over 500 people have been audit. please dont taqke my word come in and we will be glad to show you on your return what he did. Andy say I show him how to do taxs I did the right way, thats why we have people fill out the forms in the office to show us what to put on your return, how ever Andy put what he wanted on your return Every body in this office will tell you I told all of them not to put nothing on your return that you didnt write on the paper. Also to clear thing up Andy is the only one I show to do tax, he then himself taught Craig I never did. everyone else in this office worked and trained at H&R; block encludeing myself, My spelling is not the greatest andy  and his friend and family make fun of that, but one thing I have never done is to lie to my customers, I have been doing this for 19 years most people that know me are aware of that, Please come in let us show you what the two people at ETS put on people taxs. Once again thanks for all the support I have got from people over the years, our number is still what it was 19 years ago 770-606-1740 Heaths and Hames Income Tax ...read more

If your business is feeling the squeeze of the economy here are 5 simple tips to keep you in business.  You can effect these changes today to improve your business position! 1. Manage for Cash Flow     Have you heard the statistic that 80% of all new businesses fail in the first year of operation?  Why do they fail when these companies often have good sales and managers who can keep expenses down?  Often, it is due to the fact that they have inadequate cash flow.  When times are tough you have to tighten up your monetary policies by staying on top of your customer's payments and delaying your payments as long as possible.  When your customer is past due (even one day!) contact them and request payment.  If they are more than a week late, contact them and offer a payment plan.  Your job here is to get money in your bank!  Don't be such a softie!  When tightening your monetary policy you must also delay your payments going out as long as possible.  If a particular bill is due 15 days upon receipt – pay it on the day it is due and not a second earlier.  This keeps your funds where you can use them (and earning interest if you have an interest bearing account). 2. Manage Your Assets     Take a look at the "stuff" you have collected around your business.  Have extra office equipment you are no longer using?  Excess inventory or repair parts?  Consider selling these items wholesale or even utilize Ebay or Craigslist to shift unproductive assets into something you can use: cash!  Even equipment you are using but is providing a very low return may need to go. 3. Keep Accurate/Detailed Records     You can never get a true, clear picture of the state of your business if your books are not straight.  Tidy books can show you information about the health of your business you may have never thought about.  You will also need accurate financial information to stay compliant with state and federal tax regulations.  The biggest problem I have seen for small business is co-mingling company funds and personal funds.  In these cases – the IRS may consider your personal funds as part of the business if you get audited.  It's better to stay ahead of the curve and get compliant now than try to play catch-up when you HAVE to. 4. Advertise     A multi-millionaire and savvy businessman that I know once told me the secret to his success – and it is very simple: "Early to bed, early to rise, exercise and ADVERTISE!"  Many small businesses rely solely on word-of-mouth advertising to increase their customer base.  While this can be effective in a very limited way, it needs to be ONLY A PART of your overall advertising strategy.  Advertising doesn't necessarily have to be expensive – you can get the word out on many well travelled internet sites for free.  However, if you do have the budget to advertise, it will pay off immensely.     5. Stay "in touch" With Your Customers     In turbulent economic times your customers wants and needs can shift quickly.  You may never see the changes coming unless you actively engage your customers on a regular basis.  If they perceive that your company is a one-trick-pony they may look to your competitors to fill their new needs.  Simple comment cards mailed with invoices or monthly e-mail surveys can help you notice shifting trends in customer preferences and keep them as your customer.     If you need help in getting the accurate information from your current accounting practices that you need to guide your business, then give me a call today and lets work together to keep you doing what you do best: RUN YOUR BUSINESS AND INCREASE YOUR SALES! David Guild, MBA Patriot Accounting LLC 678-767-7794                                                                                                             ...read more