Practice Aids & Alerts

 New Client Information

• Click Here for a Welcome Packet  

Individuals

• The following is a list of questions that allows us to locate tax deductions in order to minimize a tax payers tax liability. 
  • Questionnaire
  • Individual Taxpayer Organizer
  • Sole Proprietorship
  • Rental Property

• See the attached document to determine whether the withholding allowances on Form W-4 should be updated. Click Here 
• If you would like GDC to prepare a Gift Tax Return (Form 709), please complete this questionnaire. Click Here
• The following documents will provide information related to the following items:
  • Charitable Contributions
  • Identity Theft Checklist
  • IDENTITY THEFT INFORMATION
  • Fair Market Value Guide
  • Business Entity Chart
  • Taxable Social Security
  • Sale of a Principal Residence
  • Tax Deductions - Homeowners

Businesses

• The following is information related to deducting travel, meals and entertainment costs. Travel, Meals, and Entertainment
• What kind of financial statement service do I require. Financial Statement Services Guide
• See the attached article regarding fraud in a business setting. Click Here
• How long do I need to maintain my payroll records.  RecordsRetention
• Here is some information regarding cost segregation in the event that commercial real estate is purchased. Acquisition for Commercial Real Estate
• Here is some information to help you decide if you are hiring an employee or an independent contractor. EMPLOYEE vs. INDEP. CONTRACTOR
• • If you need to determine if a vendor you are paying needs a 1099, see attached.  1099 Ltr
• See link for National Compensation Matrix Tool (NCM)- AASHTO AUDIT GUIDE- CLICK HERE!
• Forms utilized, W-4, W-9.
  • Form W-4    fw9
• Here are instruction to create an accountants copy within Quickbooks.  Please select one of the following based upon the version of your program.
  • Instructions for QB's Accountant's Copy (v 2014 and earlier)
  • Instructions for QB's Accountant's Copy (v 2015)
• What type of entity should you be:  
  • C Corporations
  • S Corporations
  • LLCs and Partnerships

Exempt Organizations and Non Profits

• Please see the attached related to protecting your tax exempt status.    Non profit exemption
• The attached is information includes ratios that have been established for Not For Profit entities such as: Financial Health Indicator, Stewardship Indicator and Fund Raising Efficiency. NON PROFIT RATIOS

CPA FIRMS - SYSTEM AND ENGAGEMENT REVIEWS 

• STATE of Florida (FICPA) Regulatory Peer Review Requirements: Click Here.
• AICPA Firm number information form for Peer Reviews. Reviewer Selection Form
• Team Captain Resume: Click Here
• Documents needed during a SYSTEM peer review:  
  • System Review Required Licensure Inquiries
  • System Review Required Engagement Summary
  • System Review Required Inquiries System-Quality Control Materials
  • June2021-4100-Inst-Firm-Sys-Rev
  • January2017-4700-Staff-Qs
  • 4750 Managing Partner-Chief Executive Officer Interview
  • SYSTEM Peer Review Info request
  • Peer Review Questionnaire
• Documents needed during an ENGAGEMENT review:
  • Engagement Review Required Inquiries
  • May2015-6100-Instructions to Firm-Eng Rev
  • Peer Review Questionnaire

DISCLAIMER:

The documents included in this website are provided for general information purposes only. Use of these sample documents is at your own risk, and should not be used without seeking professional advice. Any accounting, business or tax information contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, GDC would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.Please contact our office at 407-322-0561 for tax and audit related advice.