Oddo Brothers CPAs - since 1979!
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    • Nohemi Oddo
    • Charles Oddo
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……….GENERAL INFORMATION & REMINDERS  
  QUESTIONS/SUBJECTS NOT COVERED HERE
We are here to assist you.  If you don't see an item covered here, PLEASE contact us. 
  OUR STAFF WORKS AS A TEAM USING STANDARDIZED PROCEDURES
Pretty much every CPA firm makes that claim.  We however do work as a team using
internally created checklists for every major task we do for you.  Each checklist contains
YEARS AND YEARS of experience.  This ensures that certain techniques and principles
that come only with experience are being applied to your work regardless of which staff
person is actually doing the work.
If you would like a "tour" of our checklists, please do not hesitate to ask.
  CALENDAR YEAR VS. FISCAL YEAR
Make sure you are familiar with the difference.  A calendar year ends on 12/31.
Remember to adjust any dates if you have a fiscal year end.
  CASH VS. ACCRUAL - which one to use (if you are a new business)
If you will use the receivable and payable features in QBs, we recommend accrual.
  QUICKBOOKS PROGRAM to maintain your general ledger
If you don't use QuickBooks, apply the concepts to the software you do use.
Or, contact us to get you started using QuickBooks.
  GENERAL LEDGER ACCURACY
You are responsible for maintaining an accurate general ledger.  We are here to assist
you in accomplishing that.  We are here to help.  Now is the time to ask questions.
Please remember, your tax return is based on your ledger.  
  HOBBY LOSSES and your business
Although it is normal for businesses to show occasional losses, the IRS may classify 
your business losses as "hobby losses."  
If you're not sure if it applies to you or if you have any questions, PLEASE let us know.
  NOTICE FROM IRS AND GA
Please forward to us copies of any and all notices that you may receive.
  DEVIL'S ADVOCATE
If after doing our work we feel the tax return may draw too much attention, we will let you know.
Please remember this is what you hire us to do.  FYI, the IRS is
starting to ask "how did you pay that much mortgage interest on such low income?"
  LEVEL OF SERVICE we are providing to you
Certain words have certain meanings.  It is important that you understand them.
The terms audit, review, or compilation are examples of those words.  We are not 
providing those unless specifically hired to do so.  Our services are limited to general
Federal, State, and Local compliance requirements such as income tax returns.
We are not looking for irregularities such as theft and fraud.  If you suspect something, 
contact us.  
  LETTERS TO LENDERS
We cannot issue letters to 3rd parties without performing the actual work referenced
in their request letter.  They know that.  So please understand that.
For example, mortgage companies ask for such letters often.
If you request we do the work, then we can issue the letters after the work is done.
However, certain times of the year will affect when we can get the work done.
  GIFT TAX ISSUES
If you gift a person more than $13,000 this year, you may have to file a gift tax return.
  BACKUP YOUR DATA - establish procedures
Make sure you backup up your data file!!!   We recommend you use two USB hard drives
  DEADLINES - update your calendar
If you're not sure what is due and when it is due, contact us. Create a calendar for yourself.
To file by deadline, need info by 3/1 for corporate work, 3/15 for personal.
  PERIODIC EMAILS WE WILL SEND TO YOU
If you receive an email from us, chances are it is because something needs to be done.
Make sure you reply to our emails when they refer to "work to be done."
If you're not sure if it applies to you or if you have any questions, PLEASE let us know.
  WE RECOMMEND THAT YOU MEET WITH US ANNUALLY because
1-Your circumstances may change and what applies or doesn't apply may change.
2-Tax law changes may result in changes having to be made by you.
3-We are constantly adding, changing, and deleting information contained herein so
it maximizes the benefits for our clients.
4-Your available time may be limited and prevent you from meeting with us personally.
Phone: 770-461-7627
Midtown Atlanta Office: 620 Peachtree Street NE, #120, Atlanta, GA 30308
Fayetteville Office: 819 Redwine Road, Fayetteville, GA 30215