Bookkeeping Concepts LLC

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Bookkeeping Concepts LLC Lisa A.

Netter is an accomplished entrepreneur and business owner with over twenty-five years of experience in providing professional accounting, bookkeeping, payroll, and tax solutions to small businesses.

You must pay the alternative minimum tax (AMT) if your AMT liability exceeds your regular tax liability. An exemption of...
10/19/2026

You must pay the alternative minimum tax (AMT) if your AMT liability exceeds your regular tax liability. An exemption of $90,100 is available ($140,200 for joint filers, half that for separate filers), but it phases out when income exceeds certain levels — which have dropped for 2026. Plus, the exemption is now phased out twice as fast as in 2025. Add to that the impact of a potentially larger state and local tax deduction (which isn’t AMT-deductible), and you might be at higher AMT risk this year. Call us at (770) 935-8200 for help assessing your risk and finding strategies to minimize your taxes.

Limited partner status in a business generally offers valuable benefits, including liability protection and self-employm...
10/15/2026

Limited partner status in a business generally offers valuable benefits, including liability protection and self-employment tax advantages. But it may also limit your ability to deduct partnership losses under the passive activity loss rules. Passive losses are usually deductible only against passive income unless you materially participate in the business. Limited partners face a tougher standard than general partners. Certain work, such as investor activities or tasks not customarily performed by owners, may not count toward material participation. Other limitations may also apply. Before investing in a limited partnership or claiming losses, contact us at (770) 935-8200 to discuss the tax implications.

Reconstructing business mileage records months after the fact can be frustrating — and unreliable. If you or your employ...
10/14/2026

Reconstructing business mileage records months after the fact can be frustrating — and unreliable. If you or your employees use personal vehicles for business, establish a system for logging trips as they occur. QuickBooks users can take advantage of mobile tools that automatically track trips and classify business vs. personal mileage. Other mileage apps or a well-maintained manual log can also work. As year end approaches, make sure your records include key details, such as mileage and business purpose. Timely, accurate documentation is essential for bookkeeping, employee reimbursements and tax reporting. Call us at (770) 935-8200 for help improving your mileage tracking process.

Giving away assets during your life can reduce the size of your taxable estate. One option is to pay someone’s tuition o...
10/12/2026

Giving away assets during your life can reduce the size of your taxable estate. One option is to pay someone’s tuition or medical expenses. Such payments can be gift-tax-free — but only if you make them directly to a qualifying educational institution or medical provider. (Advancing the funds to a loved one or reimbursing previously paid expenses doesn’t count.) Unlike making gifts under the gift tax annual exclusion ($19,000 per recipient for 2026), there’s no limit on the amount of tuition or medical expenses you can pay tax-free. Call us at (770) 935-8200 to learn more about lifetime gifts.

Does your business hold intangible assets? Intangibles are nonphysical, long-term resources that can add significant val...
10/08/2026

Does your business hold intangible assets? Intangibles are nonphysical, long-term resources that can add significant value to a business. Examples include copyrights, licenses and customer lists. The tax implications can be complex. IRS regulations require the capitalization of costs to 1) acquire or create intangibles; 2) create or enhance a separate, distinct intangible; 3) create or enhance a future benefit identified in IRS guidance as capitalizable; or 4) facilitate the acquisition or creation of intangibles. Capitalized costs can’t be fully deducted in the year paid or incurred. They generally must be ratably deducted over the asset’s life. Questions? We’re here to help. Call us at (770) 935-8200.

Good news: IRS penalty relief just got easier for many individuals and businesses. The new Automatic Exemption from Pena...
10/07/2026

Good news: IRS penalty relief just got easier for many individuals and businesses. The new Automatic Exemption from Penalty (AEP) process may provide automatic relief from certain failure-to-file, failure-to-pay and failure-to-deposit penalties if you’ve filed returns and paid federal taxes on time for the previous three years (or 12 consecutive quarters for quarterly returns). You must still pay any tax and interest due. AEP will replace First Time Abate relief for eligible returns with original due dates on or after Jan. 1, 2027. During the transition, some eligible taxpayers may still receive penalty notices. Contact us at (770) 935-8200 to determine whether you qualify for AEP or other penalty relief.

When reviewing their income statements, business owners tend to focus on profits or losses. But focusing solely on the b...
10/06/2026

When reviewing their income statements, business owners tend to focus on profits or losses. But focusing solely on the bottom line can lead to mismanagement and missed opportunities. Instead, analyze this financial report with an auditor’s mindset. This requires professional skepticism, objectivity, attention to detail and the curiosity to ask questions. Compare individual line items in the current accounting period to past results and industry benchmarks. After identifying major changes and trends related to revenue and expenses, dig deeper to find the causes and make better decisions. Contact us at (770) 935-8200 for help interpreting the historical results and using them to improve future performance.

With more tax law changes taking effect this year, don’t wait to talk with us until it’s time to prepare your 2026 tax r...
10/05/2026

With more tax law changes taking effect this year, don’t wait to talk with us until it’s time to prepare your 2026 tax return next year. By then, it will be too late to implement most tax strategies that could reduce your April 15, 2027, tax bill (or increase your refund). Let’s review your situation now. Call us at (770) 935-8200.

Are you thinking of launching a new business as a C corporation? Beware of double taxation. First, the company will pay ...
10/01/2026

Are you thinking of launching a new business as a C corporation? Beware of double taxation. First, the company will pay tax at the entity level. Then the individual shareholders may owe additional tax when they receive dividends and other taxable distributions or sell their shares. Reducing corporate taxable income can lessen the impact. For example, the company can generally deduct reasonable salaries, bonuses and eligible fringe benefits provided to shareholder-employees. This strategy also has potential downsides. Choosing your business entity requires careful consideration. Contact us at (770) 935-8200 to compare your options and determine whether a C corporation is the right structure for your start-up.

You may be eligible for the Child and Dependent Care Credit if you pay for care so you can work. For 2026, the credit fo...
09/30/2026

You may be eligible for the Child and Dependent Care Credit if you pay for care so you can work. For 2026, the credit for lower-income taxpayers increases from 35% to 50% of the first $3,000 of qualified expenses for one child ($6,000 for two or more children). Some middle-income taxpayers may also qualify for a larger percentage than in prior years. Call us at (770) 935-8200 to learn how the updated rules may apply to your family.

Address

2030 Beaver Ruin Road
Norcross, GA
30071

Opening Hours

Monday 9am - 6pm
Tuesday 9am - 6pm
Wednesday 9am - 6pm
Thursday 9am - 6pm
Friday 10am - 3pm

Telephone

(770)9358200

Website

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