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Goldsmith Accounting

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Foley, AL
Goldsmith Accounting

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𝗕𝗢𝗢𝗞𝗞𝗘𝗘𝗣𝗜𝗡𝗚, 𝗣𝗔𝗬𝗥𝗢𝗟𝗟 & 𝗧𝗔𝗫 𝗦𝗘𝗥𝗩𝗜𝗖𝗘𝗦 𝗠𝗔𝗗𝗘 𝗘𝗔𝗦𝗬
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💎 𝙔𝙤𝙪 𝙙𝙞𝙙𝙣’𝙩 𝙨𝙩𝙖𝙧𝙩 𝙮𝙤𝙪𝙧 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝙩𝙤 𝙗𝙚𝙘𝙤𝙢𝙚 𝙖 𝙗𝙤𝙤𝙠𝙠𝙚𝙚𝙥𝙚𝙧, 𝙥𝙖𝙮𝙧𝙤𝙡𝙡 𝙨𝙥𝙚𝙘𝙞𝙖𝙡𝙞𝙨𝙩, 𝙤𝙧 𝙩𝙖𝙭 𝙚𝙭𝙥𝙚𝙧𝙩... 𝙗𝙪𝙩 𝙬𝙚 𝙙𝙞𝙙.
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💎Formerly Goldsmith Business Solutions 🧰We use operational knowledge to fill the gap between a standard bookkeeper and a CFO 🎉2026 SB Chamber Emerging Small Business Of The Year 🏆2025 & 2026 Best of Baldwin Winner At Goldsmith Accounting, we take the stress of financial management off your plate...so you can get back to growing your business, serving your clients, and actually enjoying your work.
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😌 𝙉𝙤 𝙟𝙖𝙧𝙜𝙤𝙣. 𝙉𝙤 𝙟𝙪𝙙𝙜𝙢𝙚𝙣𝙩. 𝙅𝙪𝙨𝙩 𝙘𝙡𝙚𝙖𝙧, 𝙨𝙞𝙢𝙥𝙡𝙚 𝙨𝙪𝙥𝙥𝙤𝙧𝙩. We know how overwhelming it can be to feel lost in the numbers or unsure if you're doing things right. That’s why we break things down in plain language, meet you where you are, and make sure every question is welcome.
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📧 [email protected]
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📲 (251) 313-1404
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🌐 www.goldsmithbusinesssolutions.com

10/27/2026

🤫 As accountants, we know a LOT about the businesses we work with. What they make, what they owe, what they’re struggling with, and sometimes things even their closest friends don’t know.

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🔒 But here’s the thing…your business is YOUR business. Not ours to share over dinner, at a networking event, or around town.

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❤️ We take your trust seriously. No gossip. No judgment. Just professional, confidential support.

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🤝 You deserve an accounting team you can be completely open with. That’s the kind of relationship we believe in.

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🌴 Goldsmith Accounting
📍 316 S McKenzie St, Suite 125, Foley
📅 By appointment only
☎️ (251) 313-1404

10/26/2026

🧸 Being a bookkeeper is like looking under someone’s bed and seeing all the toys they shoved under there before company came over. 𝙒𝙚 𝙨𝙚𝙚 𝙩𝙝𝙚 𝙢𝙚𝙨𝙨𝙮 𝙨𝙩𝙪𝙛𝙛 𝙮𝙤𝙪 𝙢𝙞𝙜𝙝𝙩 𝙣𝙤𝙩 𝙬𝙖𝙣𝙩 𝙖𝙣𝙮𝙤𝙣𝙚 𝙚𝙡𝙨𝙚 𝙩𝙤 𝙨𝙚𝙚.

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❤️ But here’s the thing…messy books don’t mean you’re a bad business owner. They just mean you need some help.

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🤫 We don’t judge. We don’t gossip. We keep your business private, help fix what’s wrong, and move forward.

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🤝 Don’t be embarrassed to show us the mess. That’s what we’re here for!

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🌴 Goldsmith Accounting
📍 316 S McKenzie St, Suite 125, Foley
📅 By appointment only
☎️ (251) 313-1404

10/25/2026

⛪ Churches can receive more than tithes and donations. They may rent out space, sell items, earn interest, hold events, or make money from other activities.
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💰 Being tax exempt does not automatically mean every dollar a church earns is tax free. The IRS looks at what the church is doing to earn the money and whether that activity is tied to the church’s tax exempt purpose.
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🧾 If a church regularly runs a business activity that is not closely related to its church purpose, that income may be called unrelated business income. If the church has $1,000 or more of gross income from that type of activity, it may need to file Form 990T.
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🧩 But not every extra dollar becomes taxable. Some types of rent, interest, dividends, royalties, donated merchandise sales, and activities run mostly by volunteers can have special exclusions or exceptions.
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📢 If your church earns money outside of normal giving, do not just assume it is tax free. Know where the money came from, keep it separated in the books, and make sure you understand how it should be handled.
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🌴 Goldsmith Accounting
📍 316 S McKenzie St, Suite 125, Foley
📅 By appointment only
☎️ (251) 313-1404

10/24/2026

⛪ Churches are nonprofits, but their IRS rules are a little different from most other nonprofit groups. A church that meets the rules under 501c3 is generally considered tax exempt without having to apply to the IRS first.
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📄 Churches USUALLY do not have to file a Form 990 each year. That is a big difference from most other tax exempt nonprofits.
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🧾 But that does not mean a church has no tax filings. A church may still have payroll reports, W2s, and other tax forms depending on its employees and activities.
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💡 A church can also choose to apply for official IRS recognition of its tax exempt status. Some churches do this so they have a letter from the IRS showing that status.
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📢 If you help lead a church, you should know which tax forms your church does and does not have to file. Tax exempt does not mean there are no rules to follow.
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🌴 Goldsmith Accounting
📍 316 S McKenzie St, Suite 125, Foley
📅 By appointment only
☎️ (251) 313-1404

10/23/2026

⁣❤️ A nonprofit may not pay federal income tax the same way a regular business does, but that does not mean there is nothing to file with the IRS.
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📄 Most tax exempt nonprofits file some type of Form 990 each year. Smaller groups may file the simple Form 990N. Others may file Form 990EZ or the full Form 990.
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🧩 Which form you file depends on things like how much money the nonprofit brings in and how many assets it has. Private foundations have their own return called Form 990PF.
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📚 The Form 990 also tells a much bigger story than just income and expenses. It can show what the nonprofit does, how money is used, who leads the organization, and other information about how it operates.
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😉 If you help run a nonprofit, you should know which Form 990 your organization files and why. Tax exempt does NOT mean paperwork exempt.
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🌴 Goldsmith Accounting
📍 316 S McKenzie St, Suite 125, Foley
📅 By appointment only
☎️ (251) 313-1404

10/22/2026

💼 If you own an SCorp and work in the business, your W2 is only one part of your taxes. Your paycheck matters…but it is not the whole story.
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📄 Your SCorp also files its own tax return called Form 1120S. Then you get a Schedule K1 that shows your share of the business profit.
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🧩 That K1 goes on your personal tax return too. So you may have W2 wages from the business and SCorp profit showing up on the same personal return.
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💰 And this is important…the profit on your K1 is not based on how much money you took out of the business. You can leave money in the business and still owe tax on your share of the profit.
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📢 If you own an SCorp, you should know what your W2 means, what your K1 means, and how both affect your personal taxes. If those pieces are still confusing, let’s make them make sense.
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🌴 Goldsmith Accounting
📍 316 S McKenzie St, Suite 125, Foley
📅 By appointment only
☎️ (251) 313-1404

10/21/2026

⁣👥 When two or more people own a business together, the tax return can look very different from a business with only one owner. Many businesses with multiple owners are taxed as partnerships, including many LLCs.
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📄 A partnership generally files Form 1065. That return reports the income and expenses of the business, but the partnership itself generally does not pay federal income tax on that profit.
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🧩 Instead, each owner receives a Schedule K1 showing their share of the partnership activity. That information then follows the owner to their personal tax return.
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💰 Here is the part that surprises people. Your share of the taxable profit is not necessarily the same as the cash you took out of the business. Leaving money in the business bank account does not automatically mean you avoid tax on your share of the profit.
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📢 If you share ownership of a business, you should understand what percentage belongs to you, what shows up on your K1, and how that income affects your personal return. Being an owner means understanding more than what is sitting in the bank account.
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🌴 Goldsmith Accounting
📍 316 S McKenzie St, Suite 125, Foley
📅 By appointment only
☎️ (251) 313-1404

10/20/2026

👤 If you own your business by yourself, you may not have a separate federal income tax return for the business at all. For many sole proprietors and single owner LLCs, the business activity is reported right on the owner's personal Form 1040.
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🧾 A business that operates as a regular trade or business will commonly report its income and expenses on Schedule C. The profit from that Schedule C then becomes part of the owner's personal tax return.
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💰 And that profit matters even if you left the money sitting in the business bank account. Taxes are not based on how much money you transferred to yourself. They are based on the tax results of the business and the rest of your personal tax picture.
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🧠 This is also why simply saying, “I have an LLC,” does not tell us enough. A single owner LLC can choose a different tax treatment, including SCorp taxation, so we need to know how your business is actually taxed.
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📢 If you own a business, you should be able to answer this question: Does my business file its own income tax return, or does it report on mine? If you are not sure, let’s get you an answer before tax season.
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🌴 Goldsmith Accounting
📍 316 S McKenzie St, Suite 125, Foley
📅 By appointment only
☎️ (251) 313-1404

10/19/2026

🤯 One of the biggest tax misunderstandings we hear is, “I have an LLC. What tax return does an LLC file?”

Here is the tricky part…LLC does not tell us which federal tax return you file.
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🧩 An LLC is how your business is set up legally. For taxes, we still need to know who owns the business and how the business has chosen to be taxed.

One owner may report the business on Schedule C with their personal Form 1040. Two or more owners may file a partnership return on Form 1065. An LLC may also choose to be taxed as an SCorp or a corporation.
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📚 So when someone tells us, “I have an LLC,” that is only the beginning of the conversation. We also want to know how the LLC is taxed because that changes the tax return, how the income reaches the owner, and sometimes even how the owner should be paid.
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💡 This is something every business owner should understand about their own company. You do not need to memorize tax forms…but you should know what type of tax return your business files and why.
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🗣️ If you own the business, you should know how it is taxed and what that means for you personally. If you cannot answer that without guessing, let’s get it clear before tax season.
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🌴 Goldsmith Accounting
📍 316 S McKenzie St, Suite 125, Foley
📅 By appointment only
☎️ (251) 313-1404

10/19/2026

🖤 Foley Witches Ride is a fundraising event hosted by the Foley Society of Black Hats, a 501(c)(3) nonprofit that gives to local organizations providing food, shelter, and financial assistance to women and children in Baldwin County.

👯‍♀️ The ride this Saturday is a great way to spend your evening. The parade is for women and girls, so bring your moms, sisters, aunts, nieces, cousins, and besties!

🎟️ You can buy your parade tickets at the link below. The parade starts at 5 p.m.

https://facebook.com/events/s/2026-foley-witches-ride/1035384499079638/

🪩 The after party is open to guys too, so no one is left out. We’ll have food trucks, a DJ, and lots of fun at this BYOB event. Join us at the gazebo corner of Foley Heritage Park from 6 to 10 p.m.

🧙‍♀️ I’m putting the finishing touches on my Goldsmith Accounting plans for the event. I have a very special group of friends riding with me this year, and I’m excited to gift them our very first Goldsmith Accounting Witches Ride cup, designed by Driftin’ Turtle Co.!

🧹 Dust off your brooms, witches. It’s almost time to ride!

Address

316 S McKenzie Street (Suite 125)
Foley, AL
36535

Opening Hours

Monday	10am - 5pm
Tuesday	10am - 5pm
Wednesday	10am - 5pm
Thursday	10am - 5pm
Friday	10am - 5pm

Telephone

(850)3081495

Website

https://www.etsy.com/shop/GoldsmithAccounting, http://www.goldsmithaccounting.com/

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