Heaven & Alvarez, LLC

Heaven & Alvarez, LLC We offer services to our clients with an effort to minimize tax obligations, to address the financia They want someone they know and trust.

Small Business Accounting Solutions
Finding practical solutions for your business is our goal! Since 1995, our team has succeeded in understanding the needs of the industry and creating reliable products to serve them all. In today’s business climates, clients seek an accounting firm that is their partner in navigating a changing world. They want someone that cares about them and their business. T

hey want a professional staff that is responsive to their needs and does quality work. Ranae Heaven founded Heaven & Associates in 1991 and the firm has been growing ever since. In 2019, Ranae partnered with Carlos Alvarez to form Heaven and Alvarez. We continue to listen to our client’s personal and business goals and work to support them in achieving those goals. Our goal is to provide the information our clients need to make the best decisions possible and pay the least amount of taxes legally possible.

No two taxpayers are exactly alike — so your tax strategies shouldn’t be either. Our firm provides customized tax planni...
06/08/2026

No two taxpayers are exactly alike — so your tax strategies shouldn’t be either. Our firm provides customized tax planning for individuals and businesses. We can identify opportunities to reduce taxes in your specific situation while helping you stay compliant with changing tax laws. Call us at (770) 849-0078 to get started.

Are rental real estate activities eligible for the qualified business income (QBI) deduction? The answer is a distinct “...
06/05/2026

Are rental real estate activities eligible for the qualified business income (QBI) deduction? The answer is a distinct “maybe.” This tax break allows eligible sole proprietors and owners of “pass-through” entities to deduct up to 20% of QBI. Pass-through entities include partnerships, S corporations and most limited liability companies. However, income from a rental real estate activity is QBI only if the activity rises to the level of a trade or business or meets an IRS safe harbor, which generally requires separate records, sufficient rental services and specific documentation. Various limits and other restrictions also apply. Call us at (770) 849-0078 to learn more.

When you’re busy running a business, it’s easy to overlook or dismiss the warning signs of financial distress. Rising em...
06/03/2026

When you’re busy running a business, it’s easy to overlook or dismiss the warning signs of financial distress. Rising employee turnover can signal internal strain. Cash flow issues may indicate slow collections or weak working capital practices. And sudden external shifts — such as interest rate volatility, cost increases or supply chain disruptions — can take a toll on otherwise healthy businesses. Supplementing your company’s year-end financial statements with interim reports or targeted agreed-upon procedures can help you spot problems early and take prompt corrective action. Contact us at (770) 849-0078 to learn more.

Your financial life is more interconnected than you may realize. Your tax, retirement and estate planning should work to...
06/01/2026

Your financial life is more interconnected than you may realize. Your tax, retirement and estate planning should work together to support your goals today and protect your legacy tomorrow. We can help you bring it all together with a coordinated strategy to reduce taxes, build retirement savings and achieve your estate planning objectives. Contact us at (770) 849-0078.

Does your business provide complimentary on-site food and beverages for employees? The rules for deducting certain busin...
05/29/2026

Does your business provide complimentary on-site food and beverages for employees? The rules for deducting certain business meals have changed. Beginning in 2026, employers generally can’t deduct 1) meals treated as de minimis fringe benefits, or 2) employer-provided meals that are excludable from an employee’s income and provided for the employer’s convenience on business premises. For the 2025 tax year, generally the former were 100% deductible and the latter were 50% deductible. Contact us at (770) 849-0078 to discuss whether this change will affect your company and how to plan accordingly.

If you own foreign assets and fail to properly address them in your estate plan, unexpected tax outcomes can result. For...
05/27/2026

If you own foreign assets and fail to properly address them in your estate plan, unexpected tax outcomes can result. For example, if you’re a U.S. citizen, your worldwide assets are potentially subject to federal gift and estate taxes, regardless of where you live or where the assets are located. So, if you own assets in other countries and the assets are subject to estate, inheritance or other death taxes in those countries, there’s a risk of double taxation. Call us at (770) 849-0078 to learn more about how to properly account for foreign assets in your estate plan.

If the IRS audits your income tax return, you may need to produce documentation. In general, the IRS has three years to ...
05/25/2026

If the IRS audits your income tax return, you may need to produce documentation. In general, the IRS has three years to assess additional tax, starting from the date the return was filed or due, whichever is later. For example, if you filed your 2022 return by the April 18 deadline in 2023, the IRS generally has until April 18, 2026, to assess a tax deficiency. So you potentially can discard records related to that return after April 2026. But records should be held longer in certain situations. And you should keep copies of your returns forever. Call us at (770) 849-0078 with questions.

The IRS has issued final regulations on the tax deduction for qualified cash tips. The legislation commonly known as the...
05/22/2026

The IRS has issued final regulations on the tax deduction for qualified cash tips. The legislation commonly known as the “One Big Beautiful Bill Act” created the deduction of up to $25,000 per year for 2025 through 2028. Qualified tips generally refer to cash tips received by an individual in an occupation that “customarily and regularly” received tips on or before Dec. 31, 2024. The final regs list more than 70 eligible occupations. In addition to occupations previously listed in the proposed regs, the final regs add visual artists, floral designers and gas pump attendants. The final regs also provide clarifications to the definition of a qualified cash tip. For more details, call us at (770) 849-0078.

Beginning in 2026, a new 0.5% “floor” applies to charitable deductions for taxpayers who itemize. This generally means t...
05/20/2026

Beginning in 2026, a new 0.5% “floor” applies to charitable deductions for taxpayers who itemize. This generally means that only qualified charitable contributions that, in aggregate, exceed 0.5% of your adjusted gross income will be deductible if you itemize deductions. But a charitable deduction for cash donations is now available to nonitemizers. We can help you develop a tax-smart charitable giving strategy for 2026. Contact us at (770) 849-0078.

Do your employees pay out of pocket for business travel, meals or supplies? With a properly structured “accountable plan...
05/18/2026

Do your employees pay out of pocket for business travel, meals or supplies? With a properly structured “accountable plan,” reimbursements are tax-free to employees and deductible for your business. (Remember, meals are generally only 50% deductible.) Without an accountable plan, reimbursements count as taxable wages and trigger income taxes for the employee and payroll taxes for both the employee and your business. Contact us at (770) 849-0078 to help ensure your reimbursement practices comply with the tax rules and minimize unintended tax consequences.

Address

4720 Peachtree Industrial Boulevard, Ste 201
Norcross, GA
30071

Opening Hours

Monday 8:30am - 5pm
Tuesday 8:30am - 5pm
Wednesday 8:30am - 5pm
Thursday 8:30am - 5pm
Friday 8:30am - 5pm

Telephone

(770) 849-0078

Website

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