Tax Services

When it comes to the world of taxes, preparation and planning go a LONG way. We have the expertise and knowledge you are looking for in a tax professional and can help you navigate your options.

We’re happy to help you with any of these services:

Tax Preparation

Stop missing out on potential deductions that could be saving you big money!

Tax Planning

Real strategies and solutions to help you minimize your IRS liability.

Happy Thanksgiving 2019 from Virginia Accounting Services to you and yours

Re: 1099-MISC late filingBusiness owners and Rental Property Clients, please be aware that a form 1099-MISC must be filed with the IRS and given to any non-employees to whom you paid at least $600 or more during the tax year. The only exception applies to...

The First Thing You Need To Do

Set it as your personal goal to increase (or start) your household money moving in these directions:

Steve Kallam’s Four Steps To Properly Handle Upset Customers

2020 has been ... something.Maybe, if we're all fortunate, the SpaceX launch will be the best thing to come out of this season.Because there is simply pain all around right now. I said this in another place, but it's overwhelming, as someone who has to communicate to...

What To Try When Your Hampton Roads Business’ Receivables Are Slowing Down

At the end of last week, the House approved the Senate's action of extending the PPP loan availability for 5 more weeks, and the President signed it shortly thereafter.This means that approximately $129 billion in remaining PPP funds can be tapped by Hampton Roads...

What Your Hampton Roads Business Should Do If They Received PPP Funding

I promise that one day I'll write to you and my Hampton Roads area readers about matters other than government aid, the CARES Act, PPP/EIDL, and whatnot.But as we all keep saying: these are extraordinary times. Pick your cliche -- it all fits right now.But here is a...

A Big IRS Update For Hampton Roads Businesses On Using The PPP Loan Funds

Well, if you were wise, you probably saw this coming.Turns out ... if you received a PPP loan, that the expenses you pay from the proceeds of this (forgivable) loan ... are not deductible for Hampton Roads businesses.Ouch.The IRS just released new guidance to this end...

Hey Hampton Roads Business Owners, Do You Understand The Value of Time?

How are you and your Hampton Roads business hanging in there these days? I'd be interested in what kind of revenue you're managing (unless you've already given us visibility into your books -- I can see for myself).Shoot me an email, and let me know. I might have some...

Steve Kallam’s Three Keys To Get Out of Debt

Steve Kallam's The Real Way To Get Out of DebtHave you heard the lender ads that will loan you enough money on your house to consolidate ALL of your debt plus give you a little extra to take that much needed vacation? What a disservice that is! They are actually...

For The Sake of Your Hampton Roads Business, Don’t Navigate This Extended Tax Season Alone

...don't navigate this season alone.The more we learn about the nuances of PPP forgiveness, EIDL regulations, the Employee Retention credit (an alternative, payroll-tax-specific way to save cash for your Hampton Roads business) ... well, the more that we discover that...

Keeping Your Business Focused On Revenue Growth and Customer Retention

We've been talking about meetings, efficiency, and how Hampton Roads Area small business owners simply have to stay laser-focused on tasks that will bring them and their business towards actually achieving their goals. Especially with all of the political and cultural...

How You’re Missing Legal Tax Deductions

Here’s a certain truth: the State and Federal Government would love to have more of your hard-earned money in their accounts. Sure, even though it’s painful, none of us begrudge paying our legal and fair share of taxes.
But the problem is that regular taxpayers, like you, are missing out on legal and safe deductions, to the tune of hundreds of millions of dollars in unclaimed refunds every year!