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Category Archive for: ‘News’

  • Tax Form Pic

    Important Tax Deadlines

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    The 2016 individual 4th quarter estimated Federal tax payment is due January 15, 2018, for the remainder of the year. For the upcoming tax season (April 17, 2018) we will be sending out our engagement letters in December via email. Please be sure to return …

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    Tax planning Topics for 2017

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    As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly the next. In many cases, this will involve the time-honored approach of deferring income until next …

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  • Tax Form 2

    IRA Planning Mistakes

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    The following are potential planning mistakes regarding IRA’s.  These may or may not apply to your situation, so please consult your accountant or financial advisor to discuss these items in more detail. Not taking advantage of the Stretch distribution option or not establishing it properly  …

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  • Tax Form 2

    Differences Between Hobby or Business

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    Taxpayers are often confused by the differences in tax treatment between businesses that are entered into for profit and those that are not, commonly referred to as hobbies. The differences are: Businesses Entered Into for Profit – For businesses entered into for profit, the profits …

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    Non-Profit News

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    We would like to inform you of some important topics applicable to not-for-profit organizations. First, we remind you of state registration requirements if your organization solicits donations: Charitable Solicitation Registration and Compliance – Charitable solicitation is regulated at the state-level. Virginia requires charitable solicitation registration …

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  • Lockphoto1

    IMPORTANT! Mail Scam Targets Taxpayers

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    Crooks have tried all sorts of e-mails scams, but almost everyone has figured out that the IRS does not send out notices by e-mail or email attachments. So crooks have changed their tactics. Now, there are reports of taxpayers receiving by mail and email fake …

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    Roth IRAs for High Income Taxpayers

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    If you are a high-income taxpayer and would like to contribute to a Roth IRA but cannot because of income limitations, there is a work-around that will allow you to fund a Roth IRA. The income limitations can be circumvented by what is frequently referred …

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  • Tax Form Pic

    Are you required to file 1099’s?

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    If you use independent contractors in your business and pay them $600 or more during the calendar year, you are required to issue them a 1099-MISC by January 31 of the following year. If you fail to do so and your income tax return is …

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  • Tax Form Pic

    What If I can’t make a payroll tax deposit?

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    When you as an employer withhold Social Security and income taxes from an employee, those funds are the property of the government, and you as the employer must hold those funds in “trust” until the funds are turned over to the government. Failure to do …

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    2014 QuickBooks Updates and Year-End Closing

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    2014 QuickBooks Updates Intuit will be retiring their support for the 2014 version of QuickBooks in June of 2017.  Based on this, UCM’s support, both general and technical, will also be limited for versions older than 2015.  The limitations will affect our ability to share …

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Leesburg Office    5 Loudoun St. SW Ste. B Leesburg, VA 20175           Phone 703-771-1818  Fax 703-777-5708 

Warrenton Office  10 Rock Pointe Lane Ste. 3 Warrenton, VA 20186        Phone 540-347-5681  Fax 540-347-3353