Business Tax Services by CPAs

New Businesses – Startups – Entity Selection

When selecting the entity for your new business, it is important to understand all implications it may have on your business and personal tax returns. At Bailey Stube & Glaser (BSG), we are committed to educating and planning for our clients, so entity election becomes a foundation of the tax strategy.

Even after initial review, continuous work with business owners facilitates changes in tax strategy and potentially, changes in entity type. Tax law changes make ongoing tax planning crucial. As an example, The Tax Cut and Jobs Act (TCJA) reduced a top corporate tax rate from 35% to a flat 21% that made it appealing for many small business owners to change from an S Corporation to a C Corporation.

Although, there may be a different type of attention that a new and mature small business require, but both kinds require a periodic entity type analysis to maximize the tax benefits.

Business Tax Services

With over 25 years of experience, serving the Fairfax, Vienna and Tysons Corner areas, our local and remote business clients are privy to our staff’s dedication towards professional business tax services.

The following are the areas of our focus: 

• local and multi-state income tax
• federal income tax for various entity types
• sales tax management
• property tax
•  compliance and reporting for domestic and foreign contractors (W-9, W-8BEN, 1099, 1042)
• distribution tax planning
• tax strategy development
• stock option and share purchase plan taxation
•  employee benefit plans
• tax settlement with IRS

Quickbooks and Xero Bookkeeping Services

Our QuickBooks experts are Platinum Pro-Advisors and we are a gold Xero partner. Why is it important? When it comes to business taxation, it is critical to have an efficient and transparent accounting system that allows for an effective cooperation of a business owner, a bookkeeper and a tax accountant. BSG could assist with monthly, quarterly or annual support as well as on as needed basis.

Xero and Quickbooks are the most widely used and highly recommended accounting platforms for small businesses. We support both Quickbooks desktop and Quickbooks online (QBO) versions.

Our Xero and QuickBooks services are available to businesses throughout the Metropolitan D.C. area including Arlington, Fairfax, Tysons Corner, Reston, Vienna, Oakton and McLean.