Virginia Accounting Services

read moreWe've worked with plenty of businesses who have to cobble together 9 different software programs to keep everything straight, or who just wash their hands of it all and put everything on the credit card. Last week, when I wrote my message to our Hampton Roads business clients, the biggest news was the second round of the PPP, and that expenses covered under the first round of it would be tax deductible. Has anything happened since then? Goodness, even just the "mere". Wow, does it ever feel good to have turned the page on 2020.

read moreOur firm was established in 1967 as Virginia Bookkeeping Service, our name was changed to Virginia Accounting Services in 2001 to reflect our expansion into the growing accounting industry. We have since expanded our services to offer complete accounting, financial planning and tax resolution services giving us a a strong presence in the Hampton Roads area. Our firm provides outstanding service to our clients because of our dedication to the three underlying principles of professionalism, responsiveness and quality.

read moreThe IRS is serious about payroll tax laws and the penalties and fines for those who don't comply are stiff. If you are a small business owner who processes your own payroll, or who hires an employee who dedicates time to processing payroll, you are probably wasting a minimum of 12 days per year that could be spent generating new business. Our payroll services are cost-effective, giving you back the time you need to run your company and focus in improving your products and services. We keep up with the changing federal and state tax laws so that you don't have to.

read moreOwning your own business is right up there with apple pie and baseball as an American pastime. In order to assure that your business succeeds beyond the initial desire and thrill of fulfilling a dream, you must take the time to develop a comprehensive plan and gain the advantage of having all pertinent information in place before you begin your venture. With our help, you will identify and avoid the common mistakes many new business owners make. We will help you build a business plan for success, as well as provide financial management services to meet your needs.

read moreMost small business owners waste valuable time attempting to manage finances and keep up the bookkeeping end of their business when the time could be far better spent focusing on the service or the clients your business specialize in. The successful small business owner knows to spend more time on work means generating more profit. Leave the tedious, time-consuming job of bookkeeping and accounting to the professionals! Monthly or quarterly, depending on the size of your business and your specific needs, we will take care of the following accounting and bookkeeping services, which benefit your business in the following ways.

read moreUnderstanding when, where, and how your cash needs are being met is crucial to owning a successful business. If your cash-in exceeds your cash-out, life is good. When cash-out exceeds cash-in, however. Our cash flow management services will help you conquer cash worry once and for all. We will help you identify your cash needs, with a solid understanding of when and how they will occur, as well as show you how to build good relationships with banks and creditors so that you have resources available to you when that crash crunch occurs.

read more10 million tax payers missed out on a chance to get a bigger refund last year simply because they neglected to fill out one line on their tax return. Will you miss a similar opportunity this year? Today's tax laws are increasingly complicated and the rules for deductions and credits change year by year. Are you aware of all the deductions and credits that might be available to you this year, even on the most basic of tax returns? Perhaps you feel secure in your do-it-yourself tax preparation software, but let's face it.

read moreFinancial Planning has never been more important. There are so many other issues and problems which come up in the course of a normal business or family, that to list all of them would not be beneficial. However, there are a number of additional services our firm has had the pleasure to assist with in the past. Below are some of the financial planning and other services we offer. If you don't see exactly what you're looking for or just need some more information on any of our services, feel free to contact us and we'd love to answer any questions you have and help in any way we can.