Business & Financial Solutions has been working with businesses just like yours for over nearly two decades. We have a full range of accounting services in Washington DC, Maryland, and Virginia. And our services are available to fit your individual or business needs. BFS Accounting Services offer outstanding accounting, regulatory compliance, and financial management services. Our clients are throughout Maryland, Northern Virginia, the Washington, DC Metro Area. We also serve the Greater Baltimore Metro Area and surrounding communities. BFS is committed to helping our clients achieve their financial goals. Our accountants can work in virtual environments. And if your company lacks the ability to set up virtual systems, it’s not a problem. Because we set up virtual systems for virtual bookkeepers and accountants, we offer that service as well.
Your business should have bookkeeping expertise, But it does not have to have the expense of a full-time bookkeeper. BFS is your solution. Because our bookkeepers and accountants are on call on as needed. And we help you, as a business owner, to focus your attention on your work skills. Business & Financial Solutions is reliable and delivers on time. We provide professional bookkeepers and accountants. And we help the business owner maintain accurate records. Further, we help keep an accurate status of your financial stability. We offer all levels of services. And the prices are affordable. BFS bookkeepers communicate with the business owner. So the business owner is never left in the dark.
The filing of a “Final Accounting” includes an Accounting which must follow the Court’s format. You must provide receipts and releases from all beneficiaries; information regarding the payment and satisfaction of all estate and inheritance (i.e., “death”) taxes; fiduciary taxes (i.e., “income taxes” of the estate), and creditors; and you must an Affidavit by the Executor. It should show that he/she has fully and completely satisfied his duties as Executor. Further, you must file a status report. The report should show all the information required by the court. Remember that if anything is left undone or incomplete, the executor will be held personally responsible. Avoid costly errors, shortfalls, or mistakes. So hire a professional from the start.
Lastly, it is the Orphans’ Court’s duty to monitor these things. Business & Financial Solutions helps you prevent shortfalls. And we help through accurate and efficient accountancy. You can count on BFS to deliver results on-time.
Our accounting services are used for many purposes. And they are applied to government agencies and private businesses, subject to government regulations. Our accountants provide accounting solutions. And we perform services for these agencies and contractors. We make sure revenues and expenditures are carried out according to law.
BFS makes certain that your company’s accounting practices are compliant with IRS, FAR and other federal and state regulations. In doing so, we are often involved in the budgeting, forecasting, and asset management with our clients. Business & Financial Solutions is persistent in finding creative solutions for your company. Lastly, our firm assures that your company is in compliance with all governmental authorities.
Our team reviews the records for a company or firm financial management practices. And we check for mismanagement, fraud and waste. We evaluate your budgeting and management systems and operations. And we are diligent in reviewing performance, efficiency, and compliance to laws and regulations. Business & Financial Solutions has vast expertise in a variety of industries. Our internal auditors specialize in areas such as information technology auditing, compliance auditing, environmental auditing and more.
We are experienced in areas such as hospitality management, non-profit (501 (c) 3) organizations. We include government contracting services and much more. BFS meets the challenge where other companies fail. If there is a solution, we will find it. Business & Financial Solutions provides business solutions to many companies across different industries. Our firm has the ability to perform virtually across the country. And we offer full-service accounting, as well as on-call retainer services.
Business & Financial Solutions offers accounting, bookkeeping, and business consulting services throughout the Washington DC Metro Area. We extend into Northern Virginia. Our firm also serves cities in most of the United States. State of the art technology and staff technologists provide the means to operate virtually anywhere. We are the accounting firm you can trust.
Business & Financial Solutions’ clients have been extremely happy in operating remotely from our server platforms. They have the assurance that their files are secure and backed up daily in local and remote locations.
Our virtual technology allows us to work across multiple servers and accounting platforms. Clients no longer have to experience delays in receiving accurate and up-to-date financial information. Reports are accessible on a daily, weekly, or monthly basis. These processes allow us to deliver real-time financial information.
Our QuickBooks advisors include accountants and bookkeepers. They review client accounts at regular intervals to ensure that the structure of accounts remains accurate. Advisors are there anytime you call with a question or need advice for an important business decision. Your call is always welcomed. We can assist with the review of your QuickBooks Bookkeeping file to help you make more informed decisions.
Our firm can help you by reviewing your QuickBooks to make sure everything is where it should be. We make sure that QuickBooks is set up properly. Nothing will balance if QuickBooks is not set up properly. It will be impossible to generate accurate profit and loss statements and other financial reports that you need to successfully run your business.
BFS provides QuickBooks Pro Advisor services for client’s bookkeepers and accountants throughout the U.S. Our firm offers complex tax & business consulting services for small to medium-sized businesses.
This firm offers professional virtual accounting services at a high level of expertise. This level of service is not found in your average small business CPA firms. Our standardized processes streamline and improve your accounting practices. The BFS talented team is experienced with all the major accounting software programs. They include QuickBooks, Peachtree, Quicken for Business, Great Plains, and SAGE.
We perform vital accounting functions such as accounts payable and accounts receivable. We offer project accounting, general ledger accounting, bank reconciliations, preparation of financial statements, and financial analysis. Our professional consulting team becomes the virtual accounting department for your business.
Business & Financial Solutions provides virtual accounting services to business consulting to many companies across different industries. With office locations throughout the Metro Area, we hold the ability to perform virtually across the country. We offer full-service accounting and bookkeeping. Our services may be on-call as well as on monthly retainer services.
BFS uses technology to share ideas and workspaces. We socialize, we solve problems, and we fuel the real engine of the American economy. Business & Financial Solutions offers multiple levels of virtual accounting and bookkeeping services. Services are customized for different companies that need the support of a finance organization without the full-time burden of traditional employees.
We Resolve Tax Problems
Errors made in business tax returns, whether a corporation or partnership, may be costly. And they usually result in a multitude or tax problems, including those with the state returns. So the complications from these mistakes may cause unnecessary headaches for the business owner. Often, the result of the tax problem is an adjustment that is passed down to the state level. Effectively, your business has a snowball of taxes. As a result, a business owner spends more time fighting off the IRS and state governments, than operating the business. Many of these mistakes may be avoided through proper accounting and tax preparation.
Business & Financial Solutions exudes a blend of personal service with espertise to make taxes less burdensome on the business owner. We assist business owners throughout the Washington DC Metro Area. And BFS offers a broad range of corporate tax and accounting services for small business owners. Services include help with preparation of income taxes and other taxes. Additionally, we assist corporate clients in resolving past taxes.
We provide outstanding service to clients. And we are dedicated to the three underlying principles of our accounting services practice: professionalism, responsiveness and quality. So we pride ourselves on service, value and integrity.
We are committed to a variety of other tax solutions for common IRS and state tax problems. And you can search our site for additional information on Maryland, Virginia Washington DC and other state taxation problems.
Corporate Tax Accounting Services
Our accounting services include setting up corporate charters. And we write the membership and operating agreements. But we also perform small business bookkeeping, and income tax returns. BFS is the very best choice when selecting the quality service you deserve. And we customize our services to fit your company. Therefore, we give you exactly what you need. And there is no need to shop around for piece-meal services. We are the perfect solutions for small business and mid-size business partnership and corporate tax accounting. And we are good at repairing problems with outstanding accounting and tax concerns.
Compliance solutions are proven to increase productivity, create efficiencies, reduce risk, and achieve greater accuracy for corporate tax departments. We offer such solutions to companies throughout the U.S. The use of our compliance solutions helps businesses to manage their workflow, conduct research and planning, collect and manage their data, or defend audits, efficiently, precisely and with confidence.
Business & Financial Solutions has found that and ounce of prevention is worth a pound of cure. We will help you set up your corporation, process your payroll, produce quarterly returns, maintain all state requirements, maintain bookkeeping records, and prepare corporate tax returns. Our accountants and tax preparers are efficient in accounting and tax preparation.
You can’t go wrong with a CPA for escrow accounting. An escrow account is where money is held by a party but does not belong to the party. But funds in an escrow account should not be commingled. And they should always be held separately from the funds of the person or entity that is holding the funds. And they may be used to preserve the funds for the event of a bankruptcy of the person or company holding the funds. Again, the funds in an escrow account do not belong to the person holding them. Therefore, the funds should not be used to settle the debts of the individual’s or company’s own creditors.
Attorneys, mortgage lenders, real estate companies or escrow companies may setup Escrow accounts. But they may also be setup by software engineers, accounting firms, independent agents. Also, there a various other professional business entities that may setup these accounts. But, mismanagement of the funds or negligence handling these funds may result in licensing and/or legal consequences.
Most people are familiar with a common example of an escrow account. I am referring to the money held by your mortgage company. And these funds are used to pay your yearly property taxes and insurance premiums. And generally, your monthly payment includes these taxes. Also, the tax amount is adjusted on a regular basis as your taxes and insurance increase.
Tax & Retirement Services
Tax services that often go neglected are those of professional tax planners. You may be eligible for the Saver’s Credit if you contribute to a retirement plan, like a 401(k) or an IRA. The Saver’s Credit is the short name for the Retirement Savings Contribution Credit. And it can be worth up to $2,000 for married couples filing a joint return. The credit is worth up to $1,000 for single taxpayers.
The Saver’s Credit can help you save for retirement and reduce the tax you owe. However, there are the facts from the IRS that you should know about this credit. First, the Saver’s Credit is in addition to other tax savings you can get if you set aside money for retirement. For example, you may also be able to deduct your contributions to a traditional IRA.
Conditions for Tax Savings Credit
Special conditions have to be met in order to receive this credit. And you should refer the IRS website for specifics in this matter. Or you may wish to contact our firm and schedule an interview. We can talk to you about the credit. And we can also discuss all your tax planning needs.
Upon retirement, life and income change. Instead of contributing to tax-deferred retirement savings plan that reduce taxes; you now have to pay taxes on the funds withdrawn from your savings plan. So professional tax planning is imperative so that you do not pay excessive taxes during the years where you may be making the least income. After all your retirement years should be your golden years.
Retirees often receive income from a variety of sources, such as Social Security benefits, distributions from pensions, annuities and IRAs. Business & Financial Solutions will take a close look at how your income from various retirement plans are taxed, and then look at basic tax strategies that may. You see, a little planning ahead can go a long way to keeping your taxes as low as possible in retirement. Our clients are residents in Northern Virginia, Montgomery County, Frederick County, the Washington DC and Greater Baltimore Maryland Metro Areas.
Outsourced Accountants in Frederick
Many small businesses are beginning to outsource their accounting and bookkeeping operations. As a matter of fact, this has become a practical means to reduce costs and overhead. So if you are looking for outsourced accountants in Frederick MD, our company can be of assistance. And we also provide services for surrounding areas, such as Owings Mills, Eldersburg, Mount Airy and more.
Business & Financial Solutions helps start-up companies and other businesses with excellent. And we do this by ushering through accounting and finance solutions on a fixed-fee basis. Further, our firm offers comprehensive outsourced accounting, bookkeeping and tax services for businesses in Maryland, Virginia, Washington, DC and throughout the United States.
We can work with you in an ongoing partnership. We will provide all of your accounting and bookkeeping needs. And our services come at a cost less than the price of a part-time or full-time bookkeeper, or accountant. Accounting software packages include QuickBooks, Peachtree, Deltek and many others.