Built on a solid foundation of excellent client service and in-depth market knowledge, Berg Faircloth strives to develop a relationship with each client to foster a greater understanding of your needs and objectives while maintaining the ethical standards
Berg Faircloth is built on a solid foundation of excellent client service and in-depth market knowledge. We strive to develop a working relationship with each client to foster a greater understanding of your needs and objectives while maintaining the ethical standards of our profession. We provide tax and accounting services for individual and business clients.
It’s crucial to know how to handle debt collectors so you can assert your rights and choose the best way to manage your debt. Here are 3 things you should do before making a payment. https://www.nerdwallet.com/blog/finance/how-to-deal-with-debt-collectors/
nerdwallet.com A debt collector is hounding you, seeking payment on a consumer debt you owe. Debt collection tactics can be annoying at best — and predatory, or even illegal, at worst.…
Starting a business involves a host of little details -- some more complicated than others. One of the most complex involves how your business will be taxed. https://www.fool.com/taxes/taxes-and-your-new-business.aspx
fool.com Make sure you're paying both your employees and the tax collectors.
The Internal Revenue Service will begin accepting paper and electronic tax returns on January 27, 2020. Here's what you need to know about tax form due dates and what to do if yours is late.http://bit.ly/36dwQDy
forbes.com The Internal Revenue Service (IRS) will begin accepting paper and electronic tax returns on January 27, 2020.
Even though you've been paying taxes for years to receive social security, your monthly checks may still be subject to federal income tax. This can throw off your retirement plan if you're not accounting for it. https://www.fool.com/retirement/2019/08/12/how-will-your-social-security-benefits-be-taxed-in.aspx
fool.com Depending on your income, you could face taxes on your benefits.
Here is a breakdown of the new income tax changes that you should be familiar with: https://cnb.cx/2FNcJSc
cnbc.com New tax changes for 2020 give taxpayers the opportunity to save more for retirement and health-care expenses, take a bigger deduction on their individual tax return and fine-tune how much tax is withheld from their pay, which could result in larger refunds next year.
How much are your streaming subscriptions costing you? This calculator can show you the lifetime cost of these services... the numbers may make your reconsider your next binge watching session. https://www.marketwatch.com/story/before-you-sign-up-for-disney-this-calculator-adds-up-the-true-cost-of-your-streaming-services-2019-11-13?mod=personal-finance
marketwatch.com Netflix for $12.99, Disney+ for $70 a year, Hulu with no ads for $11.99, and add on HBO for $14.99… wait, how much is this all costing? Welcome to the next...
About one-third of people who reported fraud to the Federal Trade Commission through September of this year say they were asked to pay with a gift card or reloadable card. http://money.com/money/5663000/gift-card-scams-amazon-itunes-walmart/
money.com Remember: Gift cards are only for gifts.
Avoiding The Paycheck Creep. Here’s Why Your Raise Threatens Your Retirement via @forbes
forbes.com Everyone wants a raise. But if you don't plan on how to save the majority of your raise and instead allow for lifestyle creep, then you could endanger the quality of your retirement.
If you’re hoping to kick back and enjoy your golden years, relying on a pension and social security may no longer be enough to ensure your financial security. https://www.usatoday.com/story/sponsor-story/lincoln-financial-group/2019/11/05/dont-let-these-5-financial-hurdles-get-way-your-retirement/4165001002/
usatoday.com With a little bit of preparation and foresight, you can look forward to a comfortable retirement.
If you're going out, stop by an ATM on your way. Only withdraw as much as you are willing to spend for the night - it's an easy way to avoid a surprise on your tab at the end of the night.
Looking for stocks worth holding on to? Here are 3 that may work for a buy-and-hold strategy:https://www.usatoday.com/story/money/2019/11/19/3-stocks-to-hold-for-the-next-20-years/40628517/
usatoday.com These companies are poised to dominate their markets for years to come.
Preparation is important when it comes to your taxes - follow these best practices on how to organize your receipts: https://www.startups.com/library/expert-advice/how-to-organize-receipts
startups.com Marissa Poole, VP of Professional Services for Startups.co, discusses how to organize receipts and why it's so important for business owners-entrepreneurs.
Almost half of all Americans live paycheck to paycheck, and 69 percent have under $1,000 in savings. If you’re like most Americans, you have some expenses you could stand to cut, and you could probably use some extra cash in your budget. http://bit.ly/2QuuMBv
financialhotspot.com If you are living on a tight budget take a look at these money saving ideas so you end up with more money than month.
One of the ultimate life goals is to have financial freedom. Start with these habits to make sure you are on the right path: https://www.investopedia.com/articles/personal-finance/112015/these-10-habits-will-help-you-reach-financial-freedom.asp
investopedia.com Learn 12 key habits for achieving financial freedom, including smart budgeting, staying abreast of new tax deductions and the importance of proper maintenance.
There are pros and cons to paying Uncle Sam with plastic - check them out before you decide if it's worth it. https://wallethub.com/edu/t/pay-taxes-with-credit-card/25752/
wallethub.com Pay Taxes with a Credit Card: Pros & Cons John S Kiernan, Managing Editor • Mar 12, 2019 0 SHARES Yes, you can pay your taxes with a credit card. No, it’s neither free nor always a good idea. There are pros and cons to paying Uncle Sam with plastic, and we’ll do our best to lay them out ...
Closing credit card accounts can effect your credit score - here's what you should know. https://www.creditkarma.com/credit-cards/i/how-to-cancel-credit-card/
creditkarma.com Tips to follow when you cancel a credit card: Close unused cards that cost you money, keep some accounts open, check for errors on your closed accounts.
Do you have upcoming travel plans? Read these tips on how to save money when traveling: https://www.investopedia.com/what-to-pack-to-save-money-when-you-fly-4691686
investopedia.com Between the danger of losing your stuff and the cost of flying with it, if it's heavy, it pays to pack strategically. What to pack,what to skip—why.
Debt consolidation companies and the loans that they offer purport to help you pay down your debt faster and while paying less interest. Do they do this, or are they not worth the hassle? http://bit.ly/2Q7YCg0
financialhotspot.com No one likes being in debt. This information can help you make informed choices and get your budget and your financial future on track.
Here are some ways you can lower your taxes when tapping into your retirement funds. https://www.forbes.com/sites/lawrencelight/2019/11/15/how-to-lower-taxes-when-tapping-retirement-funds/
forbes.com The IRS requires you to withdraw money in retirement, which jacks up your taxable income. Here’s how to minimize Uncle Sam's claim to your payout.
Contributions to 529 accounts aren't tax-deductible on the federal level, although invested funds grow tax-free. But, depending on where you live, you may be able to deduct 529 contributions from your state taxes.
Should you prioritize saving for an emergency fund above everything else? What if you have credit card debt? Does the credit card debt supersede an emergency fund? With so many questions it can be hard to prioritize your financial goals. https://www.listenmoneymatters.com/prioritizing-your-financial-plan/
listenmoneymatters.com We all need a financial plan. But there are so many aspects that it can be hard to know where to start. We'll show you how to prioritize financial planning.
Sweden is now taxing chemicals in your phone, will the U.S follow? https://www.forbes.com/sites/taxnotes/2019/11/26/taxing-your-iphone/#3725aec5d220
forbes.com Nana Ama Sarfo considers the use of taxes to target hazardous substances, focusing on Sweden’s wide-ranging chemical tax that encompasses many consumer electronics.
Filing and paying taxes is undoubtedly among the least favorite things most businesses do over a year, yet it needs to be done correctly and efficiently. http://bit.ly/2QatGf8
financialhotspot.com Running your own business takes attention to detail and a lot of planning, especially when it comes to taxes. Use these tips to help you plan your strategy and save money.
Saving money on taxes is everyone’s goal, from minimum-wage workers to multi-millionaires. Tax Credits can help - if you understand them. https://www.thebalance.com/tax-credits-and-qualifying-rules-4155743
thebalance.com Tax credits can be confusing because each comes with its own set of rules. Know which tax credits you can claim and which you don't qualify for.
Happy New Year! What are your goals for the year?
Charitable contributions are tax-deductible if you itemize, so consider making some generous contributions in 2019. You can take a deduction both for cash contributions as well as for donating items of value. Just make sure you can document the contributions that you make, and that you don't inflate the value of items you donate.
Generally you do not have to perform a year-end tally of credit card rewards or figure out where they go on your tax return. But you may want to check the terms - there are exceptions to this rule. http://bit.ly/2qBTt69
thebalance.com The IRS doesn’t consider most credit card rewards taxable, but there are some rules and practices to be aware of.
Current estimates put the national student debt total in the United States at over 1.3 trillion dollars. What are the side effects to this crisis? There may be some you didn't consider: https://financialhotspot.com/2019/01/07/five-important-side-effects-of-student-loan-debt-to-consider/
financialhotspot.com Student loan debt is on the rise so it is important to consider all of the consequences and get advice from someone you can trust.
Here are some end of year tax tips to consider that could help save money this year. http://bit.ly/34pKdAz
ml.com Learn how to reduce your tax liability and get closer to your financial goals with these helpful end of year tax tips from Merrill Lynch.
Happy holidays to our friends, family and clients! How are you celebrating?
It's the time for giving! Here are 5 strategies to tax-optimize charitable giving. http://bit.ly/2ORmH8W
forbes.com That number was the third highest on record, despite the fact that the tax changes that took effect in 2018 reduced some of the opportunities to take advantage of tax breaks for charitable giving.
Do you know when you should file for Social Security benefits? http://bit.ly/35B7mAb
forbes.com The question is not when should “I” file for benefits, but when should “We” file for benefits.
Obtaining a mortgage, especially for the first time, can be one of the more stressful events that the average person endures. However, getting a mortgage need not be so stressful with the right approach and information. https://financialhotspot.com/2019/12/09/ten-tips-for-a-stress-free-mortgage/
financialhotspot.com Buying a house requires attention to detail, and lots of research. Use these helpful tips to prioritize your to-do list and make the process less stressful.
What is child tax credit and do you qualify? http://bit.ly/2OoeBWD
nerdwallet.com The Child Tax Credit is a tax credit worth up to $2,000 per qualifying child and $500 per qualifying dependent. It is one of three kid-focused federal tax credits that are…
Here are some important things to know for the tax-filing season when it comes to family credits. http://bit.ly/2QOTtdE
When you put money into an HSA, you invest the funds with pre-tax dollars. This means you could reduce your taxable income by $3,500 or $7,000 if you max out your contributions. You can then take out this money tax-free to cover healthcare costs, so you get a huge tax benefit since both deposits and withdrawals are tax-free.
Have you recently purchased your dream home? The work isn't over yet - here are some things you should do once you become a homeowner to protect your investment. http://bit.ly/2KXj5kD
investopedia.com Once the paperwork is signed and the keys are in your hand, these financial tips can safeguard your new home—and your ability to keep it.
Saving for college is often something that gets postponed and tends to sneak up on people. Here are several ideas to help families save for college education more effectively. https://financialhotspot.com/2019/12/04/6-useful-college-savings-tips-for-parents-starting-out-late/
financialhotspot.com A college education is getting more expensive every year. Check out these tips and start planning ahead to get the most out of your educational investment.
Tax-loss harvesting is a tax reduction strategy implemented in taxable investment accounts. The account owner sells securities at a loss to offset capital gains tax liabilities.
Have you considered stocks as a gift for a child? Here's what you need to know about the "Kiddie Tax" Law http://bit.ly/2DlClV0
investopedia.com The kiddie tax is a tax law imposed on individuals under 17 years of age whose earned income is more than an annually determined threshold.
Doing your taxes can be complicated, and if you try to do it on your own there's a good chance you'll miss some credits and deductions you're entitled to.
We are hiring!
The more tax deductions you have, the less taxes you’ll pay. That’s why write-offs are so important for small business owners. http://bit.ly/2KSO4OQ
gusto.com The more tax deductions you have, the less tax you’ll pay. Here are 7 tax write-offs for small business owners that you shouldn't overlook.
With more aspects of our lives being financed, monthly payments are becoming a huge chunk of most budgets. https://financialhotspot.com/2019/11/25/9-reasons-why-cash-is-still-king-even-today/
financialhotspot.com Using cash for all your purchases can help you reign in spending habits and stay out of debt. Check out some more reasons why cash is and will remain, king.
Having a firm grasp on your numbers helps you determine if you’re actually building a profitable business - or if you just have an expensive hobby. http://bit.ly/2oorA02
gusto.com One day, I opened up a new checking account. This simple move helped me increase my business revenue by 132% in a single year. Here's how to copy my approach.
For over 60 years Berg Faircloth & Company has enjoyed a reputation for highly personalized accounting services for business owners and individuals alike. We have passed-down a philosophy of superior client service and skill to each partner and member of our team. It is our mission to help clients enjoy better financial health and benefit from an organized tax and accounting strategy.
Our firm was founded by Eli Berg, who later promoted Oscar L. Faircloth to partner in 1963. Oscar’s son and daughter, Ricky L. Faircloth, PFS and Angela K. Wyrick, CPA, PFS were brought on and later made partners themselves in 1992 and 2001, respectively. Leadership in tax and accounting is a part of our family history and makes our firm truly unique. When you visit Berg Faircloth & Company, you can trust your finances will be handled by a team with a shared vision and passion for problem-solving and best-quality service.
Whether you are a business owner looking for improved tax and accounting strategies, or you need assistance with multiple income channels, our team is here to help. Your first consultation includes a review of your last two years’ worth of tax returns. For business owners, we take partnership interests into account and make them a part of the accounting strategy as well.
During this meeting, we make it a point to determine where clients can save money, how their tax strategy can be improved, or what proactive steps can be taken to increase compliance and reduce risk. We ensure your visit with our professionals is efficient and that we make the most of the time you have set aside to speak with us.
You can find our Leesburg accounting firm directly across the street from the Lansdowne Woods (formerly Leisureworld) and close to Inova Hospital - Landsdowne Campus. We welcome you to read more about our team and services on our website or contact our office today for a consultation!
|Monday||09:00 - 17:00|
|Tuesday||09:00 - 17:00|
|Wednesday||09:00 - 17:00|
|Thursday||09:00 - 17:00|
|Friday||09:00 - 17:00|
It’s never too soon to plan for retirement.
2 Cardinal Park Drive, Suite 101 B Leesburg, Va 20175 http://brokercheck.finra.org/
A financial advisory practice of Ameriprise Financial Services, Inc.
Maven Financial, formerly Advanced Financial Strategies, provides cutting-edge financial solutions to businesses and families.
Registered Representative LifeMark Securities Corp.
AMJ understands that success is different for all. We strive to understand what success means to you so we can create, implement and monitor a financial plan that allows you to live your dreams.
Nicolette Financial is a fee-only independent financial planning firm specializing in Wealth Management, Retirement Planning, and Tax Preparation & Filing.
Registered Financial Services Representative
Fellows Financial Group reliably provides clients with practical financial planning, insurance and investment advice.