VG CPA PC, is a professional Certified Public Accountant firms incorporated in Virginia. Our firm pr Founded in 2005, VGCPA PC is a professional Certified Public Accountancy firm incorporated in Virginia.
Today, VGCPA Inc. is one of the most sought after firms in the Washington DC, Metro area. Staffed with a highly skilled and experienced professional team, our firm provides close, one-on-one personal attention to all our clients. As a full-service Accounting firm, we offer a broad range of services for business owners, executives, and independent professionals. Our success is attributed to our p
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Happy New Year! Welcome 2022!
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Merry Christmas and Happy Holidays!
With Respect, Honor and Gratitude.
Thank You Veterans!
Wishing you a fun filled Happy Halloween!
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ERTC - Employee Retention Tax Credit
Are Donations and Goodwill costs allowable under FAR 31.205-8 and FAR 31.205-49 respectively?
Are Bad Debts and Contingency Costs allowable under FAR 31.205-3 and FAR 31.205-7 respectively?
Are Precontract Costs allowable under FAR 31.205-32?
Are Legal and other Proceedings Cost allowable under FAR 31.205-47?
Are Interest Expenses and other Financial Costs allowable under FAR 31.205-20?
Can Fines & Penalty Costs be deemed allowable under FAR 31.205-15?
Is Entertainment Cost allowable under FAR 31.205-14?
Unallowable Costs under FAR (Federal Acquisition Regulations)
DCAA Accounting Compliance for IT and Software Companies
TIPS FOR COUNTY BPOL TAX AUDITS
We saw many of the business owners received county BPOL (Business License) tax audit in December 2019 (Audit Letters still keep coming) . Well planned audit preparations and reading of Gross receipts Exclusions can save lot of money. Here are the some tips and example of exclusions. .
- Any amount paid for computer hardware and software that are sold to a United States federal or state government
- Any receipts attributable to business conducted in another state or foreign country in which the taxpayer (or its shareholders, partners or members in lieu of the taxpayer) is liable for an income or other tax based upon income.
- Salary and wages paid by staffing firm for temporary staffing to other organisations
List of exclusion are tricky and well planned audit can save lot of money Pl read all BPOL regulations and planned accordingly.
Non planned audit can cost you lot of money
Tax Preparer/Accountant Job in Ashburn, VA at VG CPA PC Easy 1-Click Apply (VG CPA PC) Tax Preparer/Accountant job in Ashburn, VA. View job description, responsibilities and qualifications. See if you qualify!
IRS Expands Penalty Waiver From 85 to Lowered 80 Percent Threshold
Announced Friday, March 22, 2019: The Internal Revenue Service provided additional expanded penalty relief to taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year.
The IRS is lowering to 80 percent the threshold required to qualify for this relief. Under the relief originally announced Jan. 16, the threshold was 85 percent.
The usual percentage threshold is 90 percent to avoid a penalty (indicated in Publication 17).
Taxpayers who have already filed for tax year 2018 but qualify for this expanded relief may claim a refund by filing Form 843, Claim for Refund and Request for Abatement and include the statement “80% Waiver of estimated tax penalty” on Line 7. This form cannot be filed electronically.
CPA GARG OCT 27 2018 Description
January 13 2018
If you want to save taxes under new tax law for SALT deduction pl watch this:
Disclaimer: Pl do not use the tax strategy discussed without discussion with tax expert as speaker or our firm are not aware your full tax situations. Our firm or speaker will not be responsible in any way for using of tax strategy without consultations.
Ashburn CPA | Vikas Garg, CPA We are an Accounting firm licensed in VA. We offer a broad range of services for business owners, executives, and independent professionals.
We're hiring! Apply now.
TRUMP’S NEW TAX PLAN
IS THIS THE REAL IRS? OR A SCAM?
Tax season is upon us! Here are some updates for filing this year!
vgcpapc.com We offer a broad range of services to help you secure a sound financial future. You've worked hard to get where you are. You deserve a firm that works hard for you.
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