Stitely & Karstetter, CPA's

Stitely & Karstetter, CPA's

Comments

On this we are happy to thank three more tee sponsors in our upcoming golf tournament that takes place on Monday!

Stitely & Karstetter, CPA's is our neighbor, bookkeeper, and a new Annual Sponsor which also makes them a tee sponsor! Stitely & Karstetter are trusted Certified Public Accountants and Business Advisors. Visit them at www.skcppas.com!

United Bank is also an Annual Sponsor which makes them a tee sponsor in the Spring into Action Golf Tournament this year! United Bank supports WFCM in many ways including volunteering in the pantry and funding special kits for kids! Visit them at www.bankwithunited.com to learn more.

Zolon Tech Inc is a returning tee sponsor! Zolon is a local software company that offers innovative, cost-effective and proven technology solutions. WFCM thanks Zolon Tech for their continued support of our tournament and we look forward to seeing their foursome on the links. Visit www.zolontech.com for more information.

THANK YOU! Thank you to everyone who participated in our Veterans Day virtual telethon, as well as our Paws and Brews event.

Because of your support and donations, we were able to raise $7,000 for our retired K9's. That is INCREDIBLE, and would not have been possible without YOU!

We would especially like to thank the following businesses for their generous donations and contributions: Blue Ridge Veterinary Blood Bank, Canter Point Stables, Flags of Valor, Harvest Gap Brewery, K9 Hurricane, Pet Wants Chantilly, Quilts for K9's, Stitely & Karstetter, CPA's, Sweet Batches, and Zoetis.

From everyone at Paws of Honor, we thank you ❤️

Paws of Honor would like to thank Pet Wants Chantilly for matching our donations in the last hour!!!

We would also like to thank Stitely & Karstetter, CPA's for matching the donations from 1-2 pm!!!

Please text K9VET to 41444 or visit https://igfn.us/form/f5d3iw to make your donation. Let's make this hour the best one yet!

ONE week from today, Stitely & Karstetter, CPA's will be hosting their Annual Charity Golf Tournament benefiting Paws of Honor!
The event will take place at Topgolf One Loudoun in Ashburn, VA.

Last year, over $7,500 was raised to help cover medical costs for the retired K9's in our program. Let's see if we can beat that amount this year!

Visit https://www.eventbrite.com/e/stitely-karstetter-annual-charity-golf-tournament-paws-of-honor-tickets-170322261469?fbclid=IwAR2CSXxlxQYqSJ-19fwEAYUD_f6B3FK57Z6T8g55P-ikYqB3z-NZb_7GpQU for more information about the event and to purchase tickets.

Please share this post, so we can reach our goal this year!

Today is the day to your - and we couldn't be more excited to introduce the inaugural Northeast Future-Ready Firm Conference on Nov. 11. We've partnered with other state CPA societies and the C4Transformation to bring you some of the most innovative professionals out there today, including Donny C. Shimamoto of IntrapriseTechKnowlogies LLC, Shayna Chapman of Shaynaco LLC, and Frank Stitely of Stitely & Karstetter, CPA's. See the full schedule: www.ctcpas.org/future-ready
TWO weeks from today, Stitely & Karstetter, CPA's will be hosting their Annual Charity Golf Tournament benefiting Paws of Honor!

The event will take place at Topgolf One Loudoun in Ashburn, VA, and is sure to be a "PAR TEE" you don't want to miss!

Please visit https://www.eventbrite.com/e/stitely-karstetter-annual-charity-golf-tournament-paws-of-honor-tickets-170322261469 for more information about the event and to purchase tickets.

Stitely & Karstetter, CPA's customers say..
We had such a great time supporting Paws Of Honor at Topgolf on Friday. We invited some of our Veteran customers, friends, and family to join our teams for a day of fun supporting our retired Veteran K-9's.Thank you to Stitely & Karstetter, CPA's for organizing such a great event and to all of the other amazing sponsors who took part in making this day so successful and enjoyable!
K9 Nico wants to let you know there’s only 4 days left to sign up for the Annual Charity Golf event hosted by Stitely & Karstetter, CPA's! The event will be held at the Topgolf venue on Friday, October 30, 2020! This is an indoor venue (each bay has an opening to the course), so rain or shine this event is sure to be a blast!

All proceeds from this event will benefit Paws of Honor, which means your participation will go towards helping retired K9 heroes, like Nico, get the medical care they need and deserve!

To participate as a player, sponsor a veteran to play and/or other sponsorship opportunities, please see the link below!

https://skcpas.eventbrite.com/?aff=Ryan


K9 Dante is ON COURSE for the Annual Charity Golf event hosted by Stitely & Karstetter, CPA's! Make sure you are too by signing up today! The event will be held at the Topgolf venue on Friday, October 30, 2020!

All proceeds from this event will benefit Paws of Honor, which means your participation will go towards helping retired K9 heroes, like Dante, get the medical care they need and deserve!

To participate as a player, sponsor a veteran to play and/or other sponsorship opportunities, please see the link below!

https://skcpas.eventbrite.com/?aff=Ryan


Retired MWD’s Dan and Uu2 would like to invite you to come swing with the big dogs and participate in the Stitely & Karstetter, CPA's Annual Golf Event! The event will be held at the Topgolf venue on Friday, October 30, 2020! All proceeds from this event will benefit Paws of Honor, which means your participation will go towards helping retired K9 heroes, like Dan and Uu2, get the medical care they need and deserve! So come tee off in style in private full-service bays and support our K9 heroes!

EACH ATTENDEE TICKET INCLUDES:
-3 hours of Unlimited Top Golf TopContender Tournament Play
-Beef Brisket Breakfast Taco Bar
-Unlimited Non-alcoholic Beverages
-Lifetime Membership to Top Golf
-Paws of Honor VIP Networking "PAR TEE" Lounge in the Signature Room
- Check In: 9:30 AM. Tee Off: 10:00 AM.

To participate as a player, sponsor a veteran to play and/or other sponsorship opportunities, please see the link below!

https://skcpas.eventbrite.com/?aff=Ryan


The Greater Reston Chamber continues to partner with our members in overcoming today’s challenges and move towards a positive future. We proudly recognize the businesses who have renewed the investment in their partnership with the Chamber!

Allegra Marketing Print Mail
Ascalon International Inc.
Brookfield Properties Retail
Cooper's Hawk Winery & Restaurant
David Brody & Dondershine, LLP
Farmers Insurance Tysons Corner
FJY Financial
GreenFare Organic Cafe
John Fagan
Kalypso's Sports Tavern
Olde Towne Pet Resort
Kyle Knight - State Farm Agent
Melwood
Potomac Financial Private Client Group, LLC
Russian School of Mathematics - Reston, Virginia
Stitely & Karstetter, CPA's
South Lakes Seahawk Boosters
RxWellness Spine & Health
Synergy Design & Construction
TD Bank

Stitely & Karstetter CPAs provides tax, accounting, and business valuation services to small busines

12/01/2022

Significant Tax Credit For Business Owners Who Purchase Electric Vehicles

Business owners who purchase electric vehicles will be able to take advantage of a new tax credit worth up to $40,000 next year.

Last August, President Joe Biden signed The Inflation Reduction Act, which incentivizes purchasing electric cars, trucks, and other vehicles, into law. Business owners can obtain the credit, which is available for 10 years, for new vehicles purchased on or after Jan. 1, 2023.

The credit is up to $7,500 for vehicles that weigh less than 14,000 pounds and up to $40,000 for vehicles that weigh more. This 14,000-pound demarcation line includes commercial vehicles that are Class 4 and above, or largely medium- and heavy-duty trucks and buses. These would include electric vehicles and electric “mobile machinery”—which are vehicles used for construction, processing, manufacturing, farming, mining, drilling, or timbering.

Calculating the tax credit is a bit complicated. It is worth the lesser of the two: 30% of the vehicle purchase price, or the “incremental cost” compared to a similar gasoline-powered vehicle. What does “incremental cost” mean? It’s simply the difference in net price between the new commercial “clean vehicle” and what a similar vehicle with an internal combustion engine would cost. The lesser of these two calculations equals the tax credit. However, the amount is capped at $40,000.

Because the benefit is structured as a “tax credit,” the business owner must have a tax liability in order to use it (unless the organization is a nonprofit, in which case the financial benefit would arrive in the form of a check). Additionally, the business owner must take a depreciation allowance on the vehicle.

Do you have questions about these new guidelines or other business-related tax matters? Reach out to us for a free consultation: 703-802-2309

11/30/2022

Here are some tips for business owners to have a successful and smooth tax preparation experience:

All bookkeeping should be completed by the end of January at the latest. In today's age of electronic banking, sometimes you can be fully reconciled much earlier.

Make sure that your bookkeeper has reconciled all of your balance sheet accounts prior to sending your accounting data to us. This will help alleviate additional time spent on our part and money spent on your part.

If you are trying to get an accurate picture for your estimated tax payments, your bookkeeper should be able to give you financials reconciled through December by the second week in January. Not having an accurate picture of your tax liability can result in penalties and unhappy surprises come tax time. Remember, your final estimated tax payment is due by January 15th.

Plan Ahead - this will enable you to maximize your deductions, minimize your tax liability and come in for a smooth landing at tax time.

The earlier you get your completed books to us, the better. Most businesses must file by March 15th. Waiting until the last minute does not give you or us an enjoyable experience!

Have all of your bank account/loan statements, payroll reports and charitable contribution receipts ready for us. We typically ask for these at a minimum, each year.

Let us know prior to January 15th if you need help getting your books reconciled. We are happy to help before the onslaught of tax season is upon us. During the season we are NOT able to do bookkeeping-- we simply do not have the time.

We would like to help you have a stress-free, less "taxing" experience! If you don't have a bookkeeper or need a new one, let us know, we know some great ones.

Thanks for reading and Happy Holidays!
-The S&K Staff

11/29/2022

Let us assist you with our business valuation services:
- Business valuations
- Asset valuation
- Cash flow valuation analysis
- EBITDA multiples
- Market based and comparable sales analysis

To learn more about our offerings and schedule a consultation visit our website (www.skcpas.com) or call us at (703) 802-2309 today!

11/28/2022

The Art & Importance of Tax Planning

Taxes are a fact of life. Most folks handle their taxes in a reactive manner versus a proactive approach. The biggest mistake made by most people is to wait until April to deal with their taxes.They dump their tax documents on the tax preparer's desk and hope for the best. This is a definite recipe for disaster.

Tax planning is the art of arranging your affairs and organizing your finances in ways that postpone or avoid taxes. By employing effective tax planning strategies, you can have more money to save and invest or more money to spend - or BOTH!

While the process is essentially the same for any taxpayer, it may entail different types of tax strategies depending on your particular financial situation. Throughout the year there are many financial decisions that can be made that could significantly impact the amount of taxes owed. Plan transactions with taxes in mind and avoid making impulsive moves. Seek professional tax advice before pulling the trigger on significant transactions is usually money well spent.

But there's a catch! The IRS takes away all of these tax goodies at year end.

Now that we are close to the end of the year, be proactive and contact our office today to get your project setup in the Client Center. Our deadline for receiving your documents to do your tax planning is December 1st.

***Please note: For tax planning services we charge at our regular customary rates for both individual and business clients.

To learn more about our offerings and schedule a consultation visit our website (www.skcpas.com) or call us at (703) 802-2309 today!

11/25/2022

Historic Homes and the IRS
If you're rehabilitating a historic home, you may be able to claim a rehabilitation tax credit. But the devil is in the details, and it's about more than just the house being old. Click through our newsletter to learn about the conditions you need to meet.

https://newsletter.homeactions.net/archive/full_article/14427/12257092/4567734/124156

To learn more about our offerings and schedule a consultation visit our website (www.skcpas.com) or call us at (703) 802-2309 today!

11/24/2022

Happy Thanksgiving from us to you!

11/23/2022

Your company’s financial statements advertise your financial condition to the world. Bankers, potential investors, bonding companies, customers and vendors judge you not just by your performance, but by the content and presentation of your financial statements. Your access to capital and business opportunities depends on the accuracy and reliability of your financial statements.

Let us help you present the real story behind your business with our financial reporting services.

To learn more about our offerings and schedule a consultation visit our website (www.skcpas.com) or call us at (703) 802-2309 today!

11/22/2022

Our comprehensive services include:
• Income tax preparation
• Tax planning
• Business Valuation
•Business entity selection and set-up
• Financial statement preparation
• Accounting software sales and installation
• Retirement Planning
• Investment Services
• Life, Health, and Disability Insurance
To learn more about our offerings and schedule a consultation visit our website (www.skcpas.com) or call us at (703) 802-2309 today!

11/21/2022

What Retirement Plans Must Report

Once you offer retirement plans, you'll have reporting and disclosure requirements — reports and forms that the IRS and the Department of Labor want to receive. Click through our newsletter to see how your obligations depend on the type of plan.

https://newsletter.homeactions.net/archive/full_article/14427/12257092/4485241/124157

To learn more about our offerings and schedule a consultation visit our website (www.skcpas.com) or call us at (703) 802-2309 today!

11/18/2022

Economic Injury Disaster Loan Repayments

If your small business set up an Economic Injury Disaster Loan (EIDL), whether related to a natural disaster or COVID-19, it’s important that you set up repayments as soon as possible to avoid penalties and fees. You may set up your payments at this link.
You can easily set up recurring payments so that you pay back a specified amount monthly and don’t have to remember to do it. Visit this site to set it up and for more information.
In March, the Small Business Administration (SBA) extended the due date for the first EIDL loan payment from 24 months of loan origination to 30 months. For example, if your EIDL originated May 1, 2020, you now have until November 1, 2022 to make your first payment.
COVID-19 EIDL Loans have a 10-digit loan number. EIDL loans were initiated by completing an application through the SBA website. This type of loan is between the borrower and SBA directly. COVID EIDL loans are not eligible to be forgiven.
o Partial payment instructions: If you want to make a partial or installment payment, please pay using the 1201 Borrower Payment form. Enter your 10-digit EIDL loan number in the SBA Loan Number field and the amount you would like to remit as payment.
o Full repayment instructions: If you want to repay your EIDL loan in full, you are responsible for all daily accrued interest and the repayment of any Uniform Commercial Code (UCC) fees paid. Request a payoff amount prior to submitting payment on this 1201 Borrower Payment form by contacting the Service Office listed on your monthly 1201 Borrower Statement.
If you need assistance with understanding the loan repayment schedule, contact us at: 703-802-2309.

11/17/2022

What You Don't Know About Estate Planning

Do you know what estate planning really is? Some people think it's only for the very wealthy, or that they don't have to worry about it until they're old—but those are misconceptions! Click through our newsletter for the real facts on estate planning.

https://newsletter.homeactions.net/archive/full_article/14427/12257092/4567734/127998

To learn more about our offerings and schedule a consultation visit our website (www.skcpas.com) or call us at (703) 802-2309 today!

11/16/2022

Check out our bundled services customized for YOU!

This year will be our 4th season offering bundled packages for our clients. We will be customizing your monthly payment to cover your specific needs. Instead of making a big payment each tax season, you can pay us monthly by credit card and receive a suite of services to ensure we meet your tax and financial needs.

To learn more about our offerings and schedule a consultation visit our website (www.skcpas.com) or call us at (703) 802-2309 today!

11/15/2022

Employer Retention Credits – Do You or Don’t You Qualify… the Sequel!
Calling all business owners and employers!

Did you think you were up to your eyeballs in Employee Retention Tax Credit confusion? But wait, there’s more! Our federal friends have released additional guidance on the requirements to qualify under “Partial Shutdown” rules. This means more clients may qualify than under original rules. Even if your quarterly revenue increased from 2019 to 2020 and/or to 2021, you may still qualify under the new rules.

The IRS says if your business has suffered a *full or partial suspension* of operations in any calendar quarter in 2020 or 2021, then you may qualify.

What IRS deemed a partial suspension/shutdown has been less than clear in the past.

Currently, our federal friends define this as “more than a nominal portion of business operations are suspended by a governmental order.” They then define “nominal” in this new notice as less than 10% of either total gross receipts of the business operations or the total hours of service performed by all employees.

What does that mean for you? More businesses may have been indirectly impacted by a governmental order although they continued to operate. It will depend on whether or not the portions of your business that were affected by a shutdown order make up more than the “nominal” portion of your business.

What should you do next?

CONTACT US!
If we have evaluated your business in the past and you did not qualify based on revenue, but believe your business was impacted by shutdown orders, please contact us to re-evaluate.
If you did not think you qualified in the past, but based on this new information, you are not sure, let us evaluate this for you.
If you have questions and wonder if you will now qualify, give us a call or shoot us an email!

To learn more about our offerings and schedule a consultation visit our website (www.skcpas.com) or call us at (703) 802-2309 today!

11/14/2022

Your company’s financial statements advertise your financial condition to the world. Bankers, potential investors, bonding companies, customers and vendors judge you not just by your performance, but by the content and presentation of your financial statements. Your access to capital and business opportunities depends on the accuracy and reliability of your financial statements.

Let us help you present the real story behind your business with our financial reporting services.

To learn more about our offerings and schedule a consultation visit our website (www.skcpas.com) or call us at (703) 802-2309 today!

11/11/2022

Steps for a Disabled-friendly Workplace

How do you get the best employees to work at your company? Start by making your company more inclusive. Even though you are not discriminating against employees with disabilities, you might not being doing all you can to make your workplace as disabled-friendly as possible. Here are five simple steps your business can implement to make your work environment more inclusive:

- Use technology, such as speech-to-text software to help a visually impaired employee, or captioning screens for people who are deaf or hard of hearing.
Partner with a nonprofit job-training agency in your community that provides job coaching for people with disabilities. This will enable you to understand what support employees may need at your company.
Include disability awareness throughout your company so that all employees understand the value of hiring a diverse workforce. You could include this information in diversity training, focusing on disability awareness and inclusion.

- Make your office or facility an accessible environment by seeing that restrooms, hallways and storage spaces are accessible for people of all heights and mobility.

- See that your online presence is more accessible by using alt tags that translate visual images and employs captioning on videos.

Scroll through our blog to read more: https://newsletter.homeactions.net/archive/full_article/14427/12256960/4714154/45089https://newsletter.homeactions.net/archive/full_article/14427/12256960/4714154/45089

11/10/2022

Is Long-Term Care Insurance Right for You?

How will you pay for the help you'll need in caring for yourself later in life? Long-term care insurance can be a major help, but decisions surrounding it can be complex. Click through our newsletter for some insights on whether it might be right for you.

https://newsletter.homeactions.net/archive/full_article/14427/12257092/4681059/146362

11/09/2022

The Art & Importance of Tax Planning

Taxes are a fact of life. Most folks handle their taxes in a reactive manner versus a proactive approach. The biggest mistake made by most people is to wait until April to deal with their taxes.They dump their tax documents on the tax preparer's desk and hope for the best. This is a definite recipe for disaster.

Tax planning is the art of arranging your affairs and organizing your finances in ways that postpone or avoid taxes. By employing effective tax planning strategies, you can have more money to save and invest or more money to spend - or BOTH!

While the process is essentially the same for any taxpayer, it may entail different types of tax strategies depending on your particular financial situation. Throughout the year there are many financial decisions that can be made that could significantly impact the amount of taxes owed. Plan transactions with taxes in mind and avoid making impulsive moves. Seek professional tax advice before pulling the trigger on significant transactions is usually money well spent.

But there's a catch! The IRS takes away all of these tax goodies at year end.

Now that we are close to the end of the year, be proactive and contact our office today to get your project setup in the Client Center. Our deadline for receiving your documents to do your tax planning is December 1st.

***Please note: For tax planning services we charge at our regular customary rates for both individual and business clients.

To learn more about our offerings and schedule a consultation visit our website (www.skcpas.com) or call us at (703) 802-2309 today!

Videos (show all)

Live: Life as an S Corp Owner
Personal Tax Tips
Total Accounting Care
Business Tax Tips
FAQ: What if I didn't get my stimulus check?
FAQ: What are the Cares Act (Covid) retirement distribution rules for 2020?
FAQ: What are employee stock options and how are they taxed?
FAQ: What's new with charitable contributions?
FAQ: Do I have to pay taxes on PPP loan money?
FAQ: How do you measure business performance and ratios?
FAQ: What are 3 advantages of owning an S Corporation?
FAQ: What are pension plan choices for small businesses?

Telephone

Address


4460 Brookfield Corporate Drive , Suite F
Chantilly, VA
20151

Opening Hours

Monday 8:30am - 5:30pm
Tuesday 8:30am - 5:30pm
Wednesday 8:30am - 5:30pm
Thursday 8:30am - 5:30pm
Friday 8:30am - 5:30pm
Saturday 8:30am - 5:30pm
Sunday 8:30am - 5:30pm

Other Chantilly businesses (show all)
Global Surveillance Systems Inc. Global Surveillance Systems Inc.
14325 Willard Road, Ste 106
Chantilly, 20151

Global Surveillance System, Inc. (GSS) is one of the foremost national distributors of full IP/analo

QBurst QBurst
14150 Newbrook Drive, Suite 115
Chantilly, 20151

Web, Mobile, and Analytics

YellowFiber Networks YellowFiber Networks
14102 Sullyfield Cir, Suite 150
Chantilly, 20151

Yellow Fiber Networks is an innovative managed solutions provider headquartered in Reston Virginia.

Five Minute Productions Five Minute Productions
Chantilly

Add revenue-accountable marketing firepower to your business.

GreyHunt Interiors LLC GreyHunt Interiors LLC
Chantilly

GreyHunt Interiors offers clients with all budgets and needs a cohesive design . Www.greyhuntinteri

Firefighter Near Miss Reporting System Firefighter Near Miss Reporting System
Chantilly, 20151

The Fire Fighter Near Miss Reporting System (www.firefighternearmiss.com) is a free, all-hazards, voluntary, confidential, non-punitive and secure reporting system with the goal of...

TRAINING SOLUTIONS, Inc. TRAINING SOLUTIONS, Inc.
PO Box 220100
Chantilly, 20151

Proudly training, supporting, and serving our clients since 1995. We provide people skills training

iENGINEERING Corporation iENGINEERING Corporation
24805 Pinebrook Road, Ste 204
Chantilly, 20152

iENGINEERING Corporation

TekMasters TekMasters
4437 Brookfield Corporate Drive Ste 201A
Chantilly, 20151

TekMasters is a federal contracting company focused on providing premier services and trusted solutions in the areas of Administrative Support, Analysis, Operations, IT & Software ...

Project Solutions Group Project Solutions Group
3725 Concorde Pkwy, Ste 105
Chantilly, 20151

PSG is about providing SOLUTIONS to clients. We specialize in Project Management, Construction Management and Relocation Management.

Compu Dynamics, LLC Compu Dynamics, LLC
14111 Park Meadow Drive , Suite 130
Chantilly, 20151

Compu Dynamics is a leading provider of critical power and precision air conditioning products, desi

The Joyce Agency The Joyce Agency
3933 Avion Park Court, SuiteB102B
Chantilly, 20151

Manufacturers Rep for Plumbing and HVAC Products