Intellisource Financial Services CPA

Intellisource Financial Services offers customized accounting and tax services for small businesses


Did you support a local coffee shop yesterday?

If not, you still can!

The world is celebrating all week, so skip the chain and opt for a family-owned business!

And if you're a local small business and finding yourself in a bind and need help getting back on track, give us a call.

We've got your back, and you've got our business! 😊


Now this is a national holiday we can get behind! β˜•οΈ

Today, many coffee shops are giving away free coffee, so check out what the local spots are doing near you!

And for good measure and small business support, tag your favorite small coffee shops in the comments below!

We'd love to check them out in the name of National Coffee Day! 😊


Did you know that 50 years ago a stamp cost 8 cents? βœ‰οΈ

Today, that same stamp costs 55 cents. That's a 3.9% price increase per year! πŸ‘€

Simply put, that is INFLATION.

Over the last 15 years, the increasing cost of goods and services has been reasonable and barely a topic of conversation.

However, inflation has recently become a hot topic and the rising cost of day-to-day items has become more noticeable.

So, should you be concerned?

That depends.

Most financial plans and financial analysis reports anticipate long-term inflation, so investment portfolios are created and managed annually to combat its effects.

Now may be a good time to review these financial tools and investment strategies to see how it all works.

So, you don't have to be too concerned, just more educated!


We've got good news 😊

You might be paying too much in taxes, but...

If you work with us, we can help!

Working with a trusted partner is the first step toward saving you money on your taxes.

Give us a call or send a DM and let's get started ASAP.

Oh, and tell us: If you had some extra money, what would you do with it? ⬇️


Everyone deserves a little self-care β€” even CPAs!

Now that the September 15th deadline has come and gone, we think it's about time we did a little something for ourselves.

So, give yourself some grace, block out a little quiet time for yourself, or just treat yourself to something special.

Remember: No one can run on a half-empty tank, so fill yourself up!

Oh, and have a great weekend. 😊


To piggyback off our post yesterday, let's talk audit support! πŸ§‘β€πŸ’»

Our Intellisource staff has expertise in all phases of the audit cycle.

We will prepare your accounting staff for an upcoming audit or represent your company directly with the auditors. Whatever the need, we have extensive knowledge in this area.

We can:

βœ“ Prepare audit schedules

βœ“ Furnish supporting documentation

βœ“ Ensure internal controls and processes are supported and documented

βœ“ Respond to audit inquiries

βœ“ Provide analytical support

βœ“ Perform procedural walk-throughs for audits

βœ“ Be the β€œgo-to” person for the auditors

Everything you need, all in one place! πŸ‘


It's been a while, but who's ready for a Tax Tip Tuesday? πŸ™‹πŸ»β€β™€οΈ

Your tax return will only be as good as your records, so keep ALL of your business receipts over the course of the year.

We're talking major purchases all the way down to that lunch meeting β€” every single receipt should be saved!

If you're missing important receipts and documentation, not only are you hurting yourself at tax return time, but you're also in danger of failing an audit and potentially owing more than you anticipated.

To make sure this doesn't happen to you, give the Intellisource team a call!

We are Quickbooks certified and can organize all of your financials and even train you and your staff.

Give us a call today to get started!


Market Update! πŸ“ˆ

We came into this year expecting a stronger economy and robust stock market, but even we're surprised at just how resilient things have been!

A record-breaking 2nd quarter earnings season saw more than 86% of S&P 500 companies beat their consensus earnings estimates β€” the highest ever recorded and well above the 75% five-year average. πŸ™Œ

Another reason stocks have been so strong?

The Federal Reserve (Fed) monetary policies.

The Fed is expected to begin to taper its monthly bond purchases, but it appears to be committed to leaving rates low for the foreseeable future. πŸ‘

Still, domestic consumer confidence has taken a hit recently due to multiple factors, which could lead to a weaker-than-expected third quarter.

Looking ahead to the end of the year, we remain positive but believe investors should be on alert for potential seasonal volatility.

For more information and for help making the best decisions for your financial future, give us a call any time.


Now that the final tax deadline has passed, it's time to start preparing for the new season!

(Yes, it's right around the corner! πŸ‘€)

To make the tax process as seamless as possible, make sure you have the right accountant in your corner.

At Intellisource Financial, our commitment to our customers is what sets us apart.

We're not just in the financial services business; we're also in the business of building relationships.

And we welcome the opportunity to work with you! 🀝


Not all superheroes wear capes! 🦸

Some carry briefcases and can work magic in a spreadsheet! πŸ˜†

That's right, we're talking about your friendly neighborhood CPA's who today, on September 15th, are the real heroes!

Many will be pulling all-nighters to get their clients' taxes done in time, so thank your accountant today!

(We need all the support we can get. πŸ€ͺ)


So, you're starting a new business!

(Yay! πŸŽ‰)

One of the first things you'll have to decide is the best business entity for your organization β€” a big decision that has far-reaching legal and tax consequences.

When you work with the Intellisource team, we'll assess the facts and recommend the proper entity type (S-Corp, LLC, etc.) for your situation.

So, give us a call and let's talk through your options, so you can get back to the business of starting your new business! πŸ‘


Did you know???

Both Apple and Amazon started in garages.

You know, a few scrappy guys with a genius idea working with what they had.

(Which wasn't much at the start! πŸ˜‰)

Let these humble beginnings be a lesson that, to achieve our dreams, we all have to start somewhere,

So, take the first step today β€” even if it's a small one!

Trust us, your future self will thank you.


Life Insurance Awareness Month?

Who knew that was a thing?! πŸ˜†

Today, take a minute to make sure your insurance is in order by:

βœ… Updating your beneficiaries. Any life changes such as marriage, divorce, or loss of a loved one may create a need for adjusting your beneficiaries.

βœ… Reviewing ownership and beneficiary designations for maximum tax efficiency.

βœ… Evaluating your policy for a long-term care rider. Many newer, hybrid policies can offer benefits while living or upon death.

If you need assistance or advice regarding your insurance, please send us a DM or give us a call at 703-448-7307.


The end of the fiscal year is upon us, which means tax season isn't far behind! 😬

There's no time like the present to start getting your finances in order β€” and the IFS team can help!

We offer a comprehensive range of tax services for individuals, corporations, S-corporations, Limited Liability Companies (LLC), partnerships, non-profits, and trusts.

Simply give us a call today and we'll set you on the right path so you're ready to rock come tax season!


🚨 Market Update: COVID-19 Edition! 🚨

The highly transmissible Delta variant of COVID-19 could play a part in an economic drag through the end of the year.


πŸ‘‰ While we're unlikely to see a new wave of widespread shutdowns in the U.S., there may be added restrictions.

πŸ‘‰ Even without government mandates, individuals may modify their behavior, potentially slowing the rate of economic growth.

πŸ‘‰ Supply chain disruptions are to be expected.

Still, not all news around the Delta variant has been bad from a market perspective.

We may even be close to the inflection point where much of the bad news has been priced in and markets start looking past the Delta variant’s growth impact.

Bottom line: Despite the greater transmissibility of the Delta variant and increased health risk for those not vaccinated, we believe the U.S. and global economy will continue to expand over the rest of 2021.

Timeline photos 09/06/2021

Happy Labor Day from all of us here at Intellisource!

We know how hard you work, so we hope you're enjoying your much-deserved long weekend.

Come to think of it, who thinks every weekend should be a little longer? πŸ˜‰


Another successful week in the books! πŸ‘

Before we head out for the holiday weekend, let's take stock of where we're at.

πŸ€” How is your business doing?

πŸ€” Is everything in order and on track?

πŸ€” Is there anything we can do to help?

Take a minute to think about these questions and give us a call if you need backup!

And then go and enjoy the long weekend! 😎


The fourth quarter is right around the corner!

And you know what that means?

A new tax season is upon us!

(As your friendly CPA, we'll continue to remind you of this until we're blue in the face. πŸ˜†)

As you prepare, a quick note on family caregiving:

The average family caregiver spends about $7K a year on household, medical, and other costs related to caring for a loved one.

Luckily, federal tax law allows taxpayers to claim up to $500 as a nonrefundable "credit for other dependents," including elderly parents.

There are qualifiers and limitations to this credit, so give us a call if you have questions!

Timeline photos 09/01/2021

Estate planning can be complicated. πŸ₯΄

One of the tools in an estate planner’s toolbox is a trust designed to avoid estate taxes.

However, many trusts are irrevocable, meaning once you create them, you can't change them β€” a fact that can deter people from making tax savings gifts.

Enter the Spousal Lifetime Access Trust (SLAT).

A SLAT is an estate planning tool that provides potential tax reduction features but with a twist if set up correctly.

Even if the trust is irrevocable, the assets in the SLAT could be made available to a spouse while living if you:

πŸ‘‰ Are concerned about the impact of state or federal estate taxes

πŸ‘‰ Feel that you are in a position to gift assets

πŸ‘‰ Own life insurance policies in the name of you or your spouse

To make sure you're setting up your estate properly, give us a call today, and let's walk through your options.


Welcome, September! πŸ‘‹

As we start off the new month, a friendly reminder:

All Q3 tax payments are due on September 15th!

For our Partnerships and S-corps, this is your filing deadline as well. (No more extensions are accepted after this day.)

As this deadline approaches, we CPAs get busier, so get your paperwork in sooner rather than later!

We appreciate the extra consideration and look forward to helping with all your tax needs.


Estate planning can be complicated. πŸ₯΄

One of the tools in an estate planner’s toolbox is a trust designed to avoid estate taxes.

However, many trusts are irrevocable, meaning once you create it, you can't change it β€” a fact that can deter people from making tax savings gifts.

Enter the Spousal Lifetime Access Trust (SLAT).

A SLAT is an estate planning tool that provides potential tax reduction features but with a twist if set up correctly.

Even if the trust is irrevocable, the assets in the SLAT could be made available to a spouse while living if you:

πŸ‘‰ Are concerned about the impact of state or federal estate taxes

πŸ‘‰ Feel that you are in a position to gift assets

πŸ‘‰ Own life insurance policies in the name of you or your spouse

To make sure you're setting up your estate properly, give us a call today, and let's walk through your options.


It's been an exciting week for Fairfax, Prince William, and Loudoun Counties as school is officially back in session! πŸ“š

We're sending all the good vibes to the students, teachers, staff, and parents as we embark on another not-so-normal year.

You got this! πŸ‘Š


FACT 1️⃣ : Staying up-to-date with accounting rules and system software is critical to the success of your team.

FACT 2️⃣ : Having a training plan and schedule for new staff members will ensure their successful transition and assimilation into your organization.

Yet it's still incredibly common for businesses to neglect these important steps. πŸ™„

That's where the Intellisource Financial team comes in!

We can provide the training services that your staff members need, be it hands-on training or written reference documentation to support everyday operations.

So, what are you waiting for? Give us a call today!


Who's ready for a quick Tuesday tip? πŸ™‹β€β™‚οΈ

Tax season may seem like a long way off, but it will be here before we know it!

To make sure you're prepared, block out some time each week to get all of your necessary paperwork in order, organize receipts, and avoid letting invoices pile up.

An easy way to keep everything organized and accounted for is through QuickBooks. The program will categorize and reconcile your bank accounts and credit cards, and make sure everything is up-to-date when you need it.

If you've never used the software before, give us a call. We're certified QuickBooks Pro advisors, and offer training for you and your staff.


Never underestimate the power of an all-star accounting team! 🌟

Proper accounting for your business provides vital information regarding:

πŸ‘‰ Cost and earnings

πŸ‘‰ Profit and loss

πŸ‘‰ Liabilities and assets for decision making

πŸ‘‰ Planning and controlling processes

Moreover, tax reporting agencies require you to keep books at a minimum level that tracks income and expenditure.

So, as you can see, having an experienced accounting team is kind of a big deal. πŸ˜‰

Give us a call with any inquiries or questions you may have. We're ready and standing by!


6 months and counting.

That's the current monthly winning streak for the S&P 500 Index. πŸ™Œ

To take that a step further, this key equity benchmark has posted gains in 13 of the last 16 months, dating back to the March 2020 low.

Last month, with over 60% of S&P 500 companies reporting results, 88% have beaten their earnings estimates. This would be the highest ever recorded if it stands β€” and well above the 75% five-year average! πŸ‘€

Looking ahead, our stock market outlook remains positive as fundamental drivers have been robust.

That said, investors may want to double check their allocations against their risk tolerance. Getting too far out over one’s skis is never a good idea.

Every month we send market updates, tax tips, and info β€” straight to your inbox! πŸ“₯


We've all heard the saying before:

"By failing to prepare, you're preparing to fail."

And this especially goes for starting a new business!

You need a plan, and market research helps you create one!

By conducting market research, you can determine whether there’s a fit for your idea and whether it’s something people will actually pay you for.

To do this, ask the following questions:

πŸ€” Who is my ideal customer?

πŸ€” What are their spending habits?

πŸ€” What is the market like?

πŸ€” Who are my competitors?

πŸ€” What are my opportunities to grow, build out, and possibly shift my business down the road?

By answering these questions, you can make a plan for your business that not only suits your vision, but suits the potential clients that will determine your success.

If you're up to your eyeballs in every other aspect of starting a business, leave the market research to us!


Starting a new business?

(Congratulations! πŸŽ‰)

Here's a simple checklist to help get you started:

βœ… Conduct market research

βœ… Write your own business plan

βœ… Choose a business structure

βœ… Pick a business name

βœ… Register your business

βœ… Get federal and state tax IDs

This may feel a little daunting at first, but that's what we're here for.

Give us a call any time, and let's get you started on the road to success!


Did you know??

We can help you hire an accounting team for your business!

Accounting is a key component of any successful small business as it helps you to accurately keep track of your financial performance.

But you don't have to go it alone!

This is our area of expertise, so let us set you up for future success!

Timeline photos 08/11/2021

We've all been there...

You're living your life when β€” BAM! β€” out of nowhere you get slammed with a large unexpected expense.

(That's life, right? πŸ₯΄)

While these things will inevitably happen, it doesn't mean you can't prepare yourself.

Our advice: Develop and sustain a savings plan that will help you endure emergency expenses.

Here's how:

🌟 Create a financial plan and stick to it. Consistent saving will be very helpful for future expenses.

🌟 Start an emergency fund. This is not your "fun account," but your back-up plan.

🌟 Pay yourself first. Have a set amount of funds transferred from your paycheck to your savings automatically.

So, would you be ready tomorrow if an emergency came up?

If you answered no, give us a call and let's figure out how we can help get you on track.


To all you workaholics out there, rejoice! πŸ‘

It's !

Consider this your free pass to put down the to-do list and take it easy.

However, you only get a pass if you have a trustworthy accountant at your disposal! πŸ˜‰

So, give us a call and earn yourself a lazy day!

Photos from Intellisource Financial Services CPA's post 08/09/2021

Are you ready to retire? πŸ€”

Preparing for retirement is about more than just nest eggs and vacation planning.

Retirement requires a new mindset and a new way of thinking.

Even if you feel ready to retire financially, β€œfinancial” readiness and β€œmental” readiness are two very different things as you approach this major milestone.

At Intellisource Financial, we understand that a successful retirement is about more than just what you have in your bank account.

Through careful conversation and contemplation, we can work together to find the joy in the next chapter β€” whether that's right now or down the road.

Together, we'll make sure you are prepared both financially and mentally for whatever lies ahead.


Raise your hand if you're running a family business! πŸ–

Sometimes it takes a village to make your dreams come true!

And what better "village" than family?!

Timeline photos 08/04/2021

Reconciliation is a major part of your bookkeeping services. ✍🏻

This is the fundamental accounting process that ensures the actual money spent or earned matches the money leaving or entering an account at the end of a fiscal period.

And we can't stress the importance of it enough!

If you're finding inconsistencies regularly, it's time to re-think, adjust, and fine-tune your accounting practices.

Unsure of where to go from here? Give us a call any time and let's see how we can help.


Tuesday Tip! 🌟

Are you a small business owner?

If so, did you know that you should be paying yourself back for business expenses? And be using your business account while you're at it!

To make this easy, use the same process your employees do:

πŸ’³ Keep track of all your expenses

πŸ“† Always include the date, vendor, and purpose on a spreadsheet

🧾 Attach all receipts

πŸ’° Pay yourself with a business check for the exact amount

While this may seem like a bit of a nuisance, it will guarantee your bookkeeper deducts the expenses since they were paid with a check from the business account.

If you ever have any questions in regards to your small business and keeping records, give us a call any time.

This is what we do and we're happy to help!


To run a small business successfully, you absolutely need all of these qualities. ☝️

But you also need a strong support system. πŸ’ͺ

Fortunately, that's where we come in!

Running a small business is a lesson in patience and it can take time to find success.

Let us help speed up that process and take some of the weight off your shoulders!

Give us a call today to get started.


Are you having trouble defining accounting processes? 😬

Is your accounting staff doing the work, but there's no documentation to support the process? 😬😬

What would happen if you lost your accountant and no one knew how to process a payroll check? 😬😬😬

The Intellisource Financial team can help define your procedures and get them documented in a way that's clear and easy for your entire staff to understand.

We can:

βœ“ Document processes and controls to support an audit

βœ“ Assist in processing form development and correspondence for company employees (travel expense reports, timecard processing, etc.)

βœ“ Develop user manuals and quick reference guides for system and accounting processes

βœ“ Evaluate your current processes and make recommendations for improvement

So, if you need help fine-tuning your policies, look no further than the Intellisource team!

Call or DM us today!

Timeline photos 07/28/2021

🚨 529 Plan Update! 🚨

One of the most effective ways to save for education-related expenses is through a 529 plan.

However, recent legislation made significant changes to how 529 plans can make saving for college even more advantageous for families and grandparents.

Starting in the 2023-2024 academic year, students no longer need to disclose cash support. This means grandparents can contribute to their grandchildren's education without affecting eligibility for need-based financial aid.

529 plans also offer grandparents gifting and estate planning benefits. Contributions to plans are considered gifts and are removed from the owner's taxable estate, but the owner maintains control.

These contributions can be:

πŸ‘‰ Front-loaded in the amount of five times the annual exclusion

πŸ‘‰ $75,000 for individuals and $150,000 for joint filers

πŸ‘‰ Made in a single year without gift tax as long as no other contributions to that beneficiary are made during the five-year calendar period

πŸ‘‰ Done for as many beneficiaries as the contributor desires

Would this be a suitable strategy for you?

Give us a call today and we can help guide you through it!


Are you a small business owner?

If so, have you ever made financial projections for your business?

We recommend it!

Financial projections can help you:

πŸ’² Estimate future income and expenses, so you can anticipate if you'll need financing or should make capital expenditures

πŸ’² Better predict cash flow and determine when to change pricing or production plans

πŸ’² Provide important financial information to external stakeholders if you seek a loan or funding, or if the business is the target of an acquisition

By taking these steps to establish strong accounting processes from the beginning, you'll drastically increase the likelihood of your long-term success.

If you're in need of help in this area, we offer forecasting and budgeting services.

Give us a call or send a DM any time and let's get started!


We're throwing out wisdom on this Monday morning, so listen up!

When it comes to your business and your personal life, choose your inner circle wisely.

The people closest to you will have a major impact on your day-to-day success, so choose those who will support your goals, your values, and your success.

And, of course, choose a good accountant, too! πŸ˜‰

Want your business to be the top-listed Accountant in Fairfax?
Click here to claim your Sponsored Listing.

Financial help for small business

Intellisource Financial offers a full suite of financial accounting and tax services.

Our technical expertise and services offer business owners insight into their company’s financial activity and performance. We provide the analysis and reporting necessary for you β€” and others within your organization β€” to be able to make sound, timely business decisions.

We also offer a comprehensive range of tax services for individuals, corporations, S-corporations, Limited Liability Companies (LLC), partnerships, non-profits, and trusts.

Finally, if you need more than bookkeeping, Intellisource offers C-Level Services, developing a deep understanding of your business and becoming an integrated and highly trusted member of your team in order to provide strategic financial advice that will enable you to meet your growth and performance goals.

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11208 Waples Mill Road, Suite 109
Fairfax, VA

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

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