Thompson Greenspon

Metro DC CPA firm and a trusted name in audit, accounting, tax, and advisory services for businesses and individuals.

Located within the Washington, DC metropolitan area in Fairfax, VA, Thompson Greenspon has become a trusted name in audit, accounting, tax, and advisory services and providing forward-thinking solutions to help our clients improve their business and achieve their goals.

01/05/2024

🌟 We're excited to share that Managing Principal, Carolyn Quill, has been named a 2024 Top Financial Adviser by Washingtonian magazine! 🎉 Her inclusion on this esteemed list is a testament to her outstanding expertise and strong recommendations from industry peers. Congratulations, Carolyn! 🏆

Streamlining Business Taxation: IRS Expands Online Services for S Corporations and Partnerships 01/05/2024

The IRS is making life easier for S-Corporations and Partnerships with expanded online services! Read our blog for more information on the newest phase of the IRS online self-service tool - the Business Tax Account.

Streamlining Business Taxation: IRS Expands Online Services for S Corporations and Partnerships The Internal Revenue Service (IRS) has unveiled the second phase of its online self-service tool – the Business Tax Account.

Key Tax Due Dates in 2024: Reporting 2023 Taxes and Estimating 2024 Tax Payments 01/04/2024

Stay ahead of the tax game with our latest blog post on important deadlines in 2024 for reporting your 2023 taxes and estimating 2024 tax payments.

Key Tax Due Dates in 2024: Reporting 2023 Taxes and Estimating 2024 Tax Payments Key Tax Deadlines in 2024: Here are the current statutory due dates for tax reporting for the 2023 tax year.

When Are Sponsorship and Advertising Payments Subject to Tax? 01/03/2024

Even if you’re well-versed in potential UBIT traps, your nonprofit may not know the tax rules for sponsorship payments vs. advertising payments and what distinguishes one from the other. Read on for some answers.

When Are Sponsorship and Advertising Payments Subject to Tax? Even if you’re well-versed in potential UBIT traps, your nonprofit may not know the tax rules for sponsorship payments vs. advertising payments and what distinguishes one from the other.

IRS Announces Generous Employee Retention Credit Voluntary Disclosure Program 01/02/2024

📢 Are you an employer who claimed the Employee Retention Credit (ERC) and have concerns about potential errors? The IRS is offering assistance with the new ERC Voluntary Disclosure Program.

IRS Announces Generous Employee Retention Credit Voluntary Disclosure Program The IRS announces a generous employee retention credit voluntary disclosure program with a deadline of March 22, 2024.

Tax Fundamentals for Construction Businesses in the New Year 01/02/2024

Construction businesses need a comprehensive strategy for mitigating the risk of a hefty tax bill. Here are some fundamentals to consider:

Tax Fundamentals for Construction Businesses in the New Year Construction businesses need a comprehensive strategy for mitigating the risk of a hefty tax bill. Here are some fundamentals to consider.

01/01/2024

🎉 Cheers to a year filled with success, growth, and shared achievements! 🌟 Wishing you all a Happy New Year! 🥂

2024 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers 12/26/2023

In the first quarter of 2024, businesses face several tax-related deadlines. Here are some key due dates and obligations.

2024 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers In the first quarter of 2024, businesses face several tax-related deadlines. Here are some key due dates and obligations.

12/26/2023

Download our latest CICPAC resource, 2023 Tax Planning Opportunities for the Construction Industry, for an updated summary of tax changes potentially impacting contractors. https://hubs.la/Q02dqDCc0

Renting to Relatives? Beware of the Tax Pitfalls of Family Member Rentals 12/21/2023

Renting to relatives? As rents continue to rise in many parts of the country, renting property at a discount to family members may seem like a good way to help relatives in need. But these arrangements are fraught with tax perils. A misstep can lead to the loss of significant tax deductions. This article reviews the tax treatment of rentals to unrelated parties and examines how renting to family changes the rules.

Renting to Relatives? Beware of the Tax Pitfalls of Family Member Rentals Tax treatment of rentals to unrelated parties and how renting to family changes the rules.

Nonprofits: Consider These 2 Issues Before Searching for New Staffers 12/20/2023

🔎To hire or not to hire in 2024?🔍 For nonprofit employers, the decision generally comes down to two major considerations. Learn what they are.

Nonprofits: Consider These 2 Issues Before Searching for New Staffers To hire or not to hire in 2024? For nonprofit employers, the decision generally comes down to two major considerations. Learn what they are.

How Construction Company Owners Can Build a Succession Plan Framework 12/19/2023

Construction business owners: Have you started work on your succession plan? It’s never too early to lay the foundation.

How Construction Company Owners Can Build a Succession Plan Framework Construction business owners: Have you started work on your succession plan? It’s never too early to lay the foundation.

12/15/2023

Thompson Greenspon is pleased to announce the election of Carolyn C. Quill, CPA, JD, LL.M., as its new Managing Principal, effective January 1, 2024. As Lead Tax Principal for Thompson Greenspon, Carolyn brings a wealth of experience and expertise to her new role and is set to lead the firm towards continued growth and success! Join us in congratulating Carolyn on her new role! https://hubs.la/Q02d5Xq_0

12/14/2023

We are delighted to share that Thompson Greenspon has made a heartfelt donation to Toys for Tots for our annual holiday drive! 🎁 Join us in spreading joy and making this season brighter for children in need. Together, we can make a difference!✨

Does a Charitable Remainder Trust Belong in Your Estate Plan? 12/14/2023

When it comes to tax-saving strategies, sometimes the current economic and financial environment can make one strategy more effective than another. That’s certainly the case with a charitable remainder trust (CRT). Indeed, CRTs are generally more attractive when interest rates are higher — and the prime lending rate is currently at its highest level since 2001. This article details how a CRT works and why it can benefit a person’s estate plan.

Does a Charitable Remainder Trust Belong in Your Estate Plan? How a CRT works and why it can benefit a person’s estate plan.

Why Your Nonprofit Shouldn’t Operate Like a For-Profit Business 12/13/2023

It’s not always easy to calculate a nonprofit’s risk of falling afoul of the commerciality doctrine. We explain the threat and some risky practices and activities in your latest nonprofit blog here:

Why Your Nonprofit Shouldn’t Operate Like a For-Profit Business It’s not always easy to calculate a nonprofit’s risk of falling afoul of the commerciality doctrine. We explain the threat and some risky practices and activities.

A Look Into the Look-Back Method 12/12/2023

If you are a construction contractor reporting revenue from long-term contracts on the percentage-of-completion method (PCM), you may be required to file Form 8697 – Interest Computation Under the Look-Back Method for Completed Long-Term Contracts. Learn more about the look-back method here:

A Look Into the Look-Back Method If you are a construction contractor reporting revenue from long-term contracts on the percentage-of-completion method (PCM), you may be required to file Form 8697 – Interest Computation Under the Look-Back Method for Completed Long-Term Contracts.

A Company Car Is a Valuable Perk: But Don’t Forget About Taxes 12/11/2023

For many key employees, the use of a company car is a cherished perk. But before you hand over the keys, make sure you understand the federal tax rules.

A Company Car Is a Valuable Perk: But Don’t Forget About Taxes For some employees, the use of a company car is a cherished perk. But make sure you understand the federal tax rules.

Navigating the IRS Employee Retention Credit Landscape: 20,000 Disallowance Letters Mailed as Scrutiny Intensifies 12/08/2023

🔍 Navigating the IRS Employee Retention Credit Landscape: 20,000 Disallowance Letters Mailed. Our latest blog post breaks down the IRS's expanded efforts to combat questionable ERC claims. Our team of experts is here to guide you through the complexities. Stay compliant, stay informed!

Navigating the IRS Employee Retention Credit Landscape: 20,000 Disallowance Letters Mailed as Scrutiny Intensifies Navigating the IRS Employee Retention Credit Maze: 20,000 Disallowance Letters Mailed

It’s Important to Track Tools and Small Equipment 12/08/2023

The technology for tracking tools and small equipment has become more cost-effective and secure in recent years. Here’s how to use a tracking system to help protect these assets and your company’s bottom line.

It’s Important to Track Tools and Small Equipment The technology for tracking tools and small equipment has become more cost-effective. Here’s how to use a tracking system to help protect these assets and your company’s bottom line.

Year-end Tax Planning Strategies for Businesses 12/07/2023

As 2023 comes to a close, now is a good time for businesses to consider year-end moves that can help reduce their tax bills. This article explores several year-end tax planning strategies for businesses to consider:

Year-end Tax Planning Strategies for Businesses Year-end tax planning strategies for businesses to consider. A brief sidebar answers the question of whether companies can write off bad business debts.

When Do 501(C)(6) Organizations Risk Their Exempt Status? 12/06/2023

Not-for-profit trade associations are organized to promote the common interests of their members. But to maintain their 501(c)(6) tax-exempt status, they must observe certain rules.

When Do 501(C)(6) Organizations Risk Their Exempt Status? Not-for-profit trade associations are organized to promote the common interests of their members. But to maintain their 501(c)(6) tax-exempt status, they must observe certain rules.

Contractors: Watch Out for Occupational Fraud 12/05/2023

Construction businesses can be afflicted by occupational fraud in various places, including in the office and on the jobsite. That’s why they need to be particularly diligent when it comes to looking for and reacting to schemes. This article looks at some data from the most recent report published by the Association of Certified Fraud Examiners (ACFE) to help contractors know where to look.

Contractors: Watch Out for Occupational Fraud Construction businesses can be afflicted by occupational fraud in various places, including in the office and on the jobsite.

6 Ways Construction Companies Can Strengthen Cybersecurity 12/05/2023

Cybersecurity matters for construction companies, too. Here are six ways to fortify your defenses.

6 Ways Construction Companies Can Strengthen Cybersecurity Cybersecurity matters for construction companies, too. Here are six ways to fortify your defenses.

There Still May Be Time to Reduce Your Small Business 2023 Tax Bill 12/04/2023

The holiday whirlwind has begun. There may be ways your small business can save on 2023 taxes. But you must act fast.

There Still May Be Time to Reduce Your Small Business 2023 Tax Bill The holiday whirlwind has begun. There may be ways your small business can save on 2023 taxes. But you must act fast.

Best Practices for Effective Board Meeting Minutes 11/29/2023

Nonprofit board meeting minutes are only as good as the details they contain. You’ll want to provide all necessary information without going overboard. Here are some tips to keep in mind.

Best Practices for Effective Board Meeting Minutes Nonprofit board meeting minutes are only as good as the details they contain. You’ll want to provide all necessary information without going overboard. Here are some tips to keep in mind.

Tired of HR Hassles? Consider a PEO 11/28/2023

Sometimes the most difficult part of running a business is dealing with payroll, benefits, and other such matters. Enter the professional employer organization (PEO). PEOs are outsourcing providers that can relieve construction businesses, as well as other types of companies, from the hassles of human resources. This article examines the advantages and risks of partnering with one.

Tired of HR Hassles? Consider a PEO PEOs are outsourcing providers that can relieve construction businesses, as well as other types of companies, from the hassles of human resources.

Key 2024 Inflation-Adjusted Tax Parameters for Small Businesses and Their Owners 11/27/2023

Before you know it, 2024 will be here. The IRS recently announced inflation-adjusted amounts for next year that are relevant to small businesses. https://hubs.la/Q029Cbxv0

Key 2024 Inflation-Adjusted Tax Parameters for Small Businesses and Their Owners The IRS recently announced inflation-adjusted amounts for 2024 that are relevant to small businesses.

How to Get the Financing Your Nonprofit Needs 11/22/2023

If your nonprofit needs financing for a project, the options may seem intimidating: Bank loan? Bond issue? Crowdfunding? Other? We break it down for you.

How to Get the Financing Your Nonprofit Needs If your nonprofit needs financing for a project, the options may seem intimidating: Bank loan? Bond issue? Crowdfunding? Other? We break it down for you.

Joint Ventures Offer Both Revenue and Risk 11/21/2023

They’re hardly new to the industry, but joint ventures remain a tricky move for any construction business that’s largely unfamiliar with the process and experience. A carefully chosen and well-executed joint venture can indeed be profitable, but there are significant risks to consider. This article explores why contractors typically opt for a joint venture and discusses some of the common challenges involved.

Joint Ventures Offer Both Revenue and Risk Explore why contractors typically opt for a joint venture and some of the common challenges involved.

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

Partnering With You for Your Success

Your success is our goal. At Thompson Greenspon we offer award-winning service and pro-active solutions, customized to meet your specific tax, audit, accounting and consulting needs.

Personal relationships are important to us. Since our founding in 1956, the firm has advanced the goal of having you work with the same dedicated team members year after year. As one of the largest CPA firms in the DC metro area, we deliver industry-leading expertise that is competitive with national and regional firms.

Telephone

Address

4035 Ridge Top Road Ste 700
Fairfax, VA
22030

Opening Hours

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

Other Fairfax accountants (show all)
SOTAX LLC SOTAX LLC
Fairfax, 22031

CAA - Certified Agent Authorize by IRS Individuals and Business Tax Preparation Payroll & Bookkeeping Efile

NumberSquad NumberSquad
10400 Eaton Place, STE 355
Fairfax, 22030

NumberSquad (www.NumberSquad.com) All-inclusive Financial Package Designed for the Self-Employed

GSS Advisors GSS Advisors
Fairfax

Mainly focus on - Tax Planning | Tax Preparation | Tax Resolution | Bookkeeping | Payroll

Rabah Tax Rabah Tax
11166 Fairfax Boulevard Ste 500-F 3
Fairfax, 22030

EasyUcr EasyUcr
4140 Timber Log Way
Fairfax, 22030

Easy UCR is part of The Paradigms Inc and we have established in the fields of electronic tolling, taxation, electronic logging solutions, education, healthcare, e-commerce, and co...

Dean Li and Magner, LLC Dean Li and Magner, LLC
3949 Pender Drive, Suite 120
Fairfax, 22030

Individual, small business, estate and trust income tax preparation.

Intellisource Financial Services CPA Intellisource Financial Services CPA
11208 Waples Mill Road, Suite 109
Fairfax, 22030

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

Simple 2290 Simple 2290
4140 Timber Log Way
Fairfax, 22030

Simple 2290 was developed by a dedicated team of IT and Tax experts with the sole purpose of making

Eminent Equity Advisors Eminent Equity Advisors
Fairfax

At Eminent Equity Advisors, we are passionate about helping businesses succeed.

Jackson Hewitt Tax Service - Northern Virginia Jackson Hewitt Tax Service - Northern Virginia
3049 Nutley Street
Fairfax, 22031

Jackson Hewitt, Tax Service in Fairfax, Warrenton and Culpeper Virginia