Prosper Tax and Financial Services

Prosper Tax and Financial Services

No annoying tax professional lingo. Just straight, authoritative and friendly expert advice. CPA Firm serving businesses and individuals for 9 years.

We provide the best refund, best service and accurate filing guaranteed. Friendly and accessible. Unlimited tax planning and support for clients for no extra fee.

Operating as usual

[03/15/17]   You know how you always hear that the IRS won't contact you by phone? Well, this year, that is all set to change.

Beginning this spring, the IRS will contract with outside debt collection agencies to try to bring in more bacon to the IRS coffers. And they will be calling.

If you owe the IRS significant money, you may receive a letter in the mail that looks like this: http://bit.ly/2nsLSjA. Such notices include a special "Taxpayer Authentication Number", so that if you DO receive a phone call, you have a way to verify that it is a legit call and not a scammer. Share and help spread the word!

www.dontmesswithtaxes.com 03/14/2017

$1 billion awaiting taxpayers who didn't file 2013 returns

April 18th isn't just the deadline for filing this year's taxes, but taxes for your 2013 return as well (in case you *forgot* to file those). If you want your 2013 refund, you'll need to file before then.

www.dontmesswithtaxes.com Could you use $763? The IRS could have that much or more just waiting for you. It's yours as long as you don't miss the 2013 tax return tax deadline.

[03/13/17]   With the increased penalties associated with the ACA in 2017, and all of the other changes every year, filing your taxes on your own is not for the faint of heart -- even with nice-looking softwares on the market which purport to make it easy for you.

But that's what we're here for. Let us be your easy button.

[03/10/17]   "We are not retreating -- we are advancing in another direction." - Douglas MacArthur

Sometimes it's tempting to feel like a failure when something doesn't go like we expected and we need to change our plans mid-stream. That's actually called good strategy.

[03/09/17]   Why are you procrastinating? Forty days left to file! Get your refund coming.

[03/07/17]   Know this: The IRS will never initiate contact with taxpayers via email about a bill or refund. So don't click on anything that says it's from the IRS, because it almost certainly is not.

Nytimes 03/06/2017

Losing a Fortune Often Comes Down to One Thing: Family

There are many lessons to be learned from this story about stewardship, business, leadership and family. The best estate plan in the world couldn't have saved this family from the poor decisions made and the struggles besetting them while they were still living.

Nytimes And Ms. Stroh has taken the rare step, in the secretive world of America's wealthiest, of going public with her family's downward spiral in a remarkably intimate book, "Beer Money: A Memoir of Privilege and Loss."

03/03/2017

NFL Bad Joke Telling Full | NFL Pro Bowl

This is so funny that we couldn't resist sharing with all of you. Hope you get a good laugh out of this one. :D

Have a great weekend, all! (I mean, we'll be working, but you guys should enjoy yours. ;) Don't feel bad for us -- it's just that time of year and things will slow down in a couple of months. But until then, we work on through!)

NFL Pro Bowl players go head to head in BAD JOKE TELLING! Who can hold out the longest without laughing at the WORST jokes?

[03/02/17]   "Progress is man's ability to complicate simplicity." - Thor Heyerdahl

Do we need to even comment on that one considering the line of work we're in? 😉

[03/01/17]   It's the first day of March! Where did February go?

Today means you have less than 50 days to file your taxes. Have you scheduled your appointment with us yet? Better to book it now before openings become few and far between, as things are filling up and time is ticking.

www.irs.gov 02/28/2017

Exempt Organization Select Check

Beware of fake charities. These are organizations that set up shop for the purpose of soliciting (supposedly tax-free) donations. They imitate legitimate organizations and unsuspecting donors give them money. The IRS has a tool you can use called "Select Check" to ensure the organization you're donating to is legit.

www.irs.gov Select Check is an online search tool that allows users to search for and select an exempt organization and check certain information about its federal tax status and filings.

www.bloomberg.com 02/27/2017

Two-Thirds of Americans Aren’t Putting Money in Their 401(k)

Some fascinating statistics here. Do you think the reason most Americans aren't saving for retirement is lack of opportunity (their employers don't offer a plan) or lack of extra cash (they can't spare the money)?

www.bloomberg.com A dark, detailed new look at why many employees may never be able to retire.

[02/24/17]   It's been a relatively smooth tax season for the most part. We love getting the chance to see our clients, and having all the catch-up conversations we haven't had since we saw each other last. We love this time of year. :)

02/23/2017

Is Social Security Taxable?

This is a common question for many of our clients. Here's a quick explanation to help answer that question.

There's a simple calculation that will help determine if your Social Security benefits may be taxable.

[02/22/17]   One of our client sources over the years has always been in fixing the mistakes made by off-the-shelf software programs, and discovering loads of missed opportunities and overpayments. Save yourself the hassle (and lost money). Give us a call.

[02/21/17]   The federal government took in a record $1.08 trillion in taxes during the first quarter of their fiscal 2017. That's a lot of nickels.

We are reminded of why we love what we do here -- not because we take particular pleasure in seeing governmental coffers bulge, quite the opposite. We exist to help people like YOU pay their fair and legal share, but only their fair and legal share of taxes. The government doesn't ask you to leave them any tips, but they'll gladly keep them if you leave money on the table.

[02/20/17]   If for some reason you decide to go down the lonely road of preparing your own taxes, please do at least watch out for these common errors:
-Filing the wrong status
-Forgetting to sign it
-Taking the standardized deduction (one lump sum) when itemizing may return more
-Forgetting earned interest
-Not claiming your charitable donations
-Not filing domestic or self-employment taxes
-Not checking last year's taxes to see if anything carries over

I could go on and on, but those are a FEW of the biggies.

NerdWallet 02/17/2017

Pop Quiz: How Much Do You Know About Tax Basics?

How well do you know the U.S. tax code? Here's a fun little quiz to test your knowledge. Share your score in the comments. (We scored a perfect 10, of course!) :D

NerdWallet

[02/16/17]   A big shout out to our clients and friends who are in the process of adopting. Happy for you guys! And for anyone considering this, there are some great tax credits available, that can help. Connect with us (if you haven't already), for details.

[02/15/17]   Those who have already filed their taxes and claimed the Earned Income Credit (EIC) or the Additional Child Tax Credit (ACTC) have had their refunds held back because of congressional action. The VERY good news is that the IRS says they will start processing those refunds on February 15th (that's today) -- though the IRS did say in a statement that those refunds likely will not start arriving in bank accounts or on debit cards until the week of Feb. 27.

www.esquire.com 02/14/2017

10 Valentine's Day Gifts Under $25

Pssst: It's Valentine's Day today. In case you forgot a gift, here are some budget-friendly ideas for you. 😉

www.esquire.com Because true love shouldn't have to mean going broke. Not everyone can afford to go big on Valentine's Day. And even if they could, not everyone would want to. After all, saying "I love you" doesn't always mean spending a lot of money.

[02/13/17]   Q&A Monday: What tax questions can I answer for you today?

02/10/2017

Whose Line is it Anyway - Greatest Hits - Songs of Accounting

Everybody loves tax and accounting humor, right? Ahem, are we the only ones who think this is funny? ;)

[02/09/17]   An identity protection best practice:

Save your tax returns and records. Your federal and state tax forms are important financial documents you may need for many reasons, ranging from home mortgages to college financials. Print out a copy and keep in a safe place. Make an electronic copy in a safe spot as well. These steps also can help you more easily prepare next year’s tax return. If you store sensitive tax and financial records on your computer, use a file encryption program to add an additional layer of security should your computer be compromised.

[02/08/17]   Think about the type of person you want handling your personal financial matters ... You want professionalism, and accuracy. You want clarity, you want to be aware of beneficial tax options, you want peace of mind, you want an efficient use of YOUR time. And at the end of the day, you want to KNOW you got the most money back from the Treasury AND that the IRS will stay off your back so you can sleep like a baby at night.

Yes, we know what our clients need in a tax expert, and we have tailored our services to that end.

[02/07/17]   Did you know...

...the IRS can't technically take the shirt off your back? The tax code protects necessary personal belongings from the IRS collections process. Want to know what they CAN take? Give us a call.

www.cnbc.com 02/06/2017

The top mistakes to avoid making on your tax return

Keep these things in mind when you come for your tax prep appointment. We'll be going over these items with you (plus many more ways to save). If you haven't scheduled your appointment yet, now is a great time. Openings become fewer as the weeks go by.

www.cnbc.com If you've already received your W-2 from your employer, slow down before filing. Here are a few common missteps taxpayers often make.

[02/03/17]   "If we take care of the moments, the years will take care of themselves." - Maria Edgeworth

Taking care of the moments is a sure-fire way to avoid problems with the IRS. Even if you've had tax problems in the past, it's never too late to start anew

www.cpapracticeadvisor.com 02/02/2017

Chart Shows When to Expect 2017 Income Tax Refund

Tax time for many of our clients means refund time. (The biggest possible when we help you, of course!) So when can you expect your refund? We're so glad you asked...

www.cpapracticeadvisor.com If you're one of the millions of Americans who are asking, "When can I expect my income tax refund?" we have the answer. It depends on a couple of things, but the good news is that there are several tools to help find out.

[02/01/17]   An identity protection best practice:

Back up your files. No system is completely secure. Copy important files onto a removable disc or a back-up drive, and store it in a safe place. If your computer is compromised, you’ll still have access to your files.

[01/31/17]   Today is the official deadline for employers and businesses to mail out W2s and (some) 1099s so be watching for yours in the mail soon!

[01/30/17]   Mondays are for fun tax facts. What could be more fun that that? ;)

Who knows how long the IRS legally has to collect your tax debt?

[01/27/17]   One of the things we look forward to about tax season are the stories we hear every year, which circulate around our office, about the grateful client who was utterly hopeless about their financial and tax situation ... until they met with us, we crunched their forms and numbers, and not only gave them the nice news of a lower tax bill (or higher refund) than they expected -- but that we were able to speak life into the overall situation of their finances. What a great job we have!

Nytimes 01/26/2017

6 Tips for Avoiding the Worst Student Loan Repayment Traps

We have a lot of clients with kids in college or getting ready to head that way, so we thought this news would be of great interest to you...

Nytimes Staying out of trouble with a student loan servicer starts with two questions: How much do you owe, and to whom? Answering those questions is confusing to newcomers for a couple of reasons.

[01/25/17]   Don't get buried in paperwork. It's our job to cut through the noise of the burdensome pile of forms and regulations which form our tax process.

Telephone

Address


12801 Worldgate Dr Ste 500
Herndon, VA
20170

Opening Hours

Monday 9am - 7pm
Tuesday 9am - 7pm
Wednesday 9am - 7pm
Thursday 9am - 7pm
Friday 9am - 7pm
Saturday 9am - 7pm
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