Berg Faircloth & Company

Berg Faircloth & Company

Built on a solid foundation of excellent client service and in-depth market knowledge, Berg Faircloth strives to develop a relationship with each client to foster a greater understanding of your needs and objectives while maintaining the ethical standards

Berg Faircloth is built on a solid foundation of excellent client service and in-depth market knowledge. We strive to develop a working relationship with each client to foster a greater understanding of your needs and objectives while maintaining the ethical standards of our profession. We provide tax and accounting services for individual and business clients.

Operating as usual

IRS New Media 1 | Internal Revenue Service 06/02/2021

IRS New Media 1 | Internal Revenue Service

#IRS will NOT ask you for credit card or SSN on social media. For your #TaxSecurity and identity protection, be sure to follow the real IRS: http://irs.gov/socialmedia

IRS New Media 1 | Internal Revenue Service Connect with the IRS on social media: IRS2Go mobile app, Twitter, YouTube and more. Get tax updates and information.

How to Use Your Roth IRA as an Emergency Fund 05/31/2021

How to Use Your Roth IRA as an Emergency Fund

Contributing to a tax-advantaged retirement account comes with rules that make it difficult to get your hands on your cash should you suddenly need it.
://www.investopedia.com/articles/personal-finance/040714/how-use-your-roth-ira-emergency-fund.asp

How to Use Your Roth IRA as an Emergency Fund While early withdrawals aren’t recommended, an often-overlooked feature of the Roth IRA lets the account work as an emergency fund.

Types of Financial Statements for Your Business | www.financialhotspot.com 05/28/2021

Types of Financial Statements for Your Business | www.financialhotspot.com

This document shows a summary of the cash or cash equivalents flowing in and out of your business.
https://financialhotspot.com/2021/02/22/types-of-financial-statements-for-your-business/

Types of Financial Statements for Your Business | www.financialhotspot.com Financial statements help you analyze your company's performance and meet your business goals.

Learn About Retirement Benefits | SSA 05/27/2021

Learn About Retirement Benefits | SSA

Everyone’s retirement is unique. Beyond deciding when to begin receiving retirement benefits, other factors that can affect your benefits include whether you continue to work, what type of job you had, and if you have a pension from certain jobs.
https://www.ssa.gov/benefits/retirement/learn.html#h4

Learn About Retirement Benefits | SSA Understand how Social Security fits into your retirement plan by learning how Social Security works, eligibility requirements, and what to consider before applying.

Roth vs. Traditional 05/26/2021

Roth vs. Traditional

Roth IRA vs. Traditional IRA and what you need to know between the two.
https://www.schwab.com/ira/understand-iras/roth-vs-trad-ira

Roth vs. Traditional Is a Roth IRA conversion right for you? Answer a few quick questions and see next steps, depending on your personal situation and financial goals.

Get Your Children Saving: A Guide To Kids’ Savings Accounts 05/25/2021

Get Your Children Saving: A Guide To Kids’ Savings Accounts

Should You Choose a Kids’ Savings Account or a Custodial Account?
https://www.forbes.com/advisor/banking/guide-to-childrens-and-kids-savings-accounts/?&utm_source=ra&utm_medium=referral

Get Your Children Saving: A Guide To Kids’ Savings Accounts For parents who want to teach their kids about money and financial literacy, one of the best things to do is to help your child open a savings account. Many banks and credit unions offer special savings accounts for kids that can be opened under the child’s name. Opening a kids’ savings account ...

Top 5 Scam Resources You Need To Know 05/24/2021

Top 5 Scam Resources You Need To Know

In case you missed anything, here a list of the five most important scam resources you should know about:
https://blog.ssa.gov/top-5-scam-resources-you-need-to-know/https://blog.ssa.gov/new-wage-reporting-application/

Top 5 Scam Resources You Need To Know Earlier this month, we hosted our second annual National “Slam the Scam” Day to raise awareness of government imposter telephone scams. In case you missed anything, we put together a list of the five…

FAQs on Taxes for Expats | www.financialhotspot.com 05/21/2021

FAQs on Taxes for Expats | www.financialhotspot.com

The IRS expects you to file taxes if you’re an American citizen or green card holder living or working abroad. You’re required to file IRS Form 1040 if your worldwide income is above a certain threshold. This figure is a combination of your US and foreign earnings. You can reduce your tax obligation through benefits such as the Foreign Earned Income Exclusion (FEIE) and the Foreign Tax Credit.
https://financialhotspot.com/2021/02/11/faqs-on-taxes-for-expats/

FAQs on Taxes for Expats | www.financialhotspot.com Hiring a professional tax preparer that's conversant with expatriate taxation helps reduce your tax burden.

How to Teach Your Teens About Credit 05/20/2021

How to Teach Your Teens About Credit

Your teens probably think that they know everything and also likely tell you so daily. However, it’s a safe bet your kids haven’t learned all they need to know about a vitally important topic: credit. Here’s what you need to make sure your teenagers understand about credit.
https://www.forbes.com/advisor/credit-cards/how-to-teach-your-teens-about-credit/?&utm_source=ra&utm_medium=referral

How to Teach Your Teens About Credit Your teens probably think that they know everything and also likely tell you so daily. However, it’s a safe bet your kids haven’t learned all they need to know about a vitally important topic: credit. Here’s what you need to make sure your teenagers understand about credit. They’re Probably ...

Child Tax Credit calculator: Find out how much money you could get under the American Rescue Plan's new rules for 2021 05/19/2021

Child Tax Credit calculator: Find out how much money you could get under the American Rescue Plan's new rules for 2021

Parents get a maximum $3,600 credit per child under 6 and $3,000 for those ages 6 to 17.
https://grow.acorns.com/child-tax-credit-calculator/

Child Tax Credit calculator: Find out how much money you could get under the American Rescue Plan's new rules for 2021 The latest stimulus expanded the Child Tax Credit: More families qualify to receive more money. Use our calculator to see how much you could get in 2021.

6 Surprising Facts About Retirement 05/18/2021

6 Surprising Facts About Retirement

Many aren’t saving what they should, but it's not all bad news.
https://www.investopedia.com/articles/retirement/110116/6-surprising-facts-about-retirement.asp

6 Surprising Facts About Retirement With the shift away from pensions, workers are becoming more responsible for their own retirement needs. Unfortunately, many are falling short.

Roth IRA Withdrawal Rules 05/17/2021

Roth IRA Withdrawal Rules

Open a Roth IRA and take advantage of after-tax benefits as you save for retirement.
https://www.schwab.com/ira/roth-ira/withdrawal-rules

Roth IRA Withdrawal Rules Get a clear explanation about making a Roth IRA withdrawal. See tax implications and penalty details, which vary depending on your age.

How to Begin Building Your Credit | www.financialhotspot.com 05/14/2021

How to Begin Building Your Credit | www.financialhotspot.com

Beginning to build your credit?
https://financialhotspot.com/2019/01/07/how-to-begin-building-your-credit-score/

How to Begin Building Your Credit | www.financialhotspot.com If you don't have a credit score yet, try these simple suggestions and get your credit started on the right path.

Timeline Photos 05/13/2021

Setting up an online tax account with the IRS is a great way to obtain your tax documents without having to contact the agency by phone or mail. This feature allows you to log into an account and check payment balances, set up payment arrangements and view prior-year tax returns and reported tax forms.

Setting up an online tax account with the IRS is a great way to obtain your tax documents without having to contact the agency by phone or mail. This feature allows you to log into an account and check payment balances, set up payment arrangements and view prior-year tax returns and reported tax forms.

When will child tax credit payments start? Checks set to roll out in July, IRS says 05/12/2021

When will child tax credit payments start? Checks set to roll out in July, IRS says

American families are set to receive a more generous child tax credit for 2021.
https://www.usatoday.com/story/money/2021/05/03/child-tax-credit-2021-covid-payments-start-july-update/4893305001/

When will child tax credit payments start? Checks set to roll out in July, IRS says In July, the IRS will begin sending monthly payments of $250 or $300 to low- and moderate-income families who qualify for the child tax credit.

Timeline Photos 05/11/2021

The 2021 tax season heralds big changes surrounding stimulus payments and unemployment income.

If you didn’t receive your Economic Impact Payments (aka stimulus checks), you can claim them on your 2020 tax return through the Recovery Rebate Credit. The credit will either increase your tax refund or reduce the amount you owe (and the credit will apply to both the first and second stimulus payments).

The 2021 tax season heralds big changes surrounding stimulus payments and unemployment income.

If you didn’t receive your Economic Impact Payments (aka stimulus checks), you can claim them on your 2020 tax return through the Recovery Rebate Credit. The credit will either increase your tax refund or reduce the amount you owe (and the credit will apply to both the first and second stimulus payments).

5 ways Biden's next two stimulus bills could bring you more money 05/10/2021

5 ways Biden's next two stimulus bills could bring you more money

In a speech, the president outlined his plans to get more money to Americans struggling through the pandemic in 2021.
https://www.cnet.com/personal-finance/bidens-next-two-stimulus-bills-5-ways-the-new-packages-may-bring-you-more-money/

5 ways Biden's next two stimulus bills could bring you more money Another stimulus check isn't the only way you could benefit from two massive plans intended for 2021.

What is a W-9, and Who Needs One? | www.financialhotspot.com 05/07/2021

What is a W-9, and Who Needs One? | www.financialhotspot.com

What is a W-9, and Who Needs One?
https://financialhotspot.com/2020/10/08/what-is-a-w-9-and-who-needs-one/

What is a W-9, and Who Needs One? | www.financialhotspot.com If you are a self-employed individual, the company or client who hires you will require you to fill out the W-9 form.

Timeline Photos 05/06/2021

Tip to get a head start on your 2021 taxes.
Take time to organize your tax documents and financial records, which can make the actual filing process faster and easier. Use your prior year’s tax return to serve as a starting point to determine your previous income, deductions and credits reported.

Tip to get a head start on your 2021 taxes.
Take time to organize your tax documents and financial records, which can make the actual filing process faster and easier. Use your prior year’s tax return to serve as a starting point to determine your previous income, deductions and credits reported.

Getting married in 2021? Why you need to talk about credit card debt. 05/05/2021

Getting married in 2021? Why you need to talk about credit card debt.

Before you begin to plan your new married life together, you want to make sure that you address any financial concerns you have. That means discussing any debt before you say, "I do."
Keep reading to learn more about why you need to talk as a couple about credit card debt.

https://www.usatoday.com/story/money/personalfinance/2021/04/28/why-couple-talk-credit-card-debt/43589497/?utm_source=taboola&utm_medium=exchange&utm_content=money

Getting married in 2021? Why you need to talk about credit card debt. If you're planning to walk down the aisle this year, you need to disclose your credit card debt and discuss financial...

5 Tax Breaks For Parents That Can Make A Big Difference 05/04/2021

5 Tax Breaks For Parents That Can Make A Big Difference

Raising a child is pricey—to the tune of almost a quarter of a million dollars over the first 18 years, according to the USDA’s most recent figures. Luckily, the IRS provides some tax breaks to help families with these enormous costs.
https://www.forbes.com/advisor/taxes/5-tax-breaks-for-parents/

5 Tax Breaks For Parents That Can Make A Big Difference Raising a child is pricey—to the tune of almost a quarter of a million dollars over the first 18 years, according to the USDA's most recent figures. Luckily, the IRS provides some tax breaks to help families with these enormous costs. In 2019, a family qualified for an average tax credit of up t

[05/03/21]   Teachers: Some out-of-pocket expenses to protect your classroom from COVID-19 may qualify for the educator expense deduction. See the details: go.usa.gov/xASEg

What You Should Know About Virtual Accounting | www.financialhotspot.com 04/30/2021

What You Should Know About Virtual Accounting | www.financialhotspot.com

Your accountant doesn’t have to be physically present for your business to benefit from their expertise. Modern technology makes virtual accounting an excellent alternative. https://financialhotspot.com/2020/12/04/what-you-should-know-about-virtual-accounting/

What You Should Know About Virtual Accounting | www.financialhotspot.com Modern technology can give you an edge over the competition, and virtual accounting is the key to making it happen.

To Maximize Your Social Security Benefits, First Do Your Homework | Kiplinger 04/29/2021

To Maximize Your Social Security Benefits, First Do Your Homework | Kiplinger

When to claim Social Security is a big question, but it is not the only one you will need to answer to get the most out of your benefits.
https://www.kiplinger.com/retirement/social-security/602373/to-maximize-your-social-security-benefits-first-do-your-homework

To Maximize Your Social Security Benefits, First Do Your Homework | Kiplinger When to claim Social Security is a big question, but it is not the only one you will need to answer to get the most out of your benefits.

4 ‘Hidden’ Assets You’ll Need to Account for in Divorce | Kiplinger 04/28/2021

4 ‘Hidden’ Assets You’ll Need to Account for in Divorce | Kiplinger

Untangling family finances during divorce can take some digging. Your spouse may have assets that aren’t top of mind (restricted stock or Bitcoin, anyone?), and they might be tough to value or split up.
https://www.kiplinger.com/personal-finance/602360/4-hidden-assets-youll-need-to-account-for-in-divorce

4 ‘Hidden’ Assets You’ll Need to Account for in Divorce | Kiplinger Untangling family finances during divorce can take some digging. Your spouse may have assets that aren’t top of mind (restricted stock or Bitcoin, anyone?), and they might be tough to value or split up.

What Is the Rule of 72? 04/27/2021

What Is the Rule of 72?

The Rule of 72 is a simple way to calculate how long it will take an investment to double, based on the annualized rate of return. https://www.thebalance.com/what-is-the-rule-of-72-how-can-it-help-you-double-your-money-453756

What Is the Rule of 72? The Rule of 72 helps you figure how long it will take for your investment to double in value. But you may need to use a different formula for precise timing.

Survey: Food Is the No. 1 Pandemic Comfort Splurge 04/26/2021

Survey: Food Is the No. 1 Pandemic Comfort Splurge

Survey's showed that during quaratine, American's budget allocated more on groceries and cleaning supplies. https://www.thebalance.com/survey-food-is-the-no-1-pandemic-comfort-splurge-5114742

Survey: Food Is the No. 1 Pandemic Comfort Splurge Nearly one year after COVID-19 spurred lockdowns in the U.S., Americans are reflecting on how the pandemic has impacted their spending habits.

Understanding the Two Methods of Accounting | www.financialhotspot.com 04/23/2021

Understanding the Two Methods of Accounting | www.financialhotspot.com

As a business owner, there are two main accounting methods you can use. Read more about these two methods here: https://financialhotspot.com/2021/01/08/understanding-the-two-methods-of-accounting/

Understanding the Two Methods of Accounting | www.financialhotspot.com Cash basis or accrual accounting method? Which one is right for your business? Find out more!

What Happens to Your Pets When You Die? - Estate Planning With Cats & Dogs 04/22/2021

What Happens to Your Pets When You Die? - Estate Planning With Cats & Dogs

Pet planning is the part of estate planning that allows you to ensure your animals receive proper care regardless of what happens to you. https://www.moneycrashers.com/estate-planning-pets-cats-dogs/

What Happens to Your Pets When You Die? - Estate Planning With Cats & Dogs What happens to your pets when you die? Learn how to ensure your pets will be cared for when you pass with these estate planning tips.

How Can a Balance Sheet Help Your Business? | AllBusiness.com 04/21/2021

How Can a Balance Sheet Help Your Business? | AllBusiness.com

If you're an entrepreneur or a small business owner, using a balance sheet can help you in the long run. https://www.allbusiness.com/what-are-assets-liabilities-and-owners-equity-36266-1.html

How Can a Balance Sheet Help Your Business? | AllBusiness.com Learn about the three components that make up a company balance sheet - assets, liabilities and owners' equity - and how to use this document.

Try These Retirement Planning Tools and Software 04/20/2021

Try These Retirement Planning Tools and Software

Not all retirement planning tools and software are easy to follow. However, there are some retirement planning tools that may align with your needs and budget https://money.usnews.com/money/retirement/401ks/articles/best-retirement-planning-tools-and-software

Try These Retirement Planning Tools and Software Use top rated methods to help create and follow a retirement savings plan.

3 Common Mistakes You Don’t Want To Make This Tax Season 04/19/2021

3 Common Mistakes You Don’t Want To Make This Tax Season

With the beginning of Tax Season, you'll want to make sure you file your taxes correctly. Here are three common mistakes that you'll want to avoid. https://www.forbes.com/sites/financialfinesse/2021/03/01/3-common-mistakes-you-dont-want-to-make-this-tax-season/?ss=personalfinance&sh=303127d732b3

3 Common Mistakes You Don’t Want To Make This Tax Season Here are three of the most common tax season mistakes you don’t want to make:

The Truth About Limited Liability Companies 04/16/2021

The Truth About Limited Liability Companies

Small business owners can benefit from Limited Liability Company (LLC). With the LLC business structure, personal assets are protected in the event a business gets sued. https://www.investopedia.com/terms/l/llc.asp

The Truth About Limited Liability Companies A limited liability company is a corporate structure in the United States wherein the company members are not personally liable for the company's debts or liabilities.

How Quarterly Taxes Work | www.financialhotspot.com 04/15/2021

How Quarterly Taxes Work | www.financialhotspot.com

Who Pays Taxes Quarterly? https://financialhotspot.com/2021/03/05/how-quarterly-taxes-work/

How Quarterly Taxes Work | www.financialhotspot.com Understanding how quarterly taxes work can help your business reduce liability and save money. Find out more!

How To Reduce Your College Savings Risk 04/14/2021

How To Reduce Your College Savings Risk

Investing for college is filled with uncertainty, but with these tips many risks can be mitigated. https://www.forbes.com/sites/brianboswell/2021/03/03/how-to-reduce-your-college-savings-risk/?ss=personalfinance&sh=512f3b2376d7

How To Reduce Your College Savings Risk Diversification is about more than just asset class, it’s also about asset location. Asset location diversification reduces legislative risk and tax risk.

Our Story

For over 60 years Berg Faircloth & Company has enjoyed a reputation for highly personalized accounting services for business owners and individuals alike. We have passed-down a philosophy of superior client service and skill to each partner and member of our team. It is our mission to help clients enjoy better financial health and benefit from an organized tax and accounting strategy.

A Legacy of Quality Accounting Services in Leesburg

Our firm was founded by Eli Berg, who later promoted Oscar L. Faircloth to partner in 1963. Oscar’s son and daughter, Ricky L. Faircloth, PFS and Angela K. Wyrick, CPA, PFS were brought on and later made partners themselves in 1992 and 2001, respectively. Leadership in tax and accounting is a part of our family history and makes our firm truly unique. When you visit Berg Faircloth & Company, you can trust your finances will be handled by a team with a shared vision and passion for problem-solving and best-quality service.

Welcoming New Tax and Accounting Clients

Videos (show all)

Berg Faircloth & Company
Berg Faircloth & Company

Telephone

Address


44135 Woodridge Pkwy Suite 200
Leesburg, VA
20176

Opening Hours

Monday 09:00 - 17:00
Tuesday 09:00 - 17:00
Wednesday 09:00 - 17:00
Thursday 09:00 - 17:00
Friday 09:00 - 17:00
Other Financial Planning in Leesburg (show all)
Linda Black, CHFC, CRPC, RICP Linda Black, CHFC, CRPC, RICP
Waverly Park Mansion 604 S King St
Leesburg, 20175

Registered Representative LifeMark Securities Corp.

The Davidson Group, CPA The Davidson Group, CPA
22145 Woodwinds Dr
Leesburg, 20175

DIYFastTax makes filing your taxes easy. Prepare simple and complex tax returns in minutes. Come visit us today! www.DIYFastTax.com

American Capital Planning, LLC American Capital Planning, LLC
Leesburg

Fiduciary, Flat Fee and Fee Only, wealth management, divorce financial planning, and ONLINEADVISOR for those getting started or starting over.

Cortney Heykoop, Financial Advisor, Clover Leaf Wealth Strategies Cortney Heykoop, Financial Advisor, Clover Leaf Wealth Strategies
43177 Nikos St
Leesburg, 20176

Registered Financial Services Representative

Leesburg Auto Finance Leesburg Auto Finance
355 East Market Street
Leesburg, 20176

LAFCARS.COM

Retirement Planning Guru Retirement Planning Guru
116-R Edwards Ferry Road
Leesburg, 20176

It’s never too soon to plan for retirement.

Barahona & Associates Barahona & Associates
222 Catoctin Circle Se Suite 122
Leesburg, 20175

Empecé Barahona & Associates con el objetivo de que la comunidad hispano-hablante reciba ayuda profesional y de confianza a la hora de preparar sus impuestos.

Sanabria Insurance Group LLC Sanabria Insurance Group LLC
110 E Market St, Ste 103
Leesburg, 20176

Kestler Financial Group, Inc. Kestler Financial Group, Inc.
1602 Village Market Blvd SE Ste 430
Leesburg, 20175

Maven Financial Maven Financial
880 Harrison St SE
Leesburg, 20175

Maven Financial provides cutting-edge financial advice and solutions to businesses and families.

Fellows Financial Group Fellows Financial Group
212 E Market Street
Leesburg, 20176

Fellows Financial Group reliably provides clients with practical financial planning, insurance and investment advice.

Alan A. Nicolette, Financial Advisor Alan A. Nicolette, Financial Advisor
41920 Cranberry Ln
Leesburg, 20176

Nicolette Financial is a fee-only independent financial planning firm specializing in Wealth Management, Retirement Planning, and Tax Preparation & Filing.