News & Events

LANSDOWNE, Virginia —  February 9, 2021

BAS Certified Public Accountant Firm in Lansdowne Virginia, is among the first CPA firms to be awarded a new .CPA internet domain (https://BAS.CPA) by the American Institute of Certified Public Accountants (AICPA).

The AICPA, in conjunction with ICANN the internet’s governing body, has created a new .CPA internet domain. The exclusive .CPA domain helps businesses, not-for-profit organizations and persons in need of professional financial reporting, accounting, tax and other support to more easily verify licensed and authorized certified public accountant firms from whom to acquire services.  

With trust being a crucial commodity in business and on the Internet, the new .CPA domain provides the following assertions for businesses or persons seeking assistance with accounting, financial reporting, taxes, financial audits or reviews, and other crucial matters:

• TRUST that the supplier of the services is a licensed Certified Public Accountant Firm;
• VERIFICATION that the AICPA has confirmed that the firm possesses the certifications, knowledge, and skills required to provide professional accounting services; and
• ASSURANCE that the services are overseen by a credentialed Certified Public Accountant Firm. 

Virginia law (https://law.lis.virginia.gov/vacode/title54.1/chapter44/section54.1-4412.1/) stipulates that only licensed CPA firms may provide financial statement preparation services, compilation services, and attest services (including audits and reviews) to persons or entities located in Virginia. Any licensee or firm providing these services must have an active CPA firm license and be in good standing.  

In order to operate under a .CPA internet domain (website and/or email) a firm must be authenticated by the AICPA to be an active licensed CPA firm in good standing.  

ABOUT BAS CPA 

BAS CPA is a US-based Certified Public Accountant Firm that provides domestic and multinational businesses, not-for-profit organizations and individuals with critical support and expertise in the following areas:

• Tax strategy, preparation and filing services
• F990 compliance for not-for-profit organizations
• Foreign national and expatriate tax services
• Financial statement preparations and compilations
• Financial statement audits and reviews 
• Financial statement assurance reviews for loans and SBA compliance
• Consolidation of parent company and subsidiary financial statements
• Business accounting, bookkeeping and payroll support
• Assessments of internal accounting processes and controls
• Foreign entity financial and tax reporting
• Translation of foreign financial statements to US GAAP
• Multinational business base erosion and profit shifting strategies

Organizations in need of professional CPA support can be confident that BAS Certified Public Accountant Firm (BAS CPA) possesses the knowledge, certifications and experience required to provide sound, reliable accounting, tax, audit and financial reporting services to businesses, not-for-profit organizations and individuals throughout the United States and around the globe.  

Please visit our services page for details about our firm's services portfolio. 

Contact us now for assistance with your taxes. We're ready to help!  

LANSDOWNE, Virginia —  January 9, 2020

Welcome to 2021! As we are all eager to put an unprecedented 2020 behind us, there is still one thing left from 2020 for us to complete — preparing and filing taxes for 2020.

Throughout 2020 the Coronavirus pandemic altered our lives in many ways. In an effort to offset the tremendous burdens that stemmed from the virus, Congress passed major legislation that included each of the following acts, which also created modifications to U.S. tax laws that could affect your business or personal tax     returns: 

• Families First Coronavirus Response Act (FFCRA)
• Coronavirus Aid, Relief and Economic Security Act (CARES)
• Paycheck Protection Program and Health Care Enhancement Act 
• PPP Loan Forgiveness
• Various filing and payment due date changes implemented amid the COVID-19 pandemic

With these occurrences, 2020 taxes are going to be more complicated and challenging for both businesses and individuals. Given this, you’re likely to have     questions about the many ways that the Coronavirus acts may affect your 2020 tax returns. For example, the 2020 tax code includes COVID related changes and mandates for stimulus checks, net operating losses, unemployment benefits, PPP-funded expenses, business deductions, medical expenses, remote work from home, 529 distributions, deferred payroll taxes, charitable deductions and withdrawals from 401(k)s and IRAs.  

Need assistance? Contact us now. We're ready to help!

Beyond the tax code changes that resulted from the above noted legislation, business and individuals may also see a number of changes under the new presidential administration that could result in tax increases. With a limited amount of time within which to understand each of the changes and how to address them via your tax returns, it’s a good time to work with a knowledgeable CPA.

So, what do you need to do?  We recommend taking the following steps:

First step: organize  your tax documents and tax records.

Organizing your tax documents and tax records is a crucial element to preparing your tax     returns. We recommend that you organize tax documents and tax records as     early as possible. When working with the skilled tax professionals at BAS CPA we can help you to understand what’s needed and assist you to more easily and effectively manage your tax compliance, preparation and filing needs. 

Second step: contact us early to ensure that your needs are covered safely and securely. 

We provide you safe and secure support during the COVID pandemic for having your business, not-for-profit organization or individual tax returns professionally     prepared. With the COVID-19 pandemic extending into 2021, the need for social distancing is still a critical concern. In order to minimize your exposure to the Coronavirus, BAS CPA utilizes digital tax preparation and e-filing capabilities to prepare and file tax returns on behalf of our clients. These systems enable businesses and individuals to digitally deliver their documents to our firm, and to electronically review, e-sign and e-file their tax returns — without the need for face to face     meetings. 

As tax experts and advisers, BAS CPA provides businesses, not-for-profit organizations, and individuals the necessary knowledge and expertise for preparing financial statements and tax filings in accordance with the standards stipulated by U.S.  accounting regulators and U.S. tax authorities. Got questions? 

Contact us now for assistance with your taxes. We're ready to help!  

LANSDOWNE, Virginia  — September 13, 2020

Please join us in acknowledging and celebrating Virginia CPA Week taking place September 13 – 19, 2020.  

All this week, the Commonwealth of Virginia is recognizing Certified Public Accountants for their hard work and the positive impact that CPA firms like BAS Accounting Services have on the communities and businesses that we serve. 

Throughout the week you can use the hashtag #CountOnCPAs on your LinkedIn or social media pages to share your experiences and  appreciation for your CPA. You may also share your messages regarding  our CPA firm via posts and comments to our firm's LinkedIn and Facebook  pages using the following links:  

LinkedIn: https://www.linkedin.com/company/bas-accounting-services-cpa 

Facebook: https://www.facebook.com/BASCPA 

As part of Virginia CPA Week,  the commonwealth recognizes the high standards of ethics,  professionalism, and knowledge that all CPAs possess and must maintain  through continuing professional education in order to provide the  highest quality service to both individuals and businesses.  

CPAs  in Virginia draw upon unique knowledge and experience to provide sound,  reliable financial counsel to protect and promote the growth of  business, the soundness of government operations, and confidence of  investors in business clients operating in the Commonwealth of Virginia  and throughout the United States of America.

Drawing  upon this knowledge, expertise and skills, CPAs provide accounting,  financial reporting, management advisory services, audit and review  services, as well as tax services and financial planning advice to  individual and corporate clients. 

WASHINGTON, DC — October 30, 2019

Please join BAS Accounting Services and other  Real Estate and Construction  professionals on October 30, 2019 at the Greater Washington Society of CPAs’ 2019 Real Estate and Construction Conference in Washington DC to learn about new tax deductions available to business owners under Section 199A of the Tax Cuts and Jobs Act (TCJA).  Attendees earn one CPE Credit.   

With the passing of the Tax Cuts and Jobs Act of 2017 a new Section 199A was introduced that allows for up to a 20% deduction on “Qualified Business Income” for noncorporate tax payers.  In an informative presentation provided by BAS Accounting Services CPA Partner and tax expert Karen Crosswhite, attendees will learn to understand the numerous definitions, limitations and special rules included in Section 199A of the tax code through which business owners may determine if they qualify for the 20% deduction. 

This down to earth presentation will help attendees to understand and apply each of the following key components of the tax act: 

• IRS definitions of a “Qualified Trade or Business”, “Modified Taxable Income, and “Qualified Business Income” under Section 199A
• Deductions available on qualified business income 
• Restrictions relative to business types and income levels
• Limitations to qualifying for the 20% deduction
• Implications for Rental or Licensing of properties
• REIT Dividends and PTP Income

 With over 15 years of accounting, tax, auditing, and financial consulting experience, Karen Crosswhite's technical knowledge and experience underscore the audit, accounting and tax practices provided by BAS Accounting Services. Her expertise lies in financial accounting reporting, business tax strategies, tax-efficient corporate expansion for multi-state and international corporations, and engagements involving research of accounting regulations and tax credits. She leverages her technical public accounting and tax practice experience to develop strategic planning solutions for clients ranging from start-up businesses and not-for-profit organizations to large publicly held corporations. Karen has managed financial statement audits, reviews, consolidations, compilations and delivered accounting services to clients in the technology, industrial, service, and not-for-profit sectors. Her extensive industry knowledge allows her to provide proactive advice to executive clients on key accounting issues, including business tax strategies, employee stock compensation, complex equity transactions, revenue recognition, financial statement presentation, capitalization and SEC filing requirements.

Prior to establishing BAS Accounting Services, Karen worked with three of the four leading accounting firms: Ernst & Young, Deloitte and PricewaterhouseCoopers (PwC), where she led senior level tax practice engagements for clients including Marriott, eBay, E-Trade, PHH, MARS Corporation, Airbus and Fannie Mae.

RESTON, Virginia —  May 29, 2019

BAS Accounting Services, CPA this past week was nominated for three ACE Awards for Chamber Excellence by the Greater Reston Chamber of Commerce.  ACE Award recipients are nominated by their peers within the business community for demonstration of excellence, industry innovation and Chamber support over the past year. Final recipients will be acknowledged at the June 27, 2019 Annual Meeting and Awards for Chamber Excellence (ACE) Luncheon. 

• SMALL BUSINESS OF THE YEAR:  Awarded for outstanding achievement in customer service, innovative products/services, leadership, professional development, partner relations and/or public responsibility, as well as support for the Chamber’s mission.
• CONTRIBUTOR OF THE YEAR:   Acknowledged for continually advancing the mission and goals of the Chamber through participation in events, programs and or mentoring.
• NEW MEMBER OF THE YEAR:  Recognized as a  business that continually provides superior service, dedication and commitment to the Chamber and its members. Additionally, the member is actively involved in one or more committees, as well as attending and promoting Reston Chamber events.

“It is a great honor to be recognized by our peers as a valued member of the Greater Reston Area Business Community.”, Rick Crosswhite, Business Development Partner, BAS Accounting Services, Certified Public Accountant Firm.