Be sure to bookmark our new URL, https://bas.cpa
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:
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:
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 12, 2020
Below are key dates and deadlines that you may find helpful as we help you to prepare for your 2020 tax filing needs. Getting an early start on gathering and organizing all of your tax documents and tax records will help you to meet your tax filing requirements. Contact us today for assistance with your taxes. We're ready to help!
Business Income Tax Filing Deadlines
March 15, 2021: If your business is an S-corporation or a Partnership that operates on a calendar year, the deadline for filing a business tax return for 2020, or filing for a 2020 tax extension is March 15, 2021.
The deadline for S-corporation and Partnership returns that operate on a fiscal year, rather than a calendar year, the deadline for filing a business tax return, or filing for a tax extension, is the 15th day of the third month following the end of the fiscal year. State income tax due dates can vary. Check with the tax collection authority in your state for the filing and payment deadline in your state.
April 15, 2021: If your business is a C-corporation that operates on a calendar year, the deadline for filing a business tax return for 2020, or for filing for a 2020 tax extension is April 15, 2021.
If a C-corporation operates on a fiscal year, rather than a calendar year, the deadline for filing a C-corporation return, or filing for a tax extension, is the 15th day of the fourth month following the end of the corporation's fiscal year.
October 15, 2021: For C-corporations that operate on a calendar year and are granted a 2020 tax extension by the IRS, the last day to file a 2020 business income tax return is October 15, 2021.
Sept. 15, 2021: For S-corporations or Partnerships that operate on a calendar year and are granted a 2020 tax extension by the IRS, the last day to file a 2020 business income tax return is September 15, 2021.
Individual Income Tax Filing Deadlines
April 15, 2021: The deadline for filing a 2020 individual income tax return and pay taxes for 2020, or to file for a 2020 tax extension is April 15, 2021.
Please keep in mind that if you owe taxes for 2020 receiving an extension from the IRS does NOT extend the tax due date beyond April 15, 2021. Talk with our tax preparers about this distinction.
October 15, 2021: The last day to file a 2020 individual income tax return if you receive a tax extension from the IRS is October 15, 2020.
Estates and Trusts
For calendar year estates and trusts, the deadline for filing the tax return is April 15, 2020. For fiscal year estates and trusts, the deadline for filing the tax return is the 15th day of the 4th month following the close of the tax year. Talk with our tax preparers about this distinction.
Gift Tax Return
Generally, you must file the gift tax return no earlier than January 1, but not later than April 15, of the year after the gift was made. Talk with our tax preparers about this distinction.
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:
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.
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!
FAIRFAX, Virginia — December 2, 2020
BAS Certified Public Accountant Firm founding partner and CPA , Karen Crosswhite, was featured this month in the George Mason University School of Business 'Leveling Up' publication as a successful business leader and participant in Mason’s master in accounting program and graduate certificate program in forensic accounting.
The article highlights Ms. Crosswhite's experience in the advanced degree programs and work done by BAS Certified Public Accountant Firm to support U.S. based multinational businesses, international businesses, and not-for-profit organizations seeking assistance with tax filings, accounting, financial reporting, and other compliance needs.
Read the full article at https://business.gmu.edu/news/2197-leveling-up/
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:
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.
LANSDOWNE, Virginia — March 21, 2020
In response to the coronavirus crisis (COVID-19), the US Treasury and IRS have officially extended the 2019 tax year federal tax filing and payment deadline to July 15, 2020.
This change was officially announced with the release of IRS circular IR-2020-58, published by the Internal Revenue Service on March 21, 2020. No additional forms are required for taxpayers to elect to file their federal tax returns by July 15, 2020.
Despite the filing deadline being extended to July 15th, the IRS and our firm urge tax payers who are owed refunds to electronically file their tax returns with their tax preparer earlier than July 15th in order to receive refunds as soon as possible. Filing electronically with direct deposit is the quickest way to receive refunds. Most tax refunds are still being issued within 21 days.
Individual taxpayers who need additional time to file beyond the July 15 deadline, can request a filing extension by filing a Form 4868 through our firm. Businesses as well who need additional time may file a Form 7004 through our firm's tax professionals.
The actions taken by the US Treasury and the IRS are welcome news and offer some relief as we all await a final reprieve from the COVID-19 crisis. As many of you are wisely heading CDC social distancing guidelines, BAS Accounting Services, CPA firm as well has implemented measures and technology to safeguard our clients during the crisis.
In an effort to minimize exposure and passing of the virus, all BAS staff are utilizing our firm's 100% digital tax preparation and filing capabilities to prepare and file tax returns on behalf of our clients. These systems enable all BAS clients with secure digital delivery of documents to BAS, electronic review of tax returns, e-signing and e-filing -- without the need for face to face meetings.
If you are still in need of assistance with your taxes, our 100% digital document delivery, tax preparation, e-signing and e-filing process enables our clients to have their taxes safely and securely prepared and filed by professional tax preparers.
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:
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 — June 27, 2019
BAS Accounting Services, CPA Firm was honored as the recipient of the 2019 New Member of the Year Award for Chamber Excellence by the Greater Reston Chamber of Commerce. The award recognizes the new business member within the Chamber of Commerce which throughout the year continually provided superior service, dedication and commitment to the Chamber and its members, and which was actively involved in one or more committees helping to better the Reston Chamber and to further its mission.
The award was recognized by the United States House of Representatives in the Congressional Record and the United States Senate via a certificate of special recognition and recognition letter from Senator Mark R. Warner, stating "This honor recognizes the firm's exemplary leadership in both its industry and the community".
"It is an honor to be recognized by fellow members of our business community and the Chamber of Commerce for the positive impact that our firm has made this past year. Being a part of the Greater Reston Chamber of Commerce has greatly benefited our business. Through our membership and involvement in the chamber we have formed many new relationships with business owners and executives, while expanding the reach and awareness for our firm", said Rick Crosswhite, BAS Accounting Services, Business Development Partner.
BAS Accounting Services is a Certified Public Accountant Firm located in Ashburn Virginia in the heart of the Dulles corridor. With combined technical expertise in public accounting, auditing, and domestic and international tax the firm provides accounting, audit, financial reporting and tax solutions for clients ranging from not-for-profit organizations, to start-up organizations and large publicly held corporations.
Established in 2008, the CPA firm has for more than a decade supported the accounting needs of individuals and companies of all sizes (from small to medium to large) providing the following services portfolio:
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.
“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.
ASHBURN, Virginia — May 6, 2019
BAS Accounting Services CPA Partner and Tax expert, Karen Crosswhite, delivered a one hour presentation on the topic of Small Business Strategies Under the Tax Cuts and Jobs Act (TCJA). Visit https://loudounconference.com for more details.
In December 2018 Congress enacted the Tax Cuts and Jobs Act (TCJA) which includes many changes that affect small businesses. As the rules from the IRS are clarified it’s important to understand what opportunities small business owners can take advantage of. In this down to earth presentation , CPA Karen Crosswhite, of BAS Accounting Services covered tax saving strategies related to each of the following five areas:
1. Retirement Plans
2. Meals vs Entertainment
3. SE Tax Minimization
4. Qualified Business Income
5. State and Local Taxes
ASHBURN, Virginia — December 17, 2018
BAS Accounting Services CPA Partner, Karen Crosswhite, was honored this week by George Mason University as the first recipient of the university’s School of Business Shrivastava GovCon Scholarship for the 2018-2019 academic year.
The scholarship was established in memory of S.P. ‘Shri’ Shrivastava, to provide support to emerging entrepreneurs who have made service to the country a priority of their corporate mission.
Karen Crosswhite is the co-founder and lead CPA Partner at BAS Accounting Services and is actively involved with the American Institute of Certified Public Accountants (AICPA) and the Virginia Society of Certified Public Accountants (VSCPA).
Having spent more than a decade in the accounting and finance profession, Karen sought out George Mason University's master’s program as a means of expanding upon her prior knowledge in the field of accounting and business. The coursework in the program also fulfills the continuing professional education credits (CPE) mandated by the American Institute of Certified Public Accountants (AICPA) in order for CPAs to maintain their license.
According to Karen, “It’s important for anyone in the field of accountancy to continually reinforce and expand their knowledge and skills pertaining to new advances, regulations and overall spectrum of finance, accounting, and taxation."
“As owner and lead CPA Partner of BAS Accounting Services, our firm's partners and I recognize that our clients continually rely on the aid of accounting experts with knowledge of current accounting standards, practices, codes, and regulations,” she says.
GMU’s Accounting Master’s Program provides advanced learning opportunities from experts in our field, as well as professionals with experience in tangential fields, such as forensic federal investigation, who are able to infuse the program’s curriculum with real world experience.
About BAS Accounting Services:
BAS Accounting Services, LLC is a Certified Public Accountant Firm founded in 2008 and reorganized in 2018. The firm supports domestic and international businesses, not-for-profit organizations, and individuals with auditing, reviews, attestation, compilation and preparation of financial statements, tax services and business advisory services.
ASHBURN, Virginia — February 11, 2018
BAS Accounting Services, in partnership with the Greater Reston Chamber of Commerce, is co-sponsoring the chamber's Business Education Series. The mission of the Business Education Committee is to establish the vision and coordinate the delivery of a dynamic series of continuing educational workshops to Chamber members and the community for practical application in the growth and success of their businesses. Held at the Grerater Reston Chamber of Commerce Office from 8:30am to 10:00am on the 4th Wednesday of each month, the workshops are open to GRCC Members as well as the general business community. Business Education workshops are complimentary for current Chamber members and $15 for future members. The workshops are designed to support business growth and cover a variety of topics.
Upcoming Business Education Workshops include:
Wednesday, February 13
8:30 - 10:00 am
Wednesday, February 27
8:30 - 10:00 am
Wednesday, March 20
8:30 - 10:00 am
On the 19th of June 2019, BAS Accounting Services was joined by members of the international business community at the REPUBLIC OF WORK in Cork Ireland for a discussion on recent changes to the U.S. tax code that may benefit or impact the foreign divisions of multinational corporations. The discussion, lead by BAS Accounting Services CPA Partner Karen Crosswhite, centered around the tax benefits of international profit shifting strategies and new changes to the U.S. tax code.
Wednesday, 19 June 2019
13:00 – 14:00 IST
REPUBLIC OF WORK
12 South Mall Street