Client Appreciation Shred Event & Tailgate Saturday, November 5

Client Appreciation Shred Event & Tailgate Saturday, November 5 11 a.m.-2 p.m. Are boxes of old documents and sensitive materials cluttering up the corners of your home or office space? Need a place to dispose of them safely? Then Stitely and Karstetter’s...

Charity Golf Tournament Benefiting Paws of Honor Friday, October 28

Charity Golf Tournament Benefiting Paws of Honor Friday, October 28 9:30 a.m.-12:30 p.m. Please join Stitely & Karstetter for our Annual Charity Golf Tournament as we tee off in style in private full-service bays at Top Golf One Loudoun. This year, proceeds will...

New Virginia Tax Rebate: Are You Eligible?

New Virginia Tax Rebate: Are You Eligible?

If you are a Virginia resident, you may be eligible for a new Virginia tax rebate. According to Virginia Tax, an agency of the Commonwealth of Virginia, the 2022 Virginia General Assembly passed a law earlier this year giving taxpayers with a liability a rebate of up...

Stitely and Karstetter Sponsor Third Annual Charity Golf Tournament

Stitely and Karstetter Sponsor Third Annual Charity Golf Tournament

On Friday, October 28, 2022, Stitely and Karstetter will sponsor their third annual charity golf tournament at TopGolf in Ashburn, VA.  All proceeds raised will benefit the non-profit, “Paws of Honor,” which supports our nation’s retired military and law enforcement...

S&K’s New Tax Resolution Services Division Offers IRS Assistance

S&K’s New Tax Resolution Services Division Offers IRS Assistance

Are you in trouble with the IRS and don’t know where to turn? Even if you are not a current client, Stitely and Karstetter (S&K) can help! The firm recently announced the opening of its new Tax Resolution Services division in response to a growing need for...

Do You Qualify for Employer Retention Credits?

Do You Qualify for Employer Retention Credits?

Do You Qualify for Employer Retention Credits? For a separate charge unrelated to your Total Accounting Care fee, the Stitely and Karstetter (S&K) team can meet with you to offer guidance on the requirements to qualify, as well as file your tax credit application....

Economic Injury Disaster Loan Repayments

Economic Injury Disaster Loan Repayments

[kc_row _id="984448"][kc_column _id="773033"][kc_column_text _id="871286"]Economic Injury Disaster Loan Repayments If your small business set up an Economic Injury Disaster Loan (EIDL), whether related to a natural disaster or COVID-19, it’s important that you set up...

Handling Foreign Assets

Handling Foreign Assets

Handling Foreign Assets Do you hold foreign assets outside of the United States? Under the Foreign Account Tax Compliance Act (FATCA), US taxpayers holding financial assets outside the country must report those assets to the IRS using Form 8938, Statement of Specified...

IRS Announces Mid-year Increases in Mileage Rates

IRS Announces Mid-year Increases in Mileage Rates

[kc_row use_container="yes" force="no" column_align="middle" video_mute="no" _id="334586"][kc_column width="12/12" video_mute="no" _id="329218"][kc_column_text _id="824931"] If you deduct mileage on your taxes, you will want to be aware of a recent increase in...

Tax Planning for Wage Earners

Tax Planning for Wage Earners

This time of year, people often ask me, “Frank, it seems like I pay a lot in taxes. What can I do to pay less?” Mostly, they are really asking me, “How can I save on taxes by moving some numbers around on paper?” To save on taxes, our elected representatives strike a...

Special Tax Rules for Rehiring Staff

Special Tax Rules for Rehiring Staff

If you find yourself short-staffed, one quick fix may be calling a former employee who has retired. You won't jeopardize your pension plan's tax status if you rehire retirees, nor is it a problem if you permit distributions of retirement benefits to employees who hit...

Thanks For Helping Us Help You This Tax Season

Thanks For Helping Us Help You This Tax Season

Tax season has come and gone, and we are finally able to take a breath. We would like to extend our deepest gratitude to all our clients for working so quickly and efficiently with us during the 2022 tax season. By thoroughly reading our emails and blog posts,...

Thanks For Helping Us Help You This Tax Season

Thanks For Helping Us Help You This Tax Season

[kc_row use_container="yes" force="no" column_align="middle" video_mute="no" _id="799321"][kc_column width="12/12" video_mute="no" _id="146334"][kc_column_text] Tax season has come and gone, and we are finally able to take a breath. We would like to extend our deepest...

Filing the Final Tax Return as an Executor

Filing the Final Tax Return as an Executor

As a survivor, executor or administrator of an estate, you are obligated to file an income tax return reporting all the deceased's income up to his or her date of death. You will need to be aware of all the credits and deductions the deceased is allowed, as if that...

Keep These Important Tax Deadlines Top-of-Mind

Keep These Important Tax Deadlines Top-of-Mind

Here at Top Level Accounting, we are continuing to work hard to prepare your tax returns. Please don’t forget about the following important deadlines: The deadline for personal tax documents to be sent to us, in order to avoid filing an extension, is March 20....

It’s Tax Season – Let’s Get Started

It’s Tax Season – Let’s Get Started

It's Tax Season ... Let's Get Started If you would like us to prepare a C-Corporation, S-Corporation or Partnership return, the best time frame to deliver your paperwork to our office or upload documents to the Client Center is ASAP. Our deadline for receiving...

Access Our Client Center for Tax Related Information

Access Our Client Center for Tax Related Information

‘Tis the season…tax season, that is! In order to help you best prepare to file on time, we encourage you to frequently check our client center, as we continually will be posting information about taxes. We most recently uploaded engagement letters for 1099s, which...

TAC to Prepare 1099 Forms for All Clients in Early January

TAC to Prepare 1099 Forms for All Clients in Early January

Clients Asked to Submit All W9’s to TAC, Via Client Center, by Saturday, 1/15 Happy Holidays from your friends at Total Accounting Care!   Christmas is almost here, and soon we’ll be ushering in a brand new year. This means that TAC will...

S&K Sponsors Charity Golf Event, Raises $3,000 for Paws of Honor

S&K Sponsors Charity Golf Event, Raises $3,000 for Paws of Honor

On Thursday, October 21, Stitely and Karstetter CPA’s sponsored our second annual charity golf event. Held at Top Golf in Ashburn, Virginia – the event successfully raised nearly $3,000 for Paws of Honor, a local charity that provides free veterinary care and products...

Total Accounting Care Welcomes Edd Dugbartey

Total Accounting Care Welcomes Edd Dugbartey

Total Accounting Care is pleased to welcome a new member to our team - Edd Dugbartey, who joined our enterprise on October 18 as a staff accountant. Edd is currently in training, and will be assisting TAC clients with reconciling, bookkeeping and tax...

S&K Hosts Successful Shredding Event

On Saturday, October 16, Stitely and Karstetter hosted another successful shredding event at our offices for more than 50 attendees, including clients and friends of the company. Lunch was served, as well as beer and wine from local breweries and wineries. Hundreds of...

Pension Plans 101 – What You Need to Know

Pension Plans 101 – What You Need to Know

A pension plan is a type of retirement plan where employers promise to pay a defined benefit to employees for life after they retire. This is different from a defined contribution plan, like a 401(k), where employees put their own money in an...

There is Still Time to Claim Your Employee Retention Tax Credit

There is Still Time to Claim Your Employee Retention Tax Credit

Eligible Businesses Can File Retroactive Claims for Wages Paid in Prior Tax Quarters On Aug. 4, the IRS issued further guidance on the employee retention credit, including guidance for employers who pay qualified wages after June 30, 2021, and before Jan. 1, 2022, and...

CPA Q&A: Child Tax Credit

CPA Q&A: Child Tax Credit

Now that July is here, many of our S&K clients who are full-time parents or caregivers to school-aged children, have begun receiving their Advance Child Tax Credit payments from the IRS. Most families will receive the first half of the credit in advance monthly...

Child Tax Credit Payments – How to Opt Out

Child Tax Credit Payments – How to Opt Out

On July 15, many of our TAC clients who are full-time parents or caregivers to school-aged children, began receiving their Advance Child Tax Credit payments from the IRS. The expanded child tax credit is part of the American Rescue Plan, signed by President Joe Biden...

Employee Spotlight: Sanya Verma

[kc_row use_container="yes" force="no" column_align="middle" video_mute="no" _id="906472"][kc_column width="12/12" video_mute="no" _id="286873"][kc_column_text _id="194994"] TAC is delighted to welcome  a new member to our team. Sanya Verma is joining us as a...

Which Meals Qualify for the 100 Percent Expense Deduction?

Which Meals Qualify for the 100 Percent Expense Deduction?

In early April, the IRS released guidance explaining when the temporary 100 percent deduction for restaurant meals is available, and when the 50 percent limitation on the deduction for food and beverages continues to apply. Under section 274(n) (1) of the tax code, a...

$3,600 Child Tax Credit: What S&K Clients Should Know

$3,600 Child Tax Credit: What S&K Clients Should Know

Many of our S&K clients are parents of eligible dependents and qualify for the child tax credit which President Biden included in his American Families Plan earlier this spring. This plan offers parents a credit of up to $3,600 per eligible child, and payments...

TAC is Serious About Your Cyber Security

TAC is Serious About Your Cyber Security

[kc_row use_container="yes" force="no" column_align="middle" video_mute="no" _id="477423"][kc_column width="12/12" video_mute="no" _id="127299"][kc_column_text]On Thursday, May 6 a malicious group of hackers carried out a ransomware attack on the computer system of...

Need to File Previous Years’ Tax Returns? S&K Can Help

Need to File Previous Years’ Tax Returns? S&K Can Help

Although many businesses are starting to get back on track, with the descent of COVID and an ensuing economic upheaval in our country - your company may not have filed tax returns in a few years. While life DOES happen – NOT filing your required tax returns is serious...

Shuttered Venue Operators Grant Portal Opens on Monday at Noon

Shuttered Venue Operators Grant Portal Opens on Monday at Noon

The U.S. Small Business Administration (SBA) will reopen the Shuttered Venue Operators Grant application portal on Monday, April 26 at 12:00 PM. The application portal for the SVOG program ran into technical difficulties almost immediately on April 8, with venue...

Virginia’s Minimum Wage Increases May 1

Virginia’s Minimum Wage Increases May 1

[kc_row use_container="yes" force="no" column_align="middle" video_mute="no" _id="969647"][kc_column width="12/12" video_mute="no" _id="944789"][kc_column_text _id="127920"] As many of our Total Accounting Care clients are small business owners in the state of...

The 2021 American Rescue Plan Explained

The 2021 American Rescue Plan Explained

[kc_row use_container="yes" force="no" column_align="middle" video_mute="no" _id="529032"][kc_column width="12/12" video_mute="no" _id="143273"][kc_column_text _id="691351"] On Thursday, March 11 - nearly one year after the Coronavirus was declared a global pandemic...

Unemployment Extension Programs for 2021

Unemployment Extension Programs for 2021

On Thursday, March 11, President Biden signed into law the  American Rescue Plan, a bold piece of legislation that is set to create 7 million jobs and ensure our nation’s road to recovery both physically and economically.  Within the package, additional unemployment...

IRS Allows $300 in Charitable Tax Deductions as Part of  CARES Act

IRS Allows $300 in Charitable Tax Deductions as Part of CARES Act

[kc_row use_container="yes" force="no" column_align="middle" video_mute="no" _id="961431"][kc_column width="12/12" video_mute="no" _id="296893"][kc_column_text _id="877351"] The IRS has made a special provision that will allow more people to easily deduct up to $300...

New Stimulus Plan: Employee Retention Credit Changes and PPP Loans

New Stimulus Plan: Employee Retention Credit Changes and PPP Loans

On December 27, 2020, former President Trump signed into law The Consolidated Appropriations Act, 2021 (CAA21), which contains several tax law changes, including expanded eligibility for the Employee Retention Credit (ERC) for businesses whose PPP loan(s) made them...