Elizabeth J. Moffett, CPA

Elizabeth J. Moffett, CPA I provide tax planning and tax preparation services, accounting support and other financial services to small businesses, individuals and not-for-profits.
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Paycheck Protection Program (PPP)
04/05/2020
Paycheck Protection Program (PPP)

Paycheck Protection Program (PPP)

An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.

03/28/2020

To help give everyone relevant information on the latest changes to tax laws and government financial support, my company web site has a blog with short articles and links. Hope this helps:
Search for Burdette Smith & Bish LLC in Fairfax Virgina.

Facebook is not allowing me to post the link here.

BSB - CPAs and Business Advisors
03/21/2020

BSB - CPAs and Business Advisors

U.S. Treasury Announces Tax Deadline, Payment Extension.

Amid the COVID-19 pandemic, The U. S. Treasury Department and Internal Revenue Service (IRS) will provide some relief to taxpayers.

On March 20, Treasury Secretary Steven Mnuchin announced on Twitter that the IRS will extend the federal tax filing deadline from April 15, 2020 to July 15, 2020. This follows guidance released by the IRS which extended payment deadlines, but did not include an extension of the federal filing deadline.

On March 18, the IRS announced:

All individual and non-corporate federal tax payments (including self-employment tax) of up to $1 million can be deferred until July 15, 2020 with no interest or penalties.

Corporate federal tax payments of up to $10 million can also be deferred until July 15, 2020 with no interest or penalties.

Although the federal tax deadline has now been extended, Treasury Secretary Mnuchin has urged Americans to file by the original deadline of April 15 in order to take adv

BSB - CPAs and Business Advisors
03/03/2020

BSB - CPAs and Business Advisors

We are two weeks away from the deadline to file your S corporation tax return (Form 1120-S) or Partnership return (Form 1065).

March 16 is also the deadline to file for an extension for S corp and partnership tax returns.

#BSB #Accounting #TaxDeadline

BSB - CPAs and Business Advisors
02/04/2020

BSB - CPAs and Business Advisors

Not-for-profits face unique challenges when it comes to accounting. These organizations often experience scrutiny regarding their finances. Hiring an accountant helps not-for-profits stay compliant with laws and regulations, while allowing them to focus on what really matters: advancing their mission.

BSB provides independent audits for not-for-profits providing support to charities, trade associations, fine arts, youth associations, special interest lobbying groups, humanitarian endeavors, and community services. Our firm employs over forty professional accountants. We provide a variety of services to not-for-profits around the United States.

#BSB #WhatWeDo #Accounting

01/31/2020
BSB - CPAs and Business Advisors

BSB - CPAs and Business Advisors

Want to know more about what we do?
Stay tuned each week for a breakdown of our services!

#BSB #WhatWeDo #Accounting

BSB - CPAs and Business Advisors
01/15/2020

BSB - CPAs and Business Advisors

Don’t forget that the final fourth quarter payment deadline for your 2019 taxes is today!

Who must pay Estimated Tax:
Individuals, including sole proprietors, partners, and S corporation shareholders, generally have to make estimated tax payments if they expect to owe tax of $1,000 or more when their return is filed.

Corporations generally have to make estimated tax payments if they expect to owe tax of $500 or more when their return is filed.

BSB - CPAs and Business Advisors
01/09/2020

BSB - CPAs and Business Advisors

Thanks to all who attended our open house! It was great to see some old friends and make new ones. If you were not able to attend, but would like to stop by and get a tour of our new office space, please call one of our partners. We would love to see you!

BSB - CPAs and Business Advisors
12/31/2019

BSB - CPAs and Business Advisors

We've had some big changes this year with our name transitioning from Burdette Smith & Bish to BSB, as well as moving to our new office space! Please join us for our open house on Wednesday, January 8 from 4-6pm! Enjoy some light hors d'oeurves and mix and mingle with our staff!

Our new office is at 4114 Legato Road, Fifth floor. We look forward to seeing you!

BSB - CPAs and Business Advisors
12/21/2019

BSB - CPAs and Business Advisors

BSB - CPAs and Business Advisors
12/06/2019

BSB - CPAs and Business Advisors

Along with our new name and look, we're also moving to a new location! On December 9th, 2019, we will begin serving you from our new address 4114 Legato Road in Fairfax.

#BSB #NewLocation #Fairfax #Virginia #Accounting

I urge all of you who pay taxes in Virginia to contact your state legislator IMMEDIATELY BEFORE MONDAY, and urge them to...
02/09/2019
VSCPA Home

I urge all of you who pay taxes in Virginia to contact your state legislator IMMEDIATELY BEFORE MONDAY, and urge them to VOTE YES on ANY of the bills proposes to fix the tax problem. The Virginia tax department is not processing 2018 tax returns because there is a disconnect between Federal and state tax law, and disagreement among legislators on how to fix this. Without this legislation, you are likely to pay more in Virginia taxes.

BSB - CPAs and Business Advisors
02/07/2019
BSB - CPAs and Business Advisors

BSB - CPAs and Business Advisors

VA conformity delayed: "state has received 345,000 tax returns that have yet to be processed because state officials don’t know which guidelines to follow." said Secretary of Finance Aubrey Layne.

Great event!
09/17/2018
Women in Leadership

Great event!

Have you thought about a career change or want to move up or across your organization? Then don’t miss the Women in Business Signature event, How Smart Women Pivot and relaunch their careers.  This exceptional speaker series includes some of the most influential and powerful women in the region a...

ArtsFairfax
08/14/2018

ArtsFairfax

Fairfax County residents have the opportunity to provide input on the Master Plan for Performing and Visual Arts Facilities by participating in a survey to gauge the needs of the county's arts consumers.

Please participate and share this link. The survey closes Friday, Aug. 31st.

https://www.fairfaxcounty.gov/topics/projects-initiatives

Burdette Smith & Bish LLC
03/17/2018
Burdette Smith & Bish LLC

Burdette Smith & Bish LLC

This article helps explain the quandary we are facing in tax planning for 2018 - who gets the new deductions? No one really knows for sure!!

Burdette Smith & Bish LLC
02/07/2018
Burdette Smith & Bish LLC

Burdette Smith & Bish LLC

Find out if your meals & entertainment (M&E) expenses are deductible under the new tax law

Burdette Smith & Bish LLC
02/02/2018
Burdette Smith & Bish LLC

Burdette Smith & Bish LLC

Did you prepay your 2018 property tax? Find out if your county will issue you a refund.

12/22/2017
Burdette Smith & Bish LLC

Burdette Smith & Bish LLC

The President just signed the new tax bill into law. Be prepared for adjustments to your taxes for 2018!! You should be sure to talk to your tax adviser about how this will affect your personal tax situation, as this will impact everyone in a different way.

BSB - CPAs and Business Advisors
12/01/2017

BSB - CPAs and Business Advisors

"If you are never afraid, you are never testing your own limits," Sheila Johnson stated in her speech this morning. Great event sponsored by the NOVA Chamber's Women in Business Council. So happy I got to attend this with some of the most powerful and accomplished women in Northern VIrginia!

Burdette Smith & Bish LLC
11/16/2017
Burdette Smith & Bish LLC

Burdette Smith & Bish LLC

ALERT: The House passed a nearly $1.5 trillion tax bill today by 227-205 vote that would slash tax rates on corporations and private businesses, overhaul the individual tax code and eliminate taxes on wealthy heirs.

Azzad Funds
09/19/2016

Azzad Funds

Social Security: When should you start receiving retirement benefits?

Many people assume that they have to begin receiving Social Security retirement benefits as soon as they retire and stop working, but that’s not the case.

Retiring and claiming Social Security benefits are different. You have options, and learning about them may help you make a well-informed decision about when to start receiving your benefits.

Register: https://attendee.gotowebinar.com/register/6666794574177613572

Join us for a webinar with Fatima Iqbal, CFP, and Beth Moffett, CPA, to learn:
• how your Social Security benefit is calculated,
• the pros and cons of taking benefits early or delaying them,
• how your decisions about Social Security will affect your spouse,
• how your Social Security benefit will be taxed, and more.

After the presentation, we'll answer questions from attendees.

Tuesday, September 20, 12 p.m. Eastern

Register: https://attendee.gotowebinar.com/register/6666794574177613572

If you can’t attend the live webinar, feel free to register anyhow to receive a recording of the session by email. Of course we can only answer questions during the live webinar.

04/06/2016

WASHINGTON — As reports of phone scams as well as email phishing schemes continue across the country, the Internal Revenue Service warned taxpayers of a new phishing scam targeting Washington D.C., Maryland and Virginia residents.
This time, the email scammers are citing tax fraud and trying to trick victims into verifying “the last four digits of their social security number” by clicking on a link provided. The criminals specifically state that this is for tax filers in the District of Columbia, Maryland and Virginia. As a further attempt to trick residents of the Capital region, the email scam even suggests that information from recent data breaches across the nation may be involved.
“As we approach the final days of this filing season, we continue to see these tax scams evolve.” said IRS Commissioner John Koskinen. “We don’t send emails like this, and there’s no special effort underway for people in the District, Virginia and Maryland. As these criminals shift their tactics, the IRS remains committed to quickly warning the taxpayers who may be targeted. Taxpayers should be on the lookout for these scams.”
Last February, the IRS announced a 400 percent increase of these scams being reported when compared to the same period last year. As the email scams increase, the IRS continues its efforts to protect taxpayers, and has teamed up with state revenue departments and the tax industry to make sure taxpayers understand the dangers to their personal and financial data as part of the “Taxes. Security. Together” campaign.
In general, the IRS has added and strengthened protections in our processing systems this filing season to protect the nation's taxpayers. For this tax season, we continue to make important progress in stopping identity theft and other fraudulent refunds.
Protect Yourself
Phishing is a scam typically carried out with the help of unsolicited email or a fake website that poses as a legitimate site to lure in potential victims and prompt them to provide valuable personal and financial information. Armed with this information, a criminal can commit identity theft or financial theft.
If a taxpayer receives an unsolicited email that appears to be from either the IRS or an organization closely linked to the IRS, such as the Electronic Federal Tax Payment System (EFTPS), report it by sending it to [email protected]. Learn more by going to the Report Phishing and Online Scams page.
It is important to keep in mind that the IRS generally does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels. The IRS has information online that can help protect taxpayers from email scams.
Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the IRS. These are your Taxpayer Bill of Rights. Explore your rights and our obligations to protect them on IRS.gov.
Don’t be fooled by scammers. Stay safe and be informed.

02/18/2016
Burdette Smith & Bish LLC

Burdette Smith & Bish LLC

Consumers Warned of New Surge in IRS E-mail Schemes during 2016 Tax Season; Tax Industry Also Targeted

WASHINGTON - The Internal Revenue Service renewed a consumer alert for e-mail schemes after seeing an approximate 400 percent surge in phishing and malware incidents so far this tax season.
The emails are designed to trick taxpayers into thinking these are official communications from the IRS or others in the tax industry, including tax software companies. The phishing schemes can ask taxpayers about a wide range of topics. E-mails can seek information related to refunds, filing status, confirming personal information, ordering transcripts and verifying PIN information.
Variations of these scams can be seen via text messages, and the communications are being reported in every section of the country.
"This dramatic jump in these scams comes at the busiest time of tax season," said IRS Commissioner John Koskinen. "Watch out for fraudsters slipping these official-looking emails into inboxes, trying to confuse people at the very time they work on their taxes. We urge people not to click on these emails."
This tax season the IRS has observed fraudsters more frequently asking for personal tax information, which could be used to help file false tax returns.
When people click on these email links, they are taken to sites designed to imitate an official-looking website, such as IRS.gov. The sites ask for Social Security numbers and other personal information. The sites also may carry malware, which can infect people's computers and allow criminals to access your files or track your keystrokes to gain information.
The IRS has seen an increase in reported phishing and malware schemes, including:
• There were 1,026 incidents reported in January, up from 254 from a year earlier.
• The trend continued in February, nearly doubling the reported number of incidents compared to a year ago. In all, 363 incidents were reported from Feb. 1-16, compared to the 201 incidents reported for the entire month of February 2015.
• This year's 1,389 incidents have already topped the 2014 yearly total of 1,361, and they are halfway to matching the 2015 total of 2,748.
"While more attention has focused on the continuing IRS phone scams, we are deeply worried this increase in email schemes threatens more taxpayers," Koskinen said. "We continue to work cooperatively with our partners on this issue, and we have taken steps to strengthen our processing systems and fraud filters to watch for scam artists trying to use stolen information to file bogus tax returns."
As the email scams increase, the IRS is working on this issue through the Security Summit initiative with state revenue departments and the tax industry. Many software companies, tax professionals and state revenue departments have seen variations in the schemes.
For example, tax professionals are also reporting phishing scams that are seeking their online credentials to IRS services, for example the IRS Tax Professional PTIN System. Tax professionals are also reporting that many of their clients are seeing the e-mail schemes.
As part of the effort to protect taxpayers, the IRS has teamed up with state revenue departments and the tax industry to make sure taxpayers understand the dangers to their personal and financial data as part of the “Taxes. Security. Together” campaign.
If a taxpayer receives an unsolicited email that appears to be from either the IRS e-services portal or an organization closely linked to the IRS, report it by sending it to [email protected]. Learn more by going to the Report Phishing and Online Scams page.
It is important to keep in mind the IRS generally does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels. The IRS has information online that can help protect taxpayers from email scams.
Phishing and malware schemes again made the IRS "Dirty Dozen" tax scam list this year. Check out the last IRS Phishing Scam news release for more info.
What to look for in these scams
Taxpayers receive an official-looking email from what appears to be an official source, whether the IRS or someone in the tax industry.
The underlying messages frequently ask taxpayers to update important information by clicking on a web link. The links may be masked to appear to go to official pages, but they can go to a scam page designed to look like the official page. The IRS urges people not to click on these links but instead send the email to [email protected].
Recent email examples the IRS has seen include subject lines and underlying text referencing:
• Numerous variations about people's tax refund.
• Update your filing details, which can include references to W-2.
• Confirm your personal information.
• Get my IP Pin.
• Get my E-file Pin.
• Order a transcript.
• Complete your tax return information.
Numbers provided are for phishing and malware incidents combined.
Additional IRS Resources:
www.irs.gov/identitytheft
• IRS and Partner Statements on the October 2015 Security Summit Meeting
• Fact Sheet 2016-1, IRS, States and Tax Industry Combat Identity Theft and Refund Fraud on Many Fronts
• Fact Sheet 2016-2, IRS, States and Tax Industry Urge Taxpayers to Join the Effort to Combat Identity Theft
• Fact Sheet 2016-3, IRS Identity Theft Victim Assistance: How It Works
• Fact Sheet 2016-4, How New Identity Security Changes May Affect Taxpayers for 2016

Tysons Tiles
10/27/2015
Tysons Tiles

Tysons Tiles

Tysons Tiles is two visually compelling ground murals that raise community awareness of potential for public art and the arts at Tysons. Data collected from over 1,000 individuals is visually translated into a vibrant design creating awareness about the arts, using arts to enhance place making, and…

Address

4053 Ridge Top Rd, Ste 550
Fairfax, VA
22030

Telephone

(703) 591-5200

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