AD&A CPAs

AD&A CPAs, located in Chantilly, VA, is a full-service, tax preparation, CPA firm focusing on small business and personal IRS taxation. We provide individual tax preparation with the personalization that software packages can't. We keep up-to-date with the changing tax laws, as well as your changing life events, such as the birth of a child, a new business, new home, or inheritance. As a CPA firm, we adhere to certain ethical standards and codes of professional conduct established by governmental bodies and peer organizations.

Operating as usual

01/21/2020

The Appropriations Act of 2020 retroactively reinstated the above-the-line deduction for higher education tuition and expenses from 2018 to 2020, restoring an additional option for tax benefit claims.

01/21/2020

The number-one threat to your business isn't an external factor at all. It's the people you've cofounded that business with. Watch the video to learn more.

01/16/2020
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Beginning in 2020, Congress has substantially increased the tax credit for employers that incur certain administrative expenses when initially beginning a company pension plan.

01/14/2020
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Beginning in 2020, a new labor law in California means a great majority of workers who were previously treated as independent contractors are now employees, and there are substantial penalties for misclassification. Plus, other states are sure to follow.

Tax Accounting Humor Friday
01/10/2020

Tax Accounting Humor Friday

01/09/2020
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To be deductible, medical expenses must exceed a percentage of a taxpayer's adjusted gross income (AGI). The Appropriations Act of 2020, passed late in December 2019, reduced that limitation from 10% of AGI to 7.5% of AGI, allowing more taxpayers to qualify for the deduction.

Wednesday Wisdom
01/08/2020

Wednesday Wisdom

The Internal Revenue Service recently issued the 2020 optional standard cents-per-mile rates for business, medical and m...
01/07/2020
2020 Standard Mileage Rates Announced

The Internal Revenue Service recently issued the 2020 optional standard cents-per-mile rates for business, medical and moving purposes. However, you may find it in your best interest to keep track of actual expenses for 2020.

The Internal Revenue Service (IRS) computes standard mileage rates for business, medical and moving each year, based on a number of factors, to determine the standard mileage rates for the following year.

Tax Accounting Humor Friday
01/03/2020

Tax Accounting Humor Friday

A frequent question asked by many taxpayers during this time of year is, "do I have to file a return"? That question is ...
01/03/2020
Do I Have to File a Tax Return?

A frequent question asked by many taxpayers during this time of year is, "do I have to file a return"? That question is far more complicated than people believe since there are times when individuals are required to file a tax return, and then there are times when it is to the individuals' benefit to file a return even if they are not required to file.

This is a question many taxpayers ask during this time of year, and the question is far more complicated than people believe. To fully understand, we need to consider that there are times when individuals are REQUIRED to file a tax return, and then there are times when it is to the individuals’ BE...

Wednesday Wisdom
01/01/2020

Wednesday Wisdom

Taxpayers are frequently blindsided when their filing status changes because of a life event such as marriage, divorce, ...
12/31/2019
Divorced, Separated, Married or Widowed This Year? Unpleasant Surprises May Await You at Tax Time

Taxpayers are frequently blindsided when their filing status changes because of a life event such as marriage, divorce, separation or the death of a spouse. These occasions can be stressful or ecstatic times, and the last thing most people will be thinking about are the tax ramifications. But the ramifications are real and need to be considered to avoid unpleasant surprises.

Taxpayers are frequently blindsided when their filing status changes because of a life event such as marriage, divorce, separation or the death of a spouse. These occasions can be stressful or ecstatic times, and the last thing most people will be thinking about are the tax ramifications. But the ra...

Tax Accounting Humor Friday
12/27/2019

Tax Accounting Humor Friday

As tax season approaches, scammers are plotting to take advantage of your fear of the IRS to steal your identity or your...
12/26/2019
Don't Be Duped by Clever Scammers

As tax season approaches, scammers are plotting to take advantage of your fear of the IRS to steal your identity or your tax refund, or even to dupe you into sending them money to pay for made-up tax liabilities. Don't be a victim of these scams. Stop and think before being sucked into the scammers' webs.

You may think we harp on you a lot about protecting yourself against identity theft and tax scams. You are right… but we do it because having your identity stolen becomes an absolute financial nightmare, sometimes taking years to straighten out. Identity thieves are clever and relentless, and they...

Wednesday Wisdom
12/25/2019

Wednesday Wisdom

Congress's last-minute tax changes will affect just about everyone, and in many instances, the changes are retroactive a...
12/23/2019
Congress Passes Last-Minute Tax Changes

Congress's last-minute tax changes will affect just about everyone, and in many instances, the changes are retroactive and will open the door to filing amended returns for tax refunds. Everyone should review the numerous provisions to see where they might benefit.

Congress, at almost the last minute, has passed a large number of tax changes, including retirement plan issues that will become effective in 2020, as well as extensions through 2020 of a number of tax provisions that had expired or were about to end. The list of changes is quite large, so we have o...

Tax Accounting Humor Friday
12/20/2019

Tax Accounting Humor Friday

Do you know what your business credit score is? This is the main way third parties - like lenders, creditors, and trade ...
12/19/2019
Repairing Your Business’s Bad Credit Score

Do you know what your business credit score is? This is the main way third parties - like lenders, creditors, and trade partners - can measure your company's financial health. Learn more about building solid business credit in today's blog.

Your business credit score is the main way third parties can measure your company’s financial health. Here’s how to keep a solid handle on it.

Virtually everyone is subject to income tax and should know the basic terms associated with taxes, such as filing status...
12/19/2019
Understanding Tax Lingo

Virtually everyone is subject to income tax and should know the basic terms associated with taxes, such as filing status, head of household, dependents, exemptions, itemized deductions, adjusted gross income, modified adjusted gross income, credits, marginal tax rate, tax bracket, alternative minimum tax, earned income tax credit, and more.

When discussing taxes, reading tax related articles or interpreting instructions, one needs to understand the lingo and acronyms used by tax professionals and authors to be able to grasp what they are saying. It can be difficult to understand tax strategies if you are not familiar with the basic ter...

Wednesday Wisdom
12/18/2019

Wednesday Wisdom

If you are receiving Social Security benefits, are you aware that your income two years ago can impact the cost of your ...
12/17/2019
Understanding Your Annual Social Security Letter

If you are receiving Social Security benefits, are you aware that your income two years ago can impact the cost of your Medicare B and D premiums?

If you are receiving Social Security, then you have just recently received your annual letter from the Social Security Administration letting you know that your Social Security benefits for 2020 have increased by 1.6 percent as a result of a rise in the cost of living. The letter also lets you know....

Congress passed the Budget Bill last Thursday night, and the president signed it on Friday. To the surprise of many, the...
02/12/2018
Surprise! Extender Bill Passed: Do You Benefit?

Congress passed the Budget Bill last Thursday night, and the president signed it on Friday. To the surprise of many, the bill included a number of extenders that retroactively apply to 2017 returns. Were you lucky enough to benefit?

Congress passed the Budget Bill last Thursday night, and the president signed it on Friday. To the surprise of many, the bill included a number of extenders that retroactively apply to 2017 returns. Were you lucky enough to benefit?

For tax years 2018 through 2025, the Tax Cuts & Jobs Act has suspended the itemized deduction for personal casualty and ...
02/07/2018
Personal Casualty Losses Axed by the New Tax Law

For tax years 2018 through 2025, the Tax Cuts & Jobs Act has suspended the itemized deduction for personal casualty and theft losses other than those within a presidentially declared disaster. This may be a good time for you to review your insurance coverage.

A casualty loss occurs when there is property damage from a sudden, unanticipated event, not from gradual, progressive damage. Examples of events qualifying as a casualty include: acts of nature like hurricanes, tornadoes, floods, storms, and volcanic eruptions; shipwrecks; sonic booms; vandalism; f...

If you are an employee (i.e., a W-2 wage earner) with substantial work-related business expenses, the new tax law was no...
02/06/2018
Employee Business Expenses & Tax Reform

If you are an employee (i.e., a W-2 wage earner) with substantial work-related business expenses, the new tax law was not kind to you. Beginning in 2018 and continuing through 2025, your work-related business expenses will not count as part of your federal itemized deductions.

If you are an employee (i.e., a W-2 wage earner) with substantial work-related business expenses, the Act was not kind to you. It suspended (and effectively repealed), for 2018 through 2025, all miscellaneous itemized deductions, which were previously only subject to a floor of 2% of adjusted gross....

Prior law allowed taxpayers, in a taxable conversion, to convert a traditional IRA to a Roth IRA and later change their ...
02/01/2018
Tax Reform Cracks Down on IRA Recharacterizations

Prior law allowed taxpayers, in a taxable conversion, to convert a traditional IRA to a Roth IRA and later change their minds and undo the conversion. Unfortunately, the Tax Cuts & Jobs Act pulled the plug on that strategy, and beginning in 2018, taxpayers can no longer undo a conversion. Once you make a conversion, you will have to live with the tax consequences.

If you have been or are anticipating converting your traditional IRA to a Roth IRA, you should be aware of a tax trap that Congress built into the Act.

After over 30 years of little changes to the tax code, the Tax Cuts and Jobs Act (H.R. 1) delivered a major change to th...
01/31/2018
Tax Reform Central: All About the Tax Cuts and Jobs Act

After over 30 years of little changes to the tax code, the Tax Cuts and Jobs Act (H.R. 1) delivered a major change to the law for 2018. Bookmark this article for frequent updates and planning tips.

After over 30 years of little changes to the tax code, the “Tax Cuts and Jobs Act” (H.R. 1) delivered a major change to the law for 2018. The changes affect both individuals and business owners, so careful planning and analysis are needed to make the right financial choices. We have compiled the...

The tax reform bill has provided a new and substantial tax benefit for most business owners in the form of a deduction t...
01/30/2018
Have Business Income? If So, You Score Big With The New Tax Reform

The tax reform bill has provided a new and substantial tax benefit for most business owners in the form of a deduction that is equal to 20% of their qualified business income. However, Congress forgot about its promise to simplify taxes; this deduction is extremely complicated.

As part of the Act, Congress changed the tax-rate structure for C-corporations to a flat rate of 21% instead of the former graduated rates that topped out at 35%. Needing a way to equalize the rate reduction for all taxpayers with business income, Congress came up with a new deduction for businesses...

Individuals with seriously delinquent tax debt of more than $51,000 may have their request for issuance or renewal of a ...
01/25/2018
If You Owe the IRS a Lot of Money, You May Not Want to Plan Any Out-of-the-Country Trips

Individuals with seriously delinquent tax debt of more than $51,000 may have their request for issuance or renewal of a passport denied, or even have their passport revoked, under a joint program between the IRS and the U.S. State Department.

As promised several months back, the IRS has begun to crack down on seriously delinquent taxpayers. A law passed on Dec. 4, 2015, requires the IRS to notify the U.S. State Department when someone has “seriously delinquent tax debt,” after which the State Department will generally deny an applica...

The new tax reform law retained the deduction for medical expenses and temporarily dropped the deduction floor to 7.5% o...
01/23/2018
Medical Deductions & The New Tax Law

The new tax reform law retained the deduction for medical expenses and temporarily dropped the deduction floor to 7.5% of income. Medical deductions are itemized, so to get any tax benefit from medical expenses, your itemized deductions must exceed the new standard deduction, which is $24,000 for joint filers, $18,000 for a head of household, and $12,000 for anyone else.

The Act’s final version retained the itemized deduction for medical expenses even though the original House version would have done away with this deduction altogether.

In the new tax law, Congress has reduced the amount that can be deducted as home mortgage interest beginning in 2018. Ge...
01/17/2018
New Tax Law Cracks Down on Home Mortgage Interest

In the new tax law, Congress has reduced the amount that can be deducted as home mortgage interest beginning in 2018. Generally, for any home purchases made after 12/14/2017, interest will be deductible only on a maximum of $750,000 of home acquisition debt. In addition, home equity interest will no longer be deductible.

For years, taxpayers have been able to deduct home mortgage interest on their primary and second homes as an itemized deduction, subject to certain limitations. The interest deduction was limited to the interest on up to $1 million of acquisition debt and $100,000 of equity debt.

The IRS has released modified withholding tables for employers to use for determining employee withholding under the new...
01/15/2018
Will Your 2018 Withholding Be Right?

The IRS has released modified withholding tables for employers to use for determining employee withholding under the new tax law. You are cautioned to keep an eye on your take-home pay to ensure your withholding has not changed too drastically once your employer starts using the new IRS tables.

One of the first trouble spots of the new tax reform is the W-2 withholding for 2018. Passage of the new law in late December hasn’t given the IRS much time to develop new withholding tables. This can be a big issue, as the recent Tax Cuts & Jobs Act (TCJA) substantially altered the tax rates and ...

Address

201 Park Washington Court
Falls Church, VA
22046

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

Telephone

(703) 517-7899

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