Built on a solid foundation of excellent client service and in-depth market knowledge, Berg Faircloth
Berg Faircloth is built on a solid foundation of excellent client service and in-depth market knowledge. We strive to develop a working relationship with each client to foster a greater understanding of your needs and objectives while maintaining the ethical standards of our profession. We provide tax and accounting services for individual and business clients.
06/20/2025
Data isn’t just numbers; it’s power! Small businesses can use data analytics to understand customers, spot trends, and grow. Start small, think big, and make data work for you. https://bit.ly/3FiDzDS
📞:(703) 821-1040
In today's fast-paced digital world, data is everywhere. Every click, purchase, and interaction generates valuable insights that can propel your business forward. By leveraging data analytics, you can unlock hidden opportunities, make informed decisions, and drive sustainable growth. If you're looki...
06/18/2025
A levy is one way the IRS collects taxes that aren't paid voluntarily. It involves the IRS legally seizing money or assets to satisfy a tax debt. A levy could include a person's wages, bank accounts, Social Security benefits and retirement income. The IRS may also levy and sell assets such as a car, boat or real estate. In addition, if a person has an outstanding tax liability, the IRS will take any unpaid federal tax refunds to offset the amount owed. Any state income tax refund due may also be levied, and the proceeds applied to a tax liability. Contact us with questions at (703) 821-1040.
06/17/2025
For those age 50 or older, a great way to make up for not having saved enough for retirement in the past (or to simply maximize your tax-advantaged nest egg) is to make “catch-up” contributions to a 401(k), 403(b), 457 plan, SIMPLE or IRA. New starting in 2025, if you’re age 60 to 63, you can boost your 401(k) or other employer-sponsored retirement plan contribution even more: up to 150% of the regular catch-up limit. For 2025, this means a catch-up contribution of $11,250 ($5,250 for SIMPLEs). Want to make the most of tax-advantaged retirement savings opportunities? Let’s talk! (703) 821-1040
06/16/2025
Estate planning is an ongoing process that requires regular reviews and revisions to ensure it meets your goals. Family changes like marriages, divorces, births, adoptions and deaths, as well as significant health changes, warrant a review. Increased income or net worth may necessitate new wealth protection strategies. Moving to a new state or changes in tax laws can also impact your plan. Contact us at (703) 821-1040 for help achieving your estate planning goals! Ensuring your estate plan stays aligned with your goals means regular reviews and adjustments. Family events, health changes, financial growth, or even relocation can impact your plan. Stay proactive and let us help you achieve your estate planning goals! Contact us at (703) 821-1040 for expert guidance.
06/13/2025
Want to pay less in taxes and grow your savings? Tax-advantaged accounts like IRAs, HSAs, and 529 plans make it possible. Learn how to use them to your advantage! https://bit.ly/4jYBH2h
📞:(703) 821-1040
Tax-advantaged accounts are powerful tools for growing your savings while reducing your tax burden. These accounts are designed to encourage saving for specific purposes, such as retirement, healthcare, or education, by offering tax benefits. Understanding how these accounts work and choosing the ri...
06/11/2025
The GST tax is a key consideration for estate planning, especially for large estates. With a generous exemption of $13.99 million in 2025, many taxpayers may not be affected. However, for those with substantial wealth, strategic allocation of the GST tax exemption to a dynasty trust can help assets bypass multiple generations of taxation. Contact us at (703) 821-1040 to explore your options.
06/10/2025
Changing jobs? Avoid the tax hit and possible early withdrawal penalties of a lump-sum distribution from your 401(k) or other employer-sponsored retirement plan. If your balance is at least $7,000, leaving it in your old plan is easy. But watch out for additional fees and limited investment options. Alternatively, rolling over the balance to your new employer’s plan simplifies retirement asset management. But investment choices may still be limited. If you don’t mind managing two plans, a rollover to an IRA may be your best option. An IRA offers nearly unlimited investment options. Need guidance? Contact us at (703) 821-1040.
06/09/2025
Attention! Did you know that if you have seriously delinquent tax debt, you could lose your passport? The IRS can "certify" unpaid federal tax debts over $64,000 to the U.S. State Department, which can then deny or revoke your passport. This means no new passport applications or renewals until your tax issues are resolved. If you're overseas, you might only get a limited-validity passport to return to the U.S. What's unpaid federal tax debt? It includes individual income taxes, trust fund recovery penalties, business taxes for which taxpayers are personally liable and other civil penalties. Questions? Contact us at (703) 821-1040.
06/06/2025
Small business owners: Don’t leave money on the table! From tax credits to equipment deductions, there are several tax relief programs that can boost your bottom line. https://bit.ly/4kqC1GP
📞:(703) 821-1040
Running a small business comes with a variety of challenges. From managing payroll to staying competitive in your market, the responsibilities can seem endless. One of the most pressing issues small business owners face is managing tax obligations. If you've ever felt overwhelmed by your tax burden,...
06/04/2025
It’s alright to feel overwhelmed with the idea of dividing everything you own between your loved ones; we’re here to make this process as easy as possible. Before your first consultation with us, use this guide to figure out what assets you want to prioritize, your loved ones' needs, and what other information to bring along with you. Call us today at (703) 821-1040 to schedule this meeting and follow our page for more personal finance and estate planning tips!
06/03/2025
Making your maximum 2025 IRA contribution earlier in the year provides some key benefits: Your money has more time to grow tax-deferred (or tax-free in the case of a Roth IRA), and you won't risk forgetting to contribute later. However, tying up funds too soon could limit cash available for other financial needs or investment opportunities. The best timing depends on your specific situation. Let's discuss the right strategy for you. Call us today at (703) 821-1040.
06/02/2025
It’s always important to review your estate plan after creating it, but how often should you do it? It’s best to adjust your estate plan after every significant life event, including marriage, divorce, birth or adoption of a child, death of a beneficiary, or significant changes to your financial status. Review your plan every five years as well. You've come to the right place if you need help with your estate plan - schedule an appointment with us today at (703) 821-1040!
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For over 60 years Berg Faircloth & Company has enjoyed a reputation for highly personalized accounting services for business owners and individuals alike. We have passed-down a philosophy of superior client service and skill to each partner and member of our team. It is our mission to help clients enjoy better financial health and benefit from an organized tax and accounting strategy.
A Legacy of Quality Accounting Services in Leesburg
Our firm was founded by Eli Berg, who later promoted Oscar L. Faircloth to partner in 1963. Oscar’s son and daughter, Ricky L. Faircloth, PFS and Angela K. Wyrick, CPA, PFS were brought on and later made partners themselves in 1992 and 2001, respectively. Leadership in tax and accounting is a part of our family history and makes our firm truly unique. When you visit Berg Faircloth & Company, you can trust your finances will be handled by a team with a shared vision and passion for problem-solving and best-quality service.
Welcoming New Tax and Accounting Clients
Whether you are a business owner looking for improved tax and accounting strategies, or you need assistance with multiple income channels, our team is here to help. Your first consultation includes a review of your last two years’ worth of tax returns. For business owners, we take partnership interests into account and make them a part of the accounting strategy as well.
During this meeting, we make it a point to determine where clients can save money, how their tax strategy can be improved, or what proactive steps can be taken to increase compliance and reduce risk. We ensure your visit with our professionals is efficient and that we make the most of the time you have set aside to speak with us.
Where to find us
You can find our Leesburg accounting firm directly across the street from the Lansdowne Woods (formerly Leisureworld) and close to Inova Hospital - Landsdowne Campus. We welcome you to read more about our team and services on our website or contact our office today for a consultation!
