Clarkson David, CPA, P.C.

Clarkson David, CPA, P.C. Certified Public Accounting Firm

Maximize your business tax deductions. Minimize your stress. Let us handle your company’s tax planning, return preparati...
12/24/2025

Maximize your business tax deductions. Minimize your stress. Let us handle your company’s tax planning, return preparation and strategy so you can focus on taking your business to the next level. Contact us at (804) 749-4500.

Engaging independent contractors can be a smart business strategy under the right circumstances. For example, your compa...
12/23/2025

Engaging independent contractors can be a smart business strategy under the right circumstances. For example, your company might experience a seasonal upswing in workload or require specialized skills for a short period. However, there can be negative tax consequences if you inadvertently mishandle the relationship and the IRS can recharacterize an independent contractor as an employee. Please contact us at (804) 749-4500 for help understanding the tax implications and staying in compliance.

Estate tax laws are complex, and failing to plan could mean leaving your loved ones with less than what you’d expected. ...
12/22/2025

Estate tax laws are complex, and failing to plan could mean leaving your loved ones with less than what you’d expected. Now is the time to take action by reviewing your estate plan, updating beneficiary designations, and exploring strategies such as gifting or establishing trusts that may help minimize tax exposure. Every situation is unique, and the right approach depends on your family’s needs, assets and long-term goals. Contact us at (804) 749-4500 to ensure that your estate is structured in the most tax-efficient way possible.

Does your business provide relocation benefits for employees? Under current tax law, employers can deduct payments to em...
12/19/2025

Does your business provide relocation benefits for employees? Under current tax law, employers can deduct payments to employees for relocation costs, such as moving services, storage expenses and transportation. But these amounts are generally taxable to employees, except for active-duty military personnel. That means employers are required to include relocation benefits in the employee’s gross income and withhold and pay applicable payroll taxes on the payments. 2025 legislation made this tax law provision permanent, but it added another exception for “intelligence community members” that starts in 2026. Contact us if you have questions.

Starting in 2025, the cap on state and local tax (SALT) deductions increases from $10,000 ($5,000 for married couples fi...
12/17/2025

Starting in 2025, the cap on state and local tax (SALT) deductions increases from $10,000 ($5,000 for married couples filing separately) to $40,000 ($20,000 for separate filers). If your 2026 property taxes have already been assessed, prepaying them in 2025 could help you maximize your 2025 deduction. But keep in mind that the cap is reduced for taxpayers with modified adjusted gross incomes over $500,000 ($250,000 for separate filers). Let us help you determine how to incorporate the increased SALT deduction limit into your tax planning. Call us at (804) 749-4500.

Wage garnishment can be tough. It allows creditors to collect a debt by legally withholding a portion of an employee’s p...
12/16/2025

Wage garnishment can be tough. It allows creditors to collect a debt by legally withholding a portion of an employee’s paycheck, but it comes with limits and employee protections. Garnishments are often triggered by government debts such as child support, student loans, tax levies, or court judgments. Before withholding can begin, you must be notified of the order to withhold. Some portion of your wages must be exempt per state law. If you’re hit with a garnishment order you believe is incorrect or unfair, you have the right to challenge it. Contact us for help with this matter at (804) 749-4500.

If you're in a dispute with the IRS, mediation — also called “alternative dispute resolution” — may be a helpful option....
12/15/2025

If you're in a dispute with the IRS, mediation — also called “alternative dispute resolution” — may be a helpful option. It's a voluntary, nonbinding process that may offer a faster, less stressful way to avoid lengthy appeals or costly court battles. Both parties to mediation can walk away at any time. Mediation is especially useful for taxpayers with limited issues or those seeking quicker resolution during the early stages of an audit. However, it doesn’t replace the audit or collection process and doesn’t allow new evidence. We’re here to discuss this and other options with you at (804) 749-4500.

The new tax law introduced deductions for qualified tips and qualified overtime compensation. Specifically, for 2025 thr...
12/12/2025

The new tax law introduced deductions for qualified tips and qualified overtime compensation. Specifically, for 2025 through 2028, it creates a deduction of up to $25,000 for tips income in certain industries. It also creates a deduction of up to $12,500 ($25,000 for joint filers) for qualified overtime pay. Because employers and payors may not yet have adequate procedures to comply with the new rules, the IRS has designated 2025 as a transition period and is providing penalty relief. Notice 2025-62 offers relief to employers and payors for not filing correct information returns and not providing correct payee statements to employees and other payees. For more information, call us at (804) 749-4500.

Navigating tax law can be complex. But you don’t have to do it alone. Whether you’re filing as an individual taxpayer or...
12/10/2025

Navigating tax law can be complex. But you don’t have to do it alone. Whether you’re filing as an individual taxpayer or running a business, we can provide solutions tailored to you. Contact us at (804) 749-4500 for help ensuring tax compliance and maximizing tax savings.

Sponsoring a qualified retirement plan is a tried-and-true way to help attract and retain employees. Among the most popu...
12/08/2025

Sponsoring a qualified retirement plan is a tried-and-true way to help attract and retain employees. Among the most popular options is a 401(k). Your business’s contributions are tax deductible, and you may be able to use matching and a vesting schedule to encourage employees to stay with your company. But 401(k)s come in many varieties. Please contact us at (804) 749-4500 for help choosing the right one for your business (or another type of retirement plan).

The Social Security Administration said that Social Security benefits for 2026, including Old-Age, Survivors, and Disabi...
12/05/2025

The Social Security Administration said that Social Security benefits for 2026, including Old-Age, Survivors, and Disability Insurance (OASDI), and Supplemental Security Income (SSI) payments, will increase 2.8%. These changes reflect cost-of-living adjustments based on inflation. Social Security retirement benefits will increase by about $56 per month on average starting in January. Increased payments to SSI recipients will begin on Dec. 31, 2025. (Note: Some people receive both Social Security benefits and SSI.) The maximum earnings subject to Social Security tax (the so-called “wage base”) will increase $8,400, from $176,100 to $184,500. Have questions about the Social Security tax? Call us at (804) 749-4500.

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16595 Pouncey Tract Road
Rockville, VA
23146

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Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

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(804) 749-4500

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