About: Practical Accounting Solutions was founded in November 2014, to provide the highest level of accounting service in the Fredericksburg region. We take a practical view of the needs of individuals and small business owners, and their needs and wants of accounting professionals. The professionals of Practical Accounting Solutions have many years of experience providing accounting services to individuals and businesses in the Fredericksburg region. This includes tax preparation, bookkeeping, payroll, business valuation, business start-up assistance, as well as tax planning. Our professionals want you to understand your finances and ways that you can improve your financial status on a short-term and long-term basis. For our business clients, we make onsite visits throughout the Fredericksburg region (Fredericksburg, Spotsylvania, Stafford, Caroline, and King George) to study your business and its accounting procedures from the inside out. We turn your accounting information into a management tool, empowering you to benefit from the accounting solutions we provide. Through regular contact with your company, we operate as a trusted advisor, working together to support your business objectives with innovative accounting and tax solutions. Our approach is to guide you through the accounting processes, not shelter you from them. We’re here for you year-round, and we’re proactive by making recommendations, watching deadlines, and completing projects long before they are due. Our primary mission is to maximize benefits to our clients by providing quality, personalized, and attentive accounting services. As your trusted advisor, we’re dedicated to doing everything we can to improve your business practices and operations so you can relax and focus on what you do best: growing your business.

Specialties: Individual Income Tax Preparation Business Income Tax Preparation Non-Profit Income Tax Preparation Home Owner’s Association Income Tax Preparation Monthly Sales Tax Preparation Monthly Meals Tax Preparation Monthly Lodging Tax Preparation Create Chart of Accounts Enter debits and credits from receipts, checks, bank statements, etc. Reconcile general ledger to bank statement(s) Creation of Profit/Loss Reports Creation of Balance Sheet Reports] Manage asset reporting and depreciation Creation of other reports as requested by each client Assist in managing cash flow Accounts Receivable Processing Accounts Payable Processing Weekly, Bi-Weekly or Monthly Payroll processing Creation of Paystubs Creation of Paychecks for employees and independent contractors Schedule Direct Deposit for employees and independent contractors Withhold amounts for benefits and other items from employee pay (i.e. health insurance, retirement, garnishments, etc.) Creation of Payroll summary report which includes tax and withholding amounts Schedule Bi-weekly, Monthly or Quarterly payroll tax payments to the IRS Schedule Bi-weekly, Monthly or Quarterly employee withholding tax payments to the VA Department of Taxation Schedule Quarterly unemployment tax payments to the Virginia Employment Commission Schedule Annual Federal Unemployment tax payments to the IRS Creation/Filing of Quarterly Form 941 for IRS Creation/Filing of Bi-Weekly, Monthly or Quarterly Form VA-5 for VA Department of Taxation Creation/Filing of Quarterly Form FC 20/21 for the Virginia Employment Commission Creation/Filing of Annual Form 940 for IRS Creation/Filing of Annual Form VA-6 for VA Department of Taxation Creation of W2 and 1099-MISC forms for employees and Independent Contractors Creation/Filing of W3 and 1096 forms with the Social Security Administration and Virginia Department of Taxation.

Office Hours: Tuesday and Wednesday 3 pm-7 pm Thursday and Friday 10 am-2 pm.