I N D U S T R I E S 

NONPROFIT

Nonprofits have unique reporting requirements and tax/accounting issues. The BSB Nonprofit team helps keep you in compliance so you can focus on serving your greater mission.

Not only does our Nonprofit team specialize in providing professional accounting services to Nonprofits, but we are also personally involved in serving and supporting organizations throughout the Fairfax area. Visit our About Us page to see our team in action!

Leadership

BSB Performs Independent Audits For
  • Professional, trade and membership organizations
  • Charitable, civic, and community organizations
  • Foundations (public and private)
  • Educational institutions
  • Research and scientific organizations
  • Cultural and fine arts organizations
  • Religious organizations
Services
  • Assurance
  • Financial Statement Preparation
  • Tax Compliance & Planning
  • Accounting & Advisory
  • Consulting

Revisiting Eligibility for Small Business Taxpayer Exemptions

| TAX | No Comments
“An exemption from UNICAP? And no limitation on the amount of business interest expense I can deduct? Sign me up!” Many taxpayers (and their tax return preparers) have eagerly embraced…

Complying with SECURE Act Changes to Long-Term Part-Time Employee Eligibility and IRS Form 5500

| TAX | No Comments
Two significant regulatory changes to retirement plans require immediate attention from plan sponsors, both to ensure current operational compliance and to comply with upcoming deadlines. Many long-term, part-time (LTPT) employees…

Virginia Issues Final PTET Guidance for Tax Years 2022-2025 and Retroactive Guidance for Tax Year 2021

| TAX | No Comments
On January 17, the Virginia Department of Taxation (DOT) issued final guidelines for the commonwealth’s pass-through entity tax (PTET) for tax years 2022 through 2025, and on March 4, it…

Treasury, IRS Release Final Regulations on Elective Pay Election for Energy Tax Credits

| TAX | No Comments
The Department of the Treasury and the IRS on March 5 released final regulations (TD 9988) on the elective pay election for certain energy tax credits under IRC Section 6417,…