Who We Are

STEPHANIE ARRINGTON, CEO, PRINCIPAL CONSULTANT

INTEGRITY

Integrity is the practice of being honest and showing a consistent and uncompromising adherence to strong moral and ethical principles and values. Our high standards, service and specialized staff spell the difference between our outstanding performance, and other firms. We make sure that every client is served by the expertise of our whole firm.

ACCOUNTABILITY

Integrity is the practice of being honest and showing a consistent and uncompromising adherence to strong moral and ethical principles and values. Our high standards, service and specialized staff spell the difference between our outstanding performance, and other firms. We make sure that every client is served by the expertise of our whole firm.

TEAMWORK

Integrity is the practice of being honest and showing a consistent and uncompromising adherence to strong moral and ethical principles and values. Our high standards, service and specialized staff spell the difference between our outstanding performance, and other firms. We make sure that every client is served by the expertise of our whole firm.

CLIENT TESTIMONIALS

SMALL BUSINESS FAQ

You need to keep track of business records to file taxes, measure profitability, and secure funds. Not to mention, you should always keep records handy in case of an audit. Examples include Business tax returns, financial statements, and bank statements. An accountant can tell you which records your business needs.

To make tax season a breeze for both you and your accountant, ask your accountant what information you need to gather for them ahead of time. And, ask them how you can better organize your records to make tax filing easier (e.g., using accounting software). The more organized your records are, the less time it will take your accountant to prepare the tax forms.

Ask your accountant which business tax deductions you’re eligible for. Your accountant can help you iron out which ones to take advantage of and how to claim them.
Here are a few business tax deductions that you may be eligible for:

    1. Home office expenses
    2. Business use of car
    3. Business travel

As a business owner, you may be responsible for paying estimated taxes. Estimated tax is a method that individuals use to pay tax on income that is not subject to withholding taxes.  Talk to your accountant about estimated taxes and whether or not you need to pay them each quarter. Your accountant can file and remit estimated taxes for you.

Your accountant can help you understand your cash flow, pinpoint and analyze problems, and establish a plan to improve it. Plus, your accountant can help you come up with a cash flow projection to plan and manage for the future.

Your break-even point occurs when your total sales equal your total expenses. When you break-even, you’re finally making enough to cover your operating costs.  Your break-even point is essential for pricing your products and/or services. It can help you set a budget, control costs, and decide on a pricing strategy.  Your accountant can use your financial records to calculate what your business’s break-even point is. By knowing your point, you can determine if your company is making a profit, losing money, or just breaking even.

Accountants are financial and tax experts. They know which opportunities best promote growth and those from which you need to steer clear. Your accountant can track your financial progress and see what’s holding your business back (e.g., overspending on XYZ). And, they can help you project your cash flow so you can better plan for future expenses and opportunities.

Choosing a business structure is one of the first steps you take when you start your business. And, there are pros and cons to each type of business structure. An accountant can point you in the right direction.

A huge responsibility of becoming an employer is classifying your employees. Is your new worker an employee or an independent contractor?  Misclassifying your workers could lead to tax problems and penalties. Asking your accountant for assistance can help you avoid worker misclassification issues.

To grow your business, you may need additional funds to take on larger projects. Your accountant can help you sort out the best small business financing options.

Some funding options include:

    1. Loans
    2. Business development grants
    3. Business credit cards
    4. Investors
    5. Crowdfunding

Depending on your business, you may need to file and remit:

    1. Corporate income taxes
    2. Personal income taxes
    3. Payroll taxes
    4. Employment taxes
    5. Sales taxes
    6. Excise taxes
    7. Self-employment taxes
    8. Estimated taxes

Talk with your accountant to figure out which taxes apply to you and your business. And, discuss the process of filing and remitting your taxes (e.g., when they are due, what forms to use, etc.).

ABOUT US FAQ

All scheduling is done through our scheduling app, vCita, located on our website at preciseacctax.com.  Executive Assistant, Deborah Jennings (djennings@preciseacctax.com), is available to assist during normal business hours.

We offer a variety of business development solutions including business formation services, outsourced CFO services, payroll, QuickBooks training, and financial advisory to name a few.

M-Th, 11a – 6p; Fri 11a – 4p.

Based in the Washington, DC area, our team works remotely in various locations in and around the city.

bookkeeping

YOU RUN YOUR BUSINESS...WE'LL RUN THE NUMBERS

You have enough to do running your business. Let our seasoned team handle all your complex bookkeeping work including daily transaction classification and expense tracking, payroll, bill payment and invoicing, business tax planning and preparation, and reporting. We’ll make sure you always have a clear picture of your financial position. 

Assurance—Trust that your back-office accounting work is processed accurately and in a timely manner. Time savings—Take back all of those hours spent in the back office processing bookkeeping work…and put them toward advancing your business. Cost savings—Billed at a fixed monthly fee, you can eliminate billing surprises caused by creeping hourly fees.

advisory

Ditch time-consuming tasks, and get back to what you love

Planning for College—We can help parents with college-bound children set up a financial plan to help with college costs. Tax Planning and Preparation Services—Mitigating your tax burden is always a core goal. This is best achieved through comprehensive tax planning. 

Whether you’re a sole proprietor or operate a multi-tiered corporation or partnership, we pledge to provide you with quality, up-to-date tax return preparation, and advice. Our experienced tax specialists excel at tax planning and preparation for individuals and businesses.

tax

TAX SUPPORT TAILORED TO YOUR NEEDS

Tax season doesn’t have to be stressful when you work with our team. Our filing process offers a seamless digital experience—from gathering your tax documents to filing your return electronically. Personalized—Because every client is different, we examine appropriate deductions and consider your unique situation to help minimize your tax burden. 

Convenient— From initial collection of tax documents to filing, we provide a seamless digital experience. Year-round support—We are available throughout the year to help you make smart tax decisions and put a sound, strategic tax plan in place.

BUSINESS FORMATION SERVICES

DEDICATED TO HELPING NEW BUSINESS OWNERS LAUNCH WITH CONFIDENCE AND CLARITY

No business owner should have to go it alone. Let us help you build a strong foundation by educating and advising you on several key areas of business start-up, including: Entity type analysis—We’ll help you navigate which entity structure is right for your business as well as handle state and federal form preparation. 

Accounting system setup—Our team will ensure that your accounting system is optimized to support a streamlined, efficient workflow.