VA Tax & Accounting Services
Kurt Simmons CPA provides comprehensive tax and financial services to individuals and businesses throughout Virginia (VA). With its federal contracting hub and growing tech corridor, we understand the unique financial landscape that comes with doing business in Virginia.
Under the CPA Mobility Act, our CPA — licensed in Maryland, Delaware, and Florida — is authorized to provide the full range of attestation, tax, and advisory services to Virginia clients without the need for an additional state license. This means Virginia individuals and businesses receive the same comprehensive service as our home-state clients: financial statement audits, tax strategy, IRS representation, virtual CFO services, and every other service we offer — delivered through our technology-forward, virtual-first practice model.
CPA Services Available in Virginia (VA)
VA Individual Tax Preparation
Comprehensive federal and Virginia state tax return preparation, including complex returns with investments, rental properties, and self-employment income.
Learn More →VA Business Tax Services
Tax preparation and planning for Virginia-based businesses including S-Corps, C-Corps, partnerships, LLCs, and sole proprietorships.
Learn More →VA Cryptocurrency Tax
Specialized crypto tax services for Virginia investors and traders. DeFi, NFTs, staking rewards, and exchange reporting handled with expertise.
Learn More →VA Trader Tax Services
Mark-to-market elections, wash sale tracking, and tax optimization strategies for active traders in Virginia.
Learn More →VA IRS Resolution
Professional representation before the IRS for Virginia taxpayers facing audits, collections, liens, levies, or offers in compromise.
Learn More →VA 83(b) Elections
Equity compensation planning and 83(b) election filing for Virginia startup employees and founders receiving restricted stock.
Learn More →VA Financial Statement Audits
Full-scope GAAS-compliant financial statement audits for businesses, nonprofits, and organizations requiring independent assurance.
Learn More →VA Review Engagements
Limited assurance engagements providing meaningful confidence in financial statements for lender requirements and stakeholder reporting.
Learn More →VA Compilations
Professionally prepared financial statements from management-provided data for internal reporting, small business needs, and bank presentations.
Learn More →VA Agreed-Upon Procedures
Targeted, customized engagements designed to address specific areas of concern with flexible scope tailored to stakeholder needs.
Learn More →VA Employee Benefit Plan Audits
DOL-compliant audits for 401(k), pension, and employee benefit plans meeting ERISA filing requirements and fiduciary obligations.
Learn More →VA Tax Strategy & Advisory
Proactive, year-round tax planning that identifies savings opportunities. Entity structure optimization, multi-state planning, and strategic initiatives.
Learn More →VA Cost Segregation Studies
Engineering-based analysis to accelerate depreciation deductions on commercial and residential rental properties, maximizing cash flow.
Learn More →VA Virtual CFO Services
Fractional CFO capabilities including financial modeling, cash flow management, KPI dashboards, and strategic financial leadership.
Learn More →VA Business Consulting
Operational assessments, process improvement, internal control design, and strategic planning to drive efficiency and profitability.
Learn More →VA Estate & Succession Planning
Comprehensive estate planning, business succession strategies, and wealth transfer optimization for business owners and high-net-worth individuals.
Learn More →VA Capital Markets Advisory
Securities compliance, FINRA regulatory guidance, and capital markets advisory for businesses navigating public offerings, private placements, and broker-dealer requirements.
Learn More →Virginia Audit Services in Detail
Virginia businesses, nonprofits, federal contractors, and benefit plan sponsors typically need an independent audit when state law, federal rules, lenders, grantmakers, contracting officers, or boards require external assurance. We perform GAAS-compliant attest engagements scoped to the specific assurance need — most commonly:
Virginia Federal Contractor Audits & Indirect Rate Reviews
Northern Virginia is home to one of the largest federal contractor concentrations in the country. We support contractors with GAAS-compliant audits suitable for federal contracting purposes, indirect rate calculations and DCAA-compliant accounting systems (compliant with the SF 1408 pre-award accounting system survey), Cost Accounting Standards (CAS) compliance, and audits prepared to support security-cleared business operations. We work alongside DCAA, DCMA, and contracting officers as needed.
Virginia Nonprofit Audits
Under Virginia Code § 57-49 (Solicitation of Contributions Act), charities registered with the VA Department of Agriculture and Consumer Services are generally required to submit audited financial statements when annual gross revenue exceeds $1,000,000, and reviewed financial statements when revenue is between $250,000 and $1,000,000. Audited statements are also routinely expected by the Community Foundation for Northern Virginia, the Greater Washington Community Foundation, the Virginia Health Care Foundation, and major Virginia funders.
Virginia 401(k) & Employee Benefit Plan Audits
Virginia plan sponsors filing Form 5500 generally require an ERISA-compliant audit when the plan has 100 or more participants with account balances at the start of the plan year — the participant-counting rule effective post-SECURE 2.0. We perform full-scope and §103(a)(3)(C) limited-scope benefit plan audits for 401(k), 403(b), and defined-benefit plans across Virginia, including plans sponsored by Northern Virginia federal contractors (Booz Allen, CACI, Leidos, SAIC, Northrop Grumman, GD), data center operators (Equinix, Digital Realty, AWS), shipbuilding (HII Newport News), and Virginia Beach-area maritime and tourism employers.
Virginia Single Audits (Uniform Guidance)
Virginia nonprofits, municipalities, school divisions, and pass-through subrecipients that expend $1,000,000 or more in federal awards in a fiscal year (the OMB threshold for fiscal years beginning on or after October 1, 2024) are subject to the Single Audit requirements of 2 CFR Part 200. Given Virginia's heavy federal contracting and federal funding, Single Audit work is common. We perform Uniform Guidance Single Audits, including major-program testing, internal control work, and preparation of the SEFA.
Virginia Reviews & Compilations
Where a full audit is not required, we deliver review engagements (limited assurance) and compilations (no assurance) — both routinely accepted by Virginia lenders, by acquirers in VA M&A diligence, and by stakeholders requiring CPA-prepared financial statements.
Virginia (VA) Tax & Business Landscape
Key Virginia Tax Numbers. Personal income tax: graduated, top rate 5.75% on income above $17,000. Corporate income tax: 6% flat. Sales and use tax: 5.3% state, with local add-ons typically bringing the total to 6%–7% (Northern Virginia and Hampton Roads regions add additional regional sales tax). Estate tax: none. Pass-through entity (PTE) elective tax: rates tracking the personal IT brackets (top 5.75%), available since tax year 2021.
Filing Mechanics. Individuals file Form 760 (residents), 760PY (part-year residents), or Form 763 (nonresidents) by May 1 — NOT April 15 (a commonly missed deadline). C-corporations file Form 500. Partnerships and S-corporations file Form 502; the PTE election is made on Form 502PTET. Returns are administered by the Virginia Department of Taxation.
Reciprocity & Multi-State Considerations. Virginia has wage reciprocity agreements with the District of Columbia, Kentucky, Maryland, Pennsylvania, and West Virginia — meaning a Virginia resident earning wages in those jurisdictions pays Virginia tax (not the other state's tax) provided proper withholding paperwork is filed with the employer. Reciprocity does not extend to non-wage income (rental, business, capital gains) sourced to those states. We routinely prepare VA/DC, VA/MD, and VA/PA combinations for federal contractors and commuters.
Federal Contractor & Government Employee Specialty. Northern Virginia is home to one of the largest federal contractor and government employee concentrations in the country. We handle the specialized issues these clients face — Cost Accounting Standards (CAS) compliance, DCAA-compliant accounting systems and indirect rate audits, FAR Part 31 cost principles, security clearance financial review (SF-86), TSP rollover and deferred compensation planning, federal employee benefits (FERS, FECA, FSAFEDS), and multi-state tax for contractors deployed across state lines.
Virginia Economy & Who We Serve. Virginia's economy is anchored by federal government contracting and defense (Northern Virginia — Pentagon, CIA, NSA, FBI, hundreds of contractors including Booz Allen, CACI, SAIC, Leidos), data centers (Northern Virginia hosts approximately 70% of the world's internet traffic — the world's largest data center market), shipbuilding (Newport News HII — the only U.S. builder of nuclear aircraft carriers), military bases (Norfolk Naval, Quantico, Fort Belvoir, Pentagon), agriculture, technology (Reston, Tysons, Charlottesville), wine and tourism (Charlottesville, Loudoun County), and the Port of Virginia. Our typical VA clients include federal contractors and consultants, defense and intelligence professionals, data center operators, federal employees, military members, and high-net-worth families in Northern Virginia.
CPA Mobility in Virginia. Virginia has adopted CPA mobility provisions under the Uniform Accountancy Act, allowing CPAs in active good standing in another U.S. jurisdiction to provide tax, advisory, and (subject to applicable firm-level requirements) attest services to Virginia clients without obtaining a separate Virginia individual license. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm all applicable Virginia Board of Accountancy mobility and firm registration requirements before commencing any engagement.
Cities and Communities We Serve. Our virtual-first practice serves clients across all of Virginia, including Arlington (Pentagon, federal contractors), Alexandria (Old Town, federal workforce), Tysons and Reston (data centers, technology), Fairfax County, Loudoun County (data center alley), Richmond (state capital), Virginia Beach, Norfolk (Naval Station Norfolk, port), Chesapeake, Newport News (shipbuilding), Hampton, Roanoke, Charlottesville (UVA), Lynchburg, the Shenandoah Valley, the Northern Neck, the Eastern Shore, and every Virginia city and county.
Why Virginia Clients Choose Us
- GAAS-compliant audit, review, and compilation experience for nonprofits, federal contractors, benefit plans, and privately held businesses
- Deep expertise in VA-specific issues: federal contractor accounting (CAS, DCAA, FAR Part 31, indirect rates), Virginia PTE elections, the May 1 personal income tax deadline, VA/DC/MD/PA reciprocity for commuters, and federal employee/military tax issues
- Capital markets background — Kurt Simmons has passed the Series 65 examination (Passed; not currently held as an active license) in addition to holding the CPA
- Specialized practices in cryptocurrency taxation, active trader tax, and 83(b) elections for VA tech/data center employees
- Technology-forward, virtual-first delivery — secure client portal, e-signature, and video consultations
- Transparent, fixed-fee engagements where possible — no surprise hourly invoices
Virginia CPA — Frequently Asked Questions
Do I need a Virginia-licensed CPA, or can an out-of-state CPA handle my VA tax and audit work?
Virginia has adopted CPA mobility provisions under the Uniform Accountancy Act. A CPA in active good standing in another U.S. jurisdiction is generally authorized to provide tax, advisory, and attest services to Virginia clients without holding a separate Virginia individual license. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm any applicable firm-level Virginia Board of Accountancy registration before commencing attest engagements.
What is Virginia's income tax rate, and when is the VA return due?
Virginia has a graduated personal income tax with a top rate of 5.75% on income above $17,000. Importantly, the Virginia individual income tax return (Form 760) is due May 1 — NOT April 15. This is one of the most commonly missed filing deadlines for new Virginia residents. Corporate returns (Form 500) follow a different deadline tied to the federal corporate due date.
Does Virginia have a SALT-cap workaround for partnerships and S-corps?
Yes. Virginia enacted an elective Pass-Through Entity Tax (PTE) effective for tax years beginning on or after January 1, 2021. Eligible S-corps and partnerships pay an entity-level tax tracking the personal income tax brackets (top rate 5.75%), and members receive a corresponding refundable credit on Form 760. The election is made on Form 502PTET.
I work as a federal contractor in Northern Virginia. What special tax issues apply?
Federal contractors and government employees in Virginia face several specialized issues we handle routinely: cost-accounting standards (CAS) compliance for cost-reimbursable contracts, indirect rate audits (overhead and G&A), DCAA-compliant accounting systems, FAR Part 31 cost principles, deferred compensation and TSP rollover planning, security clearance financial review (SF-86), and multi-state tax issues for contractors deployed to other states. We also handle federal employee unique items like FECA, FERS, the FSAFEDS programs, and DC/MD/PA reciprocity.
Virginia has reciprocity with which states?
Virginia has wage reciprocity agreements with the District of Columbia, Kentucky, Maryland, Pennsylvania, and West Virginia. Virginia residents earning wages in those jurisdictions pay VA tax (not the other state's tax) provided proper withholding paperwork is filed with the employer. Reciprocity does not extend to non-wage income (rental, business, capital gains) sourced to those states. We routinely handle VA/DC, VA/MD, and VA/PA combinations.
When does my Virginia nonprofit need an audit?
Under Virginia Code § 57-49 (Solicitation of Contributions Act), charities registered with the VA Department of Agriculture and Consumer Services are generally required to submit audited financial statements when annual gross revenue exceeds $1,000,000, and reviewed financial statements when revenue is between $250,000 and $1,000,000. Federal Single Audit requirements under 2 CFR Part 200 apply separately when federal award expenditures exceed $1,000,000 in a fiscal year.
Do you serve Virginia clients outside Northern Virginia?
Yes. Our practice is virtual-first, so we serve clients across all of Virginia — including Richmond, Virginia Beach, Norfolk, Chesapeake, Newport News, Hampton, Roanoke, Charlottesville, Lynchburg, Hampton Roads, the Shenandoah Valley, the Eastern Shore, and every Virginia city and county — with the same level of access and service.