Kenneth J. Watter, CPA, P.A. is an accounting and advisory firm founded in 1988.
Kenneth J. Watter, CPA, P.A. is a distinguished accounting and advisory firm headquartered in Rockville, Maryland, proudly serving clients across various industries since 1988. Founded by the esteemed Ken Watter, our firm has built a stellar reputation for delivering senior-level tax, bookkeeping, and consulting services, meticulously tailored to meet each client's unique needs.
Though Ken Watter passed away on December 4, 2023, his legacy of excellence and client-focused service continues to thrive. Ken's commitment to providing exceptional service and his dedication to the community of Montgomery County have left an indelible mark on our firm.
In honor of Ken's vision, the firm is now led by George Dimov, CPA, and Alice Welch, CPA. Both George and Alice are deeply committed to upholding the high standards and principles that Ken established, ensuring that our clients continue to receive the exceptional service they have come to expect.
George Dimov joined our firm with a wealth of experience and a forward-thinking approach to accounting and advisory services. His leadership style perfectly complements Alice's, providing a dynamic and comprehensive service offering to our clients. George's innovative thinking and dedication to excellence play a crucial role in maintaining and enhancing our firm's reputation.
Alice Welch joined the firm in 2012 as a Tax Manager, bringing technical expertise, business acumen, and a passion for service. Recognizing her potential to guide the firm into the future, Ken steadily expanded Alice’s role, culminating in her promotion to Partner in 2020. Today, Alice oversees the firm’s tax compliance and advisory segments, leads key client initiatives, directs staff development, and shapes the firm’s strategic direction alongside George.
At Watter CPA, we approach every engagement as an accountable, transparent partnership focused on our client's growth and success. We take the time to deeply understand our client's operations and objectives, allowing us to provide informed recommendations that drive measurable impact.
Alice embodies this spirit through her hands-on, dedicated approach to client relationships. Her ability to translate complex financial concepts into understandable, actionable advice provides the clarity businesses need to make smart decisions.
We offer a wide range of services to meet the diverse needs of our clients. Our tax services include individual tax preparation, business tax preparation, state tax compliance and non-profit tax services. In terms of CPA services, we provide audit services, bookkeeping services, non-profit bookkeeping services, payroll services and financial reporting. Additionally, our advisory services cover tax advisory services and accounting advisory services.
We invite you to join us on our journey as we continue to uphold the principles of excellence and client-focused service established by Ken Watter. Under the dedicated leadership of George Dimov and Alice Welch, Watter CP remains committed to helping our clients achieve their financial goals with confidence and clarity.
Thank you for considering us as your trusted partner in accounting and advisory services. We look forward to serving you.
Our dedicated team is ready to assist you on your path to financial success.
5 N Adams St,
Rockville, MD 20850, United States
At Watter CPA, we believe that understanding your needs is the first step toward providing exceptional service. Determining the specific service required involves a thorough review of your financial situation, which is only possible with proper documentation and accurate data. This approach helps us deliver tailored solutions that best meet your needs and compliance requirements.
Below, you will find answers to some of the most frequently asked general questions. If you have more specific inquiries or require additional information, please feel free to Contact Us.
We offer a wide range of tax planning services, including individual and business tax planning, estate and trust planning and retirement planning. Our goal is to help you minimize your tax liability and ensure compliance with all relevant tax laws.
The frequency of meetings with your CPA depends on your specific needs and circumstances. For some clients, quarterly or annual meetings may be sufficient, while others may benefit from more frequent consultations, especially during major financial or business changes.
Yes, we provide comprehensive support for resolving IRS issues and tax problems. Our services include audit representation, negotiating payment plans, handling tax liens and levies and assisting with offers in compromise. We aim to help you navigate and resolve your tax issues efficiently.
Starting a new business with our help involves several key steps:
1. Initial consultation to understand your business idea and goals.
2. Assistance with business entity selection (e.g., LLC, corporation).
3. Guidance on registration and compliance with local, state and federal regulations.
4. Setting up accounting systems and procedures.
5. Ongoing support with bookkeeping, tax planning and financial reporting.
Yes, we offer virtual consultations to accommodate clients who prefer remote meetings. This allows us to provide our services regardless of your location, making it convenient and flexible for you to receive the support you need.
We take the confidentiality and security of your financial information very seriously. Our firm employs robust security measures, including secure data storage, encrypted communications and strict access controls. We are committed to maintaining your privacy and protecting your sensitive information.
If you receive a tax notice from the IRS, it is important to contact us immediately. We will review the notice, explain its implications, and help you respond appropriately. Our team will work with you to resolve any issues and ensure compliance with IRS requirements.
Getting started with Watter CPA is easy. Simply contact us to schedule an initial consultation. During this meeting, we will discuss your needs, explain our services and determine how we can best support you. From there, we will develop a customized plan to address your financial and accounting requirements.
Yes, we e-file most tax returns. If a paper filing is required, we prepare it for certified mailing and ensure its delivery to the appropriate taxing authority.
Yes, we routinely prepare tax returns for all U.S. states and territories as well as necessary city or locality returns.
Yes, our tax professionals can evaluate your holdings and determine the most efficient and cost-effective way to report your assets.
Yes, we file extensions for our clients. Note that filing an extension grants additional time for filing the tax return but does not extend the due date for any taxes owed.
Common documents needed include:
- W-2 (wages)
- 1099-NEC (independent contractor income)
- 1099-MISC (rents)
- 1099-INT (interest)
- 1099-R (retirement)
- 1099-SSA (social security)
- 1099-DIV (dividends)
- K-1 (from partnership, S-corp, or trust)
- 1095-A, 1095-B, 1095-C (health insurance)
- Property Taxes
- Closing Disclosure (real estate transactions)
- Income and Expenses records for Schedule C business or Schedule E rental property
- Cryptocurrency transactions
This depends on your personal situation. We calculate the tax outcomes for both options to determine the most advantageous filing status for you.
In certain situations, yes. Contact us so we can learn more about your situation and advise you on the best filing option.
This depends on the type and method by which you received the inheritance. Contact us to learn more about inheritance reporting and filing requirements.
Yes, we can prepare state and federal Power of Attorney forms to access transcripts and determine which returns have been filed.
We can help you remedy the situation to properly claim your child/children on your return when we prepare and file your return.
For more detailed information or specific queries, feel free to Contact Us. Our team is here to provide the clarity and support you need to navigate your financial and tax-related questions effectively.