Discover a comprehensive range of attestation services tailored to meet your specific needs.
Welcome to Watter CPA, your trusted partner in accounting and advisory services. Located in Rockville, Maryland, we take pride in offering personalized service to our clients nationwide including a substantial number of New York and expat clients. We are dedicated to providing a comprehensive range of accounting, tax, and consulting services designed to meet the needs of individuals, small businesses, families, and non-profit organizations.
At Watter CPA, we understand that tax preparation and planning can be overwhelming. Our goal is to simplify the process and ensure that you maximize your tax benefits while staying compliant with all regulations. Our tax services include:
At Watter CPA, our individual tax preparation services are designed to simplify your tax season and ensure you maximize your tax benefits. We offer specialized assistance in equity planning, helping you manage and strategize your equity compensation to minimize tax liabilities. Our capital gains planning service provides expert guidance on managing your investments to achieve optimal tax outcomes. Additionally, we offer inheritance planning, assisting you in handling inheritances in a way that maximizes benefits and minimizes tax implications. Trust us to navigate the complexities of your personal finances and deliver precise, compliant tax preparation.
We support businesses with comprehensive tax preparation services tailored to meet their unique needs. Our business tax consulting service offers expert advice to optimize your tax position. We provide business structure planning, guiding you on the most tax-efficient structures such as S-Corps, MMLLCs, and SMLLCs. Our tax minimization planning helps you implement strategies to reduce your business tax liabilities. Whether you're a sole proprietor, partnership, LLC, or corporation, our team ensures you navigate the complexities of business taxes with ease and compliance.
Navigating the varied and complex state tax laws can be challenging. At Watter CPA, we help you stay compliant with state tax regulations across all jurisdictions. Our state tax compliance service includes preparing and filing state returns, managing state-specific tax issues and ensuring you meet all regulatory requirements. We are dedicated to helping you understand and navigate state tax laws to avoid penalties and optimize your tax position.
Non-profit organizations face unique tax challenges and requirements. At Watter CPA, we offer specialized tax services to help non-profits navigate these complexities. Our services include preparing and filing annual tax returns, ensuring compliance with federal and state regulations, and advising on tax-exempt status maintenance. We help you understand and manage the intricacies of non-profit tax laws, allowing you to focus on achieving your mission while remaining compliant.
Our CPA services are designed to support your financial well-being and business success. We offer a range of services to keep your financial operations running smoothly and efficiently.
Our audit services provide thorough and objective assessments of your financial statements, ensuring compliance with regulatory requirements. We offer valuable insights into your business operations and financial health, helping you identify areas for improvement and ensuring transparency and accuracy in your financial reporting.
Accurate bookkeeping is the foundation of a successful business. Watter CPA offers comprehensive bookkeeping services to help you maintain precise financial records. Our services include tracking income and expenses, ensuring compliance with accounting standards, and preparing for tax season, allowing you to focus on running your business.
Non-profit organizations have unique accounting needs, and our specialized bookkeeping services are designed to meet those needs. We help you maintain accurate and transparent financial records, ensuring compliance with regulatory requirements and providing the financial clarity needed to achieve your mission.
Managing payroll can be complex and time-consuming. Our reliable payroll services handle all aspects of payroll processing, from wage calculations and tax withholdings to reporting. We ensure your employees are paid accurately and on time, allowing you to focus on other aspects of your business.
Understanding your financial position is crucial for making informed business decisions. Our financial reporting services provide detailed and accurate financial statements, including balance sheets, income statements, and cash flow statements. We help you analyze these reports to gain insights into your business performance and plan for future growth.
Our consulting services are tailored to help you achieve your business and financial goals. We provide expert advice and strategic planning to drive growth and success.
Our tax advisory services are designed to help you navigate the complexities of tax planning and compliance. We offer strategic tax planning and strategy services, helping you develop and implement plans to optimize your tax position. Additionally, our tax compliance services ensure you meet all regulatory requirements, minimizing the risk of audits and penalties.
Watter CPA’s accounting advisory services provide the support you need to maintain accurate and effective financial operations. We offer financial statement preparation services, ensuring your financial reports are precise and compliant with accounting standards. Our accounting system setup and support services help you establish and maintain robust accounting systems, providing the foundation for accurate financial management and reporting.
At Watter CPA, we pride ourselves on our commitment to providing personalized, community-focused service. We understand the unique needs of our clients and are dedicated to building long-lasting relationships based on trust and mutual respect. Our team is always available to answer your questions, provide guidance, and ensure you feel confident and supported in your financial decisions.
Thank you for considering Watter CPA as your trusted partner in accounting and advisory services. We look forward to serving you and helping you achieve your financial goals with confidence and clarity. Contact us today to learn more about how we can assist you.
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.