At Watter CPA, we pride ourselves on providing personalized, expert advisory services to our valued clients. Based in the heart of Maryland, our small, family-oriented firm has built a strong reputation for excellence in tax and accounting services, not just locally, but nationwide. We serve clients from Maryland and the DC area to New York and across all 50 states, ensuring every client receives the focused and customized attention they deserve. Our goal is to make your financial journey smooth, efficient and beneficial.
Effective tax planning is crucial for financial success. At Watter CPA, we offer comprehensive tax planning services tailored to meet the unique needs of each client. Our team of seasoned professionals works diligently to stay abreast of the latest tax laws and regulations, ensuring that our clients are always in the best possible position.
We understand that each client's situation is unique. Our tax planning services are customized to address your specific needs and goals. Whether you are an individual looking to minimize your tax liability or a business owner seeking to maximize profits, our tailored strategies will help you achieve your financial objectives.
Our proactive approach to tax planning involves regular reviews and updates to your tax strategy, ensuring that you are always prepared for any changes in the tax landscape. By anticipating potential issues and opportunities, we help you stay ahead of the curve and make informed decisions.
Tax planning is not a once-a-year activity; it requires ongoing attention and adjustments. Our team is available year-round to provide guidance and support, helping you navigate the complexities of tax planning and stay on track with your financial goals.
Navigating the ever-changing tax landscape can be challenging. At Watter CPA, we offer comprehensive tax compliance services to ensure that you meet all your tax obligations accurately and on time.
We understand the importance of timely and accurate tax filings. Our team works diligently to prepare and file your tax returns, ensuring that all necessary forms and documentation are completed correctly and submitted on time.
In the event of an audit, our experienced professionals are here to provide support and representation. We will guide you through the audit process, ensuring that your interests are protected and that you achieve the best possible outcome.
Tax laws and regulations are constantly evolving. We continuously monitor changes in the tax landscape to ensure that you remain compliant with all applicable rules and regulations. Our team provides regular updates and guidance, helping you stay informed and prepared.
Accurate and timely financial statements are crucial for managing your business effectively. At Watter CPA, we offer comprehensive financial statement preparation services, ensuring you have the accurate information you need for compliance and decision-making. We advise our clients on the best practices for preparing and presenting their financial statements to ensure clarity and accuracy.
We understand that each business has unique needs. Our financial statement preparation services are tailored to provide you with the specific information you need. Whether you need monthly, quarterly or annual financial statements, we deliver accurate and detailed reports that meet your requirements. We advise on how to customize financial reports to meet your specific business needs.
Our team of experienced professionals ensures your financial statements are prepared in accordance with all relevant accounting standards and regulations. We take pride in our attention to detail and commitment to accuracy, providing you with reliable financial information you can trust and we advise on the necessary compliance measures and accuracy standards for your financial statements.
A robust accounting system is the foundation of effective tax and accounting management. At Watter CPA, we offer comprehensive accounting system setup and support services to help you establish and maintain an efficient and effective accounting system. We simply advise on the selection and implementation of accounting systems that best meet your business needs.
We understand that each business has unique needs and requirements. Our team works closely with you to design and implement an accounting system that meets your specific needs. From selecting the right software to setting up accounts and processes, we ensure your system is tailored to your business. We advise on the customization and integration of your accounting system to fit your business processes.
Our support doesn't end with the setup. We provide ongoing training and support to ensure you and your team are comfortable and proficient with your new accounting system. Our team is available to answer questions, provide guidance, and offer solutions to any issues that may arise. We advise on best practices for using and maintaining your accounting system.
An accounting system requires regular maintenance and optimization to ensure it continues to meet your needs. We offer ongoing support to keep your system running smoothly and efficiently. Our team provides regular reviews and updates, helping you stay ahead of any potential issues and ensure your system remains effective. We advise on the necessary maintenance routines and optimization strategies for your accounting system.
At Watter CPA, we are committed to providing expert tax and accounting advisory services to help you manage your obligations and optimize your benefits. Whether you need assistance with tax planning and compliance or financial statement preparation and accounting system setup, our team of experienced professionals is here to help. Contact us today to learn more about how our advisory services can benefit 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.