Berg Faircloth & Company

Built on a solid foundation of excellent client service and in-depth market knowledge, Berg Faircloth strives to develop a relationship with each client to foster a greater understanding of your needs and objectives while maintaining the ethical standards

Berg Faircloth is built on a solid foundation of excellent client service and in-depth market knowledge. We strive to develop a working relationship with each client to foster a greater understanding of your needs and objectives while maintaining the ethical standards of our profession. We provide tax and accounting services for individual and business clients.

usatoday.com

Not everyone is getting a $1,200 coronavirus stimulus check. Here's who will be left out.

While most individuals will get a stimulus, you might be surprised if you find yourself without one. Here's why you may not receive a stimulus check: https://bit.ly/2XA56IL

usatoday.com Millions of Americans will be left out when the Internal Revenue Service starts distributing $1,200 coronavirus stimulus checks next week.

forbes.com

Your Money And Coronavirus: A Financial Protection Guide

Many Americans have faced sudden and severe financial challenges. During these trying times, there are relief efforts that may help: https://www.forbes.com/sites/advisor/2020/03/22/your-money-and-coronavirus-a-financial-protection-guide/#2881dd2f306a

forbes.com The latest advice on stimulus, sick leave and unemployment payments; tax, student loan and mortgage relief; and smart ways to spend now, help others and protect your retirement.

financialhotspot.com

Benefits of Virtual Bookkeeping Services | www.financialhotspot.com

As technology continues to advance, remote or virtual bookkeeping services can help alleviate the financial and accounting stresses that come with running a business. https://financialhotspot.com/2020/02/13/benefits-of-virtual-bookkeeping-services/

financialhotspot.com Advancing technology is rapidly opening up alternative ways of doing business, and virtual accounting is a great way to save time and money for all your financial needs.

forbes.com

Facebook Announces $100 Million Grant Program For Small Businesses Being Impacted By Coronavirus

Facebook is doing their part, $100 Million grant program to help small businesses during this crisis. https://bit.ly/2wghmD9

forbes.com Facebook announces a $100 million grant to help small businesses being impacted by Covid-19.

forbes.com

How To Strengthen An Organization In Times Of Crisis

For leaders, a crisis is an opportunity to rise to the occasion and handle challenges; here are some ideas worth considering. https://bit.ly/2QwEGTQ

forbes.com The pessimist sees difficulty in every opportunity while the optimist sees opportunity in every difficulty. This article was written for optimists and contains the reminder that, in times of turmoil, you need to rely on both your IQ and EQ.

forbes.com

How Do We Help Small Business During COVID-19 Crisis?

During this crisis, how can you help small businesses? https://bit.ly/2wqYG3l

forbes.com What are the possible, and likely, actions that government can and should take?

investopedia.com

Renters: How to Get COVID-19 Rent Relief

Programs for homeowners that prevent foreclosure, eviction, and provide mortgage payment relief are available. But what if you rent? Support is ramping up for rents too - Here's what's available, how it works, and how to get help. https://bit.ly/2Vqkwws

investopedia.com Rent relief for those impacted by COVID-19 is available, provided you know where to look. Find out about federal, state, and local rent help here.

jdsupra.com

UPDATED: Summary COVID-19: Paycheck Protection Program (PPP) | JD Supra

The U.S. Small Business Administration (SBA) is authorized to guarantee up to $349 billion in loans to eligible borrowers through the Paycheck Protection Program (PPP). Learn more here: https://bit.ly/2Rlp59Y

jdsupra.com The U.S. Small Business Administration (SBA) is authorized to guarantee up to $349 billion in loans to eligible borrowers through the Paycheck...

forbes.com

Everything You Need To Know About Your $1,200 Stimulus Check

As part of the CARES Act - the $2.2 trillion stimulus package - the federal government is sending stimulus checks (also known as Economic Impact Payments) to millions of Americans. https://www.forbes.com/sites/zackfriedman/2020/04/13/stimulus-check-everything-need-know/#41862a7c254f

forbes.com It's all here.

forbes.com

Answers To Your Questions About Student Loans And Coronavirus

Even if you’ve followed all the latest headlines about your student loans and Coronavirus, you may still have questions. Here are the most common questions along with answers and what to do next. https://www.forbes.com/sites/zackfriedman/2020/04/06/student-loans-coronavirus-answers/#328b3ac12412

forbes.com Finally, some answers.

investopedia.com

Apply for Your Small Business Economic Injury Disaster Loan (EIDL) and Loan Advance

By now most small business owners know that the CARES Act, through the Small Business Administration (SBA), offers financial relief through two targeted loan packages—the new Paycheck Protection Program (PPP) and the existing Economic Injury Disaster Loans (EIDL) program. Here's what you need to know abou the EIDL program: https://bit.ly/3dYybDo

investopedia.com The process to secure a CARES Act EIDL Loan and up to $10,000 advance can be tricky. Here's how to get your money and keep your small business running.

forbes.com

7 Ways To Make Your Online Virtual Conference Successful

Conducting business from home? Here are some great tips for those virtual conferences. https://bit.ly/2WygwMC

forbes.com The keys to a successful online, virtual conference event are a bit different than those for a traditional live, in-person event. Here's how event organizers can bring even a remote audience to their feet.

financialhotspot.com

How to Get a Mortgage When You Are Self Employed | www.financialhotspot.com

Many people are intimidated by the idea of getting a mortgage while self-employed, and some may tell you it is difficult. There are ways to improve your rates and probability of approval when getting a mortgage while self-employed. https://bit.ly/3bd0N9N

financialhotspot.com Many people are intimidated by the idea of getting a mortgage while self-employed, here are some suggestions for increasing your chances of getting that loan.

sba.gov

Coronavirus Relief Options

On Friday, March 27, 2020, the President signed into law the CARES Act, which contains $376 billion in relief for American workers and small businesses. Learn more here: https://bit.ly/2X8SdoL

sba.gov We’re here to help you overcome the challenges created by this health crisis. We offer multiple funding options for those seeking relief. Read more below.

irs.gov

Economic impact payments: What you need to know | Internal Revenue Service

Economic impact payments: What you need to know: https://bit.ly/3bDrlRO

irs.gov IR-2020-61, March 30, 2020 — The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people. Updated with new information for se...

Are you taking the standard deduction this tax year? Take note of the new deductions for each filing status:
Single / Married Filing Separately - $12,400
Married Filing Jointly - $24,800
Head of Household - $18,650

It is important to file your taxes on time to steer clear of late penalties. If you're not familiar with the process you'll want to let a professional like us handle it.

financialhotspot.com

5 Tax Strategies for Small Business Owners | www.financialhotspot.com

As a small business owner, you want to ensure you pay as little as possible come tax filing season. Here are a handful of strategy tips that could help you to minimize your tax liability so you can improve your bottom line. https://bit.ly/3daNQPA

financialhotspot.com As a business owner it's important to reduce your tax liability wherever and whenever you can. Here are some tips to help improve your compnay's bottom line.

When you break larger bills, put the fives aside for savings. You'll be surprised at how fast it adds up!

taxpayeradvocate.irs.gov

TAS Tax Tip: Before you file that federal tax return: Stop and follow these tips to help avoid unnecessary delays

Tax Tip: Before you file your Federal Tax return follow these tips to avoid delays. https://taxpayeradvocate.irs.gov/news/tas-tax-tip-avoid-unnecessary-delays

taxpayeradvocate.irs.gov The Taxpayer Advocate Service wants to help you avoid delays this filing season, including refund delays.

Stay in the sweet spot - you should keep your credit utilization below 30%. If you find yourself surpassing that amount, try making an extra payment mid-cycle to reduce your balance.

cnbc.com

Here's when your tax return could spark interest from the IRS

The odds of an audit may be low, but there are certain things that jump out to the IRS. Here are some common things that could cause the IRS to look more closely at your 2019 tax return. https://cnb.cx/36qvnKs

cnbc.com Some aspects of tax returns generate more scrutiny than others, and IRS computers are adept at weeding those out.

allbusiness.com

First Time Working Remotely? Here’s How to Ease Into It | AllBusiness.com

Ready to ease into working from home? Here’s what you need to do to transition into becoming a telecommuter: https://bit.ly/2Jetl6X

allbusiness.com Remote work may become the new normal in the coming months as a precaution against the coronavirus. Here's what employees new to working from home need to know.

taxfoundation.org

Tracking State Legislative Responses to COVID-19

In response to the Federal tax extension, individual states have been working to finalize their policies in response to the COVID-19 outbreak. You can track these changes in real-time at this link: https://taxfoundation.org/state-tax-coronavirus-covid19/

taxfoundation.org Many states are racing to pass budgets, emergency COVID-19 supplemental appropriations, and other must-pass legislation as quickly as possible so they can adjourn earlier than anticipated and avoid unnecessary risk of exposure.

forbes.com

The Impact Of Coronavirus: Advice For Funded Small Businesses And Those Seeking Funding

While the coronavirus is probably not going to lead the USA or the world into a recession, but it certainly will cause a significant disruption. https://bit.ly/2QAtHZw

forbes.com Leading venture capital advice good for startups and small businesses due to Coronavirus.

irs.gov

Tax Scams / Consumer Alerts | Internal Revenue Service

The IRS doesn't initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information. Recognize the telltale signs of a scam. http://bit.ly/2T0qFPQ

irs.gov Don't fall victim to tax scams. Learn how to spot a scam and what to do.

irs.gov

Payment Deadline Extended to July 15, 2020 | Internal Revenue Service

The Treasury Department and the Internal Revenue Service are providing special tax filing and payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for federal tax returns has been extended from April 15 to July 15, 2020. https://bit.ly/2wnMUHg

irs.gov March 21, 2020 - The Treasury Department and the Internal Revenue Service are providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak.

financialhotspot.com

Selecting the Right Entity for Your Business | www.financialhotspot.com

Entrepreneurship is a journey with several phases, and one of the most crucial stages of is determining the structure of the business from the very beginning.http://bit.ly/3ccRs2X

financialhotspot.com Starting a new business can be exciting, but there are many important decisions to be made. Choosing the right entity can help your business secure a prosperous future.

wsj.com

U.S. Postpones April 15 Tax Payments for 90 Days for Most Americans

The U.S. government will postpone the April 15 tax-payment deadline for millions of individuals, giving Americans another 90 days to pay their 2019 income tax bills. https://on.wsj.com/2QrW2Bl

wsj.com The IRS will waive interest and penalties, making the delay available to people who owe $1 million or less and corporations that owe $10 million or less.

taxpayeradvocate.irs.gov

Tax Tips Page

Stay informed - here are some tax tips to help you prepare for tax season. http://bit.ly/2I3A0A5

taxpayeradvocate.irs.gov Get Help Taxpayer Rights News & Info Reports About TAS For Tax Pros Get Help Taxpayer Rights News & Info Reports About TAS For Tax Pros Contact Us Mobile Search

Do your best to avoid opening multiple lines of credit in a short period of time. This is considered risky behavior and can negatively impact your score.

irs.gov

IRS kicks off 2020 tax filing season with returns due April 15; help available on IRS.gov for fastest service | Internal Revenue Service

Don't spend your time sitting on hold - do you know you can get assistance from the IRS here: http://bit.ly/37BIZ6R

irs.gov IR-2020-20, January 27, 2020 ― The Internal Revenue Service successfully opened the 2020 tax filing season today as the agency begins accepting and processing federal tax returns for tax year 2019.

financialhotspot.com

What Are Tax Resolution Services? | www.financialhotspot.com

Millions of Americans struggle each year to pay what they owe the IRS, and many are facing other challenges such as late or incorrect returns. http://bit.ly/2PpoWkU

financialhotspot.com As an individual or a business owner, tax liability can get complicated. Tax resolution experts can guide you through the options and find a solution for you.

forbes.com

How The SECURE Act Will Affect Business Owners And The New 199A Deduction

Are you wondering how The Secure Act will affect you as a business owner?
http://bit.ly/2RzWoXr

forbes.com The new SECURE Act rule changes could cause an unintended tax burden for business owners and result in the loss of the 199A deduction for many people.

foxbusiness.com

How Americans plan to spend their 2020 tax refund

The average refund last tax season was about $2,725. Here's how many Americans plan to spend their refund. https://fxn.ws/2GwM10g

foxbusiness.com The average refund last tax season was about $2,725.

Missing a payment doesn't have to be the end of the world. Be sure to pay off overdue balances as soon as possible. Once paid, they have less impact on your overall score.

Protective work clothing can be considered an itemized tax deduction. Just remember to keep the receipts and a copy of the company dress code policy as a proof.

forbes.com

How I Finally Learned To Stop Bleeding Money In Retirement

Yes, you can spend less in retirement! http://bit.ly/36BC2RQ

forbes.com This retiree and her husband are saving an extra $500 a month

irs.gov

IRS announces tax relief for victims of earthquakes in Puerto Rico | Internal Revenue Service

The IRS provides expanded tax relief for victims of earthquakes that affected Puerto Rico. See: http://bit.ly/313fRCU

irs.gov PR-2020-01, January 17, 2020 — Victims of earthquakes that took place beginning on December 28, 2019 in parts of the Commonwealth of Puerto Rico may qualify for tax relief from the IRS.

forbes.com

Social Security #LifeHacks

Here are some great social security tips - it's not too early to consider them! http://bit.ly/2U2XGfp

forbes.com Over the years of helping people plan for the overall Social Security claiming strategy, below is a list of life hacks as it relates to Social Security.

Check your report - 1 in 5 consumers found errors on their reports. Don't let a mistake lower your score.

fool.com

5 Tax Tips for the Self-Employed | The Motley Fool

To make sure you're fully complying with the tax rules and taking advantage of all the tax breaks you can claim, check out these five tax tips for self-employed folks. http://bit.ly/2UTnHOT

fool.com Work for yourself? Here are a few key tax tips.

financialhotspot.com

Popular Questions and Answers About Retirement Plannign | www.financialhotspot.com

We all need to plan for our retirement. We know it is important, yet all too many of us fail to plan adequately or save enough. http://bit.ly/2tXdmWQ

financialhotspot.com Retirement may feel like a long way off, but it will be here before you know it. Start planning now with these helpful tips!

Are you planning to move to California? Then you should know about the Mental Health Services Act. It imposes a 1% tax on people who earn more than $1 million annually to pay for expanded mental health care in CA.

forbes.com

How To Avoid The Highest Penalty In The Tax Code

Did you know that one tax mistake could trigger a 50% penalty?
http://bit.ly/37BnLWT

forbes.com There's one tax mistake that can trigger a 50% penalty, and baby boomers are most likely to be hit with the penalty.

Our Story

For over 60 years Berg Faircloth & Company has enjoyed a reputation for highly personalized accounting services for business owners and individuals alike. We have passed-down a philosophy of superior client service and skill to each partner and member of our team. It is our mission to help clients enjoy better financial health and benefit from an organized tax and accounting strategy.

A Legacy of Quality Accounting Services in Leesburg

Our firm was founded by Eli Berg, who later promoted Oscar L. Faircloth to partner in 1963. Oscar’s son and daughter, Ricky L. Faircloth, PFS and Angela K. Wyrick, CPA, PFS were brought on and later made partners themselves in 1992 and 2001, respectively. Leadership in tax and accounting is a part of our family history and makes our firm truly unique. When you visit Berg Faircloth & Company, you can trust your finances will be handled by a team with a shared vision and passion for problem-solving and best-quality service.

Welcoming New Tax and Accounting Clients

Whether you are a business owner looking for improved tax and accounting strategies, or you need assistance with multiple income channels, our team is here to help. Your first consultation includes a review of your last two years’ worth of tax returns. For business owners, we take partnership interests into account and make them a part of the accounting strategy as well.

During this meeting, we make it a point to determine where clients can save money, how their tax strategy can be improved, or what proactive steps can be taken to increase compliance and reduce risk. We ensure your visit with our professionals is efficient and that we make the most of the time you have set aside to speak with us.

Where to find us

You can find our Leesburg accounting firm directly across the street from the Lansdowne Woods (formerly Leisureworld) and close to Inova Hospital - Landsdowne Campus. We welcome you to read more about our team and services on our website or contact our office today for a consultation!

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Location

Telephone

Address


44135 Woodridge Pkwy Suite 200
Leesburg, VA
20176

Opening Hours

Monday 09:00 - 17:00
Tuesday 09:00 - 17:00
Wednesday 09:00 - 17:00
Thursday 09:00 - 17:00
Friday 09:00 - 17:00
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