Author: Nick Brabham

If you’re like most people, you only consider calling your CPA when tax season rolls around. But preparing taxes is only one part of the CPA job description. It benefits both individuals and small businesses to take advantage of their CPAs expertise all year long.

Whether you’re managing your personal finances or running a small business, working with a CPA year round offers long-term value, peace of mind, and smarter financial decisions. From dispensing expert advice, to assisting in smart budget decisions, to ensuring compliance, CPAs serve as trusted financial advisors all year long.

Mitigate Tax-Time Stress: Proactive Tax Planning

Working with a CPA year-round can mitigate tax season stress. A CPA can help you make critical decisions throughout the year, estimate your quarterly taxes, and ensure your compliance with any changes in in tax law so there are no unpleasant surprises during tax time.

For individuals, a CPA can help you minimize your tax liability by strategically planning deductions and ensuring you have a clear snapshot of what to expect from your tax bill or return. For small businesses, a CPA can provide guidance on how to optimally structure your company and help you plan for estimated taxes and business expenses.

Have an Expert in Your Corner: Ongoing Financial Advice

Having a relationship with a CPA means you have an expert to rely on for advice on the best way to manage your day-to-day financial tasks. Armed with their input, you can feel confident that you’re making the right daily choices that will pay off long term.

Individuals can get help with budgeting, saving for retirement or education, and managing investments all with tax implications in mind. If you run a small business, working with a CPA gives you access to accurate bookkeeping, financial reporting, and help making informed decisions based on real-time numbers.

Get Support for the Big Moments: Guidance During Life & Business Transitions

It can be hard to focus on navigating financial details during life’s big transitions. Just as CPAs are wonderful resources for day-to-day financial management, having a CPA to guide you through big financial moments pays dividends.

Experiences like buying a home, getting married, changing jobs, or receiving an inheritance are all exciting milestones that also have big tax implications. Working with a CPA ensures you’re prepared for tax time, safeguards your long-term financial health, and frees you up to focus on the moment. CPAs can be valuable consultants during business transitions too, whether you are hiring employees, applying for loans, or even selling your business.

Enjoy Excellent Reporting: Compliance & Audit Readiness

No one wants to be caught by surprise by a tax audit. For both individuals and businesses, working year round with a CPA means you’ll stay up-to-date on the latest federal and state tax laws. You’ll also get impeccable support on how to track transactions, detect and prevent fraud, and stay organized. In the case that you are faced with an audit, you can rest easy in the knowledge that you’re organized and prepared.

Peace of Mind & Time Savings: Work with a Local CPA

When you work with a local CPA like our experts at Neely’s Accounting, you’ll enjoy greater peace of mind and more time back in your days. Our accounting firm has helped individuals and small business with their accounting needs since 2007. We know VA tax laws, regional business environments, and community-specific challenges inside-and-out so you always an informed consultant to turn to.

Year-round CPA support isn’t just smart, it’s strategic. Whether you’re managing your personal finances or growing a business, schedule a consultation today to see how our friendly, Roanoke CPAs can help you stay ahead.

Are you a small business owner barely keeping their head above water? As every small business owner knows, the to-do list is never ending and can be all-consuming. If you’re feeling stretched thin, outsourced financial services could be a game changer for you and your business.

Relying on a trustworthy financial partner is a great, cost-effective solution to free up time and gain peace of mind. And the best news is, most accounting firms offer different service options so you can choose the right one for you from bookkeeping, to payroll, to outsourced accounting. Keep reading to learn more about outsourced financial services for your business.

What are Bookkeeping Services?

Bookkeeping services encompass the day-to-day financial needs of your business. From maintaining accurate records of transactions, to tracking expenses, to bill payment and invoices, bookkeeping services can keep all your finances in order. Here are typical tasks covered by bookkeeping services:

• Daily transaction classification
• Expense tracking
• Payroll
• Bill payment and invoicing
• Business tax planning and preparation
• Reporting

If you’re having trouble managing daily record keeping of your business’s financial activities, then outsourced bookkeeping is for you. A trustworthy partner will keep pristine financial records that you’ll have at your fingertips whenever you need them.

What are Payroll Services?

When you engage payroll services, you’ll have an expert on your side that manages the process of paying your employees down to the last detail. From managing employee setup, to calculating tax withholding, to ensuring regular and timely payments, payroll services free up your time while keeping you organized. Here’s what you can expect from most payroll services.

• Scheduled payrolls
• Payroll filings
• Employee setup
• Time tracking
• W-2 & 1099 processing
• Pension and garnishment remittance

Payroll services are a great option for you if you’re spending all your time on payroll and compliance, or if you have a complex, multi-state business model with multiple employees. An expert accounting firm can handle this task ensuring you’re free to focus on running your business while your employees are well taken care of.

What is Outsourced Accounting?

Outsourced accounting is the heavy hitter of financial services, offering in-depth and strategic support for your business’s financial health. This comprehensive service often includes payroll and bookkeeping along with analysis and strategic guidance about your finances. Here’s what you can expect from outsourced accounting:

• Account reconciliation
• Advice & consulting
• Tax preparation
• Payroll
• Bookkeeping
• Accounting system setup

If you’d like support on your strategic financial decisions, budgeting, or an in-depth analysis of your financial health (in addition to day-to-day services) then outsourced accounting is a great investment. You’ll get both operational and strategic support that will give you more time back in your day and help you take your business to the next level.

Benefits of Outsourced Financial Services

No matter what service you choose, outsourced accounting, payroll and bookkeeping will free up your time and give you access to a trusted financial professional you can turn to for support.

In addition to gaining time, outsourced financial services are also cost-effective. Rather than hiring an in-house employee, which comes with risk, outsourcing provides you a trusted and experienced professional to handle all your needs at a rate that is typically more budget-friendly for small businesses.

Get the Support You Need

To choose the right level of support for you, it’s important to consider your current capacity to manage financial concerns, your budget, and the time you can dedicate to financial tasks. If you’re still not sure, a trustworthy accounting partner can help you think through your options.

At Neely’s we’ve been helping small businesses in Roanoke manage their finances through bookkeeping, payroll and outsourced accounting since 2007. Our Roanoke CPAs help small business owners free up time, save money, and enjoy peace of mind with our modern and friendly service. Give us a call or stop by our office and we can help you determine the right level of support for you.

As tax season approaches, Neely’s is partnering with WSLS 10 News to bring you a new series, “It’s Your Money.” Every Monday and Wednesday at 5 p.m. and 7 p.m. from March 5 through April 9, local ta experts – including our very own Chuck Neely – will answer tax questions on air.

Don’t miss your opportunity to get advice from the experts! Our discussion will cover everything you need to know to have a successful tax season. Tune in to hear all the details about:

• Maximizing Deductions
• Tax Credits and Reporting Changes
• Filing and Deadlines
• Tax Planning for the Future
• And More!

Plus, you have a chance to shape the conversation! You can submit your tax questions online at WSLS. Our experts will share valuable tax tips to help you save money and be well-prepared for this tax season and beyond.

Watch live every Monday and Wednesday at 5 p.m. and 7 p.m. to get valuable advice and make the most of your tax return. Missed an episode?” No problem. We’ll continue to update our site with links to past episodes so you have all the information you need at your fingertips.

• March 5th – Interview with accounting CEO Chuck Neely
• March 10th – Avoid common tax filing mistakes this tax season
• March 12th – It’s your money: all about tax deductions
• March 26th – Interview with tax expert on tax tips for senior citizens

Neely’s Accounting Services provides expert tax preparation and accounting in Roanoke, VA. Our clients have trusted us with their business management, personal income tax, and outsourced accounting needs since 2007 because we deliver big-city service with hometown values. We’re proud to offer a full range of professional products at a fair price without sacrificing the individual attention you deserve. Our friendly, dedicated advisors are always ready to help you with personalized solutions that meet your needs. Work with Neely’s and take the stress out of taxes.

Confusing forms. Changing tax laws. The fear of making a mistake. Filing your own taxes can be overwhelming.

You don’t have to go it alone. Working with a qualified tax preparer will save you time, preserve your sanity, ensure that your taxes are done correctly and build a professional relationship for the future.

Here are eight things to look for before you hire a Roanoke account, CPA, or tax preparer:

1. Know the tax preparer’s credentials. The IRS requires all paid tax return preparers to have a Preparer Tax Identification Number (PTIN). Ask what professional affiliations they have and what types of continuing education classes they attend.
2. Search online for any red flags, such as Better Business Bureau complaints or disciplinary actions by Virginia agencies or the IRS.
3. Don’t believe grand promises, including the ability to offer larger refunds than the competition.
4. Understand the fee structure and ask questions. Be aware of extra charges for any unexpected complications. Read the fine print of contracts. Avoid preparers who charge their fees as a percentage of the refund or who offer to collect your refund in their accounts.
5. Ask if your taxes will be filed electronically and using IRS e-file. The IRS requires this of professional tax preparers unless the client specifically requests that paper forms be filed.
6. Reputable tax preparers will ask for your records and receipts and take the time to ask you questions about your financial history. This helps them figure out the details of your income and what deductions and credits you may be eligible for this year.
7. A good tax preparer is available for your questions, even after your return has been filed.
8. Consider the long term. Do you plan to use a professional tax preparer next year and the year after? Invest in a relationship with an individual or firm who will be in business for years to come.

Above all, make sure you choose professional tax preparation. Neely Accounting Services has a team of qualified and professional tax preparers who meet all these standards and more. We’re Roanoke’s trusted local advisor because we’re real people you can talk to whenever you need us. Call us today to make an appointment to talk about your taxes.

A new year means that tax time is just around the corner. For some people, tax season is an exciting opportunity to get organized and tackle their annual finances. However, many others feel intimidated by taxes, pushing off filing taxes until the last minute or even missing important deadlines. If this sounds like you, don’t worry. You’re not alone. According to the IRS, 20-25% of US taxpayers wait until the last two weeks to prepare their tax returns.

As Roanoke’s trusted tax experts, we at Neely’s want you to have all the info you need. Knowing your deadlines is step-one in taking control of tax season. It helps you avoid a stressful, last-minute scramble or worse—missed deadlines and fines. To help, we’ve compiled all the season’s tax deadlines so you can face the 2025 tax season with confidence.

Personal Income Tax & Self-Employed Deadlines

• January 15, 2025 – 4th Quarter 2024 estimated tax payment due. If you’re self-employed or have other income without any tax withholding, and you make quarterly estimated tax payments, this is the due date for your final quarterly payment for the 2024 tax year.
• January 31, 2025 – Due date for employers to send W-2 forms, 1099 forms, and other important forms. The IRS requires employers to send W-2s no later than January 31 following the close of the tax year. January 31 is also the deadline to send 1099 forms, and forms 1099-NEC,1099-MISC, and 1099-K which are used to report payments that typically don’t come from an employer, such as income from work as an independent contractor, gig worker, or self-employed person or income like interest, dividends, prize winnings, rents, royalties, or brokerage account transactions.
• February 28, 2025 – Due date to file 1099/1096s (excluding 1099-NECs) if you are paper filing. If you choose to paper file, and have income requiring a 1099, your deadline to file is a bit earlier than the standard, mid-April tax deadline.
• April 15, 2025 – Tax day. Unless it’s a weekend or a holiday, the deadline to file your taxes is always April 15th. It’s also the last day to make HAS contributions and contributions to the majority of retirement plans and to pay your 1st quarter estimated taxes. You can also file for an extension if your documents are quite ready to submit.
• June 16, 2025 – Second quarter 2025 estimated tax payment due. Quarterly estimated taxes aren’t quite evenly spread out in the calendar year. The first payment occurs 3 and a half months into the year. The second payment is five and a half months; the third payment is eight and a half months, and the fourth payment is due 12 and a half months after the year starts.
• September 15, 2025 – Third quarter 2025 estimated tax payment due.
• October 15, 2025 – Deadline to file your extended 2024 tax return. If you chose to file an extension request on your tax return, this is the due date for filing your tax return.

Businesses – Partnerships (including LLCs), C Corps (Form 1120), S Corps (Form 1120S), and Nonprofits (Form 990)

• January 15, 2025 – 4th Quarter 2024 estimated tax payment due
• Early 2025 – 2024 Tax season begins
• January 31, 2025 – Employers send W-2s forms to employees and send 1099 forms
• March 17, 2025 – Taxes are due for some business types (partnerships, multi-member LLCs, and S-Corporations). Businesses organized as partnerships, including multi-member LLCs, and S-Corporations need to file Form 1065, or 1120S by March 15, 2025, if they are a calendar year business. If your business uses a fiscal year, you need to file your tax return by the 15th day of the third month following the close of your tax year. For example, if your business uses an April 1 – March 31 tax year, your business tax return would be due June 15 instead of March 15.
• April 15, 2025 – Taxes for C-Corporations are due. Businesses organized as C-Corporations need to file form 1120 by April 15, 2025, if they are a calendar year business. If your business uses a fiscal year, you need to file your tax return by the 15th day of the third month following the close of your tax year. For example, if your business uses an April 1 – March 31 tax year, your business tax return would be due June 15 instead of in April.
• May 15, 2025 – Due date to file most nonprofit returns (Form 990). Most nonprofits have an extra month to submit their forms to the IRS. They will need to file a Form 990 by May 15.
• September 15, 2025 – Deadline for extended partnership and S-corporation returns
• October 15, 2025 – Deadline for extended C-corporation returns
• November 17, 2025 – Deadline for extended nonprofit returns.

Contact Neely’s Accounting Services for Expert Tax Support in Roanoke

Whether you relish taxes or feel a bit nervous, having a trustworthy expert on your side can makes all the difference between complicated and stress-free.  Neely’s Accounting Services has provided expert tax preparation and accounting in Roanoke, VA since 2007.

Our friendly, dedicated advisors are always ready to help you with personalized solutions that meet your needs. Let us take the stress out of running your business and filing income taxes. Contact us or visit today.