CPA Firm in Bethesda, MD
CPA services, outsourced CFO support, bookkeeping and business tax help for Bethesda businesses.
Are You Looking for a CPA Firm in Bethesda?
Here’s what we do. Sangha CPA works with small and mid-size businesses across the Washington, DC region, including Bethesda in Montgomery County, Maryland, handling the accounting, tax and financial planning work that pulls owners away from running the business. We serve Bethesda clients from our office in Fairfax, Virginia, and we also work with businesses across Virginia and Washington, DC.
Bethesda’s economy is built on healthcare and life sciences, government contracting, hospitality and professional services, and Maryland has its own business filing and tax rules that differ from Virginia’s. Whether you need a CPA to handle your business taxes, a bookkeeper to keep your books clean, or an outsourced CFO to guide bigger financial decisions, you can start with one service and add others as your business grows. See all of our accounting services.
Our Services for Bethesda Businesses
CPA & Accounting Services
- Financial reporting
- Accounting system setup and review
- Compliance and year-end support
- Data analysis for business decisions
Outsourced CFO Services
- Budgeting and forecasting
- Cash flow analysis and planning
- Support for financing and growth decisions
- Management reporting
Bookkeeping
- Ongoing transaction recording and account reconciliation
- Monthly financial reports
- Books organized and ready for tax filing
Business Tax Services
- Tax strategy and planning
- Year-end tax projections
- Business tax return preparation
- Help with state and local business filings
Maryland Business Tax Rules to Know
Maryland handles business filings differently from Virginia, and a Bethesda business answers to the state and to Montgomery County. The main items are:
- Annual report and business personal property return: every Maryland LLC, corporation and other registered business entity files the combined Annual Report and Business Personal Property Return (Form 1) with the Maryland State Department of Assessments and Taxation by April 15 each year, even when it owns no property. An extension is available if requested before the deadline, and missing the filing can affect your good standing with the state.
- Income tax: Maryland collects a county income tax along with the state income tax, so what an owner pays depends on the county where they live as well as the business’s income.
- Pass-through entity election: partnerships, S corporations and many LLCs can elect to pay Maryland income tax at the entity level. It can change the owners’ tax picture, and the election has its own timing rules, so it is worth reviewing with a CPA before the year begins.
- Local licenses: some businesses, such as retailers, need a trader’s license from the county in addition to state registration.
Rules, rates and thresholds change, and what applies depends on how your business is organized. Many Bethesda owners also have filings in Virginia or the District of Columbia, so keeping all of those straight in one place matters. We help clients work out which filings apply, prepare them, and keep track of the dates each year.
Businesses We Help in Bethesda
Bethesda is home to major employers in healthcare and research, defense and aerospace, and hospitality, with the National Institutes of Health nearby. We help companies of all types in the area, including:
- Healthcare practices and life sciences companies
- Government contractors and technology companies
- Consulting and professional services firms
- Associations and nonprofits
- Restaurants, retail and hospitality businesses
- Real estate and construction businesses
- Small and owner-operated businesses
Every industry has different accounting needs, so we start by learning how your business makes money and where it needs support.
Bethesda CPA Questions
Do you work with Maryland businesses even though your office is in Virginia?
Yes. We serve businesses across Virginia, Maryland and Washington, DC, including Bethesda, from our office in Fairfax. Call us and we will talk through how we would work together.
What does Maryland require businesses to file every year?
Registered business entities file an Annual Report and Business Personal Property Return with the Maryland State Department of Assessments and Taxation by April 15, even if they own no property. Separate income tax returns apply depending on how the business is organized.
Does Montgomery County have a separate business tax return?
Maryland collects county income tax through the state income tax return, so there is no separate county income tax return. Some businesses, such as retailers, also need a local trader’s license.
What is the Maryland pass-through entity election?
It lets partnerships, S corporations and many LLCs choose to pay Maryland income tax at the entity level instead of passing it all through to the owners. Whether it helps depends on the business and its owners, and the election has its own deadlines.
Is Bethesda its own city for tax purposes?
No. Bethesda is an area of Montgomery County rather than an incorporated city, so county and state rules apply.
How do I get started?
Call us or send a message. We start with a conversation about your business and what you need, then recommend the right mix of services.
Contact Sangha CPA
Sangha CPA, P.C
11325 Random Hills Rd, Suite 360
Fairfax, VA 22030
Phone: (703) 865-4565
Hours: Monday to Friday, 9:00 am to 5:00 pm
See all of our accounting services
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Interested?
Get in touch to talk through what your Bethesda business needs.