About Us
Hampton Roads Accounting provides professional tax preparation and accounting for individuals and small businesses, focusing on individuals with tax problems with the IRS or local tax authority, and startup businesses.
How We Got Started
Hampton Roads Accounting started in 2015 providing tax preparation and small business accounting services, but have expanded to offer tax resolution services to individuals and small businesses
The products and services we offer
Products & Services
Tax Resolution – If you have received a notice from the IRS or your State Tax Agency, please contact our office for assistance. Fees vary.
A new home, new baby, career change, moving expenses, going to college. All exciting times in your life, and all affect your taxes. We will ensure ...
Started a new business in the past year? Please contact us as soon as possible. There are many startup expenses you incurred, and many of them are ...
Recommendations Given (2)
"A great combination of customer-focused service and valuable services that everyone needs!"
"Great service, fair prices, excellent products. Definitely recommended!"
Recent Activity
"Audit" is not the correct word. The better word is "Review". Small business owners should review their expenses, at a minimum, monthly. This monthly review does two specific things:
(1) Alignment with your business. All expenses should in some way contribute to your business. If you are...
(more)
"Audit" is not the correct word. The better word is "Review". Small business owners should review their expenses, at a minimum, monthly. This monthly review does two specific things:
(1) Alignment with your business. All expenses should in some way contribute to your business. If you are spending money that doesn't move your business forward, you are throwing money away. A monthly review will make you ask "Why am I spending money on this?" If you can't answer that question, it is time to eliminate that expense.
(2) Awareness. When I review a small business' records, and I ask what a particular expense is for, the WORST answer I can hear is "I don't know". If you don't know why you are paying an expense each month, your business is literally wasting money each month.
A GREAT time to review your business expenses is around the 15th of every month. By this time:
a. You are in the middle of the month, so your attention is not taken away by those items that happen at the beginning or the end of each month. b. You have received your bank statement(s) from the previous month. c. Your bookkeeper has had time to reconcile your bank statement to your records. d. You have a couple of weeks to make an adjustment in expenses (a "course correction") before the month ends, which includes planning for the next month/quarter.
As for the question of 'What to keep?" or "What to cut?" - that is a simple question. If something doesn't move your business forward in some way, then cut it.
Realize that you don't have to do EVERYTHING by yourself, because you can't do that effectively. You didn't go into business to do bookkeeping, or advertising, or getting new clients, or even something like doing background checks on new employees. You went into business to do whatever it is...
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Realize that you don't have to do EVERYTHING by yourself, because you can't do that effectively. You didn't go into business to do bookkeeping, or advertising, or getting new clients, or even something like doing background checks on new employees. You went into business to do whatever it is you love (helping people build a financial future, or styling hair and nails, or woodworking, or even making the best fishing lures in the market.) Focus on the part of business that you love, that part that motivates you, and delegate the rest to others. You will love what you are doing, and your business will be successful.
Simple - provide the service you promise. Or even better, provide more than you promised, or earlier than you promised.
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Simple - provide the service you promise. Or even better, provide more than you promised, or earlier than you promised.