What are the opening hours?

Monday 9am - 9pm Tuesday 9am - 9pm Wednesday 9am - 9pm Thursday 9am - 9pm Friday 9am - 9pm Saturday 10am - 7pm Sunday 12pm - 7pm

Marguerite Thompson, Ltd.

Home
United States
Vienna, VA
Marguerite Thompson, Ltd.

Accountants and Tax Practitioners providing service to small to medium sized businesses and individu Accountants and Tax Practitioners

09/12/2025

Many Americans seek to earn money by way of a side hustle, which sometimes starts as a hobby. Reminder: This income is taxable. Depending on whether the IRS considers the activity to be a business or a hobby, the tax treatment is very different. On their tax returns, businesses can generally deduct ordinary and necessary business expenses. But if the IRS deems an activity a hobby, deductions are much more limited. To determine if an activity is considered a business, the IRS looks at key factors. These include whether the taxpayer displays a profit motive, operates in a businesslike manner and keeps good records. To learn more, contact us at (703) 938-9115 with questions or visit the IRS: https://bit.ly/3VJi4BG

09/10/2025

Did you know the IRS can hold you PERSONALLY liable for the unpaid payroll taxes of your business? The Trust Fund Recovery Penalty (TFRP) targets business owners and responsible parties who willfully fail to remit payroll taxes withheld from employees. Even if the business is struggling, the IRS doesn’t take missed payments lightly. The financial consequences can be severe. If you've received a TFRP notice or are concerned about payroll tax compliance, don’t wait. We help you understand your rights and build a strong defense. Act now before penalties escalate. Contact us at (703) 938-9115.

09/09/2025

Expense reporting isn’t just paperwork; it’s key to controlling costs, ensuring accuracy and preventing fraud. Follow these six best practices for reimbursable expenses. Need help setting up your expense reporting system? Let’s talk. Contact us at (703) 938-9115.

09/08/2025

Static budgets can quickly fall out of sync with reality in today’s volatile markets. Rolling forecasts offer a smarter, more flexible approach, updating your projections throughout the year to reflect real-time changes in your business, industry and market. They complement your annual budget and help you make better decisions, faster. Want to improve your forecasting and budgeting? Let’s talk. Call us at (703) 938-9115.

09/05/2025

If you’ve recently sold your home and realized a capital gain, you may be able to exclude some or all of the gain from the sale. To claim the exclusion, you must pass IRS ownership and use tests. During a five-year period ending on the date of sale, you must have owned the home and lived in it for at least two years. If qualified, you may be able to exclude a capital gain of up to $250,000 from your income ($500,000 for married joint filers). Be aware that the exclusion is available only for your main home (not a second home). If you realized a loss on the sale, it’s not deductible. For more information from the IRS: https://bit.ly/3GCMQqz or contact us at (703) 938-9115 with questions.

09/03/2025

Struggling with the IRS? Dealing with back taxes, wage garnishments or threatening IRS letters can be overwhelming. But you don’t have to face it alone. We can help with tax resolution issues by negotiating with the IRS on your behalf. Perhaps you need to have a payment plan set up that works for you. In some cases, we can explore an Offer in Compromise to settle your tax debt for less. You deserve a fresh start. Contact us at (703) 938-9115 for help.

09/02/2025

Grabbing lunch with a client doesn’t just build rapport. It can also trim your tax bill. Under tax law, you can generally deduct 50% of qualifying business meal costs. Whether you're dining with clients, partners or employees, these deductions can reduce your taxable income. Keep detailed records of the expenses, including receipts. Document the business purpose of each meal and the business relationship of the people you dine with. Contact us at (703) 938-9115 with any questions about this deduction.

09/01/2025

When planning your estate, start early and update often. It’s crucial to have a plan that grows with you because financial landscapes shift, tax laws change and life circumstances evolve. Here are 5 quick tips. 1) Structure assets to minimize taxes and maximize wealth transfers. 2) Consider trusts to protect assets, control distributions and avoid probate. 3) Ensure accounts (bank, retirement, insurance) have up-to-date beneficiaries. 4) Use annual gift tax exclusions to reduce your taxable estate. 5) Update documents when life changes occur. Contact us at (703) 938-9115 for assistance.

08/29/2025

What should you do if you receive a tax refund that’s more than you’re entitled to? Or what if you receive one that you’re not entitled to? Handling these situations largely depends on the details. A paper check refund should be voided and returned within 21 days of receipt to the address in the link below. But suppose you cashed the check. In that case, submit a personal check within 21 days to that address. If the refund was by direct deposit, contact your bank to have them return the deposit. Also, contact the IRS at the phone number in the link. A check for an amount different than expected should include a brief explanation. For more information, contact us at (703) 938-9115 or visit: https://bit.ly/4bIFVXW

08/27/2025

Have you changed your business’s name, address or “responsible party” recently? Then it’s time to file IRS Form 8822-B. This form ensures the IRS has your business’s up-to-date information and helps you avoid missed notices or tax issues. You must file it within 60 days of any changes to stay compliant. Failing to do so could result in penalties or delays in processing important documents. The responsible party is defined as the person who owns, controls or exercises effective control over a business and directly or indirectly manages the entity’s funds and assets. Questions? Contact us at (703) 938-9115.

08/26/2025

Supporting your favorite charities in 2025? Track and document your donations as you make them so you're not scrambling at tax time. But charitable deductions might not provide the tax savings you expect because of the various rules and limits that apply. Contact us at (703) 938-9115. We can help you assess the potential tax benefits in your particular situation.

08/25/2025

How’s your business’s health now that we’re more than halfway through the year? If you’re not sure, it’s time for a checkup. We can help identify strengths, diagnose risks and prescribe the right moves to keep your business thriving. Contact us at (703) 938-9115 to schedule your business wellness check today!

Address

386 Maple Avenue E Ste 105
Vienna, VA
22180

Opening Hours

Monday	9am - 9pm
Tuesday	9am - 9pm
Wednesday	9am - 9pm
Thursday	9am - 9pm
Friday	9am - 9pm
Saturday	10am - 7pm
Sunday	12pm - 7pm

Website

http://mathompsonltd.com/

Alerts

Be the first to know and let us send you an email when Marguerite Thompson, Ltd. posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Marguerite Thompson, Ltd.:

Shortcuts

Want your business to be the top-listed Accountant in Vienna?