What is a virtual CPA?

A virtual CPA provides the same services as a traditional CPA firm — tax preparation, bookkeeping, audits, financial planning — but delivers them remotely using secure cloud technology. You get expert-level service without visiting a physical office.

How much do virtual CPA services cost?

Pricing depends on the complexity of your financial situation and the services you need. We provide transparent fee estimates during your initial consultation. Virtual CPA firms typically have lower overhead than traditional firms, which translates to more competitive rates.

Do I need an audit for my nonprofit?

Many states require nonprofits to have an independent audit once they exceed certain revenue thresholds, often $500,000-$750,000. Grant-making organizations and government agencies frequently require audited financial statements. We can help determine your specific audit requirements.

What is the difference between an S-Corp and an LLC for tax purposes?

An LLC provides liability protection and pass-through taxation by default. An S-Corp election can provide additional tax savings by allowing owners to split income between salary (subject to payroll taxes) and distributions (not subject to payroll taxes). The right choice depends on your income level, business structure, and state tax laws.

What does a virtual CFO do?

A virtual CFO (fractional CFO) provides high-level financial strategy and oversight on a part-time basis — budgeting, forecasting, cash flow management, financial analysis, KPI reporting, and strategic financial planning. You get C-suite financial leadership without the full-time cost.

Can you help if I'm behind on bookkeeping or taxes?

Yes. We offer catch-up bookkeeping services to bring your books current and can help resolve back tax issues including IRS notices, unfiled returns, and payment plans.

What accounting software do you work with?

We work with QuickBooks Online, Xero, FreshBooks, Wave, and other major cloud accounting platforms. We can also help you select and set up the best software for your business.

How do I prepare for tax season?

Organize financial records throughout the year, keep receipts for business expenses, track mileage and home office usage, make quarterly estimated tax payments, and schedule a year-end tax planning session before December 31.

What is DCAA compliant accounting?

DCAA (Defense Contract Audit Agency) compliant accounting is a system that meets federal government requirements for contractors. It includes proper timekeeping, job cost accounting, indirect cost allocation, and specific internal controls required for government contract work.

Do I need a CPA or a bookkeeper?

Bookkeepers handle day-to-day recording of financial transactions. CPAs handle higher-level work — tax planning and preparation, audits, financial analysis, and strategic advice. Many businesses need both. Our firm provides both services so you have one team managing everything.

What's the difference between an audit, review, and compilation?

An audit provides the highest level of assurance through independent verification of financial statements. A review provides limited assurance through analytical procedures and inquiries. A compilation presents financial information in statement format without assurance. The right choice depends on your stakeholders' requirements.

Do you serve businesses outside the DMV area?

Yes. While our primary service area is Washington DC, Maryland, and Virginia, we serve clients nationwide through our 100% virtual model. Our cloud-based systems allow us to work with businesses anywhere in the United States.

How does Virginia calculate the $1M audit threshold?

Virginia uses "gross contributions" — total donations, grants (including government grants), and membership dues that constitute contributions, received during the fiscal year. This mirrors Maryland's definition but the threshold is higher ($1M vs. $750K).

Does our Northern Virginia nonprofit need to register in Virginia AND Maryland?

If you solicit contributions from residents of both states — yes. Both Maryland and Virginia require registration regardless of where you're incorporated. A Washington DC nonprofit soliciting in both states needs both registrations.

What is the VDACS registration process?

Complete the annual registration through the VDACS online portal at VDACS.virginia.gov. Attach your completed Form 990 (and review or audit as applicable). Pay the registration fee ($100 for organizations with gross contributions between $25K and $2M). Registration is effective upon VDACS approval.

What happens if our audit isn't finished by the VDACS deadline?

File the registration with a note that the audit is in progress and request the 180-day extension before the deadline. VDACS generally grants extensions when requested in good faith. This requires coordinating your audit start date to ensure completion within the extension period.

Is Virginia's $1M threshold based on contributions or total revenue?

The threshold is based on gross contributions — not total revenue. Organizations with significant program service revenue (government contracts, fee-for-service income) may have total revenue well above $1M but contributions below the threshold, reducing their audit requirement. We help clarify your threshold based on your actual financials.

Does Virginia require audited financials for all state grant recipients?

Virginia state grant compliance requirements vary by grant program and agency. Some Virginia agency grants require audits or AUPs within the grant agreement regardless of the VSCL threshold. Always check the audit clause in each grant agreement.

What is the 180-day extension for Virginia charitable registration?

Any registered charitable organization may request an extension of time to file their annual registration report by submitting a written request to VDACS before the original due date. The extension provides 180 additional days. Only one extension per registration period is permitted.

How does Virginia calculate the $1M audit threshold?

Virginia uses "gross contributions" — total donations, grants (including government grants), and membership dues that constitute contributions, received during the fiscal year. This mirrors Maryland's definition but the threshold is higher ($1M vs. $750K).

Does our Northern Virginia nonprofit need to register in Virginia AND Maryland?

If you solicit contributions from residents of both states — yes. Both Maryland and Virginia require registration regardless of where you're incorporated. A Washington DC nonprofit soliciting in both states needs both registrations.

What is the VDACS registration process?

Complete the annual registration through the VDACS online portal at VDACS.virginia.gov. Attach your completed Form 990 (and review or audit as applicable). Pay the registration fee ($100 for organizations with gross contributions between $25K and $2M). Registration is effective upon VDACS approval.

What happens if our audit isn't finished by the VDACS deadline?

File the registration with a note that the audit is in progress and request the 180-day extension before the deadline. VDACS generally grants extensions when requested in good faith. This requires coordinating your audit start date to ensure completion within the extension period.

Is Virginia's $1M threshold based on contributions or total revenue?

The threshold is based on gross contributions — not total revenue. Organizations with significant program service revenue (government contracts, fee-for-service income) may have total revenue well above $1M but contributions below the threshold, reducing their audit requirement. We help clarify your threshold based on your actual financials.

Does Virginia require audited financials for all state grant recipients?

Virginia state grant compliance requirements vary by grant program and agency. Some Virginia agency grants require audits or AUPs within the grant agreement regardless of the VSCL threshold. Always check the audit clause in each grant agreement.

What is the 180-day extension for Virginia charitable registration?

Any registered charitable organization may request an extension of time to file their annual registration report by submitting a written request to VDACS before the original due date. The extension provides 180 additional days. Only one extension per registration period is permitted.

Virginia Nonprofit Compliance

Virginia Nonprofit Audit Requirements

When does a Virginia nonprofit need a CPA audit?

Virginia requires charitable organizations soliciting contributions with annual gross contributions exceeding $1,000,000 to submit audited financial statements to VDACS (Virginia Department of Agriculture and Consumer Services). Organizations with $750,000–$999,999 in contributions may submit reviewed financial statements. Annual registration is due within 4.5 months of fiscal year-end through the VDACS online portal.

Virginia Solicitation of Contributions — Financial Requirements (VSCL)

Feature	Required Document	CPA Service	Deadline
Under $25,000 (no prof. solicitor)	Exempt from registration	None required
$25,000–$749,999	Form 990 or 990-EZ	CPA preparation recommended	4.5 months after FYE
$750,000–$999,999	CPA-reviewed financial statements	Financial statement review	4.5 months after FYE
$1,000,000+	CPA-audited financial statements	Full CPA audit	4.5 months after FYE
Federal grants $1M+	Single Audit (2 CFR 200)	Single Audit engagement	9 months after FYE

Source: Virginia Solicitation of Contributions Law (VSCL) — VDACS

Virginia Registration Deadlines

Key Deadlines

Registration renewal: 4.5 months after fiscal year-end
December 31 year-end: May 15 deadline
June 30 year-end: November 15 deadline
Audit work should begin immediately after fiscal year-end

Extensions & Penalties

180-day extension available — must be requested before due date
Late penalty: 10% of registration fee or $25 minimum
VDACS sends warning letters for delinquent registrations

Common Virginia Compliance Mistakes

"We're at $900K in contributions — do we need a review or an audit?"

At $750K–$999,999, Virginia requires a review. At $1M+, a full audit is required. The exact dollar amount in your Form 990 determines which applies. We verify the correct threshold before beginning any engagement.

"We didn't know the VDACS registration deadline is only 4.5 months after year-end"

Virginia's 4.5-month deadline (vs. Maryland's 6 months) catches many nonprofits off guard. With audit work typically taking 8–12 weeks, organizations must start the audit process immediately after fiscal year-end.

"Our audited financials were late and VDACS sent a warning"

VDACS actively monitors registration compliance and sends warning letters to delinquent organizations. Continued non-compliance can result in registration revocation and public listing as a non-compliant soliciting organization.

"Our Virginia registration was revoked and we didn't know we couldn't fundraise"

Once registration lapses, you cannot legally solicit contributions from Virginia residents. This includes fundraising events, direct mail, and online fundraising visible to Virginia residents.

Key Virginia Regulatory Terms

VDACS (Virginia Department of Agriculture and Consumer Services): The Virginia state agency that administers the Virginia Solicitation of Contributions Law (VSCL), governing registration and reporting requirements for charitable organizations soliciting contributions from Virginia residents. VDACS maintains the public database of registered Virginia charities.

Professional Solicitor: Under Virginia law, any person who is compensated for soliciting contributions on behalf of a charitable organization. If a nonprofit uses a professional solicitor, additional registration and contract requirements apply, and the solicitor must also register with VDACS. This significantly increases reporting obligations.

How Your Virtual CPA Helps Virginia Nonprofits

We specialize in Virginia charitable registration compliance for nonprofits across Northern Virginia and the greater DC region. Our services include:

Financial statement reviews meeting Virginia's VSCL requirements ($750K–$999,999 range)
Full audit engagements for organizations above the $1M threshold
Single Audit for organizations with $1M+ in federal awards
Form 990 preparation for VDACS registration renewal
Extension request preparation
Virginia corporate income tax compliance for organizations with taxable activities

Related Resources

Nonprofit Audit Hub Maryland Nonprofit Audit Requirements DC Nonprofit Audit Requirements Single Audit Services

Frequently Asked Questions — Virginia Nonprofit Audits

Ready to Meet Virginia's VDACS Registration Requirements?

Your Virtual CPA provides Virginia-specific nonprofit audit and review services — helping Northern Virginia and DMV-area nonprofits stay compliant.