NONPROFIT

We specialize in nonprofit accounting through years of professional commitment serving the nonprofit industry. We are well aware of the challenges that nonprofit organizations face today to manage a sound financial and grant management system.
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SMALL BUSINESS

BMDPC is the ultimate accounting service you will need to hire. We offer a comprehensive bookkeeping, and financial services plans that fit your business requirements and budget. We do NOT just crunch numbers. We add values to your business including ...
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INDIVIDUAL

We provide a wide range of personal tax services that include; tax preparation and filing, tax and estate planning. Further, BMDPC develops a customized financial plan, designed to achieve your specific goals and objectives within any given timeframe.
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Accounting/Bookkeeping

We provide accounting and finance services ranging from performing a specific bookkeeping task as you require to fully administering the accounting and finance department. Accounting service is the crux of BMDPC’s business.Our finance team is committed to putting the accounting puzzle pieces together.

Payroll and Benefits

By developing policies and procedures in the area of payroll and fringe benefits, especially those that comply with the applicable labor laws and benefits administration regulations, BMDPC can keep your company fully compliant at all times. BMDPC’s Payroll and Benefits Administration service include:

Tax Services

BMDPC is dedicated to ensuring the current tax laws and new regulations are incorporated into your taxes.  By attending frequent tax seminars and researching IRS tax updates, we regularly evaluate the best methods to pay the lowest possible amount of taxes allowable by law. "Schedule an appointment with Tax-Man" .

Financial Planning

We are dedicated to developing a financial plan that aids in achieving your short- and long-term financial goals. BMDPC offers advice related to retirement savings, identifying and mitigating risk, estate and gift planning, charitable planning, education savings and planning for major expenditures.

About us

Prior to founding BMD Professional Consulting, Birhanu Demissie, CPA, MSAC served nonprofit organizations, government contractors, small business and individuals for more than 15 years providing accounting, auditing and consulting service. For the past five years, Birhanu served as a controller for an international nonprofit organization headquartered in Virginia. Prior to that, Bihanu held a number of auditing positions at several public accounting firms including Raffa and Grant Thornton. 

OUR OFFICE ADDRESSES 

RESTON

11710 Plaza America Dr
Suite 2000
Reston, VA 20190

Ballston

4601 N Fairfax Dr
 Suite 1200
Arlington, VA 22203

Washington DC

700 12st Street NW
 Suite 700
Washington, DC 20005

BRISTOW

9632 Saybrooke Dr
Bristow VA, 20136

Our Professionalism & Expertise sets us apart! 

Recent News

Six Things to Know About the Changing Tax Environment - 2018 and beyond

1. Individual Tax Rates - the new tax law follows the same seven-bracket structure for individuals as previous law, but thetax rates for many of those brackets decreased, and the income ranges that fall within each bracket changed. For example, the highest individual tax rate is now 37% rather than 39.6%, and it onlyapplies to taxpayers who make more than half a million.

2. Corporate Tax Rates - The corporate tax rate was cut permanently from 35% to 21%. Additionally, the corporate Alternative Minimum Tax (AMT) was eliminated, and there have also been changes made to US taxation of foreign income. Now there is a 100% dividends received deduction for distributions from controlled foreign corporations.

3. Pass-through Entities - Pass-through entities (including sole proprietorships, partnerships, LLCs, S corporations, hedge funds, real estate companies, and private equity funds) have also seen a major change to their taxes. The pass-through deduction is now up to 20% until 2025. It’s almost like getting 20 percent ofthe business’s income tax free. This new provision phases out for accountants, engineers, lawyers, and other service professionals once their income exceeds $157,500 for individuals filers and $315,000 for joint filers. 

4. The Standard Deduction - The standard deduction increased from $6,350 to $12,000 for single filers and $12,700 to $24,000 for joint filers. The increase applies until 2026.

5. Moving, Mileage and Travel Expenses - The deduction for moving expenses is suspended for tax years between Dec. 31, 2017 and Jan. 1, 2026 (with the exception of taxpayers who are active members of the military). All two-percent itemized deductions are also suspended, including unreimbursed employee travel expenses.

6. Salt Deduction Limitations - The new SALT deduction limitation is $10,000 for individuals and $5,000 for married individuals filing separately. This limit only affects those who itemize their deductions on their tax returns and applies to tax years between Dec. 31, 2017 and Jan. 1, 2026.

Making Charitable Donations Of Stock Instead Of Cash After Tax Reform

Donating of appreciated long-term stock instead of cash can be a smart tax-planning move. With a charitable gift of appreciated securities held long-term, the donation you make and the deduction you get are greater than they would be if you were to sell the shares and donate the cash proceeds instead. That is because when you donate shares, you avoid paying the capital gains tax. Read More: https://www.forbes.com/sites/brucebrumberg/2018/11/26/making-charitable-donations-of-stock-instead-of-cash-after-tax-reform/#7005217acb3a