Virginia · Graduated income tax, BPOL taxes
CPA, bookkeeping & fractional CFO services in Virginia
Virginia has a graduated personal income tax with a top rate of 5.75%, and many cities and counties charge a Business, Professional and Occupational License tax on gross receipts. CPA Torrance is a CPA-led firm based in Torrance, California that provides bookkeeping, tax planning, tax filing and fractional CFO support to Virginia businesses remotely.
- Serving all of Virginia remotely
- Virginia Form 500, 502 and BPOL tracked for you
- Monthly reporting included
In short
What is the Virginia BPOL tax?
The Business, Professional and Occupational License tax is a local tax many Virginia cities and counties charge on a business gross receipts, with rates that depend on the type of business. It is separate from state income tax and is filed with the locality, often each spring. Some localities also tax business equipment as personal property.
- State income tax
- Graduated (top 5.75%)
- State sales tax
- State + local (5.3%+)
- Key business tax
- Local BPOL tax
- How we serve
- Remotely, statewide
Services in Virginia
What we do for Virginia business owners
From Northern Virginia government contractors and data center suppliers to Richmond professional firms and Hampton Roads defense businesses, Virginia owners need careful local and federal compliance. We provide monthly bookkeeping, federal and Virginia tax planning, filings and CFO reporting from one coordinated team.
Bookkeeping Services
- Monthly reconciliations in QuickBooks Online
- Virginia sales and use tax tracking by locality
- Payroll and contractor payment review
- Monthly profit and loss and balance sheet
- Catch-up and clean-up bookkeeping
Tax Planning & Strategy
- Entity and S corporation review
- Virginia PTET election review
- Federal and state estimated payments
- Multi-state income review
- Year-end tax planning meeting
Tax Filing & Compliance
- Federal business returns (1120, 1120S, 1065)
- Virginia Form 500, 502 and local BPOL returns
- Owner individual returns
- IRS and state notice help
- Due-date tracking for every filing
Fractional CFO Services
- Cash-flow forecasts
- Budget versus actual reviews
- Margin and pricing analysis
- Lender- and investor-ready reporting
- Growth and hiring plans
Virginia tax planning
Planning around Virginia taxes
Virginia planning combines the state income tax, the PTET election, local BPOL and business property taxes and federal planning.
Book a 15-min callBPOL and property tax
We track gross receipts by locality and help file BPOL and business personal property returns.
PTET election
Virginia offers an elective pass-through entity tax. We model the federal benefit for owners.
Government contracts
Contractors need job costing and indirect cost tracking that supports contract reporting.
Who we work with
Virginia industries we serve
We work with owner-led businesses across Virginia, with experience in the industries that drive the state economy.
Government contractors
Job costing and indirect rates for federal work.
Technology and data centers
Suppliers and service firms in Northern Virginia.
Professional services
Law, consulting and engineering firms.
Agriculture and wineries
Farms, vineyards and food businesses.
E-commerce sellers
Online brands with Virginia sales tax, inventory and multi-channel books.
Professional firms
Consultants, agencies and law firms billing by the hour, project or retainer.
Why Virginia businesses choose CPA Torrance
Areas we cover
Serving businesses across Virginia
Businesses in Virginia Beach, Richmond, Arlington, Alexandria, Norfolk work in federal contracting, defense, technology, data centers and agriculture. CPA Torrance helps Virginia businesses, including those owned from out of state, stay compliant and organized through remote meetings.
- Virginia Beach
- Richmond
- Arlington
- Alexandria
- Norfolk
- Chesapeake
- Fairfax
- Reston
- Tysons
- Roanoke
- Video meetings on your schedule
- Secure document portal for statements and returns
- Cloud accounting you can see any time
FAQ
Virginia business tax and accounting questions
Not covered here? A 15-minute call gets you a straight answer for your situation.
What financial services can CPA Torrance provide to Virginia businesses?
We provide monthly bookkeeping, federal and Virginia tax planning, business tax filing and fractional CFO services. Everything runs from one set of books, so your bookkeeper, CPA and CFO advisor work from the same numbers.
Do I owe BPOL tax in Virginia?
If your city or county charges BPOL and your gross receipts are above its threshold, you likely do. Rules and rates differ by locality, so we check yours.
Can you help with government contract accounting?
Yes. We set up job costing, timekeeping support and indirect cost tracking so your books support contract reporting and audits.
Does Virginia have a pass-through entity tax?
Yes. Virginia allows an elective PTET for partnerships and S corporations, which may help owners with the federal SALT cap.
Can CPA Torrance work with Virginia businesses remotely?
Yes. We serve businesses across Virginia, including Virginia Beach, Richmond, Arlington, Alexandria, Norfolk, Chesapeake, Fairfax, Reston, Tysons and Roanoke, through video meetings, a secure document portal and cloud accounting you can see any time. Our office is in Torrance, California.
How do I get started?
Book a 15-minute call or request a free financial assessment. We review your books, tax position and systems and recommend the right mix of support for your Virginia business.
Get your Virginia books and taxes in order.
Book a call to review bookkeeping and tax planning for your Virginia business.