Interview: Abacus Tax and Accounting Services
March 9, 2015
always love meeting moms who are also running businesses. They remind me
of somebody. I just can’t put my finger on who….
I want to introduce you to Lauren Gross of Abacus Tax Services
, momma to three,
business owner, and really cool lady! I was able to chat with her about her
life and business, and I’m excited to share with you here.
PWCM: Tell me a little bit about yourself and how you
ended up doing what you’re doing.
LG: I live in
Manassas right next to the Kline’s freeze, I moved here about 9 years
ago. I was in college at the time (American University) and when I
was a senior I got recruited for a tax firm in Alexandra, which turned into a
full time position. I worked there for 8 years until it
sold. I wanted to cut my commute anyway and was happy to open my own
PWCM: So what all do you do?
Tax preparation services, mostly individuals and families and small businesses
or Mom Based Businesses like Avon, Tastefully Simple, are my specialty, and I
also do Nanny payroll.
PWCM: Nanny Payroll- that’s a new one for me- what does
that look like?
Right- if you have someone that comes into your house and watches your children
and you pay them more than $1900 a year, you are required to give them a W2
because they are a “household employee” in the eyes of the IRS. It’s
especially important for government employees and contractors so that you stay
“squeaky-clean”. I take care of all the compliance for you- issue the W2
and fulfill the state requirements for VA, DC, or MD.
PWCM: Wow- I had no idea. When should someone
contact you about that?
Generally I tell my clients that they should get in touch before they hire a
nanny so they understand the tax liabilities as an employer so you aren’t
spending more money in fees/taxes/liability before you realize what you’ve
done. Then once a quarter I help you do tax forms to stay current.
PWCM: Speaking of nannies, tell me a little about your
I have 3 kids all May babies, 5, 2, and 9 months. I’m able to work out of
my home office, and I’m happy to work odd hours after work, which is great for
my clients who need hours that aren’t taking away from their work day.
PWCM: It sounds like being an accountant is a great fit.
LG: What I do is
a great fit because I can take off time between tax seasons to be with my kids
and then work from January-April. It is one of the main reasons I
really stuck with this career path because it allows me to balance my work and
PWCM: So, working from your home you must have a really
different feel from say, the large green box people.
Even though I work from my home office, you’re always welcome
here. I know handing over all your personal financial information
can be stressful, so if they want to come and meet me and meet my family,
that’s fine. It’s a very different experience than going to H&R
Block, mostly because my son will be running around the house pretending to be
Buzz Lightyear. I just had a client come over with her toddler this past
weekend to go over all of her paperwork. She joked it was a “two birds
with one stone” appointment… tax prep and a play date. However, I
can also make it really easy- you can submit everything digitally and I can
save you a ton of time which I know is very valuable to moms out there. The most important benefit
that comes from working with me, compared to a retail establishment, is that I
am here for my clients yearlong rather than a seasonal employee that may change
year to year. I am available to help and answer questions when my clients buy a
house, start a business, grow their families, and other things that life throws
their way. And, if you have ever received a letter from the IRS you may know
the knot in your stomach feeling that turns up when you see the return address
on the envelope. Even I get it! But, most of the time it is undue stress.
I can handle any correspondence that you may receive from the auditors.
PWCM: When’s the deadline for people to file with you?
April 1st would be my deadline for on-time filing, but I can take
people for extensions anytime.
PWCM: And what does that cost?
As far as pricing goes, a basic return is $300, which includes the 1040,
Schedules A and B and one state return. Each additional form (for example:
Schedule C for self employment income, Schedule D for stock sales, Form 8283
for non-cash charitable contributions) is billed at an hourly rate, so the cost
is dependent on the complexity of the form and how clear and organized your
data is. The most accurate way to provide you with a quote would be to send me
a copy of your 2013 returns. If you situation is similar this year, I can give
you a good idea of what my bill will be.
PWCM: Finally, as a working mom, do you have any advice
for other moms about how you do it all?
In my opinion, being a working mom is hard but,
being a stay at home mom is harder. I would say that whatever you
do, you have to do what’s best for your family. I think that
allowing myself to take a break from being a full time mom and getting back to
the workforce a couple times a year is really good to connect with who I am as
a person and a woman versus who I am as a mom. Every situation is
different and try to make the most out the the time with your family, even if
it is short.
For more information about working with Lauren and Abacus Tax and Accounting Services this tax season, or throughout the year, visit her website
or shoot her an email, email@example.com.
Disclosure: Abacus is a PwcMoms advertiser.