Michael Straus has helped thousands of new and existing business clients utilize Virginia tax credit programs, including the Virginia Equity and Subordinated Debt Tax Credit, Federal and Virginia Historic Rehabilitation Tax Credit, Land Preservation/Conservation Easement Tax Credit and Enterprise Zone Tax Grants. He has also helped them take advantage of federal tax credit programs, such as FICA Tip Credits for restaurants and federal historic rehabilitation tax credits.
A former CFO in the entertainment and food service industries, Michael is also particularly well-versed in improving company operations, particularly in helping them streamline tasks and increase efficiency. He has performed hundreds of internal control evaluations and works with owners to establish controls, policies and accounting reports suited to their needs. He has also worked with clients who are buying businesses, from start-up and expansion to succession planning and liquidation.
In addition to consulting, Michael is a well-respected speaker on taxation issues, including specialized seminars to the restaurant and real estate industries and other CPA groups. He has written several articles on various tax topics and has appeared on all of the Richmond area TV networks to discuss financial and tax issues.
Michael was initially attracted to accounting for the challenge of finding ways to help save people money on their tax returns. He continues to find satisfaction in saving clients money, making their accounting easier and helping them protect their assets and grow their businesses. As further proof of his dedication and experience, Virginia Business magazine has recognized him as a Super CPA nine times for his work in Individual and Corporate Tax.
Michael’s community activities outside of work have included serving as the treasurer on the St. Francis Home board of directors, Wyndham Homeowners finance and budget committee, Peninsula Ducks Unlimited committee and the U.S. Postal advisory committee.
PROFESSIONAL ASSOCIATIONS:
- American Institute of Certified Public Accountants
- Virginia Society of Certified Public Accountants
EDUCATION:
- Bachelor of Science in Accounting from Virginia Tech in Blacksburg, Virginia
ARTICLES:
Maximizing Virginia’s Historic Rehabilitation Tax Credit
The Historic Rehabilitation Tax Credit (HRTC) Program in Virginia offers significant financial incentives for restoring historic structures. By meeting the Standards, property owners can reduce their income tax liability, claiming up to 45% of eligible rehabilitation expenses—20% from the Federal government and 25% from the State.
The Virginia Land Preservation Tax Credit Program
Learn how Virginia taxpayers can reduce their state tax liability through the Virginia Land Preservation Tax Credit program.
The Protecting Americans From Tax Hikes Act of 2015
Extended Credits Help Lessen Business Taxes As a business owner filing taxes in 2015, you’ll want to consider taking advantage of federal tax breaks that […]