Verma Tax and Accounting Solutions

What Verma Tax and Accounting Solutions does

Verma Tax and Accounting Solutions is a year-round, full-service tax and accounting firm headquartered at 496 Smithtown Bypass, Suite 306, Smithtown, NY 11787. Founded in 2016, the private, founder-owned, bootstrapped firm serves individual taxpayers (W-2 employees, self-employed, retirees) and small business owners (LLCs, S-corps, partnerships, C-corps with 1 to 50+ employees) across all 50 states through a digital-first workflow with an in-person office component.

The firm's core offerings span individual and business tax preparation, ongoing bookkeeping and payroll, IRS resolution and audit representation, QuickBooks setup and training, and year-round advisory including fractional CFO and tax planning; supporting products include a secure client portal (myfirm360), 20+ interactive financial calculators, tax-guide PDFs, a monthly newsletter, and a weekly Instagram video series titled 'The Balance Sheet.' Underlying technology is composed entirely of industry-standard third-party tools — QuickBooks Online and Desktop (the firm is a Platinum ProAdvisor), HubSpot CRM, CoCard payment processing, and Tidio live chat — with no proprietary platform disclosed.

The business model combines one-time engagement fees (tax preparation and IRS resolution) with recurring monthly subscriptions ($200–$800/mo bookkeeping; full-service payroll per employee per pay period) and hourly or bundled advisory at $150–$400/hour. Acquisition is primarily inbound via content marketing, organic SEO, local Google reviews, and community visibility on Long Island; there are no paid demand-generation channels, no external investors, no parent company, and no reseller or marketplace distribution. Pricing is quote-based after a free initial consultation and is not publicly disclosed.

Name

Verma Tax and Accounting Solutions

Legal name

Verma Tax and Accounting Solutions

Website

https://vermatax.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

Verma Tax and Accounting Solutions is a Smithtown, NY-based tax and accounting firm offering tax preparation, bookkeeping, payroll, IRS resolution, and advisory services to individuals and small businesses across all 50 states via a digital-first workflow.

Ownership category

akta.pro rank

Headquarters

HQ city

Smithtown

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Tax Preparation (Individual): One-time fee per return for preparation of federal and state personal income tax returns. Base rates vary by complexity and forms required. Additional services such as prior-year returns and audit representation are billed separately.
2. Tax Preparation (Business): One-time fee per return for business entity tax returns (S-corp, partnership, C-corp). Rates vary based on entity type, complexity, and number of state returns required.
3. IRS Resolution Services: Fees for IRS audit representation, installment agreements, offer in compromise, penalty abatement, and other IRS resolution matters — billed as separate engagements beyond standard tax preparation.
4. Bookkeeping & Payroll Services: Monthly or quarterly recurring bookkeeping using QuickBooks Online/Desktop, plus payroll processing. Monthly bookkeeping ranges $200–$800/month for most small businesses; payroll is full-service including direct deposit, tax filings, and year-end W-2/1099 preparation. These generate predictable recurring revenue.
5. QuickBooks Services: QuickBooks setup, training, and ongoing maintenance — billed as project or recurring engagements. Platinum ProAdvisor credentials support premium pricing for setup and training services.
6. Fractional CFO / Advisory Services: Year-round strategic tax planning and financial consulting — ongoing advisory relationship beyond seasonal filing. Sold as part of comprehensive engagements or as standalone planning sessions.
7. US Market Entry Services: Specialized services for non-US individuals and entities entering the US market with tax filing obligations — a niche advisory offering.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels8 records

Core offering

Verma Tax and Accounting Solutions is a year-round, full-service tax and accounting firm offering individual and business tax preparation, ongoing tax planning and advisory, QuickBooks-based bookkeeping, payroll processing, IRS resolution, fractional CFO services, and specialized US market entry tax support. The firm serves individuals and small businesses across all 50 states through a digital-first workflow anchored by a secure client portal, with in-person services available from its Smithtown, NY headquarters.

Product overview

Verma Tax and Accounting Solutions operates as a year-round, full-service accounting firm offering a comprehensive suite of tax and financial services. The core offerings include individual tax preparation, business tax and accounting services, tax planning and strategy, QuickBooks and bookkeeping support, IRS resolution services, payroll processing, and US market entry services. The firm positions itself as not just a tax preparer but a business consultant providing strategic guidance year-round. Additional services include fractional CFO services, retirement tax planning, estate and trust tax services, and IRS audit representation. The firm also provides digital tools including an extensive suite of financial calculators and maintains a client portal for secure document exchange. Their video series 'The Balance Sheet' extends engagement with the local business community through educational content on Instagram.

Differentiator

Problem solved

Functional benefit

Products and services

• Individual Tax Returns Accurate, timely preparation of federal and state personal income tax returns with maximum legal deductions for individual taxpayers including W-2 employees, self-employed individuals, and retirees.
• Business Tax & Accounting Full-service business tax returns and financial reporting for all entity types including LLCs, S-Corps, partnerships, and C-Corps, with pricing ranging $1,000-$3,500+ depending on complexity and number of state returns.
• Tax Planning & Strategy Proactive year-round tax planning services to minimize tax liability including entity structure analysis (S-corp vs LLC), Section 179 and bonus depreciation, deduction optimization, and life-event planning. Sold as ongoing advisory engagements or standalone planning sessions at $150-$400/hour or as bundled annual engagements.
• QuickBooks Services QuickBooks Online and Desktop setup, training, and ongoing maintenance including chart of accounts configuration, bank feeds, transaction categorization, bank reconciliation, and one-on-one training sessions, billed as project or recurring engagements.
• Bookkeeping & Payroll Services Monthly or quarterly recurring bookkeeping using QuickBooks Online or Desktop plus full-service payroll processing including direct deposit, payroll tax filings (941, 940, state), W-2/1099 preparation, and new hire reporting for businesses with 1 to 50+ employees. Monthly bookkeeping ranges $200-$800/month.
• IRS Resolution Services Professional representation and resolution for IRS audits (correspondence, office, field), tax notices, installment agreements, offers in compromise, and penalty abatement, billed as separate engagements beyond standard tax preparation.
• Fractional CFO / Advisory Services Year-round strategic financial guidance and business consulting for small business owners requiring CFO-level expertise without full-time staffing, including financial reporting, cash flow management, and growth planning.
• US Market Entry Services Specialized tax and accounting services for non-US individuals and foreign entities entering the US market, handling federal and state tax filing obligations across all 50 states.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Keeper Tax: A tax and expense-tracking app that connects users to licensed tax preparers for filing — overlaps with Verma's individual and self-employed tax preparation but with a mobile-first, tech-enabled delivery approach.
• Botkeeper: An automated bookkeeping service combining AI/ML with human oversight for small businesses — overlaps with Verma's bookkeeping offering but with a more software-centric delivery model and a different go-to-market.

Broad incumbents

• KPMG Small Business Services: The Big Four's small-business accounting, tax, and advisory practice (formerly KPMG Spark) — comparable in serving SMBs with bundled bookkeeping, tax, and CFO-style advisory, but at much greater scale and brand recognition.
• Intuit: Owner of QuickBooks and TurboTax — Verma's core accounting platform and the dominant DIY tax software provider. Intuit defines the ecosystem Verma operates in and represents both a tool dependency and a competitive threat.
• Liberty Tax: Tax preparation franchise network serving individual taxpayers in the US — comparable core service (individual returns) but operates via in-office franchise locations rather than a digital delivery model.
• H&R Block: A national tax preparation incumbent with retail offices, DIY software, and virtual offerings — comparable in core individual and small-business tax preparation, but operating at much greater scale and with a different distribution model.
• Jackson Hewitt: National tax preparation chain serving individual taxpayers via franchised retail locations — comparable in core individual tax service offering but with a fundamentally different, retail-led distribution model.

Direct peers

• Bench: A digital-first bookkeeping and tax service for small businesses combining dedicated human preparers with proprietary software — directly comparable in customer segment (US small business) and bundled service offering.
• 1-800Accountant: A virtual accounting and tax services firm serving individuals and small businesses nationwide with bookkeeping, tax preparation, and advisory — directly comparable to Verma's digital-first, multi-service model for SMB and individual clients.
• Pilot: A bookkeeping, tax, and CFO services provider focused on startups and small businesses — closely comparable in offering (bookkeeping + tax + advisory) and target customer (US SMBs needing recurring financial operations support).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/vermatax
• Instagraminstagram.com/vermataxny
• Facebookfacebook.com/Vermatax

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Verma Tax and Accounting Solutions