Chesapeake Financial & Accounting Associates in Baltimore: Full-Service Tax and CPA Work for Local Businesses and Individuals
Chesapeake Financial & Accounting Associates (CFAAS) is a Baltimore-based CPA firm that handles tax preparation, bookkeeping, payroll, and business accounting for small to mid-sized companies and high-income individuals across Maryland and surrounding states, with particular depth in the construction, healthcare, and professional services sectors.
What CFAAS actually does
CFAAS is a full-service accounting and tax advisory practice structured around two main client tracks: pass-through business entities (S-corps, LLCs, partnerships) and individual high-net-worth tax planning. The firm employs multiple CPAs and enrolled agents, meaning it can handle complex return preparation in-house rather than outsourcing. The firm is engaged on a fee-for-service basis, not contingency; clients typically retain CFAAS annually rather than file-and-forget through a tax mill.
The firm maintains offices in Baltimore County with satellite access for downtown clients, and operates on a by-appointment model during tax season (January through April) and by appointment year-round for planning and bookkeeping work.
Services and fee structure
CFAAS offers tiered packages that scale with business complexity. Individual 1040s with capital gains and rental income typically run $800 to $2,000 depending on schedule count and documentation state. Business returns (S-corp, LLC, partnership) generally start at $1,500 and extend to $4,000 or higher for entities with multiple years of losses, acquisition activity, or significant audit exposure. Bookkeeping retainers run $300 to $800 per month depending on transaction volume and whether payroll is included.
Tax planning consultations (separate from return preparation) cost $250 to $400 per hour. The firm also offers IRS representation for audits and correspondence; this is priced by complexity and is typically an add-on to the annual engagement. Estimated tax planning and quarterly payment schedules are included in most annual retainers or offered as a one-time service for $300 to $600.
Because fee structures vary with scope, CFAAS requests a preliminary interview to quote specific work. Pricing should be confirmed directly.
How CFAAS compares to Baltimore-area alternatives
Baltimore has two distinct accounting markets: high-volume tax mills (H&R Block, Jackson Hewitt, local franchises) that charge $100 to $400 per return and are transaction-focused, and independent CPAs and small firms that charge more but provide advisory depth. CFAAS sits in the second tier.
Choose CFAAS or similar independent boutique firms if you own a business, have complex income sources, face audit risk, or are planning major financial moves (business sale, relocation, entity conversion). These firms make their money advising, not volume-processing. Choose a tax mill if you have a simple W-2, standard itemization, and no business ownership; the cost savings outweigh the lack of planning.
Within Baltimore's independent CPA base, CFAAS differs from pure bookkeeping services (which prepare records but do not prepare returns or provide tax strategy) and from larger regional firms that may be more expensive or less accessible for mid-market clients. Single-practitioner CPAs are also common in the market but carry execution risk if the owner is unavailable or retires.
Who fits CFAAS and who does not
CFAAS is built for business owners, real estate investors, and employed professionals with taxable investment income who need both compliance (timely, correct returns) and strategy (year-end tax moves, entity choice advice, audit defense). The firm also serves small partnerships and S-corps that need payroll coordination and quarterly reporting.
CFAAS is not the right choice for employees with only W-2 income and standard deductions, or for individuals who want to minimize fees at all costs. It also assumes you can provide organized financial records; the firm may charge higher fees if documentation arrives disorganized or incomplete, or may decline to take on clients with severe record-keeping issues.
What the first engagement involves
Initial contact typically includes a phone call or email to describe your situation: business structure, income complexity, prior audit history, and specific concerns. CFAAS will usually request copies of prior-year returns, current-year income statements or transaction records, and a description of any changes (new entity, acquisition, relocation, job change).
A preliminary consultation follows, usually at no charge for potential clients but often billed at hourly rate if substantive planning is discussed. From that call, the firm prepares a fee proposal and engagement letter, which outlines the scope of work, fees, timeline, and client responsibilities (e.g., providing documents by a certain date). Once signed, work typically begins 1 to 4 weeks before the target filing date or consultation date.
Hours, location, and logistics
CFAAS maintains office hours Monday through Friday, 8:30 a.m. to 5:00 p.m. during the off-season and extended hours (often 8:00 a.m. to 6:00 p.m.) during tax season January through April. A receptionist answers the main line; CPAs are available for scheduled consultations. The firm accepts electronic document submission, which is typical for the accounting industry and reduces in-person visits.
The Baltimore County office has on-site parking. Virtual consultations via Zoom or phone are available year-round. Call to confirm current office location and any temporary staffing changes, as accounting firms often shift workload between offices during peak season.
CFAAS earns its place in a Baltimore business guide because it represents the standard service level that small to mid-sized business owners should expect: full CPA credentialing, in-house return preparation, and advisory availability, not mass-market processing. For business owners and investors who operate in the Baltimore metro, this firm bridges the gap between retail tax services and large corporate advisory practices.
