How an HSA Can Boost Your Retirement Savings

To have a health savings account (HSA), you generally must be covered by a high-deductible health plan (HDHP) at work. HDHPs have become popular in recent years as employers have struggled to keep health benefit costs down. If you’re not covered by one now, you...

Should You Pay Down Your Home Mortgage Early?

If you routinely have extra cash on hand after paying off your monthly bills, you might want to consider paying down your home mortgage balance faster than is required under your loan agreement. This can be a powerful way to invest surplus cash. But it’s not...

Marketplace Facilitators

The General Assembly of Maryland enacted House Bill 1301 during the 2019 legislative session. Under the new law, marketplace facilitators must collect Maryland sales and use tax on a retail sale or sale for use by a marketplace seller to a buyer in Maryland. A...

S Corps: Time for a Year-End Tax Projection

As the end of the year approaches, it’s time to identify tax planning moves you should make before December 31st. The first step in the process is to engage our firm to make a projection of this year’s income, along with expected tax deductions and tax...

Before December 31st, Think About Your IRA

Is converting a traditional IRA to a Roth IRA a good idea for you? At first glance, a Roth IRA may not seem worthwhile. You cannot deduct Roth IRA contributions in the current year, while you can make tax-deductible contributions to a traditional IRA if you meet the...

New Bankruptcy Relief Coming Soon

Is your small business struggling to make ends meet? Some relief may be on the way for distressed business owners. The Small Business Reorganization Act of 2019 will make it faster and less expensive to benefit from a Chapter 11 bankruptcy. The legislation was signed...