When the Tax Cut and Jobs Act went into effect in January 2018, many taxpayers stopped itemizing their returns. The reality, however, is not necessarily black and white. Unique...
Blog
These Tax Mistakes Are Easy to Avoid and Costly to Make
Many small business owners approach tax season with a can-do attitude. This entrepreneurial spirit is admirable, but when it comes to compliance, it is usually best to leave tax...
2020 Standard Mileage Rates Announced for Business, Charitable, Medical, and Moving Purposes
The Internal Revenue Service recently issued the 2020 optional standard mileage rates. These rates, which adjust every year to account for inflation of fuel costs, vehicle cost...
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...
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...
“Passive” Job Candidates Can Be a Great Catch
Passive job candidates aren't lazy. They're just people who aren't actively looking for work because they're happy where they are. But that doesn't mean they might not be even...
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...
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...
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...
IRS Finalizes Rule for Truncating SSN on W2
Final regulations from the Internal Revenue Service (IRS) give employers decision-making rights on whether to truncate their employees’ Social Security Numbers (SSN) on Form W2,...
