Research and Development Tax Credits for Qualified Small Businesses Nov 06, 2017

In- Charge Accountant, Daniel Auth

Research and development is an important part of starting and growing a successful business particularly in the ever-changing business environment so heavily reliant on technology in 2017. Innovation, introduction and improvement of products and processes can often times be the difference between a startup company’s success or failure. Recent Internal Revenue Service (IRS) developments have… Read More

The Business of Doing Well By Doing Good Aug 25, 2017

In- Charge Accountant, Daniel Auth

The Federal Small Business Administration reports that about 75 percent of small business owners donate some portion of their profits to charity each year with the average contribution being around six percent of earnings. Fulfilling philanthropic intentions has emotional rewards and there are potential tangible benefits for your business. The more you align your charitable… Read More

Employers Face New January 31 W-2 Filing Deadline Nov 16, 2016

Staff Accountant, Kyong Suk (Chris) Lee, CPA

The Protecting Americans from Tax Hikes (PATH) Act, enacted last December, includes a new requirement. Employers are now required to file Form W-2 with the Social Security Administration by January 31. This new filing deadline also applies to Forms 1099-MISC, used to report payments to independent contractors. Employers previously had time until the end of… Read More

What to do if you are a victim of Tax Related Identity Theft Sep 15, 2016

Tax Supervisor, Trevor Raymond

It seems like the daily news cycle is inundated with security hacks, data breaches and identity thefts. These electronic breaches are resulting in more individuals becoming victims of tax related identity theft. According to the IRS website, “tax related identity theft occurs when someone uses your social security number to file a tax return claiming a fraudulent refund.” Read More

Avoid Becoming a Victim Aug 10, 2016

Tax Supervisor, Bahar Atamyildiz

Every year the IRS comes out with the dirty dozen list of tax scams like “identity theft”, “phishing”, “return preparer fraud” and “phone scams.” Too many individuals fall victim to these schemes. Don’t be a victim! IRS recently warns of summer surge in IRS-impersonation bogus calls and requests for fake tax payments. The bogus calls… Read More

Alternative Minimum Tax Planning TIPS Jan 12, 2016

Tax Supervisor, Trevor Raymond

BACKGROUND: The Alternative Minimum Tax, originally implemented by Congress in 1969, was designed to ensure that high-income individuals pay a minimal amount of tax. The tax is calculated on Form 6251 and is extremely complicated. After calculating your regular tax, a number of preference items are added back to your taxable income, AMT exemption is… Read More


Director of Business Tax, Michael Buckley, CPA

The State of Maryland has enacted a Tax Amnesty Program that will run from September 1, 2015 until October 30, 2015. All civil penalties (except previously assessed fraud penalties), criminal prosecutions and one-half of unpaid interest will be waived for eligible participants in the Tax Amnesty Program. Taxpayers with Maryland deferred payment arrangements can also adjust their payment plans under the terms of this program. Read More

Your Tax Return and the Health Care Law Mar 06, 2015

Tax forms

What will the Affordable Care Act mean to you at tax time? Individual taxpayers will notice they’re asked for some additional information on their tax returns this year because the law requires you to confirm that you have health insurance. Read More

It’s Not Too Late to Make a Retirement Plan Contribution Feb 19, 2015

Starting Your Own Business

Small business owners usually have a long list of items on their to-do lists. If contributing to your retirement plan was on your agenda last year, there may still be time to add more to your nest egg and reap the rewards on your 2014 return. If you are self-employed, for example, you may qualify… Read More

2015 Changes to IRA Rollovers and FSAs Feb 10, 2015

Authored by Staff Accountant, James Di Rubbio

Beginning in 2015 there will be changes in the way you are allowed to make rollover contributions to your IRAs. Specifically, 408(d)(3)(B) will only allow you to make one rollover to another IRA in any 12-month period. Read More

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