August 26, 2026 / by Brett Hess / Deadlines
Dear Client, We wanted to send a friendly reminder that you may have an FBAR filing requirement if you, your business, or a related entity held foreign financial accounts during the year. An FBAR (Foreign Bank Account Report, FinCEN Form 114) may be required if the combined value of all foreign financial accounts exceeded $10,000 […]
Read more
Contact us today at 301.698.0795
Be Tax-Smart With Your Mutual Fund Investments
August 28, 2026 / by Brett Hess / Tax
Mutual funds offer an easy way to invest in a diversified portfolio compared to buying individual stocks and bonds. But the tax treatment of mutual funds isn’t so simple. How are mutual funds taxed? If you sell appreciated mutual fund shares, the resulting profit will be taxable. If you’ve held the shares for one year […]
Read more
Before You Spend Lottery, Gambling or Other Winnings, Understand the Tax Rules
August 27, 2026 / by Brett Hess / Uncategorized
It’s easy to focus on the excitement of a big win. But federal tax law generally treats lottery prizes, gambling winnings and other awards as taxable income. Knowing the basic rules can help you avoid surprises when you file your 2026 return next year. Lottery prizes Of course, the chances of winning big in the […]
Read more
Potential FBAR Filing Requirement – Deadline October 15
August 26, 2026 / by Brett Hess / Deadlines
Dear Client, We wanted to send a friendly reminder that you may have an FBAR filing requirement if you, your business, or a related entity held foreign financial accounts during the year. An FBAR (Foreign Bank Account Report, FinCEN Form 114) may be required if the combined value of all foreign financial accounts exceeded $10,000 […]
Read more