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24 09
Whether your small business is new or you’ve run it for decades, you may not fully understand which expenses are potentially tax-deductible and which aren’t. After all, that’s why you have a tax advisor! But it’s worth keeping up with tax law because your daily decisions could significantly reduce your business’s taxable income — and […]
15 09
Dear Client, Maryland has opened the employer registration for the Family and Medical Leave Insurance (FAMLI) program. All Maryland employers must register and the state requires an authorized officer of your business to create the account and complete identity verification. Because of this requirement, your business must complete the registration directly. You can register here. […]
14 09
When a business is acquired, its customers don’t necessarily transfer their loyalty to the buyer. Customers may worry about future pricing, service, product quality and whether the business’s new owner understands what they value. If their concerns go unanswered, competitors may see and exploit an opening. If you’re anticipating making an acquisition, plan how you’ll […]
28 08
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 […]
27 08
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 […]
26 08
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 […]
27 07
Dear Client, Maryland’s Family and Medical Leave Insurance (FAMLI) program is entering its final pre-launch phase. As of April 2026, the Maryland Department of Labor has finalized the regulations and implementation timeline. The transition will begin this year, with financial impacts starting in 2027. Below is an overview of the key dates and requirements to […]
24 07
Dear Client, We want to highlight an important IRS rule that may affect taxpayers who report business losses on Schedule C. If your business shows a loss in a given year, the IRS applies what is commonly referred to as the “hobby loss” rule to determine whether the activity qualifies as a legitimate business. What […]
23 07
Financial information is the foundation for every important business decision. Whether your goal is to improve cash flow, launch a new offering, hire additional workers or expand into a new market, accurate data enables you to make decisions confidently. An experienced advisor can help prepare this data and ensure your business is poised to capitalize […]
25 06
Home values have risen significantly in many areas of the country over the last several years, leaving some homeowners with substantial gains when they sell. Of course a large profit is generally a good thing. But, depending on the amount of your gain, how long you’ve owned and resided in the home, and your income […]