Depreciating assets involves a complex area of tax law with implications for transactions other than simple asset acquisitions.Read More
Blog
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Individual Tax Matters in the 2020 Election
As the presidential candidates continue to hit the campaign trail, federal taxes will be a top concern for voters. Here’s an overview.Read More
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Levels of Assurance: Choosing the Right Option for Your Business Today
Here are some important factors to consider when evaluating whether your company’s current level of assurance is the best option.Read More
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CARES Act Made Changes to Excess Business Losses
If you hold an interest in a business, or may do so in the future, be aware that the CARES Act has made changes to excess business losses.Read More
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Taxes on Roth IRA Withdrawals Today
In the COVID-19 era, one possible source of extra cash is your Roth IRA. But, beware, some Roth account withdrawals may not be tax-free.Read More
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4 Layers of Nonqualified Roth IRA Withdrawals
Nonqualified Roth withdrawals can potentially come from four different layers and different federal income tax rules apply to each layer.Read More
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Beware: Retirement Plan Loan Defaults Can Be Costly
The COVID-19 pandemic has resulted in many people borrowing from their companies’ qualified retirement plans, but this should be used only as a last-resortRead More
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The President’s Action to Defer Payroll Taxes: What Does It Mean for Your Business?
The President has taken executive action to defer the employee portion of some workers’ Social Security taxes. Here’s a look at the issue.Read More
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SALT Deductions for Maryland Pass-Through Entity Owners
Senate Bill 523 was passed, which authorized pass-through entities (PTEs) to elect to be taxed at the entity level for state income taxes.Read More
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Prior-Law Kiddie Tax Rates Retroactively Reinstated
The SECURE Act retroactively reversed unfavorable changes made to the kiddie tax by the Tax Cuts and Jobs Act. Here are the detailsRead More