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2016 Tax Season – Open on Saturday. Schedule your tax appointment today!

2016 Tax Season – Open on Saturday.  Schedule your tax appointment today!

Tax Season is Here. We can help you with your tax preparation.  Call us and schedule an appointment today! Open Monday through Friday 9-7pm and Saturdays from 9-6pm.   Our professionals are licensed and in good standing with Maryland Department of Licenses and Regulations. You will need the following information […]

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MD Registration Requirements – Individual Tax Preparers

MD Registration Requirements – Individual Tax Preparers

Individuals who, for a fee, prepare federal and state tax returns for Marylanders are required to be registered by the Board. An individual must obtain this registration before soliciting or preparing tax returns. Registered tax preparers are required to hold a current Preparer Tax Identification Number (PTIN) issued by the […]

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Save Tax Dollars- Save Time – Tax Organizer

Save Tax Dollars- Save Time – Tax Organizer

Tax Deduction Locator & IRS Trouble Minimizer This tax  organizer is designed to assist and remind you of information that is needed to prepare your tax return. The goal is not to overlook anything so you can maximize your legal tax deductions, comply with government reporting requirements, and avoid IRS problems after the return is […]

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IRAs

IRAs

IRAs TRADITIONAL OR ROTH? IRAs are great opportunity to save and plan for the future.  Traditional IRAs allow you to make tax-deferred investments to provide financial security when you retire.  Traditional IRAs can help you reduce taxes in 2015, but withdraw at retirements of 59 1/2 are subject to taxation.   Roth […]

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Facing a Huge Gain from a Realty Sale?

Facing a Huge Gain from a Realty Sale?

Facing a Huge Gain from a Realty Sale? Adjusted Basis  Acquisition Value  Passive Loss Carryovers  Installment Sale  Tax-Deferred Exchange  Tax on Net Investment Income Gain from a Realty Sale? If you are contemplating selling real-estate property, there are a number of issues that could impact the taxes that you might […]

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2016 Tax Tips

2016 Tax Tips

HIGHLIGHTS OF THE CHANGES AFFECTING 2016 Home Mortgage Interest – The IRS recently added three new fields to Form 1098, which the bank sends to you each year to let you know how much home mortgage interest you paid during the year. The new fields include the balance of the […]

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Tax Deductions for Sales Representatives

Tax Deductions for Sales Representatives

Tax Deductions for Sales Representatives The General Rule for qualify tax deductions; In order to deduct expenses in your trade or business, you must show that the expenses are “ordinary and necessary.” An ordinary expense is one that is customary in your particular line of work. A necessary expense is one […]

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Tax Deductions for Business Professionals

Tax Deductions for Business Professionals

Key Deductible Expenses – Professional Industry PROFESSIONAL FEES & DUES: Dues paid to professional societies related to your profession are deductible. These could include professional organizations, business leagues, trade associations, chambers of commerce, boards of trade and civic organizations. However, dues paid for memberships in clubs organized for business, pleasure, […]

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