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The Bipartisan Budget Act of 2015: How it Changes Social Security Claiming Strategies
By Francis C. Thomas, CPA PFS The Bipartisan Budget Act of 2015 (BBA) has introduced substantial changes to Social Security law. The BBA passed the federal legislative branch on Halloween weekend 2015 without public input or debate. It became effective when the act...
Business Health Checkup: Pre-Tax Net Income – Operating Expenses
Authors: David Wagstaff and Calvin Longer Periodically we will highlight a ratio or benchmark and talk about how you can use these to better understand your business. The disclaimer: Benchmarks and ratios, blindly applied, can be dangerous. Benchmarks can be useful...
The Tax Scam Cometh – Beware!
Author: Catherine M. Miskiv, CPA Statistics show that phishing has become rampant and, based on the number of calls we receive from clients, the scammers are very good at impersonating the taxing authorities. This past year we saw a significant increase in incidences...
Business Health Checkup: Pre-Tax Net Income – Gross Margin
Authors: David Wagstaff and Calvin Longer Periodically we will highlight a ratio or benchmark and talk about how you can use these to better understand your business. The disclaimer: Benchmarks and ratios, blindly applied, can be dangerous. Benchmarks can be useful...
Year-End Tax Planning
Authors: Jennifer Wallace, CPA and Jason A. Mendick INDIVIDUALS Tax planning can help you minimize your tax liability in both the current year and future year giving you, rather than the government, the use of your money for investment, business, or personal...
Charitable Contributions – A Sound Strategy for Tax Reduction
Author: Frank Pelosi, CPA, CVA One of the strategies to reduce your taxable income is to make a charitable contribution to a qualified organization before the calendar year ends. Common examples of qualified organizations include churches, religious organizations,...
Have you thought about Exit Planning?
Author: Michael J. Reynolds, CPA, CEPA If you’re a business owner, one of your most valuable assets is your business. It is also probably true that you devote a lot of time and thought to managing and growing your company and much less time imagining your company if...
Business Health Checkup: Pre-tax Net Income
Authors: David Wagstaff and Calvin Longer Periodically we will highlight a ratio or benchmark and talk about how you can use these to better understand your business. The disclaimer: Benchmarks and ratios, blindly applied, can be dangerous. Benchmarks can be useful...
Assessing the Potential Impact of the Supreme Court Ruling on Maryland Tax Law on Individuals
Estimated $200 Million in Refunds Will Be Made Available to Maryland Residents… Will Residents of Your Home State Benefit Next? Monday, May 18th marked the date of a landmark ruling by the U.S. Supreme Court. In a five-to-four ruling, the Supreme Court ruled (in...