Our Latest Insights

Relief from Losses from Hurricane Ian

Relief from Losses from Hurricane Ian

Many local taxpayers own homes and other property in the areas impacted by Hurricane Ian.  In the wake of Hurricane Ian, the states of Florida, South Carolina, and North Carolina have been declared federal disaster areas.  Individuals who have property that was...

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Client Spotlight: McMahon Insurance Agency

Client Spotlight: McMahon Insurance Agency

Some people take a vacation with their friends to celebrate their 40th birthday. Bill McMahon, Jr., and his wife, Sandy, purchased their own insurance agency for his 40th celebration. In 1981, Bill purchased Chattin-Halliday Insurance Agency in Ocean City and went to...

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New Policy for Tax Season

New Policy for Tax Season

In order to maintain the traditional high quality of our tax services, we are finding it necessary to take steps to combat the tax deadline squeeze that has been resulting in recent years from the delay in form issuance and late tax law changes. This year we are...

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Renting Your Home or Vacation Property

Renting Your Home or Vacation Property

Many of our clients own and rent out homes they do not use full time as a residence, and even more are considering it based on the enticements of companies like Airbnb.  Renting a property you use personally is somewhat different from renting a property that you do...

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The SECURE 2.0 Act of 2022

The SECURE 2.0 Act of 2022

The SECURE 2.0 Act of 2022 (the Act), enacted on December 29, 2022, builds on the SECURE Act of 2019, which increased the age of required minimum distributions (RMDs) and eliminated age restrictions for traditional IRA contributions. The legislation could help...

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