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Changes in Maryland Tax Payments to Reduce Your Federal Income

Posted on: September 28, 2021

This will save taxes, so we want to do this for you now. If you live or have a business in Maryland, we will be emailing you shortly about changes to your Maryland taxes.  We have been working on your tax planning.  We have estimated the savings to each of you already….as best we can … Continue reading Changes in Maryland Tax Payments to Reduce Your Federal Income

Vaccine Rules for Employers with over 100 Employees

Posted on: September 14, 2021

First, know that none of this has been finalized yet.  We will let you know when it is. You may be aware the Biden administration announced that OSHA will soon issue a rule that will require all employers with 100 or more employees to either ensure their workers are vaccinated or require unvaccinated employees to … Continue reading Vaccine Rules for Employers with over 100 Employees

2021 Tax Planning – Estate Taxes

Posted on: August 26, 2021

As Your Tax Professionals and Trusted Advisors, CAS is The Hub of Your Important Wheel.  We should be talking to all your Spokes!  We will work with your attorney, your financial planner, your banker, your insurance agent, etc…..all the people you depend on to help you keep more of your hard-earned money. When your advisory … Continue reading 2021 Tax Planning – Estate Taxes

Planning for higher capital gains taxes

Posted on: August 24, 2021

For many of you, the biggest consequences of the latest tax policies could be related to capital gains. The current highest capital gains rate possible, is 37.1%. Let’s take a quick look at the standard current rates, minus any state tax: Rate Single Income Married filing jointly 0% Less than $40,000 Less than $80,000 15% … Continue reading Planning for higher capital gains taxes

Credit Card Security

Posted on: August 3, 2021

Accepting credit cards is convenient, but in today’s world of security breaches, it is more important than ever to be sure you are compliant with rules regarding acceptance of credit cards for payment of your product or services. If you process or store credit cards in any manner, you are required to comply with PCI … Continue reading Credit Card Security

CAS 2021 Tax Planning – # 1 HSA Health Savings Account

Posted on: August 2, 2021

An HSA is a great way to save money on your 2021 taxes now! Unfortunately, many don’t understand the concept, and that’s where we come in. We want you to keep more money in your pocket. An HSA is merely a savings account that you pay your medical bills (not your health insurance) out of. … Continue reading CAS 2021 Tax Planning – # 1 HSA Health Savings Account

ERC Updates

Posted on: July 8, 2021

2020 & 2021 ERC credits are trickling in.   The IRS has confirmed they are in Processing, but no time line is available. Q3 and Q4 ERC The only qualifications left to qualify for the ERC for Q3 and Q4 are: 1. 2021 Q2 revenue declined by 20% or more compared to Q2 of 2019 *If … Continue reading ERC Updates

Maryland and Virginia Unemployment Insurance Fraud

Posted on: July 7, 2021

MARYLAND Maryland and Virginia, as well as many other States are reporting a high amount of fraudulent Unemployment Claims. If you receive a fraudulent claim, Maryland has setup instructions in order for you to report this. If fraudulent claims go unprotested, we will all see an increase in unemployment rates. In addition, your individual rate … Continue reading Maryland and Virginia Unemployment Insurance Fraud

Maryland Released Form 511 – Extended Pass-Through Entities’ Deadline to September 15th

Posted on: July 1, 2021

The long-awaited Maryland Form 511 has finally arrived. Yesterday, the Maryland Comptroller released the Pass-Through Entity Election Income Tax Return—along with instructions—for filing pass-through entity (PTE) returns for 2020 for those filers that elect to pay Maryland tax at the entity level. The form is used to both report the current year income and remit … Continue reading Maryland Released Form 511 – Extended Pass-Through Entities’ Deadline to September 15th

IRS 2019 Form W-4 Represents Major Changes to Payroll

Posted on: September 13, 2018

On June 6, 2018, the Internal Revenue Service (IRS) released a draft Form W-4, Employee’s Withholding Allowance Certificate, for 2019. The Tax Cuts and Jobs Act (TCJA) made significant changes to tax rates, deductions, tax credits, and withholding calculations. Highlights of the Draft Form W-4 for 2019 Number of Allowances Eliminated Perhaps the most prominent … Continue reading IRS 2019 Form W-4 Represents Major Changes to Payroll