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Real Estate Investments: Maximizing Your After-Tax Gains

  Real estate investors consider several factors when buying and selling land to secure maximum possible gains, but often neglect to include taxes in their plans. Taxes on gains can be one of the largest costs of the transaction and since the spread between ordinary income tax rates and capital gain tax rates can be…

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IRS Alerts Payroll and HR Professionals to Phishing Scheme Involving W-2s

  The Internal Revenue Service today issued an alert to payroll and human resources professionals to beware of an emerging phishing email scheme that purports to be from company executives and requests personal information on employees. The IRS has learned this scheme — part of the surge in phishing emails seen this year — already…

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Angela Pueschel Joins Berman Goldman & Ribakow LLP as Director of Marketing

Angela Pueschel has joined Berman Goldman & Ribakow LLP (bgr CPAs), a Mid-Atlantic regional accounting, audit, tax and consulting firm as Director of Marketing. Angela will lead the firm’s marketing strategy and execution. She has spent the majority of her career developing deep expertise in all areas of marketing, including strategic planning, branding, internal and…

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U.S. Supreme Court Rules in Favor of Taxpayer in “Comptroller v. Wynne”

A divided U.S.  Supreme Court ruled that Maryland’s income tax law is unconstitutional because it does not provide a full tax credit to residents for income tax paid outside the state, a ruling likely to cost Maryland counties and localities across the country millions of dollars in revenue. A Howard County couple challenged the law, arguing…

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3 Ways the Parental Leave Act Could Stymie Business Accounting in MD

  Business accounting in Maryland changes with the tide as new laws take effect each year. How have your human resources and accounting departments adjusted to Maryland’s Parental Leave Act (PLA)? What the PLA means for business accounting in Maryland As of Oct. 1, 2014, the PLA requires Maryland employers with 15-49 employees to provide up to…

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Keeping TRAC of Tip Income: Tip Compliance

Participating in an IRS Tip Agreement is like having an audit insurance policy. If your business employs workers who earn a substantial portion of their income from tips (bartenders, restaurant or hotel workers, beauticians, casino employees and so on), then a tip agreement essentially provides you with immunity against an IRS audit. The IRS established…

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Congress-passed bill averts fiscal cliff tax consequences

By Priya Patel In the early morning hours of Jan. 1, 2013, the Senate, by a vote of 89-8, passed H.R.8, the “American Taxpayer Relief Act” (the Act). Late on that same day—hours after the government had technically gone over the “fiscal cliff”—the House of Representatives, by a vote of 257 to 167, also passed…

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