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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