A Little Help for College
September 25, 2009 | 
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Many parents and college students will be able to offset the cost of college over the next two years under the new American Opportunity Tax Credit. This tax credit is part of the American Recovery and Reinvestment Act of 2009.
Research & Development Tax Credits
September 10, 2009 | Subscribe to our RSS Feed
Research and Development is not just large companies employing scientists working in lab coats with ultra high tech equipment. Many small business also conduct research and developments on a smaller scale – in laboratories, on factory floors, and on computer screens – and receive substantial tax benefits because of it.
The federal government has recently extended (and increased) the tax credits available for Research and Development as part of the Emergency Economic Stabilization Act of 2008. The potential tax savings are significant: in 2006, $7.3 billion in Research & Development tax credits were claimed. 44 percent of Research & Development claims in 2005 came from the manufacturing sector, followed by professional, scientific and technical services (30 percent), the information industry (10 percent) and wholesale trade (6 percent).
Jeff Cohen Recognized as One of Baltimore’s Top Accountants
September 8, 2009 | Subscribe to our RSS Feed
Glass Jacobson is happy to announce that Jeff Cohen, Senior Tax Manager, has received a Baltimore SmartCEO 2009 SmartCPA Award, which recognizes the top accountants in Greater Baltimore based on their expertise, relationship development, achievements, leadership and innovation.
Jeff was recognized because he has used his ingenuity and well-versed experience with the Maryland tax code to develop a program for reverse auditing company’s personal property tax and sales/use tax. These engagements have resulted in large recoveries for the clients. In this economic climate, small businesses can use that extra money!
Financial Planning for Young Professionals
September 1, 2009 | Subscribe to our RSS Feed
Glass Jacobson has designed a new program to provide young professionals with comprehensive and affordable financial planning services. The firm’s new Overview Plan gives people near the start of their careers the same financial planning specialization typically reserved for their more seasoned colleagues.
Historically, people beginning their careers have had few financial planning options that suited their lifestyles and chose to defer planning years or even decades. Glass Jacobson’s goal-based plan structure changes that, allowing people to begin planning their finances at a relatively early stage in their careers.