Proposals to Ease the Unemployment Tax Burden
October 23, 2009 | 
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The state Department of Labor, Licensing and Regulation is working on two changes that would cushion the blow for businesses as their unemployment insurance taxes skyrocket: payment plans and a reduction in late payment fees.
Next year, unemployment taxes are expected to at least triple for nonprofits and companies. At maximum, employers who have experienced multiple layoffs will pay $1,147.50 per worker, up from $765.
Details on the MD Unemployment Tax Increase- OUCH
October 13, 2009 | Subscribe to our RSS Feed
The Department of Labor, Licensing and Regulation just released word that the state’s unemployment insurance tax is set to more than triple for Maryland businesses effective January 1, 2010. Here are some details:
Employee or Independent Contractor?
October 7, 2009 | Subscribe to our RSS Feed
A common practice in many professional businesses is to hire new workers as independent contractors instead of employees. This practice is especially prevalent in the dental profession. The primary reason for doing this is obviously to save money. Not only is the owner not responsible for paying payroll taxes but they can also avoid extending any benefits, such as health insurance or retirement benefits, to the dentist, hygienist or assistant.
Changes to Estimated Tax Rules – ATTN: Self-Employed
October 6, 2009 | Subscribe to our RSS Feed
For tax years beginning in 2009 only, the American Recovery and Reinvestment Act of 2009 (ARRA) reduced the amount of estimated tax that individual taxpayers with income from small businesses must pay.
Taxpayers who do not have their taxes withheld (or do not have enough withheld) may have to make estimated tax payments. Self-employed taxpayers generally will have to pay their taxes this way. Taxpayers may also have to pay estimated tax if they receive income such as dividends, interest, capital gains, pensions, gambling winnings, rents or royalties, because there is generally no withholding on such amounts.
Glass Jacobson Recognized as a Top Investment Firm
October 2, 2009 | Subscribe to our RSS Feed
Glass Jacobson made the Baltimore Business Journal’s list of top Baltimore Investment Firms on Friday, September 28th. While GJ is a regular on the BBJ’s List of Top Accounting Firms, this is our first appearance on the Top Investment Firms list.