Maryland Pass Through Entity SALT Workaround

R. Daniel Gartrell, CPA, JD Tax Planning For Businesses, Tax Reform 2 Comments

The Internal Revenue Service released IRS Notice 2020-75 on November 9, 2020, clarifying its position on State and Local Tax (SALT) workaround laws passed by several states. In Notice 2020-75, …

tax strategies charitable giving

Time Running Out on Special Charitable Giving Provisions

Byron T. Deese Tax Planning For Businesses, Tax Planning For Individuals Leave a Comment

The holiday season always brings out the charitable inclinations in people, and this year will be no different. We may even see an increase in charitable giving due to provisions …

Can You Deduct Entertainment & Business Meal Expenses? (Updated 2020)

Steven G. Albert, CPA, MST Tax Planning For Businesses, Tax Reform Leave a Comment

(This article has been updated to reflect clarifications in the deductibility of business expenses for employee social gatherings) Wining and dining clients, prospects and business contacts has been, and continues …

Maryland Accesses Rainy Day Fund for $250 Million of New Economic Relief

Maryland Accesses Rainy Day Fund for $250 Million of New Economic Relief

Hugh Vivian Business Management, Coronavirus Leave a Comment

The state of Maryland is dipping into its Rainy Day Fund to add $250 million to the state’s emergency economic relief efforts for small businesses. The additional relief adds to …

PPP forgiveness guidance

New SBA Guidance Clears the Way for a Simpler PPP Loan Forgiveness Process

Tristan F. Spence, CPA, CVA Business Management, Economic Update Leave a Comment

On August 11, when we last wrote about the Personal Paycheck Flexibility Act, the window for PPP loan forgiveness applications had just started to open. But, as we indicated at the …