INSIGHTS

We See Things Differently

When we’re not addressing clients’ needs for business and financial advisory, assurance or tax matters, we’re researching, learning and thinking about related subjects. Check out some of our thinking on a broad variety of topics that may impact your organization. And if you’d like to learn more about any of these topics, we’re always happy to talk.

Resources, Tax Center Jennifer Ferraro Randolph Resources, Tax Center Jennifer Ferraro Randolph

The 5-Step Year-End Planning Checklist for Businesses

Year-end planning is more than just closing your books. It’s your opportunity to learn from the previous year and set your business on the right track to achieve your goals for the upcoming year. Here is a checklist of things you should start now and complete before the end of this year to close this year out right and help your business plan for the upcoming year.

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News Jennifer Ferraro Randolph News Jennifer Ferraro Randolph

What Businesses Need to Know About the MarylandSaves Program

In September 2022, Maryland introduced the MarylandSaves program, which is designed to help businesses comply with both federal and state laws mandating that employers offer retirement savings for employees. Here’s what business owners need to know about this program, even if you already offer a retirement plan for employees.

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Tax Center, News Jennifer Ferraro Randolph Tax Center, News Jennifer Ferraro Randolph

The Inflation Reduction Act Signed into Law: How It Affects Taxes for Businesses

On Sunday, Aug 7, 2022, the Senate passed a $750 billion health care, tax, and climate bill called the Inflation Reduction Act. The bill outlines changes that could have tax implications, specifically for businesses. The bill still has to clear the House of Representatives before it is set in motion. Here is a breakdown of the bill’s tax implications if it is passed and signed into law.

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Insights, Tax Center Brett Friedman, CFP® Insights, Tax Center Brett Friedman, CFP®

Rental real estate: Determining if a property is a business or an investment

If you own rental real estate, its classification as a trade or business rather than an investment can have a big impact on your tax bill. The distinction is especially important because of the 20% Sec. 199A deduction for certain sole proprietors and pass-through entity owners. This article provides a brief overview of the deduction and rental real estate guidance related to it. A sidebar spotlights the IRS definition of “real estate professional” as it relates to this tax matter.

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Insights, Tax Center Brett Friedman, CFP® Insights, Tax Center Brett Friedman, CFP®

When can you deduct business-related meals . . . and how much can you deduct?

The TCJA permanently eliminated deductions for most business-related entertainment expenses paid or incurred after 2017. But it didn’t specifically address the meals, beverages and snacks that often accompany entertainment activities. Then the CAA temporarily increased the deduction for certain business-related meal expenses. Many business owners today aren’t sure what they can deduct or how much they can deduct. This article tells them what they need to know.

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