In Memory: Stanley H. Block (1932-2025). His legacy and guidance will continue through our service to clients.
There are few things in life that inspire fear and anxiety like finding out you are being audited by the IRS. Just thinking about the potential implications for your personal life and your business can be headache-inducing, at the very least. But is there anything you can do to avoid an audit? After all, audits […]
If you have unpaid taxes, you probably already know that the state of Maryland may add fees and interest to your debt. But if you couldn’t afford to pay the tax liability in the first place, you might be tempted to shrug your shoulders and say, “Oh well.” This is why the Comptroller of Maryland […]
If you’ve got a tax lien on your house, you’ve probably got questions about it—and for most people, the number one question is “how do I get rid of it so I can refinance or sell my home?” The short answer is that you should be able to pay off your state or IRS tax […]
While bookkeeping and accounting both support healthy finances and accurate financial records for businesses, they are not the same thing. Although they work together, they perform separate functions and require different skillsets. And if you want to make wise financial decisions (and avoid costly tax penalties), you need both. Bookkeeping is actually a building block […]
Going to college can be a time of growth and excitement, not to mention set you up for a productive career. But for many graduates, student loans are the college hangover that just won’t go away. Student loan debt can follow you around for most of your adult life, causing financial stress and impacting your […]
With many families seeing the economic benefit of multi-generational households, there’s another benefit you may be wondering about: tax breaks. If you support someone in your family financially, such as a parent or adult child, you may be able to claim them as a dependent even if you don’t live in the same household. The […]
Payment apps have made it easier than ever to split the bill when you go out with friends, but new rules in the tax code might add some extra complication to apps like Venmo and Zelle. You can still split the bill with friends without any tax implications, but if you receive $600 or more […]
Cryptocurrencies (also called altcoins or virtual currency) have seen some wild fluctuations in the recent past. For example, the value of a single full Bitcoin went from $10,000 to nearly $70,000 and then back down to $20,000, all within the span of two years. Some people have realized huge profits and others have lost thousands […]
If you intend on leaving assets that need to be distributed to your heirs after you pass—whenever that may be—estate planning is an incredibly valuable endeavor. This is not something to be ignored until your golden years, particularly if you have minor children. If the unthinkable happens, you want to make absolutely sure your family […]
Most taxpayers will never get audited. In 2021, the audit rate for taxpayers with income under $1 million was less than 1 percent. But tax audits have a reputation that precedes them, and getting an audit notice in the mail is enough to make a person’s blood run cold. If you’re one of the unlucky […]
