taxes

August 30, 2021 | Juanita Farmer, CPA

Blog: Start Planning Now for Next Year’s Tax Return

This year’s tax deadline may have come and gone, but it’s never too early to start planning for next year. With that in mind, here are five things you can do now to make next April 15 easier for everyone. 1. Review your paycheck. Make sure your employer is properly withholding and reporting retirement account contributions, […]

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July 16, 2021 | Andrea Sarralde

Inician los Pagos Mensuales del Crédito Tributario por Hijos

El primer pago mensual del crédito tributario federal por hijos ha comenzado a afectar las cuentas bancarias de algunas familias elegibles esta semana. La mayoría de los padres recibirán automáticamente pagos mensuales de $ 250 o $ 300 por niño a partir del jueves. El Crédito Tributario por Hijos en el Plan de Rescate Estadounidense […]

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July 15, 2021 | Michelle Queen

5 Things to Know Today, July 15, In Montgomery County

Today is Thursday, July 15, and here are five things to know in Montgomery County. 1. Maryland Tax Filing Deadline: Today is the deadline to file Maryland income tax returns. While returns are normally due on April 15, this year the state extended the deadline three months. 2. School Board Meets:  The MCPS Board of […]

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July 13, 2021 | Juanita Farmer, CPA

Blog: Small Business: Understanding Payroll Expenses

Federal law requires most employers to withhold federal taxes from their employees’ wages. Whether you’re a small business owner who is just starting or one who has been in business for a while – ready to hire an employee or two – here is what you should know about withholding, reporting, and paying employment taxes. […]

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July 13, 2021 | Andrea Sarralde

Albornoz: Montgomery Ofrece Crédito Fiscal Local y son Fondos para Ayudar a los Residentes

El Concejo del Condado de Montgomery aprobó por unanimidad el Proyecto de Ley de Suplemento de Ingresos para Familias Trabajadoras, que altera ciertos requisitos para que los residentes califiquen para el Suplemento de Ingresos para Familias Trabajadoras (WFIS). El 5 de marzo de 2021, la Asamblea General de Maryland promulgó el Proyecto de Ley del […]

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July 6, 2021 | Juanita Farmer, CPA

Blog: 10 Tips to Help You Start Saving for Retirement

It’s never too late to start, but the sooner you begin saving, the more time your money has to grow. Gains each year build on the prior year’s gains – that’s the power of compounding – and the best way to accumulate wealth. These ten tips will help you get started: Set Realistic Goals. Project your […]

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July 2, 2021 | Deirdre Byrne

Child Tax Credit Payments Begin July 15

Many working families across the nation are about to receive monthly payments to support childcare needs beginning July 15. Included in the American Rescue Plan, which President Joe Biden signed into law in March, is an expanded Child Tax Credit, which increases the credit to $3,600 per child for children ages 5 and under, and […]

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July 2, 2021 | Sarah Dilworth

Alcohol Beverage Services Offering Limited Edition Drinks For 70th Anniversary

Montgomery County’s Department of Alcohol Beverage Services is marking its 70th anniversary with the release of three limited edition products. Starting July 2, a specially designed beer and two whiskeys will be sold in most of the 26 ABS retail stores, according to a Montgomery County press release. ABS asked a Maryland brewery and distillery […]

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June 29, 2021 | Maryam Shahzad

Council’s New Regulations Incentivize Housing Development at Metro Stations 

The Montgomery County Council on Tuesday unanimously approved regulations to implement the “More Housing at Metrorail Stations Act,” which aims to incentivize high-rise housing construction at Metro stations by providing a payment in lieu of taxes (PILOT), with some criteria for development. According to the council, the bill offers the PILOT for 15 years for […]

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June 28, 2021 | Juanita Farmer, CPA

Blog: Tips for Students with a Summer Job

If your child is a student with a summer job, your child’s wages over the summer are considered taxable income. Here’s what they should know: Form W-4. When anyone gets a new job, they need to fill out a Form W-4, Employee’s Withholding Allowance Certificate. Employers use this form to calculate how much federal income tax to […]

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