The American Rescue Plan included a significant overhaul of the child tax credit. It not only expanded the amount of the credit, but it also created a newly advanceable monthly payment; and many taxpayers will see the impact of these changes very soon. Expanded Child Tax Credit For 2021, the … [Read more...] about Enhanced Child Tax Credit is Here!
Our clients often ask us many wide-ranging questions, everything from guidance on new accounting standards to our favorite breweries. But the most common question we receive from audit clients is, how do we recommend they prepare for an upcoming financial statement audit? I suspect I know what many … [Read more...] about Best Practices: How to Prepare for an Upcoming Audit
This is just one example of how we've been able to help our clients with the Employee Retention Tax Credit (ERTC), and what a significant difference it can make for a business or not-for-profit organization. Many businesses/organizations think they are not eligible for the ERTC; but new guidelines … [Read more...] about Employee Retention Tax Credit Provides Significant Financial Relief
Click to download a PDF of our March Cross-border newsletter. … [Read more...] about March 2021 Cross-Border Newsletter
The Maryland Legislature overrode the Governor’s veto of House Bill 932 on February 12, 2021. The override will allow for sales tax to be imposed on digital products and streaming services. Under Maryland law, the legislation takes effect 30 days after the override, so this new sales tax will be … [Read more...] about Two breaking Maryland tax updates: Maryland Sales Tax on Digital Products
The Maryland Legislature overrode a Governor’s veto last month of House Bill 732. The override of this bill will allow for a new tax to be imposed on digital advertising, effective for tax year 2021. This is a tax on gross receipts derived from digital advertising. The tax could apply to taxpayers … [Read more...] about Maryland Digital Advertising Tax