Posts by Hertzbach

Beat the summer heat and shop Maryland Tax-Free Week

Just in time for back to school shopping, Maryland apparel retailers are beginning a week of tax-free sales. The second Sunday of August to the following Saturday is designated as Shop Maryland Tax-Free Week each year. That means qualifying apparel and footwear $100 or less, per item, are exempt from the state sales tax. Accessory items…

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Patrick V. Trotta, CPA, CHC Joins Hertzbach In Baltimore Office

FOR IMMEDIATE RELEASE CONTACT: Jessica R.M. DeMunda 800.899.3633, ext. 2102 PATRICK V. TROTTA, CPA, CHC JOINS HERTZBACH & COMPANY, P.A. IN BALTIMORE OFFICE Baltimore, Maryland – Hertzbach is pleased to announce that Patrick V. Trotta, CPA, CHC has joined the firm as a Partner as of December 16, 2015. Mr. Trotta has over 30 years…

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2015 Year-End Tax Planning Letters for Businesses and Individuals

  BDO has shared their annual Tax Planning Letters for Business and Individuals. See below for links to each of the letters. As an independent member of the BDO Alliance USA, Hertzbach has access to the resources of BDO USA, LLP. To read more about our membership in the BDO Alliance USA, click here. Please call your Hertzbach Tax…

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Supreme Court Rules in Favor of Wynne:

Maryland Taxpayers to Begin Receiving Refunds on Previously Disallowed Out-of State Income Tax Credits The Supreme Court ruled against a Maryland law that disallowed a full credit to residents on the income taxes paid to other states. Maryland previously allowed a credit on income that was earned and taxed in another state, but the credit…

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Maryland Tax Amnesty

Maryland will hold a Tax Amnesty Program from September 1, 2015, through October 30, 2015. The program offers most taxpayers a waiver of all civil penalties (with exception to previously assessed fraud penalties) related to delinquent tax liabilities and 50% of levied interest through October 30, 2015, and bars criminal prosecution, except for charges already…

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Hertzbach Marketing Intern

Job Description Hertzbach, a regional certified public accounting and consulting firm, is looking for a qualified summer intern to join our marketing/business development team. This internship would be based in Hertzbach’s Rockville, MD location and would require occasional travel to the other office locations (Arlington, VA and Owings Mills, MD.) We are seeking an intern…

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IRS provides relief from $100 a day penalty in Notice 2015-17

On Wednesday, February 18, the IRS released Notice 2015-17 which provides transitional relief from the $100 per day per employee penalty assessed under IRC §4980D for certain small employers.  Additionally the notice provides clarification related to health insurance arrangements for 2% shareholder-employees of S corporations and group health plans with only one plan participant. Transitional…

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One Per Year Limitation For Tax-Free IRA Rollovers

The Internal Revenue Code allows individuals who receive a distribution from an Individual Retirement Account (IRA) to avoid tax consequences by depositing the funds into another IRA within 60 days. Under the code, any amount distributed from an IRA will not be taxable to the account holder to the extent that the amount distributed is…

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