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Hertzbach at the 2015 HAND Annual Meeting

Posted by on Jun 23, 2015 | 0 comments

Hertzbach at the 2015 HAND Annual Meeting

Hertzbach’s Affordable Housing Team had a blast at the HAND Annual Meeting today! Hertzbach has over 35 years of experience serving the needs of the affordable housing community. Our firm is staffed by a highly skilled team of professionals who are dedicated to understanding of the unique accounting needs of the affordable housing industry. Contact us today at AffordableHousing@hertzbach.com to find out how we can assist you with our services and...

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Supreme Court Rules in Favor of Wynne:

Posted by on May 18, 2015 | 0 comments

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 was only allowed to be claimed against Maryland state income tax and not against the local tax to counties.  The Supreme Court Justices, in a 5-4 decision, ruled that it was unconstitutional for Maryland to...

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Maryland Tax Amnesty

Posted by on May 7, 2015 | 0 comments

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 pending or under investigation. The waiver applies to non-reporting, underreporting and nonpayment of individual and corporate income tax, withholding tax, sales and use tax, and...

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Tax Court considers house flipper’s expense deductions

Posted by on Apr 2, 2015 | 0 comments

Tax Court considers house flipper’s expense deductions

With many real estate markets on the rebound, real estate investors are resuming house flipping strategies to reap profits by,among other benefits, deducting large amounts of related expenses. But those expenses are deductible only if incurred in connection with a “trade or business.”And, as the taxpayer in the recent case of Ohana v. Commissioner learned the hard way, a trade or business requires more than just vague intentions to sell at some point. Read the full article in the March/April issue of Real Estate...

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Sign Up to Receive the Hertzbach Auto Advisor

Posted by on Apr 2, 2015 | 0 comments

Please click the image below to submit a request to receive our Auto Advisor Newsletter:

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Inventory Fraud: Knowledge is your first line of defense.

Posted by on Apr 2, 2015 | 0 comments

Inventory Fraud: Knowledge is your first line of defense.

Inventory is one of the biggest assets on a manufacturer’s balance sheet. It’s also one of the hardest assets to measure and track. Thousands of transactions flow through the inventory account each year — and many of these journal entries require subjective estimates, such as overhead allocations, write-offs and valuation adjustments. In addition, many employees have direct daily access to inventory or inventory accounting records, providing an ongoing temptation to steal or cook the books. Read the full article in the Spring 2015 issue of...

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Hertzbach Marketing Intern

Posted by on Mar 31, 2015 | 0 comments

Job Description Hertzbach & Company, P.A., 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 that is energetic, a self-starter, and outgoing. The Marketing Intern should be prepared to work both independently and in a team environment. The...

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

Posted by on Mar 20, 2015 | 0 comments

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 Relief for Small Employers Employer payment plans as defined in IRS Notice 2013-54 which fail to comply with market reforms related to group insurance...

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Hertzbach: One of the 5 largest accounting firms in the Baltimore area

Posted by on Feb 10, 2015 | 0 comments

Hertzbach: One of the 5 largest accounting firms in the Baltimore area

This week’s Baltimore Business Journal “List” ranks accounting firms by the number of CPA’s working in Baltimore-area offices. Hertzbach is #5 with our local number of CPA’s at 80…and growing!  Click here to read more on the Baltimore Business Journal website. 

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New Partner Announcement: Travis B. Daniel, CPA

Posted by on Feb 2, 2015 | 0 comments

New Partner Announcement: Travis B. Daniel, CPA

Hertzbach & Company, P.A. is pleased to announce that Travis B. Daniel, CPA is now a partner of the firm. Mr. Daniel joined Hertzbach & Company, P.A. in 2002. He is a graduate of Frostburg State University with a B.S. in Accounting. He has also earned his M.B.A. from Loyola College and is a certified public accountant in Maryland. Mr. Daniel is a partner in Hertzbach’s Real Estate Group and specializes in assisting clients with tax planning and compliance for entities taxed as corporations and partnerships. Mr. Daniel is also involved...

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