Blog

Nonprofits May Now Have Estimated Payment Requirements for 2018

Because of recent changes to the tax law, some nonprofit organizations will find themselves with taxable income this year, requiring them to make quarterly payment of estimated taxes. What changed? Nonprofit organizations have long been subject to tax on Unrelated Business Taxable Income (UBTI), but the tax reform package passed late in 2017 created a…

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Wynne-Related Interest Claims: The Tax Court Rules

The Maryland Tax Court has issued a taxpayer-friendly decision regarding interest on Wynne-related claims. Comptroller of the Treasury v. Brian Wynne, et ux. was a case decided by the U.S. Supreme Court in 2015 that concerned the credit Maryland taxpayers can take for taxes paid to other states. As a result of the Supreme Court’s…

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Guidance on Blended Tax Rates for Corporations with Fiscal Year-ends

The IRS issued further guidance on April 16, 2018 regarding blended tax rates for C-Corporations with a fiscal year-end.  The Tax Cuts and Jobs Act (TCJA) changed the graduated corporate tax rate to a flat tax rate.  This change is effective for taxable years beginning after December 31, 2017.  What about fiscal year-ends that include…

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Cryptocurrency and Your Taxes

Bitcoin and other forms of cryptocurrency, such as Litecoin and Ethereum, have been attracting increasing interest from individual investors and the media. As CPAs who are interested in tax and finance, we’re paying close attention, too. Hertzbach advises taxpayers and prepares returns for cutting-edge investors who are trading in cryptocurrency. We’re staying up-to-date on related…

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Hertzbach in Focus: Meet Ben Lee

As a certified public accounting and consulting firm,  Hertzbach’s traditional “busy season” begins mid-January and technically ends on the personal tax filing deadline date each year (in 2018 that date was April 17). Due to our wide-ranging client base, there are many statutory deadlines, clients with non-calendar fiscal years, and consulting and outsourcing projects throughout…

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Zeynep Orhan Presents Webinar on Nonprofit Audit & Accounting

Hertzbach’s Zeynep Orhan, CPA presented a webinar this week on nonprofit audit and accounting. This course covered the changes in the non-for-profit industry, including changes in non-profit financial statements and the impact of the new revenue recognition rules and the lease standards. The webinar was hosted by the Accounting & Financial Women’s Alliance (AFWA), a…

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Bret Carr interviewed by Thomson Reuters

Bret Carr, Partner and CIO, recently took the time to speak with Thomson Reuters about Hertzbach and our experience with the Enterprise Cloud Audit Suite, a completely integrated, real-time, cloud-based audit solution from Thomson Reuters. The suite features the combined power of Checkpoint Engage and AdvanceFlow, which work together seamlessly to increase accuracy, facilitate easy…

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Brian Ray, MS, CPA to Discuss New Tax Law at Tax Education Seminar

Hertzbach’s Brian Ray, MS, CPA will be discussing the new 2018 tax law at the Building Congress & Exchange’s upcoming Tax Law Seminar. This seminar will include a panel of accountants who will discuss the impact the new law will have on businesses. Brian is a partner in Hertzbach’s tax department and specializes in assisting…

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Hertzbach in Focus: Meet Andrea Hartman

In honor of International Women’s Day, we took a few minutes to speak with Andrea Hartman about her life as a CPA. Andrea is a Senior Manager with Hertzbach. She is a leader of the firm’s Affordable Housing Industry Group and has over fifteen years of experience in providing assurance, consulting and accounting services to…

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David Sack a Panelist at OpenToGrowth

David Sack, Supervisor with Hertzbach will be a panelist at the Baltimore Chamber of Commerce event “OpenToGrowth2: Falling in love with your financials.” “Meet & Learn from Financial Industry Experts about setting the foundation to scale for growth, proven financing strategies, preparing the request for capital, access to funding, funding your start up, the importance…

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