Tax

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…

Read More

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…

Read More

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…

Read More

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…

Read More

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…

Read More

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…

Read More

Greg Will, CPA, MST, CFE interviewed in the O&P Almanac

Greg Will, CPA, MST, CFE was featured in February 2018 issue of the O&P Almanac. Greg discusses the impact of the Tax Cuts & Job Act on O&P facilities and owners. Greg says “Overall, O&P facilities and owners will benefit from the recent changes to the tax laws by realizing greater after-tax incomes.”  Greg also…

Read More

How the Tax Cuts and Jobs Act Impacts the Real Estate Industry

The Tax Cuts and Jobs act made multiple changes to tax regulations impacting the real estate industry. Highlights of some of the changes are summarized below.  1031 Exchanges Section 1031 exchanges are now limited to only exchanges of real property not held primarily for sale. It only includes property held for use in a trade…

Read More

Maryland Registered Apprenticeship Tax Credit

The Maryland Apprenticeship Tax Credit is a tax credit given to Registered Apprenticeship Sponsors and/or employers who employ an eligible Registered Apprentice(s).  The credit is worth up to $1,000 per each eligible Registered Apprentice. As with any credit Maryland provides, there are always limitations. The credit may only be taken against the state income tax…

Read More
©2018 HERTZBACH & COMPANY, P.A. All Rights Reserved.