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Maryland Healthy Working Families Act Information

By Hertzbach | February 16, 2018

On January 12, 2018, the Maryland General Assembly overrode Governor Hogan’s veto of 2017’s mandatory paid leave law, House Bill 1. Therefore, Maryland employers are now required to provide paid leave to employees. On February 11, 2018, the Maryland Healthy Working Families Act is scheduled to go into effect. UPDATED 2/16 MD CHAMBER OF COMMERCE: (February…

Do You Know the Impact of the New Lease Accounting Rules on your Financial Statements?

By Hertzbach | February 16, 2018

Companies that have not evaluated the effect of the new lease accounting rules should not delay in getting started.  The new rules, which take effect in years beginning after December 15, 2019, will require operating leases be recorded on the balance sheet as a lease obligation with a corresponding “right of use” asset.  The asset…

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

By Real Estate | February 15, 2018

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…

Hertzbach Sponsors 2018 Employee Ownership Conference

By Marketing | February 14, 2018

Hertzbach is proud to be a sponsor for the upcoming Employee Ownership Conference this spring. In addition to sponsoring this event, two members of our valuation team, Robert Carter, MS, CPA, CVA, CFE, CEPA and Robert Cantor, CPA, CVA, CFE will be attending the conference.  Over 1,700 people will be coming from all over the…

The Proposed RCS-1 System’s Impact On SNF Reimbursement

By Health Care | February 7, 2018

How will Medicare & Medicaid Services’ (CMS) change the way Skilled Nursing Facilities (SNF) are reimbursed for Medicare Part A residents?  This is the question on the minds of many SNF providers these days.  Beginning fiscal year 2019, CMS is proposing to change from the current Resource Utilization Group (RUG) system to the Resident Classification…

Shop Maryland Energy Weekend Announced for 2018

By Marketing | February 6, 2018

The Maryland Comptroller’s office is reminding consumers of the state’s annual Shop Maryland Energy weekend event. For 2018, this special sales tax holiday will be from Saturday, February 17 through Monday, February 19. During these three days, consumers will not have to pay the state’s 6% sales tax on qualifying Energy Star products, including standard…

Celeste Sollod, CPA Featured in MACPA Blog Reflecting on CPA Day in Annapolis

By Marketing | February 1, 2018

Hertzbach’s Celeste Sollod, CPA has written an article that is featured on the Maryland Association of CPAs’ (MACPA) blog. The article tells her experience attending Maryland’s annual “CPA Day” in Annapolis as a first-time attendee. She goes into detail on how the day was structured, explaining that all CPAs were sorted into groups based on…

New credit for employer paid family and medical leave created by the recent Tax Act

By Marketing | January 29, 2018

The recent Tax Act creates a new credit as an incentive to employers who provide paid family and medical leave for FMLA reasons.  Some of those reasons include an employee’s serious health condition, parental leave, caring for a family member, or the demands due to the military deployment of the employee’s family member. The credit…

Maryland Registered Apprenticeship Tax Credit

By Tax Department | January 26, 2018

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…

Hertzbach featured in Golf Digest regarding 2018 Meals & Entertainment Deductions

By Marketing | January 25, 2018

Brian Ray, Tax Partner of Hertzbach & Company, P.A. was recently interviewed by Peter Finch of Golf Digest. “Golf took an unexpected hit in the new tax law. Will it cause lasting damage?” discusses the impact that the Tax Cuts and Jobs Act will have on the golf industry. On Dec. 22, President Trump signed the…

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