Tax

The Hertzbach Tax Group provides a comprehensive range of innovative tax services to our clients. Navigating the tax landscape of today requires skilled professional help to carefully track, interpret, and plan. We bring specific experience to every area of tax planning and preparation. We are focused on keeping you informed, and one step ahead.

Here are some of the tax matters in which we can assist:

  • Business Tax Preparation and Planning
    • Corporations
    • Partnerships
  • State and Local Tax
  • Estates, Gifts and Trusts
  • Credits and Incentives
  • Individual and High Net Worth
  • Transaction Planning
    • Merger & Acquisitions
    • Business Transition Plans
  • Nonprofit
  • International

Useful Tax Information

Tax Updates

IRS Issues Guidance Clarifying Deductibility of Business Meals

Posted By: Tax Department , October 4, 2018

Since the release of the Tax Cuts and Jobs Act in late 2017, one major point of discussion has been the deductibility of expenses for business meals. The Act amended §274, treating all entertainment expenses as non-deductible. However, the Act did not specifically clarify if certain business meals would automatically be considered entertainment expense and…

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Employer Credit for Paid Family and Medical Leave – New IRS Guidance Provided

Posted By: Tax Department , September 25, 2018

Under the Tax Cuts and Jobs Act a new business tax credit was created for qualifying employers who provide paid family and medical leave to employees in 2018 and 2019.  See our previous blog post for more information.  Employers have until December 31, 2018 to establish a new plan or modify an existing plan to…

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Senate Republicans Clarify Intent of Tax Cuts and Jobs Act Provisions

Posted By: Tax Department , August 17, 2018

On August 16, 2018, several Republican members of Congress wrote a letter to the Secretary of the Treasury and Acting Commissioner of the Internal Revenue Service to clarify Congressional intent for various provisions of the Tax Cuts and Jobs Act (TCJA).  The members wished to provide insight on Congress’ intent to aid in the issuance…

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Beat the Summer Heat and Shop Maryland Tax-Free Week

Posted By: Marketing , August 9, 2018

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…

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199A Proposed Regulations Issued For Pass-Through Businesses

Posted By: Tax Department , August 9, 2018

On August 8th the IRS issued Proposed Regulations on the Section 199A Deduction, also known as the 20% pass-through deduction.  This was arguably the most complicated piece of the Tax Reform bill signed into law in December.  Some of the major outstanding issues the Proposed Regulations were supposed to address include: Definition of section 199A…

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New Rules Remove Requirement To Report Donors for Many Tax Exempt Organizations

Posted By: Marketing , August 2, 2018

Taxpayers who file Form 990 or 990-EZ, with the exception of organizations described under 501(c)(3), will have modified reporting on Schedule B Schedule of Contributors as a result of Revenue Procedure 2018-38 issued by the IRS.  Most tax-exempt organizations reporting Schedule B on Form 990 and 990-EZ and Part IV of Form 990-BL are no…

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