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- Financial Planning
- Tax Preparation
2025 Maryland Tax Increases
May 27, 2025
As you have no doubt heard, the Maryland General Assembly enacted significant tax reforms as part of the FY 2026 budget to address a projected $3 billion deficit. These changes, effective beginning in tax year 2025, aim to modernize the tax code, increase revenue, and shift the tax burden toward higher-income earners and specific industries…. -
- Accounting
- Tax Preparation
2025 Tax Filing Season
February 3, 2025
Another year is behind us and another tax filing season is at hand. In the coming weeks you will be receiving your tax documents from various sources. Not much has changed in this regard. But there are a few tax issues that clients should be aware of: Tax Changes For tax year 2024 there are… -
- Accounting
SECURE 2.0 Act and Quirky Retirement Contributions
January 13, 2025
As every year, allowable retirement contributions have been increased for 2025. Specifically these are the increased maximum contributions: 401(k), 403(b), and Governmental 457 Plans Individual Retirement Accounts (IRAs) The above standards seem simple enough and are more or less in line with prior year increases and amounts. But because retirement plan qualifications, limitations, lingo, etc… -
- Accounting
Is a Mega Back Door Roth Right for You?
January 7, 2025
The Mega Backdoor Roth: A Strategy for High-Income Savers Buckle in for this one because it’s a bit confusing and requires certain plan elements for you to even be eligible. But for high-income earners looking to maximize retirement savings, the Mega Backdoor Roth IRA is a powerful, albeit lesser-known, strategy. This savings technique allows individuals…
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