You've been playing poker for years. You started when you were a teen, playing with your friends for fun. No money changed hands. You learned the ins and outs of the game, though, and found you were really good. Then poker blew up. It was all over the television. You...
Month: October 2017
When disaster strikes
People living in Maryland know the importance of being prepared for natural and man-made disasters. Despite one's best efforts, however, there is still often a flurry of activity as individuals and families attempt to reestablish their lives after life-changing...
Questions about new IRS rules for partnership audits
New rules for audits contained in the Bipartisan Budget Act of 2015 will become effective on Jan. 1, 2018, but officials at the Internal Revenue Service acknowledge that procedural questions still need to be settled. Business partnerships in Maryland therefore could...
Could the ‘Cohan Rule’ apply if you don’t have receipts?
If you ask any accountant or tax lawyer, accurate bookkeeping is essential to filing a complete and accurate income tax return. Keeping receipts is also important in defending oneself in the event of an audit or any other court action to collect on back taxes.Given...
Businesses should be aware of online tax software scams
There's an old saying about the two constants that everyone must deal with: death and taxes. With today's technological advancements, a third should be added...phishing scams.The term "phishing" refers to the act of a scam artist posing online as a legitimate company...