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Rockville Location
1010 Rockville Pike, Suite 210
Rockville, MD 20852
Phone: 301-610-9966
Fax: 301-610-9965
Rockville, MD 20852
Phone: 301-610-9966
Fax: 301-610-9965
Tax Tips
Tax Tips are not a substitute for legal, accounting, tax, investment or other professional advice. Always consult with your trusted accounting advisor before acting upon any Tax Tip.
SEPTEMBER 2010 TAX TIPS
Seven Steps for Delegating Work
How to run your business more efficiently
Do you own a small business? You may feel that the success--or the failure--of the business rests entirely on your shoulders. So you try to be in all places at all times. However, in most cases, this will result in problems for the operation and decreased productivity by other workers. [continue]
Prescription for the New Health Care Credit
IRS explains rules for a qualified "small business"
The new health care legislation signed on March 23, 2010--the Patient Protection and Affordable Care Act--will dramatically alter the landscape for small-business owners in the coming years. One critical change: Beginning in 2010, a business may qualify for a special tax credit that can partially offset rising health insurance costs. [continue]
Locking in a Partial Home-sale Exclusion
Special exceptions to tax law requirements
Despite the recent nationwide real estate slump, you may realize a significant gain if you sell your home, particularly if you bought the place before prices soared in prior years. What about the tax consequences? Generally, the amount of the proceeds is subject to tax at capital gain rates. Currently, the maximum tax rate on net long-term capital gain is 15%, but rates are scheduled to increase in future years. [continue]
Should You Take the SIMPLE Approach?
Meet October 1 deadline for new plans
If you are concerned about the complexities of administering a qualified retirement plan for your small business, there is a relatively "simple" alternative to consider: the Savings Incentive Match Plan for Employees--aptly called the SIMPLE, for short. SIMPLEs have been around for almost 15 years, but are not as well known as 401(k) plans. [continue]
TAX ADVICE DISCLAIMER: In accordance with IRS Circular 230, any tax advice included in this communication, including attachments, is not intended or written to be used, and cannot be used by you or any other person or entity, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions, nor may any such advice be used to promote, market or recommend to another party any transaction or matter addressed within this communication. If you would like such advice, please contact us.
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Website by Build Your Firm, designers and developers of websites for accountants and cpa firms
Pro Finance Accounting and Tax Services is a Rockville CPA firm that provides a wide variety of accounting, tax and financial management services. Our clients are located throughout the Washington DC metro area in towns like Rockville, Bethesda, Silver Spring, Gaithersburg, Potomac, Arlington, Alexandria, Georgetown, and more. We service clients in Montgomery County Maryland.