Endow Maryland Tax Credit Info

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Endow MD Tax Credit

The information for Endow Maryland tax credit is up on the Community Foundation website

The basics are that MD residents (individuals and businesses) are eligible for a 25% tax credit on their MD State Income Tax in 2015 if they make a gift to a qualified fund at a MD Community Foundation. Because the credits are limited to $15,000 total for CFES, we have identified our Community Needs Funds as the “qualified funds”.

There are two ways to participate:

1) By making a gift of $500-$2000 to an existing Community Needs Fund, OR
2) Establishing a new […]

Tax Summary Dec 2014

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Special Tax Report December 2014

Please check out this Special Report from December 16, 2014. Tax Increase Prevention Act of 2014 / ABLE Act/Omnibus Funding Agreement. Find out recent news and events and how these code changes and extenders will impact your tax situation.


Over 50 Extenders
More Than 500 Code Changes
State and Local Sales Tax Deductions Extended
Mortgage Debt Forgiveness Exclusion Extended
50% Bonus Depreciation Extended
Research Tax Credit Available for 2014
Many Energy Incentives Renewed
Tax-Favored Accounts for Individuals with Disabilities
Inflation-Adjustments for Civil Penalties
FY 2015 Budget Cut for IRS


Click to Read […]

December 2014 Newsletter

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Mountain Climber in snow

This newsletter is full of ideas and suggestions that can help you with ongoing financial management and tax planning.  It contains information on:

Deferred Income Annuities
Global Funds vs. International Funds
Accumulating Assets
Tax Calendar


CPA Client Newsletter December 2014 TR&S CPA 

Click to Read!

This CPA Client Tax Letter is provided by Twilley, Rommel & Stephens P.A.  to its clients through an arrangement with the AICPA, which holds the copyright to the CPA Client Tax Letter and reserves all rights. Permission is required for any further redistribution or reuse […]

Tax Planning Season

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Twilley, Rommel & Stephens, PA
P.O. Box 766, Salisbury, MD 21803
Phone: 410.749.1919 Fax: 410.548.5039
Dear Clients and Friends,

Tax planning season is once again upon us and, as seems to be the case these days, we may not know the final regulations for 2014 until 2014 is over. Part of our service to you is keeping you up to date with current tax legislation and helping you make timely decisions to take advantage of legislation or avoid ramifications if necessary. After reading this […]

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