News & Blog

Maryland Enacts Small Business Credit

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A new, refundable income tax credit is available for Maryland small businesses that have 14 or fewer employees. The business must employ at least one “qualified employee” to claim the credit.
The credit is available for the 2018 tax year and beyond.

Qualified Employees

To be considered a “qualified employee,” an individual must:

be employed by the small business;
earn wages that are no more than 250% of the federal poverty guidelines for a single-person household; and
earn paid sick and safe leave under Maryland law.


Amount of Credit

The […]

2nd Quarter 2018 Tax News

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This special edition Q2 2018 Tax Letter is full of investing and planning strategies that can help you with ongoing financial management and tax planning.  It contains information on:

Tax Planning under the Tax Cut and Jobs Act of 2017

Patience is prudent
Know your true tax rate
Rethinking retirement contributions
Regard Roth conversions carefully
Are state and local taxes reasons for relocation?
Positive prognosis for medical deductions
Home equity hassle
New tax deduction for pass-through entities
Tax calendar


CPA Client Tax Letter Q2 2018 from TRS CPA Group CPA 

Click to Read […]

DLLR Updates on MD Sick and Safe Leave

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MD Healthy Working Families Act

We are happy to share important updates and information provided by the State of Maryland Department of Labor, Licensing, and Regulation (DLLR) about the new Maryland Sick and Safe Leave.

Maryland Sick and Safe Leave Initial Guidance

This article is for MD employers and employees and lays out some initial guidance regarding the new HB1. This outlines what you need to know about this new legislation. It also provides a dedicated email address to which any questions or comments should be directed.

Download and/or Print the full PDF below  

Click to Download


A Primer on HB1 Compliance

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Today we are sharing with you an article written by Fiona W. Ong, Co-chair, Maryland Chamber of Commerce Labor and Employment Committee. Please click the button below to open and download the full article regarding HB1.

“On January 12, 2018, the Maryland General Assembly overrode Governor Hogan’s veto of 2017’s mandatory paid leave law, House Bill 1. Therefore, Maryland employers are now required to provide paid leave to employees. As of now, per state legislative guidelines, this law will take effect on February 11, 2018, though the Maryland Chamber plans to request an extension.”

The article covers […]

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