As with most of the tax changes under the Tax Cuts and Jobs Act (TCJA), the changes to the deductibility of qualified parking expenses is not as simple as it proclaims to be. But don’t worry, I’m here to help you break down the new tax law to determine what you need to do for […]
The S corporation business structure offers many advantages, including limited liability for owners and no double taxation (at least at the federal level). But not all businesses are eligible – and, with the new 21% flat income tax rate that now applies to C corporations, S corps may not be quite as attractive as they […]
The Good: Recognition of hard work, extended weekend, football is back.The Bad: “End” of Summer, hot dog season and wearing white.Happy Labor Day weekend everyone from your friends at Squire, Lemkin + Company!
When a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs. If when filing your 2017 income tax return you found that your business had an NOL, there is an upside: tax benefits. But beware — the Tax Cuts and Jobs Act (TCJA) makes some significant changes to the tax treatment […]
For a variety of estate planning and asset management purposes, many affluent families hold their assets in trusts, family investment vehicles or charitable foundations. If assets held in this manner include interests in hedge funds, private equity funds or other “unregistered” securities, it’s important to ensure that the entity is qualified to hold such investments. […]
Are you a high-income small-business owner who doesn’t currently have a tax-advantaged retirement plan set up for yourself? A Simplified Employee Pension (SEP) may be just what you need, and now may be a great time to establish one. A SEP has high contribution limits and is simple to set up. Best of all, there’s […]
Two valuable depreciation-related tax breaks can potentially reduce your 2017 taxes if you acquire and place in service qualifying assets by the end of the tax year. Tax reform could enhance these breaks, so you’ll want to keep an eye on legislative developments as you plan your asset purchases. Section 179 expensing Sec. 179 expensing […]
Squire, Lemkin + Company LLP seeks to hire graduates and senior accounting students interested in putting their knowledge to work in a professional and nurturing environment. These associates will be assigned responsibilities assisting in audit engagements, preparing corporate and personal income tax returns, participating in income and estate tax planning, and working on special business […]
In this May issue of GAIN+, read about “IRS Warns of Email Phising and Pervasive Telephone Scams”.
Squire, Lemkin + Company, LLP is a Rockville, MD accounting firm providing audit, tax, accounting and not-for-profit consulting services to companies across the East Coast. Our firm has expertise in not-for-profit Organizations, Entrepreneurial Businesses, Professional Service Firms, High Net Worth Individuals, Estates and Trusts, Employee Benefit Plans and Individual Tax Returns.
We serve clients from our office Rockville, MD. We serve the Maryland, Virginia and Washington, D.C. metropolitan area.