Governments in recent years have developed some ingenious ways of financing huge real estate projects without having to front the money for it. One such method is so-called “ground lease financing” arrangements, in which private companies pay for the construction and then lease the improvements back to the government for…
File your tax returns. A week from now will be too late. It can be cumbersome, stressful and certainly annoying. But it’s one of those things in life. Do it and be done with it. Some added incentives to filing: A. Avoid costly consequences Did you know the IRS late-filing…
Politics aside (because, let’s face it, it’s all about our own, bottom-line individual/household budgets), let’s look at the impact of yesterday’s tax legislation. As with everything in life, there is good news and bad news. The federal fiscal plunge may not be as steep, but it doesn’t mean there isn’t…
In this economy, many small businesses continue to struggle just to stay afloat and, out of desperation, find means of shuffling business funds around to pay immediately due bills and put off paying others. Some business owners have used employment tax withholding to use the government as a bank to…
As tax defense attorneys and former IRS prosecutors, we are very experienced in resolving Maryland and federal tax problems. One of the common issues we encounter involve the failure to pay Maryland sales and use tax. I. Applicable Statutes and Case-Law Section 11-102(a) of the Tax-General Article, Annotated Code of…
Many businesses approach classifying workers as a tax strategy: classify someone who performs services for you as an employee, and the employer must withhold federal income taxes, withhold and pay social security and Medicare taxes, and pay unemployment tax on wages paid to an employee. Classify that same worker as…