When its tax time, reducing your tax liability means making sure that you have received all your credits and deductions. Many individuals are concerned about itemizing deductions,...
Starting your business is a big deal. You came up with the idea, found the funding that will get it off the ground, and are excited to get going. But before you can open the doors,...
Saving for retirement is a great financial decision. It allows you to build up a nice nest egg so that you can live comfortably and have money, outside of your social security benefits,...
Many tax payers choose to contribute each year to their health savings accounts. This allows them to have money for those expensive medical bills as they get older. But once you turn...
All income is taxable unless a law specifically says it isn’t. Here are some basic rules you should know to help you file an accurate tax return:Taxable income. Taxable income...
Posted by Salter Elite Consulting on 02/16/2016
Medical expenses can be deducted from your federal tax return as much as they exceed 10% of your annual gross income. Most people are aware of the common medical expenses...
Planning for outbound transactions...
Posted by The Accounting and Tax on 02/11/2016
College is one of the largest expenses one will incur during their lifetime. With college tuitions rising steadily each year, and enrollment seeing a huge increase in the last...
You’ve scheduled your appointment with Professional Accounting Services, Inc. in Owing Mills, Maryland, and you are ready to get started! But where do you start? Besides...