Archive for Category: Taxes

So when are my taxes due?

Recognizing that the current tax season continues to be a tough time for many people due to the unusual circumstances related to the COVID pandemic, the IRS announced last week that the tax deadline for individual taxpayers was automatically extended from April 15, 2021 to May 17, 2021. This...

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Maryland Deadline Extension

Maryland announced yesterday an extension of the tax income filing deadline for individuals, pass-through entities, fiduciary, and corporate income tax returns that would have been due March 15 or April 15, 2021. This extension also includes the deadline for the first and second quarter estimated payments that are now...

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Stay on Track with Your Business Taxes

Failure to pay business taxes punctually or accurately is usually due to inadequate preparation. The following daily, weekly, and monthly tasks will help you keep your finances in order and avoid paying tax penalties: Daily Accounting Responsibilities 1.     Check Account Balances Check your business bank account and credit card...

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501(c)(13) Cemeteries: A Primer

As Benjamin Franklin’s famously noted, nothing in life is guaranteed except for death and taxes. While this is largely true, there is an IRS classification that allows certain cemetery businesses exemption from taxes. 501(c)(13) status is available to nonprofit mutual cemetery companies and nonprofit incorporated cemetery companies. The Internal...

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