Rental Property Tax Rules: What Property Owners Should Understand
For many investors in Northern Virginia and beyond, rental real estate is an effective way to build wealth and generate income. However, rental properties come with unique tax rule [...]
Common Mistakes in Government Contractor Financial Statement Audits
Government contractors operate in a highly regulated environment where accurate financial reporting is critical. Audited financial statements are often relied upon by government ag [...]
IRS Releases Guidance on the Paid Family and Medical Leave Tax Credit
Offering paid family and medical leave (PFML) can help businesses attract and retain employees while providing workers with financial support when they need time away to care for t [...]
Good Intentions Aren’t a Defense: D&O Insurance for Nonprofits
Nonprofit leaders frequently make consequential decisions about money, people and programs. But even well-informed and well-intentioned decisions can lead to allegations of wrongdo [...]
What Higher 2026 AMT Risk may Mean for Your Year-End Tax Planning
Tax law changes taking effect this year will increase alternative minimum tax (AMT) risk for some higher-income taxpayers. If you may be affected, consider the AMT before implement [...]
Understanding the Functional Classification of your Nonprofit’s Expenses
One of the most common questions we receive from nonprofit clients is about expense classification. "Should our Executive Director's salary be program or management?" "Where do aud [...]
Maryland 2026 Tax Law Changes for Individuals: What Taxpayers Need to Know
Maryland taxpayers face several significant tax rule changes that became effective beginning with the 2025 tax year (for returns due during 2026), following legislation that was en [...]
Remote Work can Complicate your State Taxes
Working remotely may broaden your job options and make daily life easier. But working from a different state than your employer — or spending part of the year working from a second [...]
Why You May Receive an IRS Notice Even When You’ve Done Everything Right
Received an IRS Notice? It Doesn't Necessarily Mean There's a Problem. Many taxpayers assume that receiving a letter from the IRS means they owe money, made a mistake on their tax [...]
Construction Accounting Best Practices for Small Contractors
Running a successful construction business requires more than completing projects on time and within budget. As a public accountant who works with contractors, I've seen many profi [...]
Employers Must Step Carefully When it Comes to Severance
Employers often face tough staffing choices. If you decide to let someone go because of budget cuts, restructuring or other circumstances, offering severance may seem like the righ [...]
AI Doesn’t Replace Professional Judgment — Here’s Why That Matters to You
Your audit is changing. Chances are you won't notice most of it — and that's the point. Across the profession, firms are adopting AI tools to match evidence, flag exceptions, and a [...]
Corporate Volunteer Programs: Finding the Right Fit for Your Nonprofit
Volunteers can provide critical support for nonprofits, helping organizations fill important gaps and devote more resources to their missions. But recruiting and retaining enough v [...]
Give Executive Fraud Risk Your Full Attention
Occupational fraud can occur at any level of an organization. But misconduct by owners and senior executives can be particularly costly because they usually have greater authority [...]
IRS Issues Guidance on QOZ Program Changes
The Qualified Opportunity Zone (QOZ) program provides tax incentives to invest in designated low-income communities across the United States. Tax law changes enacted last year made [...]
Tax Essentials for Sole Proprietors
Many small businesses start out as sole proprietorships. This structure is simple and inexpensive to establish and maintain — and it gives the owner direct access to profits withou [...]
A QPRT May Be The Right “Home” For Your Primary Or Secondary Residence
As property values continue to rise, homeowners with large estates may be looking for ways to preserve family wealth while minimizing future estate tax exposure. One strategy that [...]
Payroll Tax Fundamentals for Small Businesses
Every time your small business pays an employee, you’re responsible for both issuing an accurate paycheck and withholding, paying and reporting an assortment of taxes. Fully unders [...]
Could the New Markets Tax Credit benefit your business?
Businesses in economically distressed communities often have difficulty obtaining capital for expansion, equipment, facilities and other investments. The New Markets Tax Credit (NM [...]
Be Tax-Smart With Your Mutual Fund Investments
Mutual funds offer an easy way to invest in a diversified portfolio compared to buying individual stocks and bonds. But the tax treatment of mutual funds isn’t so simple. How are m [...]
The Right Financial Guidance Can Help Maximize Your Business’s Potential
Financial information is the foundation for every important business decision. Whether your goal is to improve cash flow, launch a new offering, hire additional workers or expand i [...]