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Archive for the ‘ Blog ’ Category

Proposed Federal Estate and Gift Tax Legislation 2021

Wednesday, April 28th, 2021

“There’s no trick to being a humorist when you have the entire government working for you.” —Will Rogers   Will Rogers may have had it right. Below is an update of the effects of the Democrat controlled House, Senate and… Read More

Maryland Sales Tax on Digital Products

Thursday, March 11th, 2021

The effects of Maryland’s 21st Century Economy Fairness Act will soon be felt by vendors and consumers of “digital products” in Maryland. This new law, effective March 14, 2021, is catching many by surprise as the bill was vetoed by… Read More

COVID-Related Paid Sick Leave Employer Tax Credit Extended to March 31, 2021

Wednesday, February 3rd, 2021

We have previously provided information on the Families First Coronavirus Relief Act (FFCRA) passed by Congress last March. While the FFCRA, effective April 1, 2020, expired by its own terms on December 31, 2020, one aspect of the act has… Read More

U.S. Department of Labor Updates Tip Regulations under the FLSA

Wednesday, December 30th, 2020

This week, the U.S. Department of Labor (DOL) published a final rule altering its regulations concerning tipped employees. If your business falls in an industry where tipping is customary, you will want to be acquainted with this change. By way… Read More

PPP Loans and Tax Deductibility of Expenses.

Tuesday, December 22nd, 2020

Pending congressional legislation (the Consolidated Appropriations Act, 2021) would make expenses paid with forgiven PPP loans tax deductible. Although it was always clear that forgiveness of a PPP loan would not be treated as taxable income, the IRS has taken… Read More

Baltimore City now accepting Grant Applications for Restaurants to cover COVID related expenses.

Saturday, November 14th, 2020

Beginning November 12th, 2020 Baltimore City is accepting applications for grant funds to Restaurants to cover COVID-related expenses. The maximum grant amount available is $50,000 and the program itself will award up to $6,500,000 in total funds. Grants are awarded… Read More

Paycheck Protection Program Forgiveness Reminder

Monday, September 28th, 2020

Just a reminder, the 24-week period to apply for forgiveness is beginning to expire for early recipients of PPP funding. Be sure to review your forgiveness application deadline (count the weeks that have passed since your PPP funding) and contact… Read More

Thomas & Libowitz attorneys named for inclusion in the Best Lawyers in America for 2021.

Wednesday, August 26th, 2020

Five Thomas & Libowitz attorneys were named for inclusion in the 2021 Edition of The Best Lawyers in America. C. Wayne Davis for Corporate Law Steven A. Thomas for Commercial Litigation and Corporate Law Charles B. Jones for Trusts and… Read More

What will happen with the federal estate tax in a season of uncertain political events?

Thursday, August 20th, 2020

There is no doubt we live in strange times.  As tax and business advisors, we are all asking what is the likelihood of the Senate of the White House going Democratic?  And if there is a wholesale turnover, what happens… Read More

IRS releases its dirty dozen scam list for 2020.

Monday, July 27th, 2020

The IRS has released its annual “dirty dozen” list of scams for which taxpayers should keep an eye out. https://www.irs.gov/newsroom/https://www.irs.gov/newsroom/dirty-dozendirty-dozen