by PSA CPA | Jul 1, 2025 |
Understanding Estate Tax Planning: Why It Matters More Than You Think When it comes to planning for the future, most people focus on retirement or investments. But what happens to your wealth after you’re gone? If you’re a Maryland resident—or own assets in the...
by PSA CPA | Jun 3, 2025 |
Education is a valuable investment, and for Marylanders, managing its costs efficiently is key. While often associated with saving for a child’s future college, the Maryland College Investment Plan (MCIP) offers powerful, flexible strategies for adults looking...
by PSA CPA | Mar 1, 2025 |
Social Security benefits play a vital role in retirement planning for many Americans, providing financial stability during their later years. However, a common question arises: Are Social Security benefits taxable? The answer depends on several factors, including...
by PSA CPA | Mar 1, 2025 |
When Should You Expect Your W-2? By law, employers must send out IRS Form W-2, Wage and Tax Statement, by January 31. If you had multiple employers during the tax year, you should receive a separate W-2 from each one. This essential tax document reports your total...
by PSA CPA | Mar 1, 2025 |
Unemployment benefits can serve as a financial lifeline for those facing unexpected job loss. If you received unemployment compensation for the first time in 2024, you might be wondering how it impacts your taxes. Since unemployment income is taxable at the federal...
by PSA CPA | Mar 1, 2025 |
Every business must file taxes, but knowing how to leverage business tax write-offs can significantly reduce your tax liability. Business tax write-offs allow companies to deduct qualifying expenses incurred during operations, ultimately lowering taxable income....
It’s interesting to see how Social Security benefits are taxed differently depending on income and location. I didn’t realize only…