Last week, the Supreme Court of the United State of America issued a significant ruling in favor of Maryland taxpayers. In the case of Comptroller of the Treasury of Maryland v. Wynne et ux., the Court ruled thattaxpayers must be…
How Great a Tax Burden Do Maryland Businesses and Individuals Bear Marylands Department of Business & Economic Development (which tries to bring more businesses into the state) claims that the states tax climate is advantageous to businesses. According to the…
The end of the year approaches. Extended school vacations are just around the corner and department store parking lots will soon be full. As part of your personal, financial life, you should also consider some year-end work as well. Here…
U.S. citizens and residents are required to report all of their worldwide income. In addition, taxpayers are required to report information regarding their foreign bank accounts and foreign owned assets. In recent years, the IRS has been enforcing these laws…
A taxpayer with income from an out-of-state S-corporation often has to pay out-of-state taxes. The taxpayer's home state usually gives the taxpayer a tax credit for those tax payments. But, that is not quite what happens in Maryland. The constitutionality…
For families saving for college529 Plans are extremely popular. These allow families to invest savings without taxation, as long as the proceeds are used for their children's education. Though 529 plan contributions are not federally deductible, Maryland allows state tax…
A recent report by the Government Accountability Office stated that 83,000 Defense Department employees or contractors owed more than $730 million in unpaid taxes. Although not paying taxes does not prevent an individual from obtaining a security clearance, these individuals…
