Montgomery Community Media

Many of the tax changes affecting individuals and businesses for 2016 were related to the Protecting Americans from Tax Hikes Act of 2015 (PATH) that modified or made permanent numerous tax breaks (the so-called “tax extenders”). To further complicate matters, some provisions were only extended through 2016 and are set to expire at the end […]

Whether you’ve just started a nonprofit, recently submitted your organization’s first Form 990, or are the executive director, it’s important not to lose sight of your obligations under federal and state tax laws. From annual filing and reporting requirements to taxes on business income and payroll compliance, here’s a quick look at what nonprofits need […]

There are many reasons to sell a business. Maybe you’re in ill health or ready to retire. Or you’re tired of working all the time and now that the business is profitable you’re ready to cash in. Whatever the reason, selling a small to medium sized business is a complex venture and many business owners […]

Are you one of the millions of Americans who hasn’t filed (or even started) your taxes yet? With the April 18 tax filing deadline quickly approaching, here is some last minute tax advice for you. Stop Procrastinating. Resist the temptation to put off your taxes until the very last minute. It takes time to prepare […]

It’s tax day! Here are five more things to know today, April 15, in Montgomery County: 1. E-cigarette Tax: The County Council is considering an excise tax on e-cigarettes. 2. Free Range Parenting: The Meitivs vow to fight; read their latest statement here. 3. Health Warning: State officials are warning consumers of lead issues in […]

There are some storms in our forecast for later today, so don’t forget your umbrella. Here are five more things to know today, April 10, in Montgomery County: 1. Tax Talk: Maryland Comptroller Peter Franchot has released a list of people and businesses who he says owe thousands of dollars in back taxes and penalties. […]

Residents of Montgomery County earning less than $53,000 a year qualify for free income tax preparation through the Volunteer Income Tax Assistance (VITA) program. While appointments are taken at various locations throughout Montgomery County, several agencies are joining together to host Super VITA Tax Day in Gaithersburg, an opportunity for residents to get free tax […]

If your fridge is on the fritz or furnace putting up a fight, this is the weekend to replace it. Consumers will get a break from the state’s six percent sales tax on qualifying Energy Star products from February 14-16. During Shop Maryland Energy weekend, the following Energy Star products are tax free: Air conditioners Washers […]

The Startup Maryland bus was in Bethesda the same day Texas Governor Rick Perry was in town. The co-founder of Startup Maryland has a message for the Texas Governor in this MyMCMedia extra:  

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) today (Aug. 29) ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes. The ruling applies regardless of whether the couple lives in a jurisdiction that recognizes same-sex marriage or a jurisdiction […]