A new Virginia law allows the owners of a pass-through entity (PTE) to shift their income tax burden generated from the PTE away from them personally and instead to the PTE itself.
If your Maryland business is subject to unemployment insurance taxes, be aware of potential changes to your tax rate for the 2022 calendar year.
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Backlog is an important measure of the health of a construction company. Here’s what contractors need to know about backlog and how it can help (or hurt) their profitability.
Social Security and Medicare tax As of January 1, 2022, the maximum amount of annual earnings subject to Social Security increases to $147,000 (from $142,800 in 2021). There is no limit on the amount of earnings subject to the Medicare tax.
Yesterday, Maryland announced that the deadline for individual income state tax filings and payments will be extended from April 18, 2022 to July 15, 2022.
There are several accounting mistakes that government contractors make that can cause major headaches when uncovered during their federal acquisition regulation overhead audit. Here are five of the most common.