Category Archives: Announcements

2021 Year-End Tax Planning for Business Clients


With year-end approaching, it is time to start thinking about moves that may help lower your business’s taxes for this year and next. This year’s planning is more challenging than usual due to the uncertainty surrounding pending legislation that could increase corporate tax rates plus the top rates on both…  
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2021 Year-End Planning for Our Individual Tax Clients


With year-end approaching, it is time to start thinking about moves that may help lower your tax bill for this year and next. This year’s planning is more challenging than usual due to the uncertainty surrounding pending legislation that could, among other things, increase top rates on both ordinary income…  
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From FBLA to Youngest Shareholder in Local Accounting Firm


new partner Elizabeth Renna

Who knew winning 1st Place in MD State FBLA (Future Business Leaders of America) Competition (1998) as a senior in high school would lead to a career as a CPA and at just age 41 becoming a shareholder in the firm (July 2021)? Graduating from Perryville High School, Elizabeth Renna…  
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PPP Round 2 Applications are Now Available!!


If your business qualifies and you have any intention of considering one, we urge you to act quickly. Make sure your bank will participate in the second round PPP process; some banks are not. If not, make other arrangements NOW. Businesses who have not previously received a PPP loan can…  
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Governor Larry Hogan Issues Executive Order to Waive Charging of COVID-19 Unemployment Insurance Benefits to Employers


Contributory Employers’ 2021 Tax Rates Calculated Using Pre-Pandemic Experience Rating BALTIMORE, MD (December 10, 2020) – Governor Larry Hogan today issued an Executive Order that waives the charging of COVID-19 unemployment insurance benefits to employers. This Executive Order prevents Maryland’s contributory employers from having their experience rating negatively impacted because…  
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PPP Loan Extension of Time passed by Congress


The Payroll Protection Program loans have been a cornerstone of small business relief. The program was to expire for applications not submitted by midnight on June 30. However, in the past two days BOTH houses of Congress have passed a bill that the President is expected to sign, extending the…  
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#COVID-19 #Business Relief #Grants available from Harford County


Harford County, MD has federally funded grants available, thanks to federal funding, to help businesses impacted by the Covid-19 pandemic and related shutdowns.  There are three separate grant programs available: #SmallBusiness relief Grants – up to $7,500 to eligible small businesses with between 2 and 50 full time equivalent employees…  
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Wide Ranging Impact of Recent Tax Legislation Passed


On December 20, 2019 President Trump signed into law a continuing appropriations bill. But this piece of legislation did far more than merely keep the government open; it included significant tax law changes. In particular, a number of tax “extenders” were retroactively passed, and the most significant change to retirement…  
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Important Message to Clients Regarding Windows 10 and QuickBooks


TO OUR CLIENTS: As of January 4, 2020, Microsoft will no longer provide security updates or support for PCs running Windows 7 and Windows Server 2008. This means that computers running on Windows 7 will be more vulnerable to security risks and viruses. To avoid these risks, Microsoft recommends upgrading…  
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Join Us for a Fundraiser to Support STEM Programs


Wine on the Water fundraiser for NMTC's support of STEM programs

Balsamo, Stewart, Lutters & Ruth is a member of NMTC, and fully supports the efforts of that organization to provide funding to STEM programs in area schools. You are invited to join us for Wine on the Water, to be held September 15 from 5 to 9 PM at LaBanque…  
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