Articles & Industry News

Industry News

A Night At The Races!

BSLR is sponsoring the NMTC Wine tasting event on 9/16/2015. Stop by and see Margaret and Angela at our wine pouring station. To register for the event go to

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Congratulations to Beth on Becoming a CPA!

Elizabeth Renna, a senior manager at Balsamo, Stewart, Lutters & Ruth, P.A. of Bel Air, has passed the Certified Public Accountant exam to become a licensed CPA in Maryland. She has been with the firm since its inception in 2008.

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Very Important Tax Information: 1099 Filing Requirements

To Our Clients: The IRS is on the lookout for noncompliant taxpayers and emphasizing the Form 1099 filing requirements that include not only payments for services provided by unincorporated businesses, but also rent, interest, dividends, and royalty payments. Specifically, the

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2010 Year End Payroll News (Including the New Tax Act)

Tax Relief Unemployment Insurance Reauthorization and Job Creation Act of 2010 Significant provisions for payroll administration: The employee Social Security tax rate for wages paid in 2011 has been reduced from 6.2% to 4.2%.  The Social Security wage base remains

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New IRS Reporting Rules for Foreign Accounts

The Foreign Account Tax Compliance Act (FATCA) is part of the Hiring Incentives to Restore Employment (HIRE) Act and is effective for tax years beginning after March 18, 2010. It affects U.S. taxpayers with foreign accounts and assets. This act

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The H.I.R.E. Act Takes Effect

In March, 2010 the Hiring Incentives program to Restore Employment Act (H.I.R.E.) was signed.  The purpose of the Act is to provide companies with a temporary tax break to help stimulate the recovering economy.  This act has two key provisions:

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