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News and Events

Archive by Year:2018

What Happens if You Can't Afford to Pay the Taxes You Owe?

Posted in News on March 30, 2018

April 17, 2018 is the tax deadline for filing for your 2017 taxes. While many taxpayers are excited about getting a refund on tax day, not everyone gets money back from the government. While you are supposed to pay your taxes as you earn income, there are some circumstances where you may end up falling short of this goal, especially if you underestimate what you're supposed to be paying. Read More

Hobby Income: The IRS Says You Must Declare It

Posted in News on February 28, 2018

Many people enjoy hobbies and sometimes those hobbies will actually end up earning them a little money. If your hobby does turn a profit, you likely will need to declare the income with the IRS. If you fail to declare the money that you made from your hobby and the IRS discovers you had earnings you didn't pay income tax on, you could find yourself facing legal trouble. A Maryland tax attorney can help you to understand the rules for declaring hobby income, deducting expenses from a hobby, and determining when your hobby becomes a business and why it matters.

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The Decline of Swiss Private Banks

Posted in Offshore Account Update on January 31, 2018

Just a decade ago, the Swiss private banking industry was thriving as people and companies from across the world were able to invest their money discreetly to hide their funds from taxing authorities. However, a lot has changed as the U.S. government and other jurisdictions throughout the world have been aggressively cracking down on tax evasion. Read More

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