While bookkeeping and accounting both support healthy finances and accurate financial records for businesses, they are not the same thing. Although they work together, they perform separate functions and require different skillsets. And if you want to make wise financial decisions (and avoid costly tax penalties), you need both. Bookkeeping is actually a building block […]
Going to college can be a time of growth and excitement, not to mention set you up for a productive career. But for many graduates, student loans are the college hangover that just won’t go away. Student loan debt can follow you around for most of your adult life, causing financial stress and impacting your […]
With many families seeing the economic benefit of multi-generational households, there’s another benefit you may be wondering about: tax breaks. If you support someone in your family financially, such as a parent or adult child, you may be able to claim them as a dependent even if you don’t live in the same household. The […]
Payment apps have made it easier than ever to split the bill when you go out with friends, but new rules in the tax code might add some extra complication to apps like Venmo and Zelle. You can still split the bill with friends without any tax implications, but if you receive $600 or more […]
Cryptocurrencies (also called altcoins or virtual currency) have seen some wild fluctuations in the recent past. For example, the value of a single full Bitcoin went from $10,000 to nearly $70,000 and then back down to $20,000, all within the span of two years. Some people have realized huge profits and others have lost thousands […]
If you intend on leaving assets that need to be distributed to your heirs after you pass—whenever that may be—estate planning is an incredibly valuable endeavor. This is not something to be ignored until your golden years, particularly if you have minor children. If the unthinkable happens, you want to make absolutely sure your family […]
Most taxpayers will never get audited. In 2021, the audit rate for taxpayers with income under $1 million was less than 1 percent. But tax audits have a reputation that precedes them, and getting an audit notice in the mail is enough to make a person’s blood run cold. If you’re one of the unlucky […]
Al Capone, the notorious gangster and bootlegger, knew that image is everything. His charismatic demeanor and charitable donations kept him in favor with the public, despite his violent crimes and ruthless corruption. However, no amount of charisma could ultimately save him from the IRS. The Prohibition-era crime boss was brought down and imprisoned for tax […]
Keeping up with accounting tasks can be demanding for any company or organization, but it is especially overwhelming when you run a small business and handle the bookkeeping yourself! To prevent things from getting out of hand, it’s smart to implement a foolproof system that makes sense for your company’s size, revenue, and industry, while […]
Is It Better to File a Chapter 7 or 13 Bankruptcy? The average person has little to no understanding of bankruptcy, which means there’s a steep learning curve if you need to consider bankruptcy as a solution to your financial situation.
Main Office:
Baltimore Office
SH Block Tax Services Inc
401 E. Pratt Street
Suite 2232
Baltimore, MD 21202
Columbia Office
By Appointment Only
410-989-5991
Annapolis Office
By Appointment Only
410-927-5109
South Florida Office
By Appointment Only
561-515-5904
Washington, D.C. Office
By Appointment Only
