Search form

Home
Pause

Experienced. Innovative. Trusted.
You can count on Bormel, Grice, & Huyett.

Explore Our Services

Bormel, Grice, & Huyett, P.A. (BGH) is a professional, full-service accounting and financial management firm with a reputation built on responsiveness, integrity, and commitment to quality. As our clients' trusted advisors, we combine proven experience with the latest management techniques and technology to help our clients grow their businesses. Learn more

Specialized Industries

Recent News

See more News | Read our Blog

IRS Provides Tax Inflation Adjustments for Tax Year 2020

Last week, the IRS announced the new annual inflation adjustments for over sixty tax provisions for the year 2020.  It is important to note that the tax year 2020 adjustments are generally used on tax returns filed in 2021.

401(k) Contribution Limit Increases

401(k) contribution limit increases to $19,500 for 2020; catch-up limit rises to $6,500.

The IRS announced today that the annual contribution limit for employees who participate in 401(k) plans will increase from $19,000 to $19,500 in 2020.

How the R&D Credit Can Help New Companies Offset Payroll Taxes

According to the Protecting Americans from Tax Hikes (PATH) Act of 2015, new businesses or start-up companies that are eligible to receive research & development (R&D) credit can elect to offset employer portion of social security payroll tax liability.  The maximum benefit an eligible company can claim against payroll taxes is $250,000 for up to five years.  This payroll offset allows companies to receive a benefit for research activities even if they aren't profitable.

Maryland Income Tax Alert - Guidance for Sales and Use Tax Collection Requirements

The Comptroller of Maryland has provided a Tax Alert regarding the sales and use tax collection requirements applicable to marketplace facilitators and sellers.  Under the new law effective October 1, 2019, marketplace facilitators must collect Maryland sales and use tax on a retail sale or sale for use by a marketplace seller to a buyer in Maryland. A marketplace seller is not required to collect sales and use tax if the marketplace facilitator collects the sales and use tax.

Certifications / Associations