IRS Ruling Allows Company To Match Employees' Student Loan Payments Into Their 401(k)

A recent ruling by the IRS allows employers to link their employees’ 401(k) contributions, under certain circumstances, to student loan repayments (SLR) being made to an outside plan.

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MD Sales Tax-Free Shopping Week 2018

Maryland’s Comptroller’s office has announced that from Sunday, August 12th through Saturday, August 18th the state will be running its Shop Maryland Tax-Free Week. 

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Update of 2018 Standard Mileage Rates- Notice 2018-42

The IRS just recently posted updates regarding changes to the use of the standard mileage rates, as well as increased depreciation limits for automobiles.  Although the business standard mileage rate remains at 54.5 cents per mile, new amendments have been made as a result of the recent suspension of all miscellaneous itemized deductions (announced under Trump’s Tax Cuts and Jobs Act) that are subject to the 2% of AGI floor.  This suspension applies to the taxable years beginning after December 31, 2017, and before January 1, 2026.

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The Cultural Alliance of Greater Washington has worked with Bormel, Grice & Huyett, P.A., since 1988. Their knowledge of the arts and the arts community make their services invaluable. They can translate accounting terminology into a comprehensive language. For many organizations, the accounting firm of Bormel, Grice & Huyett provides the financial "information bridge." We whole-heartedly recommend Bormel, Grice & Huyett, excellent accountants who care about our arts organizations.
Jennifer Cover Payne, Executive Director, Cultural Alliance of Greater Washington

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