Naden Lean

Maryland CPA firm. Healthcare and Dental accounting, non-profit audits, tax preparation, bookkeeping, computer networks maintenance, and management consulting.

[Naden Lean @nadenlean]

Thank you for your services and sacrifice during this difficult time.

[Naden Lean @nadenlean]

Maryland businesses affected by COVID-19 can apply for the Layoff Aversion Fund. It's designed to help offset the costs of helping employees work from home, liability insurance, on-site sanitation, and more. For more info and to apply, click here: https://t.co/LmbCdOBQ0V

[Naden Lean @nadenlean]

This site has information on 3 programs for small businesses affected by COVID-19:

Emergency Relief Loan Fund
Emergency Relief Grant Fund
Emergency Relief Manufacturing Fund

#MD #CommerceDept #localhelp

https://t.co/nfkY6yVNkA

[Naden Lean @nadenlean]

In the wake of the COVID-19 outbreak, Maryland has taken advance steps to help taxpayers. Our overview of local tax relief measures, along with guidance on the proposed federal legislation, is available here:

https://t.co/CdoEDRrqh8

[Naden Lean @nadenlean]

❗❗ Maryland delayed its tax filing deadline until 6/1 for businesses w/ sales & use, withholding, admissions & amusement taxes, as well as alcohol, tobacco and motor fuel excise taxes, tire recycling fee and bay restoration fee returns. More info: https://t.co/Ge78gpSwrG

[Naden Lean @nadenlean]

What makes a tax deduction beneficial? There are many factors to consider, and the tax benefits differ for each individual, depending on his or her particular situation. From Bruce Caulk's blog, an overview of how to value tax deductions:

https://t.co/YifJJZxbSo

[Naden Lean @nadenlean]

Hackers aren’t just targeting individuals; small businesses are among the biggest targets for #fraud. And almost half don’t think they’re big enough to be targeted. It's not a good combination.

Small Business, Big Fraud Target

https://t.co/5J38lcQbBm

[Naden Lean @nadenlean]

Whether through fraudulent emails, fake phone calls, or hacking into computer or connected systems, it seems like there is a never-ending stream of #cyberattacks in the news. New on the N/L CPAs blog, 6 types of #fraud and how to protect against attacks.

https://t.co/rB9OpZ8ODA

[Naden Lean @nadenlean]

New on the N/L CPAs blog, here are five types of red flags that are more likely to make the #IRS look twice at your return in 2020, and how to avoid grabbing too much attention.

https://t.co/AoYn44dNqH

[Naden Lean @nadenlean]

529 college savings plans aren't only useful for the kids. They're also valuable tax tools for older generations -- you can contribute up to 5x the annual gift exclusion limit to a 529, tax-free. This and other uses of 529 plans: https://t.co/8alSR69eu9

[Naden Lean @nadenlean]

March is right around the corner! These are the important business #tax due dates to circle on your calendar. March 2nd, 16th, and 31st are all deadlines for various businesses to file annual and/or informational returns.

https://t.co/VxPMiFRsbN

[Naden Lean @nadenlean]

There are some tax and reporting changes that self-employed individuals and business owners can expect in 2020, like with Forms 1099, a higher chance of an audit, self-employment tax, and tax withholding. Read more on Naden/Lean's blog: https://t.co/FpzdCcOLPp

[Naden Lean @nadenlean]

Depending on your age, #RMDs aren't required until 72 thanks to the #SECUREAct. Check w/ your CPA or financial advisor if you're unsure.

[Kiplinger @Kiplinger]

Don't Panic If You're Turning 70½ This Year and Get an RMD Statement in the Mail https://t.co/vn8mPLr0ML

[Naden Lean @nadenlean]

At the end of 2019, a massive #tax and spending bill contained many extenders, like the medical deduction. Before you file your taxes, read this on Bruce Caulk's blog. https://t.co/4Kz1dfQyrF

[Naden Lean @nadenlean]

There were many #MD tax updates in 2019, like new #tax rates, an updated formula for single sales factor apportionment, a new 25% tax credit, and the #Retirement Tax Reduction Act of 2020. Read the full article on the #NadenLean blog for details. https://t.co/KAWPCZFdga

[Naden Lean @nadenlean]

Big changes to #retirement funding came out of Washington last month. Read about the SECURE Act on our blog and how it will impact almost everyone with savings in a 401(k), IRA, or other retirement plans.

https://t.co/4wu7brLJBL

[Naden Lean @nadenlean]

Year-end tax changes included some new, revised, and retroactive deductions. Among them, the medical threshold was lowered in 2019/2020 to 7.5%. Here's how to capture the most medical deductions possible, from Bruce Caulk's blog. #MDcpa #taxplanning2020 https://t.co/wtpy3xMiEB

[IRSnews @IRSnews]

#IRS will begin accepting and processing 2019 tax returns on Jan. 27, 2020: https://t.co/qXsBGhhipa

[Naden Lean @nadenlean]

Late last year, Congress passed several tax changes, including retirement plan issues now effective in 2020, plus extensions of expired or soon-to-end tax provisions. Here is a run-down on some of the changes affecting individual tax returns:
https://t.co/DrWDpICjAZ

[Naden Lean @nadenlean]

What IRS changes are in store for self-employed taxpayers in 2020? A new Form 1099, new W-4, more IRS scrutiny, and more. Get caught up on Naden/Lean's blog: https://t.co/xdQGFJRlA4

#2020taxplanning #MDcpa #businessowners