Blog

How Long Should You Keep Tax Records?

A common question for Maryland tax attorneys is, “How long should I keep my tax returns?”  Some do not expect or what to hear my answer. While many tax professionals, even the IRS, suggest it's safe to discard tax documents 3 to 6 years after...

read more

Income and Salary to an S-Corp Owner

Owners of s-corporations are quickly introduced to complex tax issues.  An s-corporation has "flow-through taxation".  This means the s-corporation itself usually pays no income taxes for its income, but its stockholders do.  The s-corporation...

read more

Forming An Irrevocable Life Insurance Trust (ILIT)

If your family will likely incur estate taxes upon your death or want to protect your family after you’re gone, would will want to consider setting up an irrevocable life insurance trust (ILIT).  An ILIT provides a way to pass on wealth without...

read more

Commercial Leases – Drafting and Review

Locating a property or a tenant for leasing can be a very time-consuming process, so it’s understandable that parties often rush to get the lease signed; however, having a good lease agreement that's been drafted and reviewed by an attorney can be...

read more

Not Having a Will in Maryland

Many wonder what happens if you die without a Will. Each state, including Maryland, has its own laws that determine what happens to the person’s estate. The differences between each state’s laws do cause confusion, and your assumptions about...

read more