When Do I Need to File a Non-resident Tax Return?

When Do I Need to File a Non-resident Tax Return?

Individuals who work or live in Maryland are typically subject to state taxes based on their residency status. Therefore, your residency status can have a significant impact on whether you owe state income taxes. If Maryland demands you file a tax return and pay state income taxes even though you were not a resident, contact a Maryland tax attorney to discuss your options for challenging the state’s claim of residency.

Parents of Special Needs Children – 5 Estate-Planning Tools That Don’t Risk Your Child’s Benefits

Parents of Special Needs Children – 5 Estate-Planning Tools That Don’t Risk Your Child’s Benefits

Estate planning for parents is a crucial step in providing for the future care of a special needs child, especially if parents want to avoid risking their child’s benefits. A child receiving public assistance or disability benefits could lose those benefits if they inherit large sums of money or property. With careful estate planning, parents can provide for the financial needs of their child while keeping their benefits intact. 

[Announcement] Free Personal Estate-Planning Inventory App

Everyone needs estate-planning in one form or another, regardless of your age or stage in life. Part of any estate-plan includes a personal inventory. This is never an easy task, even for the most organized person.

Keep Track of Your Important Details and Assets Easily and Securely

I’ve taken the guesswork out of the process by creating a Free Personal Estate-Planning Inventory App that will enable you to quickly and easily add your:

  • Personal information

  • Family information

  • Physical Assets

  • Digital Assets

  • Accomplishments

  • Funeral/Celebration of Life Requests

and more…

All of your data is stored and transmitted securely. As long as you keep your password protected, your data is secure.

Online or Offline Storage

Create your personal inventory all at once, or as you have time, with the convenient “Save and Return” feature. When you’re done, create a hard-copy by printing out and keeping with your other important documents, or saving a copy to your hard drive or cloud service.

Easy Updates

The Free Personal Estate-Planning Inventory App allows you to easily update your inventory any time you buy or sell assets, go through a divorce, death or birth, or change your mind about your end-of-life wishes.

Estate-Planning Made Easy

Your personal estate-planning inventory can serve as the starting-point for the creation of your will, or trust, or in determining what other estate-planning tools are appropriate for you and your family. You’ve worked hard to get where you are. Protect that investment, and your family, by creating your personal estate-planning inventory today.

NOTE: The act of creating an account, logging into an account, or creating a personal estate-planning inventory does not create an attorney-client relationship. Thienel Law is not responsible for the data entered or the reports produced by this application. Read full disclaimer here.

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Is Your Business Attractive to Hackers? Learn the Facts to Protect Your Company

Is Your Business Attractive to Hackers? Learn the Facts to Protect Your Company

According to the 2019 Data Breach Investigations Report by Verizon, no business is too small or too large to be a victim of hackers and data breaches. Information of all types has a value. Your business need not have access to millions of dollars to be an attractive target for hackers. That you store personal information gathered from your customers can make you attractive to a hacker who wants to sell that data to identity thieves. Therefore, all business should assume they are attractive to a hacker. 

14 Things You Should Know About the ABLE Act

14 Things You Should Know About the ABLE Act

An important element of estate planning is planning for the future of a person with special needs. There are several tools a family can use to protect a loved one. One of the newest special needs estate-planning tools that many families are discussing with their Maryland estate-planning attorney is the ABLE account. If you have never considered an ABLE account, you may want to discuss one with your lawyer.

5 Key Elements for Your NDAs

5 Key Elements for Your NDAs

Businesses and companies use NDAs or Non-Disclosure Agreements to protect confidential information.  However, if an NDA does not contain certain elements, it may not be legally enforceable. A Maryland business attorney can help you ensure that you include all key elements in your company’s NDA to make the agreement effective and enforceable. Below are five key elements that a business should include in its NDAs. 

Entrepreneurs - The Ultimate Legal Resource Guide for Start-Ups in 2019

Entrepreneurs - The Ultimate Legal Resource Guide for Start-Ups in 2019

Starting a new business is exciting. You have an idea for a service or a product you are convinced consumers want. Before offering your product or service to consumers, certain practical and legal considerations must be addressed to protect your business interests and your personal interests. The decisions you make while setting up your new business venture have a significant impact on many short-term and long-term matters and issues.

Top 5 Trusts and When to Use Them

Top 5 Trusts and When to Use Them

Maryland law provides many options to create a trust as part of your estate plan. Depending on your situation, one or more trusts may be in your best interests. Trusts are complex documents that can have life-long effects for you and your beneficiaries, so care must be taken in choosing and drafting your trusts. A Maryland estate-planning attorney can work with you to help you decide which type of trust or trusts best meet your needs. 

How to Disinherit Someone — and Why You Shouldn't

How to Disinherit Someone — and Why You Shouldn't

People in Maryland can write practically whatever terms they want in their wills, but that does not mean the probate courts will honor those terms. Let's say that you want to leave nothing to the person who would ordinarily inherit a portion of your estate. You might be angry at the person, or you might have agreed, for example, with your spouse, that they will take nothing under your will. Take it from a Maryland estate-planning attorney—this may not be entirely legal.

Going Broke from Estimated Tax Penalties? Five Tips to Keep You Out of Hot Water with the IRS

Going Broke from Estimated Tax Penalties? Five Tips to Keep You Out of Hot Water with the IRS

For taxpayers who do not pay taxes throughout the year or underpay, they may face a large tax penalty when they file their tax returns. If you are going broke paying estimated tax penalties, working with a Maryland tax attorney to identify problems with your estimated tax payments could help eliminate those penalties.

Pro Tips for Reviewing Contracts

Pro Tips for Reviewing Contracts

At work, you may deal with leases, employment contracts, vendor agreements, non-disclosure agreements, and partnership agreements. If you need to review a contract, these seven pro tips from our experienced Maryland business attorney can help you cut through some of the legalese to identify the key terms contained in the contract.

[VIDEO] Start-Ups 101 - 5 Reasons Every Start-Up Should Use a Fractional General Counsel

[VIDEO] Start-Ups 101 - 5 Reasons Every Start-Up Should Use a Fractional General Counsel

The Fractional General Counsel Model utilizes an up-front fee structure customized to meet the needs of your particular business. This model is particularly beneficial for start-ups, who may not have the budget to hire a full-time counsel, but want to ensure their investment is protected. Check out our latest video on why more start-ups are using fractional general counsel.

[VIDEO] Estate-Planning 101 - Top 5 Estate-Planning Questions Answered

[VIDEO] Estate-Planning 101 - Top 5 Estate-Planning Questions Answered

Estate-planning can be an overwhelming process to consider. However, with a little knowledge, you can have your estate-plan prepared in no time, leaving you with one less thing hanging over your head. In this video, Steve Thienel answers the top 5 estate-planning questions people ask every day.

Did the Tax Cuts and Jobs Act Kill My Boat Deduction?

Did the Tax Cuts and Jobs Act Kill My Boat Deduction?

The deductions you may take for interest on your boat loan has changed somewhat since the Tax Cuts and Jobs Act (TCJA), but the deductions have not been eliminated. Below is a brief discussion from Maryland tax attorney, Steve Thienel, of some changes in the tax reform bill that impacts interest deductions for a boat. If you follow the current rules in the Tax Cuts and Jobs Act, you may still benefit from certain deductions.

Non-Solicitations vs. Non-Competes - Do you Know the Differences?

Non-Solicitations vs. Non-Competes - Do you Know the Differences?

Non-solicitation and non-compete agreements are used by many employers to protect an employer from an employee actively competing for business after the employee leaves the company. Even though the agreements may be similar, the agreements cover different aspects of an employee’s actions after terminating the employment relationship. Non-solicitation and non-compete agreements are typically included in an employment contract and remain in force after the employment relationship ends.

Income Tax Planning for Musicians

Income Tax Planning for Musicians

As a musician, you have expenses that are unique to your industry. Utilizing the tax deductions available for musicians is essential to reducing your tax liability. This is especially true since some of the deductions musicians may have used in past tax years were eliminated with the passage of the Tax Cuts and Jobs Act.

In this article, we discuss several of the unique income tax planning issues for musicians and how musicians can take advantage of tax laws to reduce income tax liability.

Two Ways to Save Thousands with the Home Office Deduction

Two Ways to Save Thousands with the Home Office Deduction

Business owners who use a portion of their home for business may benefit from using the home office deduction when preparing their income taxes. Claiming a deduction for a home office often reduces tax liability. However, the IRS has strict guidelines for claiming a home office deduction on your tax return. A Maryland tax attorney can help you determine if you can claim a home office deduction and the best way to maximize tax benefits for this deduction.