Tax issues can be confusing. Recent tax laws regarding payments to independent contractors may add to the confusion. Knowing when to issue a 1099 to independent contractors is crucial for every business.

In most cases, businesses must report to the IRS annual payments made to any single vendor totaling $600 or more. Payments include those to individuals, LLCs, or partnerships. Generally, a business owner does not file 1099 forms for payments to S or C-Corporations. Businesses that do not comply with tax laws can face severe penalties, interest, and additional taxes.

If you are already doing business in Maryland or are considering doing so, there are many things you need to know. Whether you are a domestic company or a foreign business operating in our state, there is a great deal of information ​you need.

Are you a Maryland entrepreneur looking to start or grow your business? If so, it's important to understand the basics of business terminology. In this blog post, we'll define 15 basic terms every Maryland entrepreneur should know. By understanding these terms, you'll be able to communicate more effectively with your accountant, Maryland business lawyer, and other professionals who can help you grow your business.

You will want to get legal advice from a Maryland estate planning lawyer before making an advance directive. If you merely use a printed form, you might not receive all of the options that are available by law. Your lawyer can explain what the procedure is for making advance directives in Maryland.

When people think about what they want to leave behind to their family and friends, they might not know how a well-intentioned gift could cause problems. Just as troublesome to your survivors is a situation in which you die without valid estate planning documents. Let's discuss the 12 headaches your loved ones may face with improper estate planning. A Maryland estate planning attorney could help prepare your documents so you avoid these common estate planning mistakes.

Probate is the legal process of transferring assets to heirs and beneficiaries after a person’s death. Many people view a revocable living trust as a way to avoid probate. However, there are several pros and cons of creating a revocable living trust. Therefore, before deciding to create a revocable living trust, it is wise to discuss your estate planning goals and needs with a Maryland trust attorney.

Thinking about the end of your life is never pleasant. However, estate planning is the best way to take care of the ones you love after you are no longer with them. Our Maryland estate planning attorney helps you develop a plan that protects your assets during your lifetime and ensures your wishes are carried out after your death.

There comes a time when elderly parents may need assistance with their finances. They may need assistance paying bills, making financial decisions, and managing assets. Many families assume it is sufficient to add children to their parents' bank accounts. However, there could be other matters to consider. Before transferring assets or creating joint accounts, it is best to talk with a Maryland estate planning attorney.

There comes a time when elderly parents may need assistance with their finances. They may need assistance paying bills, making financial decisions, and managing assets. Many families assume it is sufficient to add children to their parents' bank accounts. However, there could be other matters to consider. Before transferring assets or creating joint accounts, it is best to talk with a Maryland estate planning attorney.

Most single adults do not think too much about life decisions related to estate planning. They may believe that estate planning is something they will do once they are married. However, estate planning is essential for singles and unmarried partners. Without an estate plan, your partner may be locked out of important decisions about your health care and your estate.

Medicare is a federal health care plan for seniors. Individuals become eligible to enroll in Medicare when they reach 65 years of age. Medicare is also available for individuals who can no longer work because of a disability. Unlike Medicaid, Medicare is not a needs-based health care plan. However, that does not mean you should not include Medicare planning when discussing your estate planning goals with our Maryland estate planning attorney.

Protecting assets from creditors is a priority during your life and after your death. Using trusts is one of the most common ways to accomplish both of these goals. A Standalone Retirement Trust might be a good option for your estate planning needs. Our Maryland estate planning attorney can help you choose the trust that offers the highest level of asset protection.

A Limited Liability Company (LLC) is a popular business structure for many small businesses throughout Maryland. LLCs offer many of the benefits of a sole proprietorship or partnership with the liability protection of a corporation.

Most spouses leave everything to their surviving spouse in their Will. Therefore, when spouses die simultaneously and there is no surviving spouse, there becomes an issue of who inherits the combined estates.

The Maryland Business Express is a valuable free resource that our state provides to help entrepreneurs plan, start, and manage their businesses. You can find useful information whether you want to start or grow a home-based business, buy an existing business or franchise, or open a branch office in Maryland for your out-of-state business.

When you form a partnership, limited liability company (LLC), or any other business arrangement, your contract will have several key statements that directly outline the responsibilities and limitations of every member in the group.

In a way, your partnership contract will be the constitution for your company. It’s imperative that your contract includes five important clauses to protect yourself and ensure your future entity runs smoothly as you hire a Maryland contracts attorney and draw up the documents for your partnership.

Frequently asked questions about business taxes in Maryland could easily fill many pages, but we will try to cover some of the most common topics here. Business owners often ask about shipping and handling charges, tax exemptions, and resale certificates, by way of example.

A Maryland business tax attorney can answer your specific questions and help you stay in compliance with our state and federal tax regulations. Here are a few Maryland business tax FAQs.

You can use life insurance to fund your estate planning goals for your family, your business, and your charitable giving. Different kinds of life insurance coverage can provide options that can protect what is important to you.

Members of a limited liability company in Maryland enjoy certain financial protections, the most important of which is that people cannot sue them and take their personal assets, such as their home or bank accounts, to satisfy judgments against the limited liability corporation. As with many legal concepts, however, there are exceptions to this general rule.

Small businesses need to invest time in developing contracts they use for their business. Contracts protect the business in case of disputes and lawsuits. A Maryland contracts attorney assists small business owners in negotiating contracts, drafting terms and conditions, and representing the company when there is a dispute or breach of contract.