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Welcome to the Iwanczuk & Associates CPA Firm's
Columbia, Maryland Online Resource Tax Library

Iwanczuk & Associates is a Certified Public Accounting firm located near Columbia, MD servicing the greater Washington, DC metropolitan area and surrounding communities. Our CPA practice believes in providing tools to help our clients grow and achieve success. Our Online Resource Library is a comprehensive planning center that offers practical solutions and accessible, user-friendly tools. Please bookmark this page and come back for our Tip of the Day and Video of the Week, both of which cover topics that affect individuals and businesses alike, including taxes, business strategies, personal finance, accounting and a myriad of other issues. We hope you benefit from these valuable and timely resources.

The accounting professionals at Iwanczuk & Associates provide outsourced CFO services, tax services and strategic planning for individuals and businesses, GAAP compliant financial statements (reviews and compilations), payroll accounting, estate, gift and trust tax return preparation, cash flow analysis and forecasting, and business consulting. If you have any questions about these or any other accounting, tax, compliance or finance issues, please visit us online at www.iwanczukcpas.com or call us at (301) 362-3262.

Tip of The Day

Clean hard drives before junking computers.  If you're donating a computer or even just throwing it in the trash, make sure you scrub the hard drive before doing so.

Chances are there iss plenty of sensitive material on it. That could include financial information about you and/or your company, credit card numbers, etc. More than enough information to enable someone to steal your identity.

Just erasing the hard drive isn't good enough. You should format the drive to insure that information is not recoverable. If you're not sure of what to do, ask a computer technician. Alternatively, take the drive out of the machine and destroy it.

A charitable contribution may be more trouble than it's worth. Unless the unit is a higher-end machine and/or relatively new, any tax savings could be minimal.

Cartoon of The Day

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Timely Opportunities

Estate Tax Update: Here We Go Again

For more than a decade, the federal estate and gift tax rules have been changing and next year will be no different. A tax law passed in 2010 established estate and gift tax rules that will expire on January 1, 2013. To add more uncertainty, the upcoming presidential election is likely to have a large effect on what eventually happens. This article explains the rules as they stand now, as well as what might happen next year.
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Compliance with the FCPA: Is Insurance a Good Idea?

Enforcement of the Foreign Corrupt Practices Act (FCPA), which prohibits bribing foreign government officials to obtain or retain business, has become a bigger priority for federal agencies. Investigations of possible violations can be extremely costly. In response, insurance companies have introduced policies that cover the third-party costs of corporate internal investigations. Are these policies a good idea? This article discusses this new type of insurance as well as other considerations involving FCPA compliance.
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Answers to Questions about Dealing with the IRS

Now that tax filing season is over, it's a good time to answer some questions about IRS practices and procedures. Dealing with the federal tax agency and the complex Internal Revenue Code can make for some frustrating encounters. Here are 16 Q&As that explain some of the issues taxpayers may face including how long it takes to receive a refund, what kind of property the IRS can seize if taxes aren't paid, why returns are chosen for audit and more.
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Jobs Act: The SEC Releases Q&A Guidance

The JOBS Act, signed into law in early April, provides a new way for businesses to attract investors and raise money. The law allows a qualified business to use "crowdfunding" to seek cash from investors on the Internet. Here are the basics of the law, along with some recently issued guidance from the SEC about which businesses qualify as "emerging growth companies" under the law.
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Trend: Employment Lawsuits Based on Obesity Discrimination

The problem of obesity in the United States has been well documented. The impact is being felt in the workplace with the EEOC reporting that weight discrimination has become almost as common as bias based on race, gender or age. What protections do employees have? This article answers that question, along with details of some recent cases of employment weight discrimination.
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Tax Records: What Can You Throw Away?

Get out the paper shredder! Once you meet the April 17 federal deadline and file your tax return, you can clear away some of the paperwork cluttering up your files. But save essential records that can protect you during an IRS audit -- or help you collect a future refund. Click "Full Article" for a handy reference guide to the business and personal tax records you need to retain -- and how long you should keep them.
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False Advertising: FTC Cracks Down on Fake News Websites

Businesses want their marketing and advertising to be innovative. But some innovations go beyond the law, as illustrated by the recent Federal Trade Commission (FTC) crackdown on fake Internet news websites set up to tout products. Recently, the FTC reached settlements with several website operators with sites that appeared to be legitimate news organizations but were really just advertisements for their acai berry products. Here are the details of the cases, along with some important considerations in advertising.
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Tax Deadline: 8 Tips to Save Time, Money and Hassle

This year's federal tax filing deadline of Tuesday, April 17 is fast approaching. Here are eight tips to help save you time, money and problems with the IRS. The tips cover a variety of situations for all types of taxpayers, including those who already filed, those who are planning to file extensions and those who are waiting until the last minute to send in their returns.
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Iwanczuk & Associates PC | Maple Lawn, MD | All Rights Reserved.
Iwanczuk & Associates is a CPA firm located outside of Columbia MD servicing the greater Washington DC metropolitan area and surrounding communities in Howard County, including Maple Lawn MD, Columbia MD, Scaggsville MD, Simpsonville MD, Clarksville MD, Highland MD, Savage-Guilford MD, North Laurel MD, Burtonsville MD, West Laurel MD, Fulton MD, Jessup MD, Russett MD, Maryland City MD, Cloverly MD, Spencerville MD, Fairland MD, Colesville MD, Ashton MD, Sandy Spring MD, Dayton MD, Brookeville MD, Olney MD, Benson MD, Dorsey MD, Ellicott City MD, Hanover MD, Severn MD, Arlington County MD, and the greater Washington, DC metropolitan area. We provide outsourced CFO services, tax services and strategic planning for individuals and businesses, GAAP compliant financial statements (reviews and compilations), payroll accounting, estate, gift and trust tax return preparation, cash flow analysis and forecasting, and business consulting. Visit us online at www.iwanczukcpas.com or call us at (301) 362-3262.

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