Virmani CPA

Virmani CPA Our rates are affordable. We are experienced and friendly. If you are looking for a blend of personal service and expertise, you have come to the right place!

We offer a broad range of services for business owners, executives and independent professionals.

Is federal tax debt blocking you from achieving your financial goals? Unresolved tax debt can lead to interest and penal...
09/14/2026

Is federal tax debt blocking you from achieving your financial goals? Unresolved tax debt can lead to interest and penalties, tax liens, asset seizures — and even the denial or revocation of your passport. These consequences can make it difficult to move forward. The good news is relief may be just a phone call away. We can assess your situation and help you find a path forward. Contact us at (410) 461-1091 to discuss your next steps.

Beginning in 2026, employers can claim a tax credit for a portion of premiums for paid family and medical leave (PFML) i...
09/11/2026

Beginning in 2026, employers can claim a tax credit for a portion of premiums for paid family and medical leave (PFML) insurance policies, instead of for a portion of actual wages paid during employees’ PFML. Employers can choose to claim the credit for a percentage of qualifying insurance premiums paid or incurred during the tax year for active PFML coverage. The IRS has issued guidance (Notice 2026-28) that helps employers apply the premium-based method. It addresses how the premium-based method compares to the wage-based method, how to allocate the qualifying premiums, and how to elect between the premium method and the wage method. Contact us at (410) 461-1091 to learn more about tax breaks for PFML.

Tax planning requires more than preparing returns at filing time. We work with individuals and businesses throughout the...
09/09/2026

Tax planning requires more than preparing returns at filing time. We work with individuals and businesses throughout the year to identify tax-saving opportunities, address compliance requirements and respond to changing tax laws. Call us at (410) 461-1091 to schedule an appointment to discuss your tax needs.

Tax returns and financial statements are important. But you know we can do so much more, right? Think of us as your year...
09/08/2026

Tax returns and financial statements are important. But you know we can do so much more, right? Think of us as your year-round, human source of practical guidance. We can help you better understand the ups and downs of your cash flow, spot opportunities to cut costs or improve profitability, and plan for growth with greater confidence. Call us at (410) 461-1091 to learn more and get the strategic support you need to achieve your business goals.

Owning assets jointly with your adult child can invite unwelcome tax consequences that may outweigh potential benefits. ...
09/07/2026

Owning assets jointly with your adult child can invite unwelcome tax consequences that may outweigh potential benefits. For example, owning an asset together as “joint tenants with right of survivorship” can open up transfer tax exposure. If you add your child to the title of property you already own, it may be considered a taxable gift of half the property’s value. And when you die, half of the property’s value will be included in your taxable estate. A properly designed trust can be a more tax-efficient option. Call us at (410) 461-1091 for details.

Did you request an extension to file your 2025 individual federal income tax return? If so, you have until Oct. 15, 2026...
09/04/2026

Did you request an extension to file your 2025 individual federal income tax return? If so, you have until Oct. 15, 2026, to file it. But if you have the tax-filing information you need, you may want to file now. There’s no advantage to waiting until the deadline. If you owe tax, the IRS offers short- and long-term payment plans, as well as installment agreements, to taxpayers who qualify. It’s important to act quickly if you owe because any amount that was due April 15 accrues interest until the balance is paid. Call us at (410) 461-1091 if you need help filing your extended return or have questions regarding your current tax situation.

Grabbing lunch with a client doesn’t just build rapport. It can also trim your tax bill. Under federal tax law, you can ...
09/02/2026

Grabbing lunch with a client doesn’t just build rapport. It can also trim your tax bill. Under federal tax law, you can generally deduct 50% of qualifying business meal costs. Whether you're dining with clients, partners or employees, these deductions can reduce your taxable income. Keep detailed records of the expenses, including receipts. Document the business purpose of each meal and the business relationship of the people you dine with. Contact us at (410) 461-1091 with any questions about this deduction.

One of the easiest ways to reduce the size of your taxable estate is to take advantage of your gift tax annual exclusion...
09/01/2026

One of the easiest ways to reduce the size of your taxable estate is to take advantage of your gift tax annual exclusion. For 2026, you can transfer up to $19,000 per recipient gift-tax-free. And you can double the exclusion to $38,000 per recipient if you split the gifts with your spouse. But it’s critical to understand the rules of gift-splitting to avoid unintended tax consequences. To elect to split gifts, the spouse making the gift must file a gift tax return, and the other spouse must consent by checking a box on the return and signing it. Contact us at (410) 461-1091 for additional details.

Selling investments at a loss generally reduces taxes, but the wash sale rule can get in the way. If you buy the same or...
08/31/2026

Selling investments at a loss generally reduces taxes, but the wash sale rule can get in the way. If you buy the same or a “substantially identical” investment within 30 days before or after the sale, the loss may be disallowed. Fortunately, there are ways to avoid triggering the wash sale rule and still achieve your goals. Contact us at (410) 461-1091 to discuss balancing tax considerations with investment objectives.

Scholarship awards can provide significant financial relief to families of college-bound students. Most, but not all, of...
08/28/2026

Scholarship awards can provide significant financial relief to families of college-bound students. Most, but not all, of the awards are tax-free. To qualify for tax-free status, scholarships must meet three criteria: 1) The student must be a degree candidate at an eligible educational institution, 2) the award must be used to pay for tuition and fees, books, and certain supplies (not room and board or travel), and 3) the award can’t represent wages for teaching or research. Many graduate student awards have employment compensation components, so they may be taxable. Also, taxable scholarship money could potentially be subject to the “kiddie” tax. Contact us at (410) 461-1091 for more information.

Address

3450 Ellicott Center Drive
Ellicott City, MD
21043

Opening Hours

Monday 9am - 6pm
Tuesday 9am - 6pm
Wednesday 9am - 6pm
Thursday 9am - 6pm
Friday 9am - 6pm

Telephone

+14104611091

Website

Alerts

Be the first to know and let us send you an email when Virmani CPA posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Virmani CPA:

Shortcuts

Share

Category