Sankofa Financial Group, LLC

Sankofa Financial Group, LLC Accounting, Tax and Wealth Management

Attention Maryland tax payers...
09/09/2026

Attention Maryland tax payers...

Maryland Tax Connect for Individual Taxpayers is now live, combining several of our state's tax systems into one modern, secure platform. We know that new systems come with learning curves and with questions so over the coming months, our agency will be hosting a series of webinars for taxpayers and tax preparers who want a closer look at how Maryland Tax Connect works or need help navigating it.

Whether you’re filing a return, checking your refund status, or managing your account for the first time, these sessions will walk you through what you need to know. Register at the link below to secure your spot!

First session:

đź“… September 23, 2026
đź•› 12:00 p.m.
đź”— MarylandComptroller.gov/IndividualTaxHub

IMPORTANT UPDATE...The IRS has changed the standard mileage rate for the 2nd half 2026.  For July - December the rate is...
08/13/2026

IMPORTANT UPDATE...

The IRS has changed the standard mileage rate for the 2nd half 2026. For July - December the rate is now $0.76/mile.

If you use the standard mileage method for your auto expense deduction, your 2026 business mileage will need be separated into two time periods.

January 1 – June 30, 2026: 72.5¢ per business mile
July 1 – December 31, 2026: 76¢ per business mile

If you currently keep only one annual mileage total, please begin tracking your mileage separately for the remainder of the year. This will help us accurately calculate your deduction and avoid delays during tax preparation.

Find standard mileage rates to calculate the deduction for using your car for business, charitable, medical or moving purposes.

08/12/2026

It’s Tax-Free Week, Maryland!

Through Saturday, you can save on clothing, footwear, backpacks, and more. For a list of all eligible items, visit MarylandComptroller.gov/programs

Don’t forget to shop local!

Hey business owners and independent contractors ... check this out!
07/15/2026

Hey business owners and independent contractors ... check this out!

IR-2025-128, Dec. 29, 2025 — The Internal Revenue Service today announced that the optional standard mileage rate for business use of automobiles will increase by 2.5 cents in 2026.

https://youtu.be/nyrHcgwMIeA?si=4W6IB1YNnC456M1lCelebrating Black History this month and every month!
02/14/2026

https://youtu.be/nyrHcgwMIeA?si=4W6IB1YNnC456M1l

Celebrating Black History this month and every month!

Located in Tulsa, Oklahoma, this residential neighborhood known as Greenwood provided an opportunity for Blacks to accumulate wealth and make advancements du...

Get ready... it's almost time to start filing your 2025 tax returns.  Call us today or visit our website to schedule you...
01/09/2026

Get ready... it's almost time to start filing your 2025 tax returns. Call us today or visit our website to schedule your appointment!

The announced Monday, January 26, 2026, as the opening of the nation’s 2026 filing season. You will have until Wednesday, April 15, 2026, to file your 2025 tax returns and pay any tax due. Don’t forget that IRS.gov has online tools and resources you can use before, during and after filing your federal tax return. For a list of filing season tools, reminders and resources, read: https://ow.ly/1yqq50XTweL

Starting Sept 30, 2025, all federal payments will be processed electronically.Executive Order 14247 entitled “Modernizin...
09/23/2025

Starting Sept 30, 2025, all federal payments will be processed electronically.

Executive Order 14247 entitled “Modernizing Payments To and From America’s Bank Account” was signed on March 25, 2025. It states that “Effective September 30, 2025, … the Secretary of the Treasury shall cease issuing paper checks for all Federal disbursements inclusive of … tax refunds”. The Order also requires all payments made to the federal government be processed electronically.

Important points to note from the Executive Order:

• No paper refund checks will be sent to taxpayers after September 30, 2025.
• All federal disbursements including tax refunds, benefit payments and vendor payments will be made electronically.
• Payments made to the federal government (e.g. tax payments) must also transition to electronic payments.
• Limited exceptions will be made available for those who do not have access banking services, certain emergency payments, or national security activities.

While no formal guidance or instructions have been issued at this time by the IRS, we recommend that taxpayers should take the following steps to ensure compliance with the new requirements

• Establish an IRS online account at www.IRS.gov
• Verify banking details for electronic deposits and payments

It is important to note that this Executive Order only applies only to federal payments. State-level payments are not impacted and will continue to follow existing procedures.

https://www.whitehouse.gov/presidential-actions/2025/03/modernizing-payments-to-and-from-americas-bank-account/?utm_source=chatgpt.com

By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:Section 1. Purpose.

Sharing this info for any senior in PG county who live in District 8 and may need assistance.   https://wjla.com/news/lo...
08/07/2025

Sharing this info for any senior in PG county who live in District 8 and may need assistance.

https://wjla.com/news/local/prince-georges-county-seniors-offered-millions-in-relief-funded-by-mgm-casino-revenue-resort-additional-revenue-maryland-dmv-seniors-retirees-benefits-taxes-housing-relief-medical-expenses?fbclid=IwY2xjawL-clpleHRuA2FlbQIxMQABHgcKqqiP-LJmBzILZlJA46y9os5QgEqEQ4fS4mjWz4NqfQxBoo97GJIVEYf7_aem_2Q2vf0T1KhlnkCM6ToHBNw

Thousands of seniors living in parts of Prince George's County can now access up to $5 million in financial relief to help with anything from mortgage, rent, pr

Address

9101 Cherry Lane, Suite 101
Laurel, MD
20708

Alerts

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

Shortcuts

Share

Category