Vm Tax & Financial Services Llc

Vm Tax & Financial Services Llc No annoying tax professional lingo. Just straight, authoritative and friendly expert advice. We are professional, experienced, and affordable.

VM Tax and Financial Services LLC is licensed in MD and specializes in Accounting. We offer a broad range of services for business owners, executives, and independent professionals.

The IRS has released its 2026–2027 per diem rates for certain business travel expenses, effective Oct. 1, 2026. Under th...
10/09/2026

The IRS has released its 2026–2027 per diem rates for certain business travel expenses, effective Oct. 1, 2026. Under the high-low substantiation method, the rate for lodging, meals and incidental expenses for travel to high-cost localities within the continental United States (CONUS) rises to $329 per day, from $319. The rate for other CONUS localities rises to $230, from $225. The portion attributable to meals remains $86 for high-cost areas and $74 for other areas. The incidental-expenses-only rate remains $5. Employers can pay more than the IRS per diem rates, but excess amounts generally must be substantiated or treated as taxable wages. Contact us to learn about all your options for substantiating business travel expenses.

With more tax law changes taking effect this year, don’t wait to talk with us until it’s time to prepare your 2026 tax r...
10/07/2026

With more tax law changes taking effect this year, don’t wait to talk with us until it’s time to prepare your 2026 tax return next year. By then, it will be too late to implement most tax strategies that could reduce your April 15, 2027, tax bill (or increase your refund). Let’s review your situation now. Call us today.

Did you celebrate your 73rd birthday in 2026? If you have money in an IRA, 401(k), SEP or SIMPLE plan, you generally mus...
10/05/2026

Did you celebrate your 73rd birthday in 2026? If you have money in an IRA, 401(k), SEP or SIMPLE plan, you generally must take your first required minimum distribution (RMD) by this Dec. 31 (or, potentially, by April 1 of next year). RMDs are annual withdrawals of specified amounts based on your age and the account’s value at the end of the last tax year.

If you’re responsible for collecting, accounting for or remitting federal taxes withheld from employee paychecks, beware...
10/02/2026

If you’re responsible for collecting, accounting for or remitting federal taxes withheld from employee paychecks, beware of the trust fund recovery penalty (TFRP). As a responsible individual, you may be personally liable for a 100% penalty on income and employment taxes your business either fails to collect or fails to remit to the IRS. Your actions must be “willful,” meaning you’ve been, or should have been, aware of the responsibility and either intentionally disregarded the law or were indifferent to it. According to the IRS, no “evil intent or bad motive” is required. Call us if you receive a letter from the IRS about the TFRP or for help with tax compliance.

There are several benefits to having an estate plan. It can protect your wealth while giving you peace of mind that your...
09/30/2026

There are several benefits to having an estate plan. It can protect your wealth while giving you peace of mind that your assets will be distributed according to your intentions. In addition, it can save taxes, minimize legal complications and family disputes, and reduce expenses for your heirs. Do you have young children? An estate plan is a must so you can name guardians for them in the event of your untimely death. If you’re ready to begin your estate planning journey, or if you’d like us to review your current plan, contact us today.

As a small business owner, it’s easy to think of a succession plan as involving only two people: you and your successor....
09/28/2026

As a small business owner, it’s easy to think of a succession plan as involving only two people: you and your successor. But a smooth transition may also require support from managers and other key employees. Communicating thoughtfully about your intentions and progress can help build confidence, reduce uncertainty and keep the business moving forward. Contact us for help addressing the tax, financial and strategic aspects of your plan.

Wondering how Sec. 530A accounts (also known as Trump Accounts) may be invested? The IRS has issued proposed regulations...
09/25/2026

Wondering how Sec. 530A accounts (also known as Trump Accounts) may be invested? The IRS has issued proposed regulations clarifying the investment options allowed during the “growth period.” This period begins when the beneficiary’s initial account is established and ends on Dec. 31 of the year the child turns 17. During this time, eligible investments generally include mutual funds or exchange-traded funds that track an equity index of mainly U.S. companies, don’t use leverage, and have annual fees and expenses of no more than 0.1% of the fund’s balance. The proposed regulations would apply to tax years starting on or after Jan. 1, 2026. Call us with questions.

You probably have retirement questions: How much should I save before I quit working? When should I start taking Social ...
09/23/2026

You probably have retirement questions: How much should I save before I quit working? When should I start taking Social Security benefits? Can I retire before Medicare coverage kicks in? What about taxes in retirement? We can provide you with answers based on your individual financial circumstances and retirement goals. Contact us today.

Static budgets can quickly fall out of sync with reality in today’s volatile markets. Rolling forecasts offer a smarter,...
09/21/2026

Static budgets can quickly fall out of sync with reality in today’s volatile markets. Rolling forecasts offer a smarter, more flexible approach, updating your projections throughout the year to reflect real-time changes in your business, industry and market. They complement your annual budget and help you make better decisions, faster. Want to improve your forecasting and budgeting? Let’s talk. Call us today.

The Financial Crimes Enforcement Network (FinCEN) is making permanent the suspension of the beneficial ownership informa...
09/18/2026

The Financial Crimes Enforcement Network (FinCEN) is making permanent the suspension of the beneficial ownership information (BOI) reporting requirements for U.S. companies and U.S. persons. If these Corporate Transparency Act requirements had gone into effect, millions of U.S. businesses would have faced the administrative burden of an initial BOI filing and subsequent updates for any BOI changes. FinCEN will also delete previously reported information it believes belongs to U.S. persons (such as information linked to U.S. driver’s licenses and U.S. passports). Foreign entities that are reporting companies must still report BOI for foreign individuals. Call us if you have questions.

Address

1314 Bedford Avenue
Pikesville, MD
21208

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Website

Alerts

Be the first to know and let us send you an email when Vm Tax & Financial Services Llc 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 Vm Tax & Financial Services Llc:

Shortcuts

Share

Category