Be Accounting & Tax Services

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Eligibility for Achieving a Better Life Experience (ABLE) accounts has expanded to individuals whose blindness or disabi...
10/12/2026

Eligibility for Achieving a Better Life Experience (ABLE) accounts has expanded to individuals whose blindness or disability began before age 46. Until this year, the blindness or disability had to have begun before age 26. As a result, many people who weren’t previously eligible can benefit from these accounts beginning in 2026. ABLE accounts offer tax-advantaged savings for qualified disability expenses. The 2026 contribution limit is generally $20,000. In some cases, 529 plan funds can be rolled over tax-free to ABLE accounts, counting toward the annual limit. Call us at (844) 934-5697 to learn more.

If you’re responsible for collecting, accounting for or remitting federal taxes withheld from employee paychecks, beware...
10/09/2026

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 at (844) 934-5697 if you receive a letter from the IRS about the TFRP or for help with tax compliance.

Accurate financial records are essential for your company’s success. However, many small business owners struggle with a...
10/07/2026

Accurate financial records are essential for your company’s success. However, many small business owners struggle with accounting and bookkeeping tasks. We can handle these chores for you, so you can focus on running your business. Call us at (844) 934-5697 to schedule a consultation.

We’re more than just tax and accounting professionals. We’re your partners in business growth. Beyond preparing your tax...
10/06/2026

We’re more than just tax and accounting professionals. We’re your partners in business growth. Beyond preparing your tax returns and keeping your books in order, we can help you improve cash flow, safely plan for expansion and make smarter financial decisions. Let’s talk about how our advisory services can strengthen your strategic planning, streamline operations, and uncover new opportunities for long-term growth and success. Call us today at (844) 934-5697 to schedule a consultation.

Many 401(k) plans have “vesting schedules,” or timelines for when certain employer matching contributions become yours. ...
10/05/2026

Many 401(k) plans have “vesting schedules,” or timelines for when certain employer matching contributions become yours. So before you switch jobs, make sure you know what percentage of your retirement savings is vested. Some plans vest immediately, but others take several years to fully vest. If you leave before matching funds have vested, you may forfeit some or all of your current employer’s matches. Contact us at (844) 934-5697 for help with retirement planning as your career progresses.

If you’re sending money abroad, beware of a possible 1% excise tax. This new tax generally applies to transfers of cash,...
10/02/2026

If you’re sending money abroad, beware of a possible 1% excise tax. This new tax generally applies to transfers of cash, money orders or cashier’s checks from U.S. senders to foreign recipients via certain remittance transfer providers such as Western Union and MoneyGram. But transfers made via credit or debit card, bank account transfer, or digital wallet aren’t subject to the excise tax. Essentially, the tax doesn’t apply to transfers from accounts in financial institutions subject to Bank Secrecy Act requirements or to credit or debit cards issued in the U.S. So to avoid the extra expense, consider using a card or ACH transfer from your own bank account. Contact us at (844) 934-5697 to learn more.

Donating artwork, antiques, collectibles or other tangible personal property that has appreciated in value can produce v...
09/30/2026

Donating artwork, antiques, collectibles or other tangible personal property that has appreciated in value can produce very different tax results depending on the charity’s use of the item. If the use directly supports the organization’s mission — such as an antique donated to a museum for its collection — you may be able to deduct fair market value. But if the item will be used for another purpose, such as being sold at a fundraising auction, your deduction may be limited to what you originally paid for it. Contact us at (844) 934-5697 before making a donation to discuss your potential deduction and the applicable substantiation requirements.

You probably have retirement questions: How much should I save before I quit working? When should I start taking Social ...
09/29/2026

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 at (844) 934-5697.

Business owners: Should you use cash to pay federal tax debt or keep it for operational needs? Paying the IRS sooner may...
09/28/2026

Business owners: Should you use cash to pay federal tax debt or keep it for operational needs? Paying the IRS sooner may ease stress and reduce penalties, but draining cash can disrupt operations, payroll and growth. There’s no one-size-fits-all answer. In many cases, the IRS offers options — such as installment agreements, temporary collection holds or penalty relief — that may help you stay compliant while preserving cash flow. The biggest risk is choosing extremes, either depleting cash reserves or ignoring the issue. A balanced strategy often works best. Call us at (844) 934-5697. We can review your options and help you create a 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 at (844) 934-5697 with questions.

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Silver Spring, MD
20910

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