Bormel, Grice & Huyett P.A.

01/26/2026

IRS updates for 2026 business mileage rate are here. Make sure your mileage deductions and reimbursements are up to date. Read more: https://wix.to/ZFZjbbD

Beginning January 1, 2026, the standard milage rates for the use of car, van, pickup or panel truck is as follows: • 72.5 cents per mile driven for business use, up 2.5 cents from 2025 • 20.5 cents per mile driven for medical purposes (or moving purposes for qualified active-duty military member...

01/13/2026

USPS changed how postmarks are applied — and that could affect your tax return filing date. Our latest post explains why mail may now be postmarked at regional processing centers (or not at all) and what that means for deadlines and proof of timely mailing. Read more: https://wix.to/M40kKcy

The United States Postal Service (USPS) has finalized a new ruling that formally clarifies how postmarks are applied. Historically, taxpayers assumed that mail dropped off at a local post office would receive a postmark that same day and at that specific location. Under the new clarification, postma...

12/16/2025

Have you heard about the Maryland Budget Reconciliation and Financing Act of 2025? It introduces several significant changes! Read more here: https://wix.to/ejRYB6S

The Maryland Budget Reconciliation and Financing Act of 2025 (BRFA) is a comprehensive bill that introduced several significant changes to Maryland’s tax laws. The new act will apply to tax years beginning after December 31, 2024. Below are some of the changes that will affect taxpayers: New Capit...

11/25/2025

Maryland employers, are you aware of the $300 annual report filing fee waiver? All you need to do is participate in the MarylandSaves program! Make sure to complete this before the December 31 deadline. Read more: https://wix.to/vcYyTVf

In September of 2022, MarylandSaves was launched by The Maryland Small Business Retirement Savings Program, which was authorized by House Bill 1378 in 2016. The program requires most Maryland employers to offer their employees some sort of retirement savings. Participation in MarylandSaves or anothe...

10/24/2025

2025 marks a significant change in the way charitable donations will affect your tax strategy. The One Big Beautiful Bill Act allows you to deduct the full amount of your donations (if you itemize), which means more savings for you! Ready to make a difference? Check out the details here: https://wix.to/LCjOhWT

The One Big Beautiful Bill Act (OBBBA), will affect tax strategies for the future, one of which is how charitable donations are treated. If charitable giving is part of your plan, 2025 is the year to act. Making donations before the new rules kick in could mean a bigger impact for your favorite caus...

07/17/2025

The Maryland Budget for 2025 is officially signed by the Governor! Effective July 1, 2025, this new legislation will impact your finances. Read more about it here: https://wix.to/tBEOAfE

Effective July 1, 2025, and applicable to taxable years beginning after Dec. 31, 2024, the budget legislation created two new individual income tax brackets increasing the top marginal rate from 5.75% to 6.5%. Single tax filers with income between $250,001 and $500,000 will remain subject to the tax...

07/09/2025

On July 4, 2025, a monumental decision was made when President Trump signed the One Big Beautiful Bill Act, a sweeping $3.8 trillion reconciliation package. Discover the key tax provisions that might affect you! Read more here: https://wix.to/fmmatsV

On July 4th, 2025, President Trump signed the “One Big Beautiful Bill Act” (OBBB), a sweeping $3.8 trillion reconciliation package that includes a broad array of tax provisions affecting individuals, businesses, and international taxpayers. We want to highlight key provisions that may affect you...

06/23/2025

Celebrating excellence in education! 🎓 Stephanie Green of Bormel Grice and Huyett presents the 2025 Business Scholarship Awards to deserving graduates. 🌟 https://wix.to/VWWl49h Chamber

Stephanie Green of Bormel Grice and Huyett, a former graduate from Hammond High School, presented three Central Maryland Chamber Educational Foundation awards at Hammond’s senior awards ceremony. The Foundation was established in 1982 to support education in the Baltimore Washington corridor area....

05/13/2025

Do you know anyone who may be a good fit? We are consistently named a Top 100 accounting firm by Accounting Today.

Provide staff level support in corporate, partnership, and individual tax compliance, specifically in the preparation and review of federal and state income returns, with clear understanding of the underlying numbers and mechanics of the tax return.

02/01/2025

When was the last time you checked on your beneficiary designations? It's essential to review them before significant life events like a birth, death, or divorce. Stay prepared and informed! Read more here: https://wix.to/AYwFOvY

12/30/2024

Important updates on the Corporate Transparency Act and Beneficial Ownership Information requirements are here! Don't miss out on understanding how these changes may impact your business. Read the full blog post now! https://wix.to/EQQ3x67

12/11/2024

NEWSFLASH: Update on the Corporate Transparency Act (ACT) and the Beneficial Ownership Information (BOI) requirement

Check out my blog post https://wix.to/AbuTUg1