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Tax Considerations for Maryland Attorneys Who Become Partners
In addition to the many professional and personal requirements that come with achieving partner status, the individual federal, Maryland, and other state tax requirements and filings will now require additional time and attention. It becomes the responsibility of each partner to report his/her share of income and pay his/her corresponding federal, Maryland and other state income taxes. This publication will discuss how these changes and growing complexities affect tax considerations for attorneys who become partners.
This article focuses on federal income tax requirements and Maryland and other state income tax requirements.
Jerry Rosenberg and Judy Lasley helped us set up the right business structure and continue to get us through the maze of government contracting regulations we face everyday.
Shirley Wayne | Co-Owner
SW Associates, LLC