January 3, 2014
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.
This article was originally posted on January 3, 2014 and the information may no longer be current. For questions, please contact GRF CPAs & Advisors at email@example.com.