To File your Individual Tax Return
Tax & Advisory Specialists
Rosenthal Accounting is a tax preparation and consulting firm focused on providing the highest quality of tax and business advice to individuals and their businesses.
We have successfully provided our clients with sophisticated tax planning and business advice which has allowed them to achieve financial success in their personal and business lives.
News & Publications
Cybersecurity Investment Incentive Tax Credit
The purpose of this new program is to incentivize and attract cybersecurity companies to startup in or move to Maryland; and to attract investment to cybersecurity companies in order to help them grow, create jobs and retain intellectual property in Maryland.
The qualified company receives a credit equal to 33% of an eligible investment in the QMCC. A QMCC is limited to $250,000 for each investor
Foreign bank accountant and assets reporting requirement
If you are a U.S. person and holds an account or signature authority over an account located outside of the United States; and the total value of all foreign financial accounts exceeded $10,000 at any time during the calendar year reported, you must report your accounts on FBAR by June 30.
Taxpayers with specified foreign financial assets that exceed $50,000 on the last day of the tax year or $75,000 at any time during the tax year (MFJ more than $100,000, .) must report those assets to the IRS on Form 8938,
Buying or leasing a car
With both purchased and leased cars, you can choose to deduct either the standard mileage rate , parking fees and tolls or the actual expenses .
For the purchased car, you can deduct the business percentage of your interest expense on the loan. And, you can deduct its cost over 5 years (aka depreciation) . However, if the car worth more than $16,000 it consider “luxury” car and there is a limit on the annual amount you can deduct.
(Due to these limits, it could take 12 years to depreciate all of the cost of the car).
If you lease a car, the car is not yours; you can deduct the business percentage of your lease payments. There is also a limit on the amount you can deduct each car, but it’s minimal compare to the purchase car option. ( “lease inclusion amount” )
As the price goes up on the car, leasing usually becomes more preferable.
Individual Tax Preparation
Business Tax Preparation
U.S. Expatriate Tax Preparation
Mr. Udi M.
I have been customer of Rosenthal Accounting at 3th times for my Tax and I'm glad with their quickly service . The great job and good price. Thank you and I appreciate it.
Mr. Ido A.