Out and About
Mark Pryor, Supervisor, will discuss the accounting industry as part of the career awareness series at the Kogod School of Business at American University with the Greater Washington Society of CPAs.
October 29, 2009
We will sponsor a lunch and learn seminar about year-end tax planning strategies. Member Phil Philips and Senior Manager Ric Nelson will present the seminar, which will be held at the BWI Airport Marriott in Baltimore. To register, please click here.
November 1, 2009
We are a sponsor of the Acumen Solutions Race for a Cause 8K in Arlington. The race will benefit several charities in the Washington, D.C., area. Click here to register or learn more.
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Please feel free to e-mail us feedback or topic suggestions for future updates.
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 Is It Time to Check Your Tax Accounting Method?
 Are you currently an accrual-basis taxpayer who is eligible to use the cash method? Are you currently a cash-basis taxpayer who may be required to change to the accrual method? As the tax year for calendar year-end businesses has only a couple of months remaining, answering questions such as these is important for assessing a company's tax situation for 2009 and 2010. Learn more about the factors that determine which accounting method you should use by clicking here. |
Reduce Your Tax Bite With These Credits
 From energy credits to historic rehabilitation credits, there are numerous tax savings opportunities for businesses and individuals this year. Did you know that your business can receive a tax credit for hiring a new employee who's between the ages of 18 and 39? As a homeowner, you're also eligible for tax credits for installing certain energy improving systems, like new exterior doors and windows.
Click here to read our full article about current tax credits.
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Rising Unemployment Costs Could Impact Indirect Rate Costs
When planning indirect rate budgets for 2010 to submit to the DCAA, government contractors will need to consider the increasing unemployment taxes in Maryland and Virginia. Rising unemployment rates decreased the two states' unemployment trust funds, resulting in the increase.
According to the Washington Business Journal, Maryland's unemployment insurance taxes are set to rise from an annual minimum of $51 per employee to $187 per employee, while Virginia will increase from $95 to $171. Reports showed Virginia with a 6.5 percent unemployment rate in August 2009, while Maryland reported 7.1 percent the same month.
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Stay Tuned for Watkins Meegan's New Look
We are proud to announce that Watkins Meegan has been conducting a firm rebranding over the past few months. First, we've changed our name from Watkins, Meegan, Drury & Company, L.L.C., to Watkins Meegan LLC. Second, we've created a new logo and last week, we launched a revamped website. As part of our rebranding, we're also redesigning our e-blasts. Stay tuned for the next edition of the Government Contractor's File, which has been redesigned to provide you with maximum information. Click here to learn more. | |
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