Maryland ABLE Savings & Investment Plan Now Available


The Maryland ABLE savings & investment plan has officially launched. Maryland ABLE accounts are a new way to help individuals with disabilities save money and pay for qualified disability-related expenses without jeopardizing state or federal means-tested benefits such as SSI or Medicaid. Maryland ABLE is focused on helping citizens with disabilities achieve greater financial security, build […]

Remembering Marcy Kelly


I just learned that a colleague and close friend of mine, Marcy Kelly, died unexpectedly.  Marcy was a CPA and financial planner.  I was absolutely devastated to learn of Marcy’s sudden passing.  She was truly an extraordinary person and will be greatly missed by her family, her friends, her clients and her colleagues.  I had […]

Veterans Benefits


What Veterans Benefits Am I Eligible to Receive? The Department of Veterans Affairs (VA) offers several valuable benefits for veterans of the United States military, including pension programs, health care, disability compensation, education assistance, and post-traumatic stress order (PTSD) support. If you or a loved one is a veteran of the U.S. Armed Forces, you […]

Veterans Planning


Veterans Planning Estate planning is an important financial tool for achieving long-term goals and preparing for the future. Individuals that have served in the United States military may be eligible for medical care, pensions, and other benefits offered by the Department of Veterans Affairs (VA) which are important to consider when devising an estate plan. […]

DC Estate Tax Exemption Update


Pursuant to a law passed in December, the District of Columbia’s exemption from estate tax shall equal the Federal exemption from estate tax, or currently, $11,200,000 per person.  Unlike the Federal law, D.C. does not allow for a deceased spouse to inherit any unused exemption from estate tax (referred to as “portability”).  Therefore, if a […]

Gary Altman Selected as Maryland 2018 “Super Lawyer” Marking His 12th Year on the Coveted List


Gary Altman, Esq., founder of the Maryland-based estate planning law firm Altman & Associates, has been named a 2018 Maryland “Super Lawyer” in their Estate Planning and Probate category. The acknowledgement, also published by Washington Post Magazine, Baltimore Magazine and Washington Lawyer Magazine, marks Altman’s 12th year in a row making the list and compliments a year of exciting changes for […]

IRS Advisory: Prepaid Real Property Taxes May Be Deductible in 2017 if Assessed and Paid in 2017


An important message regarding pre-paying 2018 state and local property taxes from IRS.gov, dated Dec. 27, 2017: WASHINGTON – The Internal Revenue Service advised tax professionals and taxpayers today that pre-paying 2018 state and local real property taxes in 2017 may be tax deductible under certain circumstances. The IRS has received a number of questions […]

Mad Scramble to Make Year-End Tax Decisions, Such as Charitable Gifting


Every day I get another email or newsletter about the new tax law.  The bill was over 1,000 pages long.  It will take some time for the payroll companies to adjust their computer systems to take into account the new law’s rates. However, many individuals are trying to figure out if there is some tax […]

Deducting State & Local Taxes Under the New Tax Law: Is Prepayment Right for You?


Much as been written about the new tax law.  One of the biggest questions has to do with the deductibility of State and Local Income, Sales and Real Property Taxes (SALT).  Under the tax law just signed by President Trump, starting in 2018, individuals will only be able to deduct SALT up to a maximum […]

Altman Holiday Wishes & Hours


We would like to wish you all a wonderful, warm and healthy holiday! Our offices closed today at noon and will re-open for regular business hours on Tuesday, December 26th. We will close again at noon on Friday, December 29th and re-open for regular business hours on Tuesday, January 2, 2018! Cheers to all! The […]