Travis Raml, CPA & Associates, LLC - Columbia Maryland CPA

Travis Raml, CPA & Associates, LLC - Columbia Maryland CPA Travis Raml, CPA & Associates, LLC is a Columbia, MD CPA firm offering a full range of accounting and tax services.

Travis Raml, CPA & Associates is a Columbia MD CPA Firm with the focused goal of being a key resource & partner for our clients directly increasing their Growth, Profits, & Wealth. Our specialties include Tax Preparation, Accounting and Bookkeeping, DCAA compliance, Tax Resolution and Representation cases, Tax Planning, Incorporation services, Payroll Processing, and much more. We have been serving Columbia, MD and the greater Washington, D.C and Baltimore areas since 2006.

05/03/2022

Focus on Forecasting: Keeping Your on Track

✔️ Ongoing Monitoring

✔️ Needed Adjustments

✔️ Real-Time
Including:
📌 💵
📌 📊 data
📌 Workforce 👷‍♂️ data



Full Read: http://ramlcpa.tax/Xe4Y

𝐂𝐚𝐧 𝐘𝐨𝐮𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐁𝐞𝐧𝐞𝐟𝐢𝐭 𝐅𝐫𝐨𝐦 𝐚𝐧 𝐇𝐑𝐀 (𝐇𝐞𝐚𝐥𝐭𝐡 𝐑𝐞𝐢𝐦𝐛𝐮𝐫𝐬𝐞𝐦𝐞𝐧𝐭 𝐀𝐫𝐫𝐚𝐧𝐠𝐞𝐦𝐞𝐧𝐭)?It is not news that the talent shortage is maki...
02/08/2022

𝐂𝐚𝐧 𝐘𝐨𝐮𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐁𝐞𝐧𝐞𝐟𝐢𝐭 𝐅𝐫𝐨𝐦 𝐚𝐧 𝐇𝐑𝐀 (𝐇𝐞𝐚𝐥𝐭𝐡 𝐑𝐞𝐢𝐦𝐛𝐮𝐫𝐬𝐞𝐦𝐞𝐧𝐭 𝐀𝐫𝐫𝐚𝐧𝐠𝐞𝐦𝐞𝐧𝐭)?

It is not news that the talent shortage is making employers think about ways to attract and retain exceptional talent. Offering a range of benefits is one such method they are using, and the statistics bear them out:

📊 80% of workers would keep a job with benefits rather than take one that offered more pay but no benefits.

Reasons companies increased their .
📊 Retention (72%) and
📊Recruiting (58%) were top

📊 73% of workers listed health insurance as one of the top three most important benefits.

𝐇𝐞𝐚𝐥𝐭𝐡 𝐑𝐞𝐢𝐦𝐛𝐮𝐫𝐬𝐞𝐦𝐞𝐧𝐭 𝐀𝐫𝐫𝐚𝐧𝐠𝐞𝐦𝐞𝐧𝐭
With a health reimbursement arrangement ( ), the employer provides an allowance toward employees’ individually purchased health insurance premiums. often are more affordable than traditional health care because employers can choose their own contribution amount as long as they stay within federal guidelines. This is especially attractive to smaller employers because it allows them to provide health care without having to deal with participation requirements or minimum contribution percentages.

𝐈𝐧𝐝𝐢𝐯𝐢𝐝𝐮𝐚𝐥 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞 𝐇𝐞𝐚𝐥𝐭𝐡 𝐑𝐞𝐢𝐦𝐛𝐮𝐫𝐬𝐞𝐦𝐞𝐧𝐭 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐬
New in 2020, individual coverage health reimbursement accounts (ICHRAs) are a new option for . These plans, which are governed by complicated regulations, reimburse employees for individual health insurance premiums as long as the employee satisfies certain conditions, including the following:

🔸 Being enrolled in qualifying coverage
🔸 Having the option to opt-out annually
🔸 Not belonging to an employee group that has the option of traditional health care
🔸 Meeting age-related requirements (e.g., the maximum dollar amount provided to the oldest participant may not exceed three times the maximum available to the youngest participant)

Other Considerations
Companies have many other choices in offering coverage. This makes it wise for companies to engage employee benefits experts for guidance when evaluating a new or existing health insurance program. Among the many considerations are the following:

🔹 The company’s contribution strategy for health care (i.e., how much will individual employees pitch in for coverage, and what percent will the company pay)
🔹 The specific benefits that are important to your employees (e.g., a vision plan)
🔹 Tax considerations
🔹 Whether the company is available for any subsidies or incentives

If you need additional guidance about , contact us today.

02/01/2022

🔊There is Still Time to Get Health Insurance. Open Enrollment Extended in Maryland through February 28! 🔊

Over 181,000 Maryland residents have enrolled so far for health insurance through https://ramlcpa.link/1sy6u for 2022, an 9.4%📈 increase over 2021.

Between November 1st and January 15th, new health insurance enrollments totaled 39,181 – up by 48%. Over 141,000 people who had through the state exchange renewed their plans for 2022. Maryland residents can also get dental coverage through Maryland Health Connection.📊

Dental enrollments grew 29% from 51,505 in 2021 to 66,634 for 2022. 📈

The rise in enrollments is not by accident though, as Maryland launched a reinsurance program back in 2018 that has helped create some of the most affordable plans in the nation. According to the Kaiser Family Foundation, Maryland on average has the least expensive Individual gold and bronze plans and the third lowest-cost silver plans in the nation.

There will be additional enrollment opportunities this year, including the Easy Enrollment program, which allows uninsured people who file their state income taxes to sign up for insurance through an online application. Additional information on the Easy Enrollment program can be found by visiting:

https://ramlcpa.link/hfr

Maryland is also launching a similar program later this year for those filing for Unemployment Insurance and checks a box feature indicating that they need coverage.

on the Easy Enrollment program can be found by visiting

Maryland is also launching a similar program later this year for those filing for Unemployment Insurance and checks a box feature indicating that they need coverage.

https://ramlcpa.link/0201a

Planning Tip: Your RMD for retirement plan withdraws could be changing due to the new IRS Life Expectancy TablesIt's 202...
01/28/2022

Planning Tip: Your RMD for retirement plan withdraws could be changing due to the new IRS Life Expectancy Tables

It's 2022 and with new life expectancy tables that are affected by the covid-19, it's really a must to recalculate your distributions to ensure you're taking out the required minimum.

RMD Worksheet 🔗[Link https://ramlcpa.link/0128a]

Additional information on Required Minimum Distributions ( )
🔗[Link https://ramlcpa.link/0128b]

https://ramlcpa.link/0124b


29% of small businesses fail because they run out of cash.This makes sense considering that 67% of owners use personal f...
01/17/2022

29% of small businesses fail because they run out of cash.

This makes sense considering that 67% of owners use personal funds to deal with their financial crisis, which can become extremely costly in the long run.

Do you need help in this regard?

We designed our services to address this and many other challenges small businesses face.

Schedule a free introductory consultation today 📅 https://ramlcpa.link/consult

📱 http://www.ramlcpa.com
📩 [email protected]
📞 443-927-9161


smallbizstats

01/13/2022

📣Key provisions include:

- Tax Relief
- Enhanced & Tax Relief for Families
- Small Relief
- Incentives for
- Incentives for Vacant Space

https://ramlcpa.link/01-12a

01/05/2022

Tired of Struggling?⠀
⠀
Complicated times require Answers, Insights, & Solutions!⠀
⠀
⠀
Accounting ◽ Tax Preparation ◽ Outsourced CFO⠀
⠀
📞 443-927-9161⠀
📧 [email protected]⠀
🗓Schedule a free consultation
https://Ramlcpa.link/consult

3 Timely Tips from the ‼️The IRS is encouraging taxpayers to make sure they're well-informed about their tax situatio...
01/04/2022

3 Timely Tips from the ‼️

The IRS is encouraging taxpayers to make sure they're well-informed about their tax situation as the filing deadline approaches. The key topics include special steps related to charitable contributions, economic impact payments, and advance child tax credit payments. Here are some key items for taxpayers to know before they file next year.

1️⃣ Changes to the charitable contribution deduction
Taxpayers who don't itemize deductions may qualify to take a deduction of up to $600 for married taxpayers filing joint returns and up to $300 for all other filers for cash contributions made in 2021 to qualifying organizations.

2️⃣ Check on advance child tax credit payments
Families that received advance payments will need to compare the advance child tax credit payments that they received in 2021 with the amount of the child tax credit they can properly claim on their 2021 tax return:

Taxpayers who received less than the amount for which they're eligible will claim a credit for the remaining amount of child tax credit on their 2021 tax return.

Eligible families that did not get monthly advance payments in 2021 can still get a lump-sum payment by claiming the child tax credit when they file a 2021 federal income tax return next year. This includes families that don't normally need to file a return.

In January 2022, the IRS will send Letter 6419 showing the total amount of advance child tax credit payments taxpayers received in 2021. People should keep this and any other IRS letters about advance child tax credit payments with their tax records to share with their preparers. Individuals can also create or log in to an IRS .gov online account to securely access their child tax credit payment amounts.

3️⃣ Economic impact payments and claiming the recovery rebate credit
Individuals who didn't qualify for the third economic impact payment or did not receive the full amount may be eligible for the recovery rebate credit based on their 2021 tax information. They'll need to file a 2021 tax return, even if they don't usually file, to claim the credit.

Individuals will need the amount of their third economic impact payment and any plus-up payments received to calculate their correct 2021 recovery rebate credit amount when they file their tax return.

In early 2022, the IRS will send Letter 6475, which contains the total amount of the third economic impact payment and any plus-up payments received. People should keep this and any other IRS letters about their stimulus payments with other tax records. Individuals can also create or log in to an IRS .gov online account to securely access their economic impact payment amounts.

If you have questions or need assistance I can be reached at:

📞 443-927-9161
📧 [email protected]

12/31/2021

Knowing the difference between
things that are interesting

vs.

things that are important
and applying your energy accordingly is critical for

IRS Update: 2 of the 3 Standard Mileage Rates have increased for 2022.https://ramlcpa.link/jwwThe IRS has issued the 202...
12/23/2021

IRS Update: 2 of the 3 Standard Mileage Rates have increased for 2022.
https://ramlcpa.link/jww

The IRS has issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2022, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be

Business miles - 58.5 cents, up 2.5 cents from 2021.
Medical Miles - 18 cents, up 2 cents from 2021
Charitable Miles - 14 cents, unchanged from 2021

The standard mileage rate for business use is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs.

Moving Expense Limitations
It is important to note that under the Tax Cuts and Jobs Act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses. Taxpayers also cannot claim a deduction for moving expenses unless they are members of the armed forces on active duty moving under orders to a permanent change of station. For more details, see Moving Expenses for Members of the Armed Forces.

Actual Vehicle Costs vs Standard Mileage
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

Special Mile Rate Rules
Taxpayers can use the standard mileage rate but must opt to use it in the first year the car is available for business use. Then, in later years, they can choose either the standard mileage rate or actual expenses. Leased vehicles must use the standard mileage rate method for the entire lease period (including renewals) if the standard mileage rate is chosen.

Notice 22-03 contains the optional 2022 standard mileage rates, as well as the maximum automobile cost used to calculate the allowance under a fixed and variable rate (FAVR) plan. In addition, the notice provides the maximum fair market value of employer-provided automobiles first made available to employees for personal use in calendar year 2022, for which employers may use the fleet-average valuation rule or the vehicle cents-per-mile valuation rule.

The rules can get complicated, so if in doubt, consult a qualified tax professional.

Why all good ideas don't make good businesses?The most common reason small businesses fail is that the market simply doe...
12/06/2021

Why all good ideas don't make good businesses?

The most common reason small businesses fail is that the market simply doesn’t need their product or service.

Address

10440 Little Patuxent Parkway, Suite 300
Columbia, MD
21046

Opening Hours

Monday 10am - 5:30pm
Tuesday 9am - 6:30pm
Wednesday 9am - 5:30pm
Thursday 10am - 6:30pm
Friday 9am - 3:30pm

Telephone

(443) 927-9161

Website

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RamlCPA Firm Summary

Travis Raml, CPA & Associates, LLC is a Columbia MD CPA Firm with the focused goal of helping our clients achieve new levels of success. While the services and solutions are never the same for every client, we do have a general framework for this process, which allows for quicker results.

Our primary clients include Small and Mid-Size Businesses, Individuals with Complex Tax, & Financial Situations, and High Net-Worth Taxpayers. Our Four key services are used most often (in part or whole) to client goals:


  • Accounting & Financial Reporting,

  • Tax Preparation & Planning,