Cassilly & Appel

Cassilly & Appel We are a full-service Accounting firm licensed in MD. We offer a broad range of services for business owners, executives, and independent professionals.

We are affordable, experienced, and friendly. Cassilly & Appel offers a wide range of services to our business and individual clients. For over 40 years, our clients have received personalized, quality service that is beyond comparison. Our firm offers more than just tax preparation and recordkeeping services. Through year-round business counseling, we will help you maximize your tax savings, mana

ge cash flow, and most importantly, operate your business more profitably. At Cassilly & Appel, we will work closely with you to review your business and determine your goals. We then design a comprehensive program – custom tailored to help you meet your goals and objectives in the most profitable and practical way. Our team will equip you with the proven business techniques and systems essential for success in today’s rapidly changing economic environment.

Does your business provide complimentary on-site food and beverages for employees? The rules for deducting certain busin...
05/29/2026

Does your business provide complimentary on-site food and beverages for employees? The rules for deducting certain business meals have changed. Beginning in 2026, employers generally can’t deduct 1) meals treated as de minimis fringe benefits, or 2) employer-provided meals that are excludable from an employee’s income and provided for the employer’s convenience on business premises. For the 2025 tax year, generally the former were 100% deductible and the latter were 50% deductible. Contact us at (410) 647-7777 to discuss whether this change will affect your company and how to plan accordingly.

Business owners: If you’re only reaching out at tax time, you may be missing some valuable insights. Why stop at tax fil...
05/27/2026

Business owners: If you’re only reaching out at tax time, you may be missing some valuable insights. Why stop at tax filings? Let us help you make smarter business decisions year-round — from improving cash flow to navigating economic uncertainty to planning for growth. Please call us at (410) 647-7777 to learn more about how we can support your strategic goals.

Beginning July 4, 2026, parents, grandparents and others can contribute to Trump Accounts (TAs) for the benefit of eligi...
05/25/2026

Beginning July 4, 2026, parents, grandparents and others can contribute to Trump Accounts (TAs) for the benefit of eligible children. Certain children born 2025–2028 may also qualify for a $1,000 starter deposit from the federal government. TA contributions are generally limited to $5,000 per year (not counting the government deposit) and aren’t tax deductible. But earnings grow tax-deferred. At age 18, the TA will become a traditional IRA. For education goals, options like 529 plans may be better, because qualified education withdrawals are tax-free. Contact us at (410) 647-7777 to discuss what fits your family.

The IRS has issued final regulations on the tax deduction for qualified cash tips. The legislation commonly known as the...
05/22/2026

The IRS has issued final regulations on the tax deduction for qualified cash tips. The legislation commonly known as the “One Big Beautiful Bill Act” created the deduction of up to $25,000 per year for 2025 through 2028. Qualified tips generally refer to cash tips received by an individual in an occupation that “customarily and regularly” received tips on or before Dec. 31, 2024. The final regs list more than 70 eligible occupations. In addition to occupations previously listed in the proposed regs, the final regs add visual artists, floral designers and gas pump attendants. The final regs also provide clarifications to the definition of a qualified cash tip. For more details, call us at (410) 647-7777.

While the thresholds for the 3.8% net investment income tax (NIIT) have remained unchanged since the NIIT went into effe...
05/18/2026

While the thresholds for the 3.8% net investment income tax (NIIT) have remained unchanged since the NIIT went into effect in 2013, taxpayer incomes have generally grown significantly. So more taxpayers are getting hit with this additional tax. The NIIT applies to the lesser of your net investment income or the amount by which your modified adjusted gross income exceeds the applicable threshold. And it kicks in long before the top short- and long-term capital gains rates apply. We can help you manage potential NIIT exposure. Contact us at (410) 647-7777.

The Qualified Opportunity Zone (QOZ) program offers tax breaks on capital gains from eligible long-term investments in d...
05/15/2026

The Qualified Opportunity Zone (QOZ) program offers tax breaks on capital gains from eligible long-term investments in designated low-income and rural communities. The One Big Beautiful Bill Act made the QOZ program permanent and established a new 10-year designation cycle. The IRS has issued guidance on how to nominate population census tracts for designation as QOZs. The next round of QOZs will be effective from Jan. 1, 2027, to Dec. 31, 2036. Generally, state and territory governors can begin nominating eligible census tracts for QOZ designation on July 1, 2026. The nomination period lasts 90 days, with the option of a single 30-day extension. Contact us at (410) 647-7777 with any questions about QOZ tax breaks.

Do you dream of retiring early? As in, really early? So do adherents of FIRE (Financial Independence, Retire Early). Man...
05/13/2026

Do you dream of retiring early? As in, really early? So do adherents of FIRE (Financial Independence, Retire Early). Many FIRE followers aim to retire in their 40s or even 30s! They make it happen by saving at least 50% of their current income, which some maximize by working second jobs. Obviously, this requires discipline and planning. But if early retirement is a priority, call us {Phone%} so we can help you make it happen.

No two taxpayers are exactly alike — so your tax strategies shouldn’t be either. Our firm provides customized tax planni...
05/11/2026

No two taxpayers are exactly alike — so your tax strategies shouldn’t be either. Our firm provides customized tax planning for individuals and businesses. We can identify opportunities to reduce taxes in your specific situation while helping you stay compliant with changing tax laws. Call us at (410) 647-7777 to get started.

Address

570 Baltimore Annapolis Boulevard
Severna Park, MD
21146

Opening Hours

Monday 8:30am - 5pm
Tuesday 8:30am - 5pm
Wednesday 8:30am - 5pm
Thursday 8:30am - 5pm
Friday 8:30am - 5pm

Telephone

+14106477777

Website

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