Livre Financial

03/12/2026

As I'm buried in tax season, here's a PSA on behalf of all accountants. The deduction for medical expenses is really hard to be able to claim. The first hurdle is that you can only deduct anything that is more than 7.5% of your income. So if you make $100,000 for the year, you don't get to claim the first $7,500 worth of medical expenses. Second, this is an itemized deduction. Your standard deduction is approximately $15,000 if you're single and $30,000 for married. That means your medical expenses, plus property taxes, mortgage insurance, and donations have to be above that amount to make it worth it for you to itemize. If you have a handful of prescription receipts for $5 each, it's probably not worth bringing them in.

If you think, after reading this, you have enough to qualify, it would be really nice if you stapled your medical receipts together and put a calculation sheet on the top of it so we can just really quickly check the amounts and calculations. This will save us time and you money as we will spend less time on your return.

Thank you for being kind to your accountant! 🥰

02/21/2026

It's that "wonderful" time of year known as tax season! One question I am asked frequently is, "How do I avoid getting audited?" So, I just read this great article from Schwab and thought I'd pass it along: https://www.schwab.com/learn/story/how-to-minimize-risk-irs-audit?cmp=em-XCS

Not legal or tax advice... and all the other fine print disclaimers at the bottom of the article. ;)

A number of tax audits result from preventable mistakes. Here are the five most common audit red flags—and what to do to avoid them.

02/02/2026

1099's are due today and tax season has officially begun! If you are looking for tax preparation services, I'm taking a limited number of new clients this year.

12/16/2025

Passed my first CPA exam!!! On to the next...

10/16/2025

MD has increased speeding fines effective October 1. Remember that fines and penalties are not tax deductible for business OR personal returns, so watch your speed and be safe!

09/13/2025

As we are approaching the holiday season make sure you have an I-9 on file for all employees and contractors - including ANYONE you pay more than a total of $600 to throughout the year. Chasing people down for their social security numbers in order to file W-2's or 1099's is not how you want to spend your January!

07/25/2025

Need help with profitability? Livre Financial can go over your products and help determine how to boost profitability by determining your best-selling products and ensuring you are charging the right amount!

06/04/2025

Estimated taxes are due June 15! If you need help, feel free to reach out! I'm also available to help get your business expenses tracked. Getting started now will mean less work at tax time.

09/20/2024

Anyone looking for a great family-friendly show to watch in October? College of Southern Maryland is putting on Bremen Town Musicians, with an awesome cast of kids and adults (including two of my family). Tickets are available here!

05/30/2024

Please join me in congratulating Jennifer Vorm for being hired as a financial AUDITOR for the U.S. Citizenship and Immigration Services, Office of Chief Financial Officer!!!!!! This is a major step forward in her accounting journey, and a huge increase in responsibility! Years of hard work is paying off. It is so exciting to see your talents and abilities recognized and rewarded! Congratulations, Jen!!!!!

01/08/2024

Good morning! Your last estimated tax payment for 2023 is due on January 16! If you need to make a payment to the IRS to avoid penalties, make a payment or schedule an appointment this week to get it done!
Diagram is from IRS Publication 505: https://www.irs.gov/publications/p505