Sam Handwerger, CPA, is a full-time lecturer in the accounting department and is a University of Maryland undergraduate accounting alumnus. He also holds a Master of Science in Taxation from the University of Baltimore. Handwerger was a senior tax researcher with EY in New York City and later led the Tax Planning and Preparation Departments of the CPA firm Handwerger, Cardegna, Funkhouser & Lurman. In 1996, he was awarded the Governor's Volunteer of the year award in the State of Maryland for financial and management advisement to non-profit organizations. Before joining the Smith School on a full-time basis, Handwerger held adjunct positions at the Johns Hopkins University School of Business and the University of Baltimore Law School.
SMITH BRAIN TRUST – In February, Maryland Smith’s Samuel Handwerger told Smith Brain Trust four reasons why it’s smart to file your tax returns early.
SMITH BRAIN TRUST – The tax season has just begun, and Maryland Smith’s Samuel Handwerger says already he’s noticing a trend. This year, taxpayers have a whole lot of questions about crowdfunding.
SMITH BRAIN TRUST – March of 2020 wasn’t full of good stuff, but it did bring us one good thing – the CARES Act, which among other niceties allows taxpayers to take a “one-time” $300 charitable donation on their 2020 returns, even if they don’t itemize their deductions.
SMITH BRAIN TRUST – Maryland Smith’s Samuel Handwerger says he knows one thing about Elon Musk’s 2020 personal tax return. The billionaire Tesla CEO and founder will be checking “Yes” next to this question: “At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?”
For many organizations, the pandemic era has been a test of resilience and adaptability. Maryland Smith’s TerpTax is acing that test. TerpTax, Maryland Smith’s free tax preparation service, puts volunteer undergrad students to work helping qualifying community members and UMD graduate students file their taxes. Most years, those tax returns are filed by the April 15 deadline, and soon after, the student volunteers head off in all directions for internships or job prospects. But 2020 was not like other years.
And TerpTax was ready to adapt.
SMITH BRAIN TRUST – Tax season officially starts on Feb. 12 this year. It’s the date the IRS will start accepting and processing tax returns.
“Neither did I,” he says, “but it should have been at 4:20, the unofficial California time for ‘Mary Jane,’ the good stuff, pot, marijuana.”