WCS Personalizes Every Client Encounter | accounting firm in md | Weyrich, Cronin & Sorra

WCS Personalizes Every Client Encounter

By Tracy Fitzgerald | Maximilian Franz Photography

There’s something special about WCS Accounting. While the 40-plus year-old firm set out to provide a diverse line of services and easily achieved that goal, it also provides something different and unexpected in an industry known mostly for its transactional nature.

The accounting firm built its success by committing to really know their clients – much more than their fiscal status, financial history, and annualized projections. Instead, the team of 55 associates digs deep to understand client history, leadership structure, team dynamics, goals, opportunities, challenges, and threats. They gather and analyze every piece of information, data, and perspective possible. And then they develop and share impactful strategies to help each client position itself for long-term success.

While traditional accounting, tax, and consulting services remain in the mix, WCS has gradually and progressively expanded its service portfolio over time to include both for-profit and non-profit entities.

WCS Personalizes Every Client Encounter | accounting firm in md | weyrich, cronin & sorra“Our clients rely on WCS for comprehensive auditing, merger and acquisition analysis, industry benchmarking, business succession planning, and estate and wealth transfer planning,” says Angeline White, CCA, CPA, partner at WCS. “They know that when they partner with WCS, they are working with a team that will bring industry-specific knowledge and value-based strategies to the table, with focus on achievement of their unique goals.”

Service Beyond the Standard Audit
White explains that standard audits are designed to help owners and leaders at various entities understand and optimize the use of financial statements. They often shed light on where the entity is running efficiently and productively as well as areas with room for process improvement and optimization. Audits conducted by WCS deliver even more than the expected scope.

“My partners and I are here to provide our clients with so much more than a series of compliance products,” says White. “We are committed to building trusting relationships and guiding our clients on what to do with the information their audits or business growth strategies provide. We bring industry perspective, best practices, and resources to the forefront, and inspire action.”

Presentation of a clean and comprehensive audit is step number one, says White. From there, the WCS team translates key findings into action. They meet with management to identify and discuss what opportunities exist, internally, to strengthen and streamline operations in ways that can reduce costs, increase revenue, and boost the bottom line. In many cases, especially within the non-profit sector, these discussions center around steps that can be taken to make the most out of limited resources. Another important step is presentation of an audit with key findings to the entity’s board of directors and staff, with emphasis on how their work is impacting the bottom line.

“When we are presenting an audit, we focus on optimization of financial management processes and what opportunities exist to work better and smarter,” said Nicole DeJarnette, CPA, audit manager at WCS who specializes in the non-profit sector. “We empower teams to be engaged in process improvement strategies and solutions, using the guidance and tools that WCS provides.”

Personalized service and attention remain central as audit presentations take place, and plans of action are defined.

“We know that no two entities are the same,” said White. “We build individually tailored plans and value-based strategies for every client. Both product and process matter, and are what set WCS apart from other firms.”

Charitable Giving, Strategically, or the Win-Win
As the end of the calendar year approaches, many WCS clients seek guidance on charitable giving, with a goal to contribute to non-profit organizations and other charitable causes in a meaningful, yet fiscally positive manner. They key is to plan, thoughtfully and strategically.

“Many clients come to us knowing up front what causes are important to them, but are in need of guidance on how to best facilitate the giving process,” said Frank Linkous, CPA, tax senior manager at WCS. “We provide strategies to help those clients give to organizations that are important to them on a personal level, while effectively reducing their taxable income.”

The strategic planning process encourages willing donors to consider much more than the organizations they wish to endow and the total amount or value they plan to give. They are asked to consider the timeframe that is most ideal to process donations, the funding source (where the money that will be donated will come from), and the specific assets that will be contributed. For some, a cash donation is ideal. In other cases, community giving is seen implemented in the form of stocks, land, or landing building rights, says Linkous.

“These decisions require fairly in-depth conversations because we want our clients to fully understand their options and the pros and cons of each,” said Linkous. “Our goal is to identify the best-case scenario, where valuable community giving takes place and at the same time, the business sees positive impact from a bottom-line standpoint.”

Linkous also advises clients to be diligent in accessing and analyzing the financial reports of the non-profits they are considering supporting. These documents are helpful as prospective donors evaluate how their contributions would be used. There are a number of resources available to help donors collect this information and make informed decisions, from Form 990 to publicly available IRS reports, and GuideStar, a web-based platform that allows donors to search for non-profit data by name.

“As we are guiding clients through this process, we emphasize how important this research is because we want to make sure their donations are used in-line with their intentions,” said Linkous. “Some non-profits use donor funds to build or support programs. Others allocate donated funds to cover or reduce operational overhead costs. Knowing the facts up front is important because these are some of the details that drive how charitable giving decisions are made.”

A Culture Built Around Vision, Empowerment, and Growth
WCS is growing too, right alongside its base of clients. The firm is on a constant search for new talent, emphasizing that buy-in to company culture is as important as skill set, during the recruitment process. As leaders meet with job candidates to discuss employment opportunities, they are clear about the unique approach WCS takes in establishing and building client relationships, and that knowledge sharing is a fundamental value, internally. They also emphasize that WCS is a company that is dedicated to giving back to its community through volunteerism, sponsorships, and fundraising.

WCS Personalizes Every Client Encounter | accounting firm in md | weyrich, cronin & sorra“Our practice is very giving to our clients, each other, and our community. Transparency is key, and it starts during the interview process,” said White. “The partner group makes our processes and expectations very clear. This is a team that collaborates, trusts, and values one another. We work with a shared purpose and goal in mind, and they are to put the needs and goals or our clients first, every day. When we extend a job offer to candidate, we are confident that they are onboard with our culture and business philosophy, and will be a good fit for our team.”

Jazmin Petrantonio recently joined WCS as a staff accountant who works with a significant number of nonprofit clients. She can attest to White’s statement, noting that company culture was a major focus during her interview process, and the opportunity for solid professional growth was a major motivator in her decision to accept a position at WCS.

“It was very clear that WCS is a firm that creates career paths for its people, and that by coming to work here, I would have exposure to a lot of different clients with a lot of different business needs,” said Petrantonio. “Everyone here is committed to putting their best foot forward for our clients, and is empowered to lead. It’s a good place to be.”

Learn More
WCS has offices in Hunt Valley, Bel Air, and Elkton, Maryland. For more information about the firm’s comprehensive line of business services or to schedule an initial consultation, contact us.

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Best of Harford Voting Begins! | accountant in harford county | Weyrich, Cronin & Sorra

Best of Harford Voting Begins!

The Best of Harford contest began on November 13 and Weyrich, Cronin & Sorra is up for Best Accountant. Please consider voting for us!

Click here to vote for Weyrich, Cronin & Sorra >> 

You can vote once per day, per email address until the contest ends on December 4th. You can find us under Personal Services.

Weyrich, Cronin & Sorra Named Cecil Whig’s Best Accounting Firm of 2022

We are honored to announce that we have been voted Cecil Whig’s Best Accounting Firm of 2022.

Thanks to everyone who voted for us!

How Flexibility and Employee Engagement Fueled WCS’s Success | accounting firms in baltimore | WCS

How Flexibility and Employee Engagement Fueled WCS’s Success

“The last 15 months have taken companies on a roller coaster ride of experiences from a sudden transition to remote work to phased plans for a return to the office; from creating policies to address vaccine mandates to battling the Great Resignation amidst a raging war on talent.

“While many businesses were able to adapt and get creative with employee engagement, others never quite figured it out, and any wins companies had in 2020 have seemed to fade in 2021.

“According to Quantum Workplace’s annual Employee Engagement Trends Report, employers had reported strong year-over-year growth in employee engagement in 2020, but engagement has declined in 2021. The percentage of employees defined as engaged with their jobs dropped from 81% in January 2021 to 74% in July 2021.

“Seemingly every webinar and article about workplace trends focuses on culture and employee engagement. At WCS, however, culture is not a trend or buzzword. It is the centrifugal force that guides how the accounting firm operates every day.

“Founded as Weyrich, Cronin & Sorra in 1979, today WCS has three locations in the region, and has expanded its range of services beyond traditional tax, accounting and consulting services to include investigative accounting, non-profit organizations, construction and real-estate, governmental, employee benefit plans and health care practices.

“The firm is proud of its progressive approach to operations with partners leading teams of employees versus a top-down structure, and a shift away from the traditional model for accounting firms with everyone working quietly at their desks and competing for the next advancement opportunity.”

Read the full article here >>

PRESS RELEASE

We’re proud to announce that we’ve been named a Top Workplace by the Baltimore Sun. A big thank you to all of your employees who helped make this happen. Read more in our press release below!

 

PRESS RELEASE

WCS Gets in the Holiday Spirit Early with CASA of Cecil County’s Festival of Trees!

WCS employees in our Elkton Office are participating in CASA of Cecil County’s 5th Annual Festival of Trees!  The Festival trees is a silent auction that helps raise money for CASA’s Transitional Housing Program, which helps youth who are about to age out of foster care find their footing as they become adults.

Our Elkton team – Adam Wlodarczyk, Isaac Perera, and Caitlin Fox, helped decorate our beautiful tree this year that will be up for auction!

The trees will be on display from November 13th to December 4th at Woody’s Crab House in North East. The event is open to the public and the silent auction for the trees runs the duration of the event with the highest bidder winning the tree – decorations and all!

WCS is happy to be apart of this wonderful event in the Cecil Community!

6th Annual WCS Cup Golf Championship

Work Hard, Play Hard

WCS held its 6th Annual Golf Championship last month at Fox Hollow Golf Course in Lutherville. Rich Huffman, Andrew Ondish, Rayma McRoberts, and Taylor Gomez outplayed the competition and were named Champions! Congrats to the winners and all our employees who participated!

 

WCS Goes Axe Throwing!

Axe Throwing Outing

WCS recently treated its employees to a day of Axe Throwing at Autobahn International Speedway in White Marsh. The crew learned different throwing techniques and held competitions to show off their new skills! Scroll through to see the fun!

 

Pictures courtesy of Autobahn.

American Rescue Plan | accountants in Cecil County | Weyrich, Cronin & Sorra

American Rescue Plan Act signed by President Biden

President Joe Biden signed into law on Thursday the $1.9 trillion coronavirus relief bill known as the American Rescue Plan Act. This comes just a day after the House passed the Senate’s amended version which included changes to some of the tax provisions in the original bill.

The American Rescue Plan Act’s tax provisions include another round of Economic Income Payments (EIPs) paid as advances on a Recovery Rebate Credit, expansion of the child tax credit and earned income tax credit, restrictions on publicly traded corporations deductions of highly paid executive compensations, and exempting from taxation the first $10,200 of unemployment compensation received in 2020. You can read more about the details the bill’s passing here. 

For more in depth information on the implications of this legislation please read more in WCS’ article here. 

 

As always, please do not hesitate to call our offices for additional information and to speak to your representative about how this could affect your situation

Benny Walker | WCS Congratulates Benny Walker on his Retirement! | Weyrich, Cronin & Sorra | Baltimore, MD

WCS Congratulates Benny Walker on his Retirement!

After 21 years with WCS, Benny Walker, Partner, is set to retire at the end of the year. Read more on Benny’s legacy at WCS here.