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When do valuable gifts to charity require an appraisal? - estate planning cpa in alexandria va - weyrich, cronin and sorra

Tax Prep, Planning & Strategy

When do valuable gifts to charity require an appraisal?

If you donate valuable items to charity and you want to deduct them on your tax return, you may be required to get an appraisal. The IRS requires…
Should you convert your business from a C to an S corporation - accounting firm in harford county md - weyrich, cronin and sorra

Management Advisory Services & Business Consulting

Should you convert your business from a C to an S corporation?

Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are sole…
Nonprofits: Act thoroughly on audit findings - cpa in washington dc - weyrich, cronin and sorra

Non-Profits

Nonprofits: Act thoroughly on audit findings

External audits can help assure your not-for-profit’s stakeholders that your financial statements are fairly presented according to U.S. Generally…
Pay attention to the tax rules if you turn a hobby into a business - tax preparation in baltimore county md - weyrich, cronin and sorra

Tax Prep, Planning & Strategy

Pay attention to the tax rules if you turn a hobby into a business

Many people dream of turning a hobby into a regular business. Perhaps you enjoy boating and would like to open a charter fishing business. Or…
Federal regulators expand overtime pay requirements, ban most noncompete agreements - accounting firm in washington dc - weyrich, cronin and sorra

Management Advisory Services & Business Consulting

Federal regulators expand overtime pay requirements, ban most noncompete agreements

The U.S. Department of Labor (DOL) has issued a new final rule regarding the salary threshold for determining whether employees are exempt from…
Don’t have a tax-favored retirement plan? Set one up now - business consulting firms in dc - weyrich, cronin and sorra

Tax Prep, Planning & Strategy

Don’t have a tax-favored retirement plan? Set one up now

If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow for…

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wcscpas Weyrich Cronin Sorra @wcscpas ·
11 Jul

There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partner are planning to admit a new partner. The new partner will acquire a one-third interest in the partnership.

wcscpas Weyrich Cronin Sorra @wcscpas ·
4 Jul

"After experiencing a downturn in 2023, merger and acquisition activity in several sectors is rebounding in 2024. If you’re buying a business, you want the best results possible after taxes. You can potentially structure the purchase in two ways." https://bit.ly/3VXtZvP