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Corporate business owners: Is your salary reasonable in the eyes of the IRS? | accounting firm in elkton md | Weyrich, Cronin & Sorra

Management Advisory Services & Business Consulting

Corporate business owners: Is your salary reasonable in the eyes of the IRS?

Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s…
Hiring independent contractors? Make sure you’re doing it right | tax preparation in cecil county | Weyrich, Cronin & Sorra

Management Advisory Services & Business Consulting

Hiring independent contractors? Make sure you’re doing it right

Many businesses turn to independent contractors to help manage costs, especially during times of staffing shortages and inflation. If you’re…
Exploring business entities: Is an S corporation the right choice? | business consulting services in alexandria va | Weyrich, Cronin & Sorra

Management Advisory Services & Business Consulting

Exploring business entities: Is an S corporation the right choice?

Are you starting a business with partners and deciding on the right entity? An S corporation might be the best choice for your new venture. One…
Maryland’s Proposed Business-to-Business Tax: A Direct Hit on Small Businesses | business consulting and accounting services in Baltimore county | Weyrich, Cronin & Sorra

Management Advisory Services & Business Consulting

Maryland’s Proposed Business-to-Business Tax: A Direct Hit on Small Businesses

Maryland lawmakers are considering a 2.5% sales tax on business-to-business (B2B) services, which could significantly impact small businesses…
How Section 1231 gains and losses affect business asset sales | business consulting services in elkton md | weyrich, cronin and sorra

Management Advisory Services & Business Consulting

How Section 1231 gains and losses affect business asset sales

When selling business assets, understanding the tax implications is crucial. One area to focus on is Section 1231 of the Internal Revenue Code,…
Employers: In 2025, the Social Security wage base is going up | business consulting services in cecil county md | weyrich, cronin and sorra

Management Advisory Services & Business Consulting

Employers: In 2025, the Social Security wage base is going up

As we approach 2025, changes are coming to the Social Security wage base. The Social Security Administration recently announced that the wage…

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Hunt Valley Office

20 Wight Avenue
Suite 210
Hunt Valley, MD 21030
410.339.6464
Fax: 410.339.7272

Bel Air Office

139 North Main Street
Suite 201
Bel Air, MD 21014
410.838.2237
Fax: 410.893.9527

Elkton Office

116 West Main Street
Elkton, MD 21921
410.398.1961
Fax: 410.398.1157

Latest Tweets

wcscpas Weyrich Cronin Sorra @wcscpas ·
17 Jun

As a C corporation or S corporation business owner, setting your own salary can be tricky. If it’s too high or too low, the IRS may step in. Here’s how to help ensure your compensation is considered reasonable, which helps keep your tax deductions intact. https://bit.ly/43n6jTT

wcscpas Weyrich Cronin Sorra @wcscpas ·
12 Jun

Harvesting capital losses is a viable tax-saving strategy as long as you avoid the wash sale rule. Here’s how it works. https://bit.ly/43uChhh