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Don’t miss your opportunity to make a 2025 IRA contribution — whether you can deduct it or not | Weyrich, Cronin & Sorra | accounting firm in hunt valley md

Tax Prep, Planning & Strategy

Don’t miss your opportunity to make a 2025 IRA contribution — whether you can deduct it or not

Generally, each year you can contribute up to the annual limit to a traditional or Roth IRA (or a combination of the two). But once the contribution…
How the new Trump Accounts for children will work | cpa in harford county md | Weyrich, Cronin & Sorra

Estate & Wealth Transfer Planning

How the new Trump Accounts for children will work

A new tax-advantaged way to help children build up savings for the future was created by the One Big Beautiful Bill Act (OBBBA): Trump Accounts…
If you’re married, should you file jointly or separately? | tax accountant in baltimore county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

If you’re married, should you file jointly or separately?

Married couples have a choice when filing their 2025 federal income tax returns. They can file jointly or separately. What you choose will affect…
IRS releases guidance on new depreciation deduction | tax accountant in baltimore county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

IRS releases guidance on new depreciation deduction

A new but temporary special depreciation allowance for qualified production property (QPP) was created by last year’s One Big Beautiful Bill…
Increase your current business deductions under tangible property safe harbors | business consulting services in harford county md | Weyrich, Cronin & Sorra

Management Advisory Services & Business Consulting

Increase your current business deductions under tangible property safe harbors

Did your business make repairs to tangible property, such as buildings, equipment or vehicles, in 2025? Such costs may be fully deductible on…
To maximize — or not to maximize — depreciation deductions on your 2025 tax return | accounting firm in baltimore county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

To maximize — or not to maximize — depreciation deductions on your 2025 tax return

The deadlines for filing 2025 tax returns (or extensions) are fast approaching. Although most tax planning moves must be completed by December 31…

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