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When should you turn down an inheritance? | estate planning cpa in washington dc | Weyrich, Cronin & Sorra

Estate & Wealth Transfer Planning

When should you turn down an inheritance?

“Thanks, but no thanks.” If you expect to receive an inheritance from a family member, you might want to use a qualified disclaimer to refuse…
Partners may have to report more income on tax returns than they receive in cash | accounting firm in bel air md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Partners may have to report more income on tax returns than they receive in cash

Are you a partner in a business? You may have come across a situation that’s puzzling. In a given year, you may be taxed on more partnership…
Help when needed: Apply the research credit against payroll taxes | business consulting services in elkton md | Weyrich, Cronin & Sorra

Management Advisory Services & Business Consulting

Help when needed: Apply the research credit against payroll taxes

Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you…
Businesses will soon be able to deduct more under the standard mileage rate | tax accountant in cecil county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Businesses will soon be able to deduct more under the standard mileage rate

Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide price of…
2022 Q3 tax calendar: Key deadlines for businesses and other employers | cpa in harford county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

2022 Q3 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2022. Keep in mind that this…
Your estate plan: Don’t forget about income tax planning | estate planning cpa in harford county md | Weyrich, Cronin & Sorra

Estate & Wealth Transfer Planning

Your estate plan: Don’t forget about income tax planning

As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with federal estate…

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