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Update on IRS efforts to combat questionable Employee Retention Tax Credit claims | business consulting services in washington dc | Weyrich, Cronin & Sorra

Management Advisory Services & Business Consulting

Update on IRS efforts to combat questionable Employee Retention Tax Credit claims

The Employee Retention Tax Credit (ERTC) was introduced back when COVID-19 temporarily closed many businesses. The credit provided cash that…
Answers to your tax season questions | tax accountant in harford county md | Weyrich, Cronin, and Sorra

Tax Prep, Planning & Strategy

Answers to your tax season questions

The IRS announced it will open the 2024 income tax return filing season on January 29. That’s when the tax agency will begin accepting and…
IRAs: Build a tax-favored retirement nest egg | tax accountant in elkton md | Weyrich, Cronin, and Sorra

Tax Prep, Planning & Strategy

IRAs: Build a tax-favored retirement nest egg

Although traditional IRAs and Roth IRAs have been around for decades, the rules involved have changed many times. The Secure 2.0 law, which was…
The standard business mileage rate will be going up slightly in 2024 | accounting firm in washington dc | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

The standard business mileage rate will be going up slightly in 2024

The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents…
Does your business have employees who get tips? You may qualify for a tax credit | cpa in alexandria va | Weyrich, Cronin & Sorra

Management Advisory Services & Business Consulting

Does your business have employees who get tips? You may qualify for a tax credit

If you’re an employer with a business where tipping is routine when providing food and beverages, you may qualify for a federal tax credit…
Defer a current tax bill with a like-kind exchange | tax accountant in alexandria va | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Defer a current tax bill with a like-kind exchange

If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the…

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