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Clarity counts when it comes to estate planning documents | tax preparation in alexandria va | Weyrich, Cronin & Sorra

Estate & Wealth Transfer Planning

Clarity counts when it comes to estate planning documents

Precise language is critical in wills, trusts and other estate planning documents. A lack of clarity may be an invitation to litigation. An example…
When inheriting money, be aware of “income in respect of a decedent” issues | tax accountant in alexandria va | WCS

Estate & Wealth Transfer Planning

When inheriting money, be aware of “income in respect of a decedent” issues

Once a relatively obscure concept, “income in respect of a decedent” (IRD) may create a surprising tax bill for those who inherit certain…
Taking the opposite approach: Ways your business can accelerate taxable income and defer deductions | cpa in alexandria va | WCS

Management Advisory Services & Business Consulting

Taking the opposite approach: Ways your business can accelerate taxable income and defer deductions

Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when…
The tax rules of renting out a vacation property | accounting firm in alexandria va | WCS

Tax Prep, Planning & Strategy

The tax rules of renting out a vacation property

Summer is just around the corner. If you’re fortunate enough to own a vacation home, you may wonder about the tax consequences of renting it…
A beneficiary designation or joint title can override your will | estate planning cpa in alexandria va | WCS

Estate & Wealth Transfer Planning

A beneficiary designation or joint title can override your will

Inattention to beneficiary designations and jointly titled assets can quickly unravel your estate plan. Suppose, for example, that your will…
5 ways to control your business insurance costs | accountant in alexandria va | WCS

Management Advisory Services & Business Consulting

5 ways to control your business insurance costs

Common sense dictates that every company, no matter how small, should carry various forms of business insurance. But that doesn’t mean you…

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