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Use an S corporation to mitigate federal employment tax bills | quickbooks consulting in harford county md | Weyrich, Cronin & Sorra

Management Advisory Services & Business Consulting

Use an S corporation to mitigate federal employment tax bills

If you own an unincorporated small business, you probably don’t like the size of your self-employment (SE) tax bills. No wonder! For 2023,…
Inheriting stock or other assets? You’ll receive a favorable “stepped-up basis” | estate planning cpa in elkton md | Weyrich, Cronin & Sorra

Estate & Wealth Transfer Planning

Inheriting stock or other assets? You’ll receive a favorable “stepped-up basis”

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. How…
Retirement account catch-up contributions can add up | quickbooks consulting in cecil county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Retirement account catch-up contributions can add up

If you’re age 50 or older, you can probably make extra “catch-up” contributions to your tax-favored retirement account(s). It is worth…
When can seniors deduct Medicare premiums on their tax returns? | estate planning cpa in baltimore md | Weyrich, Cronin & Sorra

Estate & Wealth Transfer Planning

When can seniors deduct Medicare premiums on their tax returns?

If you’re age 65 and older and have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you want.…
IRS provides transitional relief for RMDs and inherited IRAs | accounting firm in elkton md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

IRS provides transitional relief for RMDs and inherited IRAs

The IRS has issued new guidance providing transitional relief related to recent legislative changes to the age at which taxpayers must begin…
Are you married and not earning compensation? You may be able to put money in an IRA | tax preparation in harford county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Are you married and not earning compensation? You may be able to put money in an IRA

When one spouse in a married couple is not earning compensation, the couple may not be able to save as much as they need for a comfortable retirement.…

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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 ·
7 Jan

"How does your federal tax bill affect Medicare insurance premiums? How much will monthly Medicare premiums be in 2025? Here are the answers to those and other questions." https://bit.ly/4femneJ

wcscpas Weyrich Cronin Sorra @wcscpas ·
6 Jan

The ongoing saga of the beneficial ownership information reporting requirements isn’t over. A federal appeals court and the government now say that more than 30 million businesses no longer have to file reports in January 2025. https://bit.ly/3W9Ou89