Tax Prep, Planning & Strategy Insights

No tax on car loan interest under the new law? Not exactly | tax accountant in elkton md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

No tax on car loan interest under the new law? Not exactly

Under current federal income tax rules, so-called personal interest expense generally can’t be deducted. One big exception is qualified residence…
How will the changes to the SALT deduction affect your tax planning? | tax preparation bel air | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

How will the changes to the SALT deduction affect your tax planning?

The One Big Beautiful Bill Act (OBBBA) shifts the landscape for federal income tax deductions for state and local taxes (SALT), albeit temporarily.…
Is college financial aid taxable? A crash course for families | tax preparation in bel air md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Is college financial aid taxable? A crash course for families

College can be expensive. According to the College Board, the average sticker price for tuition and fees at private colleges was $43,350 for…
Milestone moments: How age affects certain tax provisions | CPA in Bel Air MD | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Milestone moments: How age affects certain tax provisions

They say age is just a number — but in the world of tax law, it’s much more than that. As you move through your life, the IRS treats you…
What the new tax law could mean for you | accounting firms in baltimore | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

What the new tax law could mean for you

As 2025 began, individual taxpayers faced uncertainty with several key provisions of the tax law that were set to expire at the end of the year.…
What taxpayers need to know about the IRS ending paper checks | tax preparation in baltimore md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

What taxpayers need to know about the IRS ending paper checks

The federal government has announced a major change that will affect how numerous Americans receive their tax refunds and federal benefit payments.…

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