2022 Tax Prep, Planning & Strategy Insights

Investing in the future with a 529 education plan | Tax Accountants in Washington DC | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Investing in the future with a 529 education plan

If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also…
Changes in Tax Treatment of R&D | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Changes in Tax Treatment of R&D

By Jonathan Davis If your business has substantial R&D expenses in 2022, you may want to do some tax planning to get an estimate of the…
Is your income high enough to owe two extra taxes? | cpa in cecil county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Is your income high enough to owe two extra taxes?

High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment…
The Inflation Reduction Act: what’s in it for you? | accountant in cecil county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

The Inflation Reduction Act: what’s in it for you?

You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about whether it…
How to avoid the early withdrawal tax penalty on IRA distributions | accountant in hunt valley md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

How to avoid the early withdrawal tax penalty on IRA distributions

When you take withdrawals from your traditional IRA, you probably know that they’re taxable. But there may be a penalty tax on early withdrawals…
Is your withholding adequate? Here’s how to check | accountant in cecil county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Is your withholding adequate? Here’s how to check

When you filed your federal tax return this year, were you surprised to find you owed money? You might want to change your withholding so that…

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wcscpas Weyrich Cronin Sorra @wcscpas ·
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"Divorce entails difficult personal issues, and taxes are probably the farthest thing from your mind. However, several tax concerns may need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made. Here are six iss ...

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"Most not-for-profit leaders are familiar with the concept of excess benefit transactions and the need to avoid them. But a refresher course may be in order, particularly when you consider that 501(c)(3) organizations determined by the IRS to have violated the rules can be li ...