2022 Tax Prep, Planning & Strategy Insights

Estimated tax payments: Who owes them and when is the next one due? | accounting firm in elkton md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Estimated tax payments: Who owes them and when is the next one due?

If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments. This is…
The tax obligations if your business closes its doors | quickbooks consulting in washington dc | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

The tax obligations if your business closes its doors

Sadly, many businesses have been forced to shut down recently due to the pandemic and the economy. If this is your situation, we can assist you,…
Important considerations when engaging in a like-kind exchange | cpa in alexandria va | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Important considerations when engaging in a like-kind exchange

A business or individual might be able to dispose of appreciated real property without being taxed on the gain by exchanging it rather than selling…
Interested in an EV? How to qualify for a powerful tax credit | tax preparation in alexandria va | Weyrich, Cronin, and Sorra

Tax Prep, Planning & Strategy

Interested in an EV? How to qualify for a powerful tax credit

Sales and registrations of electric vehicles (EVs) have increased dramatically in the U.S. in 2022, according to several sources. However, while…
The kiddie tax: Does it affect your family? | tax preparation in cecil county | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

The kiddie tax: Does it affect your family?

Many people wonder how they can save taxes by transferring assets into their children’s names. This tax strategy is called income shifting.…
Weathering the storm of rising inflation | tax accountant in elkton md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Weathering the storm of rising inflation

Like a slowly gathering storm, inflation has gone from dark clouds on the horizon to a noticeable downpour on both the U.S. and global economies.…

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wcscpas Weyrich Cronin Sorra @wcscpas ·
10 Oct

"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 ...

wcscpas Weyrich Cronin Sorra @wcscpas ·
8 Oct

"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 ...