2023 Tax Prep, Planning & Strategy Insights

Private foundations: “Disqualified persons” must color within the lines | tax accountants in cecil county | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Private foundations: “Disqualified persons” must color within the lines

Although conflict-of-interest policies are essential for all not-for-profits, private foundations must be particularly careful about adhering…
IRS issues guidance on new retirement catch-up contribution rules | tax accountant in harford county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

IRS issues guidance on new retirement catch-up contribution rules

In December 2022, President Biden signed the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act. Among other things, the…
The tax consequences of employer-provided life insurance | quickbooks consulting in alexandria va | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

The tax consequences of employer-provided life insurance

If your employer provides life insurance, you probably find it to be a desirable fringe benefit. However, if group term life insurance is part…
Selling your home for a big profit? Here are the tax rules | cpa in bel air md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Selling your home for a big profit? Here are the tax rules

Many homeowners across the country have seen their home values increase in recent years. According to the National Association of Realtors, the…
A tax-smart way to develop and sell appreciated land | tax accountant in cecil county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

A tax-smart way to develop and sell appreciated land

Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels and sell them…
Moving Mom or Dad into a nursing home? 5 potential tax implications | cpa in baltimore md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Moving Mom or Dad into a nursing home? 5 potential tax implications

More than a million Americans live in nursing homes, according to various reports. If you have a parent entering one, you’re probably not thinking…

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wcscpas Weyrich Cronin Sorra @wcscpas ·
13 Feb

"New nonprofits must ask the IRS to recognize their tax-exempt status. But should you file Form 1023 or Form 1023-EZ, the easier, less expensive option? Here’s some information to help you decide." https://bit.ly/3PDkHBb

wcscpas Weyrich Cronin Sorra @wcscpas ·
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"You may spend years building up your traditional IRA, but there is a time when you must start taking withdrawals. Here are answers to frequently asked questions about required minimum distributions." https://bit.ly/3C4uFbF