2023 Tax Prep, Planning & Strategy Insights

That email or text from the IRS: It’s a scam! | cpa in elkton md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

That email or text from the IRS: It’s a scam!

“Thousands of people have lost millions of dollars and their personal information to tax scams,” according to the IRS. The scams may come…
Reduce the impact of the 3.8% net investment income tax | tax accountants in cecil county | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Reduce the impact of the 3.8% net investment income tax

High-income taxpayers face a regular income tax rate of 35% or 37%. And they may also have to pay a 3.8% net investment income tax (NIIT) that’s…
Use the tax code to make business losses less painful | cpa in cecil county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Use the tax code to make business losses less painful

Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing…
Questions you may still have after filing your tax return | quickbooks consulting in hunt valley md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Questions you may still have after filing your tax return

If you’ve successfully filed your 2022 tax return with the IRS, you may think you’re done with taxes for another year. But some questions…
4 tax challenges you may encounter if you’re retiring soon | quickbooks consulting in elkton md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

4 tax challenges you may encounter if you’re retiring soon

Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s…
There’s a favorable “stepped-up basis” if you inherit property | tax preparation in harford county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

There’s a favorable “stepped-up basis” if you inherit property

A common question for people planning their estates or inheriting property is: For tax purposes, what’s the “cost” (or “basis”) an…

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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 ·
11 Feb

"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