2025 Tax Prep, Planning & Strategy Insights

How will taxes affect your merger or acquisition? | cpa in elkton md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

How will taxes affect your merger or acquisition?

Whether you’re selling your business or acquiring another company, the tax consequences can have a major impact on the transaction’s success…
IRS issues guidance on Trump accounts | cpa in harford county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

IRS issues guidance on Trump accounts

The One Big Beautiful Bill Act (OBBBA) creates a new type of tax-advantaged account for eligible children. Section 530A accounts, also known…
New itemized deduction limitation will affect high-income individuals next year | accounting firm in cecil county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

New itemized deduction limitation will affect high-income individuals next year

Beginning in 2026, taxpayers in the top federal income tax bracket will see their itemized deductions reduced. If you’re at risk, there are…
Tax Court case provides lessons on best recordkeeping practices for businesses | tax accountant in hunt valley md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Tax Court case provides lessons on best recordkeeping practices for businesses

Running a successful business requires more than delivering great products or services. Behind the scenes, meticulous recordkeeping plays a crucial…
IRS releases critical guidance on calculating tips and overtime deductions for 2025 | accountant in bel air md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

IRS releases critical guidance on calculating tips and overtime deductions for 2025

The One Big Beautiful Bill Act (OBBBA) creates new income tax deductions for tax years 2025 through 2028 for qualified cash tips and overtime…
Understanding the most common IRS notices | accountant in bel air md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Understanding the most common IRS notices

For many taxpayers, receiving a letter from the IRS can feel intimidating. The envelope arrives with the IRS seal, and immediately, worry sets…

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wcscpas Weyrich Cronin Sorra @wcscpas ·
13 Jan

One long-held rule in the nonprofit sector says that fundraising events shouldn’t cost more than 30% of their net proceeds. Here’s how to limit expenses and make your gala as profitable as possible. https://bit.ly/48ysxF3

wcscpas Weyrich Cronin Sorra @wcscpas ·
8 Jan

Health Savings Accounts offer several valuable tax benefits. But you can contribute to one only if you have a high-deductible health plan. https://bit.ly/4ruKNIa