Tax Prep, Planning & Strategy Insights

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.…
Partners may have to report more income on tax returns than they receive in cash | accounting firm in bel air md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Partners may have to report more income on tax returns than they receive in cash

Are you a partner in a business? You may have come across a situation that’s puzzling. In a given year, you may be taxed on more partnership…
Businesses will soon be able to deduct more under the standard mileage rate | tax accountant in cecil county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Businesses will soon be able to deduct more under the standard mileage rate

Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide price of…

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