Tax Prep, Planning & Strategy Insights

The 2024 cost-of-living adjustment numbers have been released: How do they affect your year-end tax planning? | accounting firm in cecil county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

The 2024 cost-of-living adjustment numbers have been released: How do they affect your year-end tax planning?

The IRS recently issued its 2024 cost-of-living adjustments for more than 60 tax provisions. With inflation moderating slightly this year over…
Evaluate whether a Health Savings Account is beneficial to you | tax preparation in harford county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Evaluate whether a Health Savings Account is beneficial to you

With the escalating cost of health care, many people are looking for a more cost-effective way to pay for it. For eligible individuals, a Health…
The tax implications of renting out a vacation home | tax preparation in alexandria va | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

The tax implications of renting out a vacation home

Many Americans own a vacation home or aspire to purchase one. If you own a second home in a waterfront community, in the mountains or in a resort…
IRS offers a withdrawal option to businesses that claimed ERTCs | accounting firm in baltimore county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

IRS offers a withdrawal option to businesses that claimed ERTCs

Recent IRS warnings and announcements regarding the Employee Retention Tax Credit (ERTC) have raised some businesses’ concerns about the validity…
Plan now for year-end gifts with the gift tax annual exclusion | cpa in cecil county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Plan now for year-end gifts with the gift tax annual exclusion

Now that Labor Day has passed, the holidays are just around the corner. Many people may want to make gifts of cash or stock to their loved ones.…
Investment swings: What’s the tax impact? | accounting firm in cecil county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Investment swings: What’s the tax impact?

If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided…

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wcscpas Weyrich Cronin Sorra @wcscpas ·
16 May

"But the IRS also indicated in Notice 2024-35 that forthcoming final regulations for the rule will apply for the purposes of determining RMDs from such accounts in 2025." https://bit.ly/3UgSr9t

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