Tax Prep, Planning & Strategy Insights

4 types of interest expense you may be able to deduct | tax accountant in alexandria va | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

4 types of interest expense you may be able to deduct

Personal interest expense generally can’t be deducted for federal tax purposes. There are, however, exceptions. Here are four, one of which…
Parents: Claim all the tax credits you’re entitled to | accounting firms in baltimore | weyrich, cronin and sorra

Tax Prep, Planning & Strategy

Parents: Claim all the tax credits you’re entitled to

Raising a family comes with plenty of expenses, but it may also make you eligible for various tax breaks. Some of the most valuable are tax credits,…
Don’t miss your opportunity to make a 2025 IRA contribution — whether you can deduct it or not | Weyrich, Cronin & Sorra | accounting firm in hunt valley md

Tax Prep, Planning & Strategy

Don’t miss your opportunity to make a 2025 IRA contribution — whether you can deduct it or not

Generally, each year you can contribute up to the annual limit to a traditional or Roth IRA (or a combination of the two). But once the contribution…
If you’re married, should you file jointly or separately? | tax accountant in baltimore county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

If you’re married, should you file jointly or separately?

Married couples have a choice when filing their 2025 federal income tax returns. They can file jointly or separately. What you choose will affect…
IRS releases guidance on new depreciation deduction | tax accountant in baltimore county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

IRS releases guidance on new depreciation deduction

A new but temporary special depreciation allowance for qualified production property (QPP) was created by last year’s One Big Beautiful Bill…
To maximize — or not to maximize — depreciation deductions on your 2025 tax return | accounting firm in baltimore county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

To maximize — or not to maximize — depreciation deductions on your 2025 tax return

The deadlines for filing 2025 tax returns (or extensions) are fast approaching. Although most tax planning moves must be completed by December 31…

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wcscpas Weyrich Cronin Sorra @wcscpas ·
9 Apr

The rules for interest expense deductions for individual taxpayers are complex. Find out what you might be able to deduct on your 2025 income tax return. https://bit.ly/4t4zh6j

wcscpas Weyrich Cronin Sorra @wcscpas ·
7 Apr

Making a 2025 IRA contribution can provide tax savings today or when you take distributions in retirement. And you can benefit from tax-deferred or tax-free compounding. But the contribution deadline is coming up soon. https://bit.ly/3NqVQmK