Tax Prep, Planning & Strategy Insights

New option for unused funds in a 529 college savings plan | cpa in baltimore md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

New option for unused funds in a 529 college savings plan

With the high cost of college, many parents begin saving with 529 plans when their children are babies. Contributions to these plans aren’t…
Answers to your tax season questions | tax accountant in harford county md | Weyrich, Cronin, and Sorra

Tax Prep, Planning & Strategy

Answers to your tax season questions

The IRS announced it will open the 2024 income tax return filing season on January 29. That’s when the tax agency will begin accepting and…
IRAs: Build a tax-favored retirement nest egg | tax accountant in elkton md | Weyrich, Cronin, and Sorra

Tax Prep, Planning & Strategy

IRAs: Build a tax-favored retirement nest egg

Although traditional IRAs and Roth IRAs have been around for decades, the rules involved have changed many times. The Secure 2.0 law, which was…
The standard business mileage rate will be going up slightly in 2024 | accounting firm in washington dc | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

The standard business mileage rate will be going up slightly in 2024

The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents…
Defer a current tax bill with a like-kind exchange | tax accountant in alexandria va | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Defer a current tax bill with a like-kind exchange

If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the…
2024 tax calendar | tax preparation in bel air md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

2024 tax calendar

To help you make sure you don’t miss any important 2024 deadlines, we’ve provided this summary of when various tax-related forms, payments…

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