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Deduct a loss from making a personal loan to a relative or friend | estate planning cpa in hunt valley md | Weyrich, Cronin & Sorra

Estate & Wealth Transfer Planning

Deduct a loss from making a personal loan to a relative or friend

Suppose your adult child or friend needs to borrow money. Maybe it’s to buy a first home or address a cash flow problem. You may want to help…
“Privacy, please” when your nonprofit stores sensitive data | accounting firms in baltimore | Weyrich, Cronin & Sorra

Non-Profits

“Privacy, please” when your nonprofit stores sensitive data

How well does your nonprofit protect the privacy of donors, staffers, clients and volunteers? It’s an important question because failure to…
Small business alert: Watch out for the 100% penalty | business consulting firms in dc | weyrich, cronin and sorra

Tax Prep, Planning & Strategy

Small business alert: Watch out for the 100% penalty

Some tax sins are much worse than others. An example is failing to pay over federal income and employment taxes that have been withheld from…
Turning stock downturns into tax advantages | tax preparation in harford county md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Turning stock downturns into tax advantages

Have you ever invested in a company only to see its stock value plummet? (This may become relevant in light of recent market volatility.) While…
Mitigate the risks: Tips for dealing with tariff-driven turbulence | tax accountants in cecil county | Weyrich, Cronin & Sorra

News

Mitigate the risks: Tips for dealing with tariff-driven turbulence

President Trump’s “Liberation Day” announcement of global tariffs caught businesses, as well as foreign countries and worldwide financial…
Ways to manage the limit on the business interest expense deduction | accounting firm in washington dc | Weyrich, Cronin & Sorra

Accounting & Assurance

Ways to manage the limit on the business interest expense deduction

Prior to the enactment of the Tax Cuts and Jobs Act (TCJA), businesses were able to claim a tax deduction for most business-related interest…

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wcscpas Weyrich Cronin Sorra @wcscpas ·
15 May

"You may feel you’re the head of your household if you’re married, single, divorced, a parent or child-free. However, only certain people can file a tax return with the favorable “head of household” status. Here are the rules." https://bit.ly/42kow5y

wcscpas Weyrich Cronin Sorra @wcscpas ·
13 May

"Unless you’re
eligible for an exception, you may not be able to deduct rental real estate tax losses for years. Here are the details of the exceptions." https://bit.ly/3ElLUGw