Weyrich Cronin Sorra

Maryland accounting firm-expertise in tax/accounting services, dental accounting, forensic accounting/bus. valuations, municipalities & nonprofit organizations.

[Weyrich Cronin Sorra @WCScpas]

C corporation shareholders usually owe tax on gains from selling stock. But with qualified small business (QSB) stock, owners hold the key to a potential gain exclusion. Is this strategy right for your business? https://t.co/c0xTNfZ1pc

[Weyrich Cronin Sorra @WCScpas]

Renewals thrive when members feel connected, valued and inspired. These strategies can help your nonprofit increase membership retention. https://t.co/siTnEaJZis

[Weyrich Cronin Sorra @WCScpas]

Certain small businesses may qualify for various federal tax breaks. But different tax provisions use different size tests. Read on to learn more about big tax breaks for small businesses that meet one such test. https://t.co/cuUa0JsWd5

[Weyrich Cronin Sorra @WCScpas]

A change in state residency has tax implications beyond income taxes. Find out what tax factors to look at before relocating. https://t.co/uIZaBH22LP

[Weyrich Cronin Sorra @WCScpas]

Board term limits can strengthen governance with fresh perspectives and more collaborative leadership. But they also come with drawbacks. Learn how to design the right approach for your nonprofit. https://t.co/He3AyLtD6B

[Weyrich Cronin Sorra @WCScpas]

Beware, small business owners: As your workforce grows, ACA compliance can become a costly surprise without proper planning. https://t.co/JmsVGstedb

[Weyrich Cronin Sorra @WCScpas]

How you move money into your C corporation today can shape your tax outcomes tomorrow. Here’s why making bona fide loans to your business can be a tax-smart move. https://t.co/lfs81MAjSl

[Weyrich Cronin Sorra @WCScpas]

If your nonprofit relies heavily on a few funding sources, it may be time to diversify your revenue streams. Here’s how. https://t.co/d5owo94z1m

[Weyrich Cronin Sorra @WCScpas]

To minimize potential interest and penalties and maximize tax-saving opportunities, look beyond April 15 to the tax-related deadlines you may face for the rest of 2026. https://t.co/Eo7SqcQPuE

[Weyrich Cronin Sorra @WCScpas]

LLC and LLP owners: Can you deduct your business losses this year? The answer may depend on whether your activity is considered passive under the IRS’s passive activity loss rules. https://t.co/yOa1saqVDF

[Weyrich Cronin Sorra @WCScpas]

Suspected employee fraud can shake any nonprofit. But a thoughtful, well-coordinated response can help mitigate the impact and safeguard your mission. For some practical steps, start here. https://t.co/j0mC52DeS3

[Weyrich Cronin Sorra @WCScpas]

There are a few more things to do once you’ve filed your 2025 income tax return … https://t.co/GiS7QYxg4W

[Weyrich Cronin Sorra @WCScpas]

For many businesses, the calendar year is the default setting for tax reporting. But in some situations, a different year end may be the smarter choice. https://t.co/Okol6vEjCJ

[Weyrich Cronin Sorra @WCScpas]

When nonprofit leaders embrace accountability, it can transform the organization. Start with clear ethics, strong leadership and transparent communication. Here’s how. https://t.co/wjwRshCTM6

[Weyrich Cronin Sorra @WCScpas]

Grace periods for calendar-year flexible spending accounts (FSAs) are ending soon. If employees haven’t spent their 2025 FSA balances, unused amounts may revert to the employer. Here’s what IRS rules allow your business to do with forfeited funds. https://t.co/8vMUwCv33m

[Weyrich Cronin Sorra @WCScpas]

The IRS has issued final regulations that provide guidance on the tax deduction for qualified cash tips. Learn what’s new. https://t.co/5EXhbs5aWW

[Weyrich Cronin Sorra @WCScpas]

From ensuring regulatory compliance to uncovering insights into program and staffing costs, proper timekeeping can enhance your nonprofit’s decision-making. Learn more. https://t.co/O3wOlCJ5UJ

[Weyrich Cronin Sorra @WCScpas]

If your business uses the accrual method of accounting and received advance payments in 2025, you may be able to defer reporting some or all of that income until 2026 for federal tax purposes. https://t.co/D1Wa09FE9v

[Weyrich Cronin Sorra @WCScpas]

Nonprofit boards: big, small or somewhere in between? There’s no magic number, but here’s what you should consider. https://t.co/JME4s6ECgm

[Weyrich Cronin Sorra @WCScpas]

It’s never too early to organize your tax documents. https://t.co/TmuKIW5u6V