Product Name: LLC S Corp Book – Rental Property Book – Published by WCG CPAs & Advisors
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LLC S Corp Book – Rental Property Book – Published by WCG CPAs & Advisors is backed with a 60 Day No Questions Asked Money Back Guarantee. If within the first 60 days of receipt you are not satisfied with Wake Up Lean™, you can request a refund by sending an email to the address given inside the product and we will immediately refund your entire purchase price, with no questions asked.
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Everything you need to help you launch your new business entity from business entity selection to multiple-entity business structures.
Designed for rental property owners where WCG CPAs & Advisors supports you as your real estate CPA.
Everything you need from tax return preparation for your small business to your rental to your corporation is here.
WCG’s primary objective is to help you to feel comfortable about engaging with us
Posted Monday, September 30, 2024
WCG CPAs & Advisors and Jason Watson, CPA, have released the 2025 Edition of Taxpayer’s Comprehensive Guide to LLCs and S Corps. Over 400 pages of pure pleasure! This edition has updated 2025 data such as IRA and 401k limits including Social Security wage limits, but it also has a bunch of new information spread out various chapters such as customized multi-entity structures, expanded reasonable shareholder salary sections, more tax reduction mechanics among various little tidbits gleaned from hundreds of small business consultations. Riveting!
How can I avoid self-employment taxes? This simple question was the inspiration for creating an article describing the benefits of an S Corporation. That original article, which was about four pages long, quickly became a series of Knowledge Base articles on the WCG website. The articles touched on basic topics such as how to elect S Corp status, shareholder payroll, reasonable salary determination and liability protection. Those broad topics demanded much more information, both horizontally by spanning into more related issues, and vertically by digging deeper into the granular yet riveting levels of the tax code. Beyond general S Corp benefits, our book will show you-
This book is written with the general taxpayer in mind. Too many resources simply regurgitate complex tax code without explanation. While in some cases tax code and court opinions are duplicated verbatim because of precision of the words, this book strives to explain many technical concepts in layperson terms with some added humor and opinions. We believe you will find this book educational as well as amusing.
Each week we receive several phone calls and emails from small business owners and other CPAs across the country who have read our Taxpayer’s Comprehensive Guide to LLCs and S Corps and praised the wealth of information. Regardless of your current situation, whether you are considering starting your own business or entertaining a contracting gig, or you are an experienced business owner, the contents of this book are for you. Here are some testimonials to make you feel better (of course we only picked the good ones… just like referrals)-
Ronny R. says, “I enjoyed it! Gave me lots to talk about with my CPA.“
Britt S., Esq. says, “Thank you so much for speaking with me last week! You are amazing and I greatly appreciate all of the information you emailed me. I am in complete adoration of your book!”
Lisa A. says, “Detailed information about the pros and cons of creating a small business. Lots of great detail about the tax benefits and consequences. NOT a ‘dummies’ book – it assumes you already have some background knowledge.“
Brett B. says, “I read your ‘Comprehensive S Corp’ book. Wow. You blew my mind. I thought I understood S Corps.”
Larry M. says, “I found it helpful, but could have gone into a little more detail. There is one main way to save money as an s corp, and how to determine ‘how much you can get away with’ could have been expanded on a bit more. Otherwise, pretty good guide.“
M.S. says, “Great read for first time self-employed corp owners. Covers all the main basic of taxes and caveats. Well written and simple to understand for those not well versed in tax law.“
While this book’s origins were based on reducing self-employment taxes through an S Corporation election, it has dramatically expanded to sound business advice from entity structures to operational considerations to business tax deductions and retirement planning.
Enjoy! And please send us all comments, hang-ups and static. This book is as much yours as it is ours, except the tiny royalty part- that’s ours. Stop by and we’ll buy you a beer with the pennies.
If you buy our 430-page book and think that we didn’t help you understand small business tax law or the benefits of S corporations, let us know. We never want you to feel like you wasted your money. If you are ready to add some insightful reading into your day, click on one of the preferred formats. Amazon is processed by Amazon, and the PDF is safely processed by ClickBank who will email you the PDF as an attachment.
Here is our PDF version of the book. 2021-2022 edition. Check it out today!
Explore LLC and S Corp guide excerpts from our 420+ page book with insights and helpful tips.
We have lots of additional material on the ins and outs of taxes. Check it out!
Determine a reasonable S Corp shareholder salary by avoiding extremes and using fluid guidelines.
Understand the differences between sole proprietorships, SMLLCs, and S Corporations for taxation.
Save on taxes with WCG! Expert S Corp elections, 100% success, even if you’re filing late.
I just got a rental, what do I do? Purchasing a rental property is certainly challenging, but operating one to build wealth and find tax efficiency is equally challenging. This is our second book. Our first book, Taxpayer’s Comprehensive Guide to LLCs and S Corps, was first published in 2014 and was well-received by small business owners and tax professionals, so we thought a book on rental properties and real estate investments would be equally helpful. So, here we are with our second iteration, or the 2025 edition. We plan to update annually.
Our rental property book starts with entity structures and moves into asset management such as acquisition, cost segregation, rental safe harbors, repairs versus improvements, accelerated depreciation, partial asset disposition, and 1031 like-kind exchange. From there we discuss various rental considerations like passive activity losses, short-term rental loophole, real estate professional status, and material participation including what time counts, and what time doesn’t count.
Finally, the good stuff! Rental property tax deductions such as travel, meals, automobiles, interest tracing, home office and common expenses. Fun!
WCG has a team of real estate CPAs ready to assist you with your rental property and real estate investments. Very few tax professionals and CPA firms specialize in real estate to provide you solid consultation, tax planning including tax reduction strategies, and tax return preparation. We are experts in-
This book is written with the general rental property in mind. Too many resources tell you the general rule but don’t bother to back it up with Internal Revenue Code, Treasury Regulations and Tax Court cases. Our book lays it all out, explains the madness, adds some humor and various conundrums.
Enjoy! And please send us all comments, hang-ups and static. This book is as much yours as it is ours, except the tiny royalty part- that’s ours. Stop by and we’ll buy you a beer with the pennies.
If you buy our 320-page book and think that we didn’t help you understand rental property tax laws, let us know. We never want you to feel like you wasted your money. If you are ready to add some insightful reading into your day, click on one of the preferred formats. Amazon is processed by Amazon, and the PDF is safely processed by ClickBank who will email you the PDF as an attachment.
Explore Rental Property guide excerpts from our 390+ page book with insights and helpful tips.
This is a good launching point for common real estate investment and rental property matters.
We have lots of additional material on the ins and outs of taxes. Check it out!
WCG CPAs & Advisors specializes in small businesses who generally have fewer than 25 employees. Why? We want to help people, and more importantly we want to help the business owner directly. Frankly speaking, once a business gets to a certain size management layers get in the way of owner access. Access allows us to ensure the owner(s) are leveraging the most out of their business for themselves and their families.
Because small business is a core competency for us, we have created business advisory service plans which include these really cool things-
Fees Updated! Our Business Advisory, Investor Patrol and Tax Patrol Service fees were updated August 2024, and we usually hold fees for at least two years (or through December 31, 2026) unless inflation skyrockets back to 9%.
Take time to view and learn more about our Sample Advisory Proposal
Once accepted, the Business Advisory Services, Tax Patrol Services or Investor Patrol Services proposal incorporates this Master Service Agreement (MSA).
Accurate estimated tax payments come from proper tax planning. There is nothing worse than the fear of the unknown since most human responses will be the worse case scenario.
Yeah, we all dislike the little asterisk. The gotcha! The fine print! Well, here is one of those situations. Pro-active and Pro-active Biz Tax Planning are different. Pro-active tax planning is limited (for individuals and households) and does not include business-entity tax planning and payments (California’s Franchise Tax, New Jersey’s BAIT, Portland’s overall madness, NYC, etc.), pass-through entity tax (PTET) calculations and payments, among other things. Not every business entity needs separate tax planning! Texas, No. California, Yes. Please see our Tax Planning Services page and Master Service Agreement for more information.Our Telluride Business Advisory plan includes the pro-active business tax planning plus interfacing with lenders, attorneys and financial planners.
Quarterly financial statements analysis is an add-on service, however it is included automatically if you use our accounting services.
See a sample of our Business Advisory Services proposal and scope of work.
Our proposals incorporate a Master Service Agreement (MSA) which is legal speak for fine print.
We explain how business advisory is different than tax and investor patrol including tax only engagements.
On one hand we have our Business Advisory Service plans which are very comprehensive yet might contain some services that not everyone needs such as salary optimization, payroll processing, multiple tax planning events, among other things.
On the other hand we have transactional relationships where clients come in each spring for tax return preparation, and that’s all they need. No questions. No tax planning. Just a pile of tax documents and a few discussions later and bada bing bada boom they have a tax return and a nice summer.
Is there an in-between? Boom! We have Tax Patrol (see below) and now Investor Patrol. We are ripping off the classic real estate investor game of Monopoly as our theme!
Investor Patrol is a wonderful tax service for those who don’t need all the business advisory bells and whistles, but desire pro-active tax planning and scenario-based decision making assistance from an experienced real estate CPA and tax consultant. Have a quick tax question? Need to know the depreciation rules as you furnish that new short-term rental? Want to kick around Real Estate Professional designation? Wondering what your April tax bill is going to be in August?
Investor Patrol is like ski patrol… you might not use it, but you sleep better knowing you have it. We offer three typical versions aptly labeled Houses, Hotels and Monopoly. However, each of these can be customized to fit your unique needs. For example-
You have 5 rentals, but only 1 state. That is likely the Houses platform below (versus Hotels).
* Depends on complexity of the rental property (short-term versus commercial versus long-term versus messy books versus good books)
Investor Patrol is specifically designed to give you the freedom to call, text or email us without the worry of being nickeled and dimed like other outdated CPA firms. And! We also provide a tax planning event (usually around May, June and July) where we gather up your financial records like paystubs, rental activities, stock sales, etc. and we create a mock tax return projecting your annual income and eventual tax obligations. We are not big on surprises… bad news in August is palatable, yet bad news on April 15 is unacceptable.Let’s not forget that Investor Patrol also includes IRS audit defense for any tax return that we prepare. Please review our full Investor Patrol Services webpage for all kinds of fine print for your consideration. It’s really not that much.
Also, please check out our rental property book titled I Just Got A Rental, What Do I Do? This is our second book. Our first book, Taxpayer’s Comprehensive Guide to LLCs and S Corps, was first published in 2014 and was well-received by small business owners and tax professionals, so we thought a book on rental properties and real estate investments would be equally helpful. So, here we are with our second iteration, or the 2025 edition. We plan to update annually.
Discover how REPS can avoid passive activity loss limitations and rules.
We take a deeper dive into all the ins and out of rental property tax preparation.
Take advantage of this tax loophole to deduct rental losses without qualifying as a real estate professional.
Let us handle the books so you can focus on growing your rental property kingdom.
Why holding rentals in partnerships can reduce audit risk and support defensible tax deductions.
Learn more about our partnership (Form 1065) tax return preparation.
We also have Tax Patrol! This is another wonderful tax service for those who don’t need business advisory services or real estate investment support, but from time to time want some love from an experienced tax consultant and business advisor. Have a quick tax question? Need to know the depreciation rules as you buy that new car? Wondering what your April tax bill is going to be in August? Your spouse upgraded to a different job- how is that going to affect things? You received a big bonus- yay, but how will that impact your tax bill?
Here are some quickie FAQs to learn more about WCG CPAs & Advisors, and how we do business-
Nope. We have a t-shirt that reads, “Hate extensions. Love our summers.” We file 70% of our tax returns by April 15, and only extend per the client’s request or if there is missing data such as a rogue K-1. We’ll go as quickly as you let us! Also, we don’t have A listers… we prepare tax returns in first-in first-out sequence. Sure, we leave room for emergencies or other issues that allow for jumping the line.
Good question! Our Business Advisory Service plans (Vail, Telluride and Aspen) are more advisory forward like a robust old-fashioned with lots of planning, tax strategies and business consultation to help you make decisions. Our Tax Patrol Services (Keystone, Copper and Breck) are more tax return preparation forward like a refreshing vodka-lemonade with less tax planning, or at least less-intensive planning and consultation.
Investor Patrol Services for our rental property owners and investors is somewhere in-between since real estate is a business like any other requiring more planning, strategy and consultation but falls short of needing shareholder payroll planning and processing.
Up to you! In the past, we would pro-actively schedule quarterly meetings with all Business Advisory, Investor Patrol and Tax Patrol clients, but it was cumbersome for everyone. Today, we generally connect at least 3 times a year in a meaningful way. Once for tax return preparation, once for tax planning and then another for a myriad of reasons (“hey, I am buying a car” or “hey, we sold a rental”). This is all back-filled with emailed correspondence and touch-ups throughout the year. Having said that, with routine consultation offered above, your goal is to extract everything you need from us.
We prefer scheduled meetings over Teams. Check out our CPA Concierge Service as well. Priority boarding. HOV lane. Early check-in.
We rely heavily on emails and text message alerts. However, we do not have an allergy to the telephone. During friendly hours (let’s say 8AM to 7PM including weekends) we will usually call first if we have a question or need clarification. We are committed to responding to your email within 3 business days.
To get work chores done, the tax team responds to emails on Mondays and Thursdays only (what we call our “comms” days). Other teams such as payroll and accounting have similar email cadences.Have an emergency or need an answer sooner? Call us! So much can be done in short order with a phone call (please keep in mind that scheduled meetings is still ideal to ensure availability and readiness).
For tax, we have two-person teams so there is always a backup. Teams are assigned based on who first spoke with you, bandwidth and subject matter expertise. We also have accounting, payroll and business formation / governance. As such, you might have 4 people you work with. Yay! The two tax peeps, and if applicable, a payroll peep and an accounting peep (if you are using our Accounting Services team for bookkeeping + analysis). We also have dedicated Client Support and Tax Support teams to… well… support you and the other teams.
Are you interested in business advisory services? Just tax return preparation? Do you own a rental property and need assistance? Let’s chat!
Let’s schedule a 20-minute discovery meeting with one of our Partners or Senior Tax Professionals to understand your tax footprint and objectives, and how WCG CPAs & Advisors might help.
Need to get in touch through a quick text? We’ll respond back within a day and get going!
Need to speak to a tax professional now? Give us a call 719-387-9800 and we’ll get you connected.
Taxes can be tricky. Chat with a WCG human now and get questions answered.
The following are additional business services to get your venture launched and on the way. Some of these are teased out separately as one and done fees like formation and onboarding stuff.
Fine Print: Starting accounting service fees are based on 2 bank accounts (one checking account and one credit card is 2 accounts) with less than 250 monthly transactions. Our fee does not include the QBO subscription fee from Intuit. Custom quote is available if you have a lot going on such as third-party integrations (POS, time billing system), accrual accounting method, extensive benefits packages and / or industry specific issues (e.g, job costing in construction). The first step for Accounting Services is to do an accounting assessment with one of our experts to determine scope, service level and ultimate fee (see button below).
Even Finer Print: Employee payroll can be added only if already using our Business Advisory Service plans above (e.g, Vail). Custom quote for more than 15 employees and a referral to therapy or a script for Excedrin.
Our entity relocation package includes closing your current payroll accounts, opening shiny new ones, moving your entity with the Secretary of State (if applicable) and updating addresses as necessary.
Speaking of address changes… these are tough. Basic address changes require IRS, State Department of Revenue and Secretary of State notifications. Address changes that include payroll add another level of complexity since departments of revenue are not the same as departments of labor, and there might be local or municipal agencies as well.
Best reason to use a small business accountant is to allow you to do what you do best with your time.
Learn how WCG can help you with your Accounting Assessment needs.
Determining a reasonable shareholder salary and reasonable officer compensation is the murkiest part of running an S corporation.
Business entity selection is important, but it is not cast in stone. Many businesses often start off as one entity type, and then later convert.
A lot of small business owners, especially solo operators, work from their home office.
The S Corp election takes your LLC (or PLLC or C Corp or PC) and changes the way it is taxed to reduce self-employment taxes. The underlying entity remains intact. Only the way it is taxed changes.
We make very little profits on payroll processing… we offer it as a convenience to our clients. One throat to choke with a single call can be reassuring but if you want to run your payroll, go for it! Everyone thinks payroll is a piece of cake; write a check and done. Nope… we see a lot of mistakes being made by small business owners especially the handling of self-employed health insurance and HSA contributions since there are special rules for greater than 2% S Corp shareholders. Then again, we don’t mind fixing what was broken.
You can prepare your own individual tax return as well… but the benefit WCG preparing both individual and business tax returns is that can we slide things around depending on income limitations, phaseouts, alternative minimum tax (AMT), Section 199A deduction optimization, pass-through entity tax deductions (PTET), etc. Having our arms around both worlds can yield some good tax savings!
Note: An individual tax return is what the IRS calls Form 1040 and refers to the entity filing the tax return (you, the individual, are the entity). However, a married couple are deemed to be one entity for the sake of an individual tax return. So, when we say we will prepare your individual tax return, it is meant to include your spouse in a jointly filed happy happy joy joy tax return.
This doesn’t factor in the lower audit rate of S Corps versus Schedule C activities, plus the ability to use business funds to pay for your state income taxes otherwise known as the Pass-Thru Entity Tax Deduction (PTET) or the great SALT workaround.
We are not salespeople. We are not putting lipstick on a pig, and trying to convince you to love it, even if Tom Ford’s Wild Ginger looks amazing. Our job remains being professionally detached, giving you information and letting you decide.
Moreover, many CPAs and tax professionals thrust their risk aversion onto their clients. This is bad. At WCG CPAs & Advisors we must perform our due diligence and hurdle our ethical and professional standards. However, after those gymnastics we present a risk-based analysis to the tax return and let you, the client and taxpayer, decide how to proceed. Having said that, we don’t entertain tax scammers or those who can take down the ship. Arthur Anderson anyone? No thanks.
We also see far too many crazy schemes and half-baked ideas from attorneys and wealth managers. In some cases, they are good ideas. In most cases, all the entities, layering and mixed ownership is only the illusion of precision. Just because you can complicate the crap out of your life doesn’t mean you must. Just like Chris Rock says, just because you can drive your car with your feet doesn’t make it a good idea.
Here is a brief summary of the next steps should you want to engage WCG with Business Advisory Services or Tax Patrol-
Your corporation or LLC taxed as S Corp shouldn’t change much but there are some gotchyas.
WCG are business consultants first and accountants second.
Late S Corp election can easily be done well into 2025 for 2024 but there are hiccups.
As mentioned elsewhere we primarily focus on small business owners and their unique consultation and tax preparation needs. With over 60 full-time consultation professionals including Certified Public Accountants, Enrolled Agents and Certified Financial Planners on your team, WCG CPAs & Advisors consults on custom business structures, multiple entity arrangements, S corp elections (even late S corp elections back to January), tax strategies, business coaching, industry analysis, executive benefits, retirement planning including individual 401k plans, exit strategies, business valuations, income tax planning and modeling, and tax representation.
We also work with business law attorneys for business owners who have additional needs such as drafting Operating Agreements, fee for service contracts, buying or selling a business including employee stock ownership plans and partner buy-ins. In addition, WCG coordinates with third party plan administrators create age-based profit sharing plans and cash balance (defined benefit) plans. We can run point on whatever your business needs to ensure that communication is effective and efficient allowing you to sell widgets.
Here are some additional resources you might find useful.
Yes, you want to get a little extra from your hard work and you want this to be tax-advantaged.
Accurate estimated tax payments come from proper tax planning. There is nothing worse than the fear of the unknown since most human responses will be the worse case scenario.
Learn more about how WCG can help you with business tax deductions.
WCG has been remotely preparing tax returns since 2007 using secure online client portals, text messaging, videoconferencing, and other technologies.
Everything you need from small business tax preparation to S Corp elections to payroll to accounting is located here. Need consultation?
Welcome to the Tax Center Portal! Everything you need from tax return preparation for your small business to your rental to your corporation is here.
WCG CPAs & Advisors is a full-service yet boutique progressive tax, accounting and business consultation firm located in Colorado serving clients worldwide.
We also have a short list of additional fees that might be incurred depending on your tax and accounting situation, and your level of readiness-
Wow! We really belabored the heck out of those hourly rates there at the end, didn’t we? All in the interest of tax preparation fee transparency of a growing firm.
Also! Please keep in mind that we pride ourselves in not being the nickel and dime type of tax and accounting firm. Typically, we can offer a fee range or a maximum limit for our services and fees to keep your tax prep cost where you want it. This is what we do all day, every day! We have a solid understanding of what it takes to complete a project successfully.
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Everyone loves loopholes, right? The Hummer loophole was recently popular again with 100% bonus depreciation. The older kid on the
Is it silly to write in the first-person? Probably. According to a 2022 Harvard Business Review article, a study of
There is a ton of chatter about time trackers and REPS logs including STR hours. Spreadsheets with dropdowns, conditional formatting,
URGENT: No later than March 21, 2025, FinCEN intends to issue an interim final rule that extends BOI reporting deadlines,
With state apportionment and tax return preparation, there are two issues at play- apportionment itself, and then state tax return
With state apportionment and tax return preparation, there are two issues at play- apportionment itself, and then state tax return
Jason Watson, Terra Plamp and Beth Buchanan just returned from Ahmedabad, India to meet with our 23-person team on the
Cost segregation or costseg as the cool kids say allows you accelerate depreciation (and therefore lower taxes and increase cash)
Dealing with taxes can be tricky, especially when it comes to IRS underpayment penalties. In 2024, these penalties are a
Why designate myself as a real estate professional? Aside from being something cool to tell the grand kids, let’s presume
WCG CPAs & Advisors has more than 160 Certified Registered Nurse Anesthetists as 1099 contractors (aka business owners), and it is
You are buying real estate for business or rental use. Usually, you can depreciate the entire purchase price, minus the
A lot of small business owners, especially solo operators, work from their home office. This is wonderful, however people change
We are just coming out of tax season with a stack of notes with mostly good ideas, and likely some
WCG CPAs & Advisors is thrilled to partner with BiggerPockets. Located in Denver, Colorado, BiggerPockets is the premier online resource for
As you consider your tax planning strategies this year, please be aware that you might live in a state that has
WCG CPAs & Advisors receives about 2-3 emails or phone calls (and the occasional text) per week from people saying, “I
You’ve decided to open that retirement plan personally or through your small business – what now? Or maybe your friends
While WCG clients are wonderful, occasionally a client of another CPA firm will ask us for advice. How should I
Yeah, you’re reading that right. Our website and various articles express ways to save on taxes, but they also had
For those parents who either over-funded a 529 college savings account or where the funds were never needed, there is
Healthy relationships start with managing expectations, especially communications. Generally, WCG relies on emails and text messages as our initial communication
Summer is tax planning time and we get a lot of questions about solo 401k contributions, and whether they should
Tax planning strategies are commonly addressed in December as small business owners and other taxpayers start to freak out about
WCG has recently introduced a new bookkeeping function for business owners as your Fractional Controller. We will use Bench as
The hot question since the passage of the Tax Cuts & Jobs Act of 2017 and Section 199A is, “Should
The history of WCG CPAs & Advisors starts off like many CPA firms. Tina Watson obtained her CPA license in May 2003.
With everyone freakin’ out about the Coronavirus (and me recovering from Deschutes Virus from their amazing IPA), perhaps it is time to
The SECURE Act which stands for Setting Every Community Up for Retirement Enhancement of 2019 was signed December 20, 2019 as part
Small business tax deductions are critical for reducing taxable income. The tax code and the IRS basically say, “Hey, we
Recently we had a foot and ankle physician group in Rhode Island complete two different RCReports interviews to determine a
WCG (formerly Watson CPA Group) just recorded its first small business podcast on business entity formations and considerations, and we
Home is where the heart is. But as the economy shifts and embraces remote work, more and more people find
Having your LLC elect S corporation taxation is fairly easy. But like King George in Hamilton, “What comes next?” The S
One of the biggest headaches of electing to be taxed as an S Corp is calculating a reasonable shareholder salary.
The Section 199A deduction was derived from the Tax Cuts and Job Acts and, thanks to our Congress, is one
We are living in the age of the “side hustle.” Talk to ten of your friends and colleagues, and chances
Some say that the best nation is a “donation!” While that might make you laugh (and hopefully this blog post
Being designated a specified service trade or business, or SSTB for short, for some business owners can appear like punishment.
As mentioned elsewhere in our website and book, we encourage people to focus on building wealth and if they can
Many business owners ask if they should be cash or accrual when selecting the accounting method within their accounting package.
Exit strategies or succession planning usually consider employee ownership as a strong possibility. It is a difficult decision for most
On January 18, 2019 the IRS and the Treasury Department released the Section 199A final regulations, including some related guidance such as IRS Notice
Accountable Plans WCG (formerly Watson CPA Group) and our team of business consultants field a lot of questions about home
When comparing business activities on a Schedule C versus an S Corp election, one of the gripes is the reduction
Section 199A provides a huge tax deduction for small business owners. S Corps provide a huge tax reduction in the
Section 199A offers a 20% deduction for small business owners, but are rental properties considered a trade or business? The
The Tax Cuts and Jobs Act of 2017 created a new tax deduction for business owners (and others) called the
On August 8, 2018, the IRS published proposed regulations to help better explain the Section 199A Qualified Business Income Deduction including anti-abuse
WCG (formerly Watson CPA Group) just released the 2019 Edition of our book on LLCs and S Corps. We did
The Tax Cuts and Jobs Act of 2017 created a new tax deduction for business owners (and others) called the
WCG (formerly Watson CPA Group) is excited to announce Stephanie Torgerson as our new Payroll Manager. Processing payroll and payroll
Good news from the IRS. They recently released Notice 2018-76 which essentially restores the business meals tax deduction that small business owners
WCG (formerly Watson CPA Group) primarily focuses on small business owners and complex individual tax returns. Since we prepare hundreds
WCG (formerly Watson CPA Group) employs both Certified Public Accountants and Enrolled Agents. We get the “what is the difference
This is reprinted from a recent USA Today Article: The United States is enjoying an era of unprecedented wealth and prosperity.
The Section 199A qualified business income deduction is a wonderful offspring from the Tax Cuts and Jobs Act of 2017.
We get a lot of calls and emails from business owners who ask about adding their spouse to payroll. There
We often get the question What is my tax home? It is a tricky question… and it is one that
Joint Committee on Taxation We have new tax law. Yay! But what does it all mean? Who knows! Oftentimes the
Two recent tax court cases highlight the difficulty in deducting advanced degrees as qualified education expenses. The rule is quite
The United States Supreme Court in a 5-4 decision (aren’t they all 5-4 decisions, usually along party lines?) in South Dakota
Given the new meals and entertainment landscape (and uncertainty) from the Tax Cuts and Jobs Act (TCJA) of 2017, we
Tax planning season is here! Let’s schedule a time to review tax reduction strategies and generate a mock tax return.
Tired of maintaining your own books? Seems like a chore to offload?
Did you want to chat about this? Do you have questions about your S Corp or rental property investment? Let’s chat!
The tax advisors, business consultants and rental property experts at WCG CPAs & Advisors are not salespeople; we are not putting lipstick on a pig expecting you to love it. Our job remains being professionally detached, giving you information and letting you decide within our ethical guidelines and your risk profiles.
We see far too many crazy schemes and half-baked ideas from attorneys and wealth managers. In some cases, they are good ideas. In most cases, all the entities, layering and mixed ownership is only the illusion of precision. As Chris Rock says, just because you can drive your car with your feet doesn’t make it a good idea. In other words, let’s not automatically convert “you can” into “you must.”
Let’s chat so you can be smart about it.
We typically schedule a 20-minute complimentary quick chat with one of our Partners or our amazing Senior Tax Professionals to determine if we are a good fit for each other, and how an engagement with our team looks. Tax returns only? Business advisory? Tax strategy and planning? Rental property support?
Need to get in touch through a quick text? We’ll respond within a day.
Need to speak to a tax professional now? Give us a call 719-387-9800 and we’ll get you connected.
Taxes can be tricky. Chat with a WCG human now and get questions answered.
WCG Inc. dba WCG CPAs & Advisors | 2393 Flying Horse Club Drive, Colorado Springs, CO 80921 | 719-387-9800 tel, 855-345-9700 fax, 719-345-2100 txt | WCG Inc. (License FRM.5000080) is supervised by Tina Denise Watson, CPA (License CPA.0022434) | XML Sitemap | Services Sitemap | Knowledge Base Sitemap
Everything you need to help you launch your new business entity from business entity selection to multiple-entity business structures.
Designed for rental property owners where WCG CPAs & Advisors supports you as your real estate CPA.
Everything you need from tax return preparation for your small business to your rental to your corporation is here.
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