https://wcginc.com/kb-rental-property/rental-property-repairs-safe-harbor-revisited/
Rental Property Repairs Safe Harbor (revisited) - Rental Property - WCG CPAs & Advisors
There are three repairs safe harbors relevant to rental property owners and real estate investors- De Minimis, Small Taxpayers and Routine Maintenance.
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https://wcginc.com/blog/maximize-section-199a-deduction/
Maximize Section 199A Deduction - WCG CPAs & Advisors
To maximize Section 199A deduction requires balancing reasonable S corp shareholder salary and net business income. Magical number is 27.9%. See examples.
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https://wcginc.com/blog/section-199a-s-corp-benefits/
Section 199A S Corp Benefits - WCG CPAs & Advisors
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https://wcginc.com/kb-rental-property/charging-orders/
Charging Order LLC Liability Protection - WCG CPAs & Advisors
Instead of taking the LLC directly, a court can issue a Charging Order which allows the creditor to receive any distributions from the LLC. Learn more today.
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https://wcginc.com/kb-rental-property/real-estate-education-expenses/
Real Estate Education Expenses - Rental Deductions - WCG CPAs & Advisors
Real estate education expenses include conference organizers offering real estate investment and landlord-related classes, seminars and online education.
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https://wcginc.com/tax-center/payroll-details/
Payroll Details - WCG CPAs & Advisors
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https://wcginc.com/kb/missing-payroll-now-what/
Missing Payroll - Late S Corp Election - Now What - WCG CPAs & Advisors
S Corps need to pay a reasonable salary to the shareholders. What happens if December comes and goes, and you have missing payroll? Ask us.
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https://wcginc.com/kb/state-business-taxes-not-just-income-taxes/
State Business Taxes - Franchise Taxes - WCG CPAs & Advisors
State business taxes extend beyond income taxes, and typically include franchise taxes and pleasure to do business in our state taxes.
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https://wcginc.com/kb/operating-agreements/
Operating Agreements - Protect Yourself - WCG CPAs & Advisors
Operating Agreements are a must-have. A lot of wealth is tied up in the business and you need to protect yourself. We can help!
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https://wcginc.com/kb-rental-property/section-199a-rental-property-deduction/
Section 199A Rental Property Deduction - WCG CPAs & Advisors
Section 199A rental property deduction is a significant tax break for rental property owners but there are rules and limits of course.
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https://wcginc.com/kb-rental-property/chapter-4-introduction/
Chapter 4 Introduction - WCG CPAs & Advisors
Chapter 4 is a short chapter but how rental income is viewed by the IRS and when rental losses can (or can’t) be deducted.
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https://wcginc.com/kb-rental-property/glossary/
Rental Property - Real Estate Investment - Glossary - WCG CPAs & Advisors
We toss around a lot of terms and not always in the best order. As such, here is a quick glossary for our real estate investors and rental property owners.
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https://wcginc.com/kb-rental-property/rental-property-in-c-corporations/
Using C Corporations for Rental Properties - WCG CPAs & Advisors
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https://wcginc.com/kb-rental-property/schedule-c-versus-schedule-e/
Sched C or Sched E For Rental Property - Personal Services - WCG CPAs & Advisors
All rental properties including short-term rentals are reported on Schedule E and Form 8825 if filing as a partnership all day long, except-
rental propertyschedpersonal
https://wcginc.com/kb/trapped-assets/
Trapped Assets in Your S Corp - S Corp Disadvantages - WCG CPAs & Advisors
As the only shareholder of an S Corp, you think that everything the business owns you also personally own. You might have trapped assets.
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https://wcginc.com/kb-rental-property/1031-like-kind-exchange/
1031 Like-Kind Exchange - Depreciation Recapture - WCG CPAs & Advisors
You invoke Section 1031 to fully defer your capital gains tax including taxes associated with depreciation recapture. Daisy-chain real estate transactions.
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https://wcginc.com/blog/business-bookkeeping/
Small Business Bookkeeping - WCG CPAs & Advisors
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https://wcginc.com/blog/c-corps-remain-bad-idea-business-owners/
C Corps vs S Corps - C Corps Remain a Bad Idea - WCG CPAs
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https://wcginc.com/about-us/success-at-wcg/
Finding Success at WCG - WCG CPAs & Advisors
During the interview, while we are checking you out, you are checking us out. One of the questions we get asked is, Finding Success at WCG
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https://wcginc.com/blog/section-199a-final-regulations/
Section 199A Final Regulations Deeper Dive - WCG CPAs & Advisors
On January 18, 2019 the IRS and the Treasury Department released the Section 199A final regulations, including some much needed related guidance.
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https://wcginc.com/kb-rental-property/chapter-2-introduction/
Chapter 2 Introduction - WCG CPAs & Advisors
Chapter 2 expands on ownership strategies by exploring more nuanced, advanced structures that rental property owners might consider beyond the basic LLC.
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https://wcginc.com/about-us/social-hour/
Social Hour - WCG CPAs & Advisors
Jun 30, 2025 - Your tax and business consultation buddies at WCG let loose from time to time, and interact with each other on a social level. Tax season can be intense!
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https://wcginc.com/blog/crna-tax-deductions/
CRNA Tax Deductions - WCG CPAs & Advisors
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https://wcginc.com/kb-rental-property/rental-property-travel-deductions/
Rental Property Travel Deductions - WCG CPAs & Advisors
Rental property travel deductions associated with research (start-up), acquiring, maintaining and improving a rental property are all handled differently.
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https://wcginc.com/about-us/remote-work-arrangement/
Remote Work Arrangement - WCG CPAs & Advisors
Working remotely was necessary for many businesses and people loved it. But research shows that 100% remote work is not sustainable.
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https://wcginc.com/history-of-wcg/
History of WCG - WCG CPAs & Advisors
The history of Watson CPA Group starts off like many CPA firms; work for someone else, create a brand in your basement and eventually build a business.
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https://wcginc.com/business-services/self-employed-retirement-plans/
Solo 401k - Small Business Retirement Plan - WCG CPAs
Due to special tax rules, you can contribute more to a solo 401k plan than other comparable retirement plans. Dump that dinosaur SEP IRA!
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https://wcginc.com/kb-rental-property/buying-out-your-real-estate-partner/
Buying Out Your Real Estate Partner - 754 Election - WCG CPAs & Advisors
When you buy out your real estate partner, you might need a 754 election to equalize the inside and outside basis to minimize downstream capital gains.
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https://wcginc.com/kb/c-corporations/
C Corporations - Corporation Benefits - WCG CPAs & Advisors
C corporations are generally not tax efficient but there are times where they are needed. Find out when and why from us!
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https://wcginc.com/business-formation-services/
Business Formation Portal - S Corp Formation - WCG CPAs & Advisors
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https://wcginc.com/kb/book-introduction/
Book Introduction On Taxes - WCG CPAs & Advisors
This small business book is written in a conversational tone. If you like perfect prose and editorial exactness, we will be disappointing,
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FinCEN Beneficial Ownership Information - WCG CPAs & Advisors
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https://wcginc.com/tax-support/tax-resolution-services/
Tax Resolution Services - WCG CPAs & Advisors
Tax planning services are essential for two reasons - peace of mind during summer and sound decision-making based on tax strategies.
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https://wcginc.com/kb/recap-of-s-corp-downsides/
Recap of S Corp Downsides - S Corp Problems - WCG CPAs & Advisors
There are several S Corp downsides and problems. Some big. Some small. Most are fixable and are not deal killers. Ask us!
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https://wcginc.com/kb-rental-property/progressive-updates/
Tax Law Updates - WCG CPAs & Advisors
The tax law is continuously changing from the acts of our government including the decisions by the Tax Court and federal courts.
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https://wcginc.com/kb/putting-your-kids-on-the-payroll/
Putting Your Kids on Payroll: What You Need to Know - WCG CPAs & Advisors
While most parents can’t get their kids to clean a counter or put away dishes, perhaps putting your kids on payroll to work at the office is a good option.
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https://wcginc.com/kb/structuring-deals-with-angel-investors/
Deal Structure - Structure Angel Investment Deals - WCG CPAs & Advisors
We only scratch the surface on deal structures and angel investment arrangements as we illustrate several considerations. Learn more today.
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https://wcginc.com/kb/using-a-trust-in-your-formation-considerations/
Business Structures with a Trust - Multi-Entity Arrangement - WCG CPAs & Advisors
Use a trust in your multi-entity business structure to control future operations and the transition of ownership. Ask us for help.
multi entity arrangementtrust
https://wcginc.com/kb/loans-or-capital-injections/
Loans or Capital Injections - Loans to Your Business - WCG CPAs & Advisors
Business owners, at times, want their business to owe them money; this typically does not make sense and also can set you up for problems down the road.
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https://wcginc.com/kb/medical-c-corp/
Medical C Corp and QSEHRA - Medical Reimbursements - WCG CPAs & Advisors
Use a medical C Corp to avoid the limitations of a pass-through entity and shareholders for reimbursing medical expenses.
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https://wcginc.com/blog/reasonable-shareholder-salary/
Guide To Reasonable Shareholder Salary - WCG CPAs & Advisors
Nov 24, 2025 - One of the biggest headaches of electing to be taxed as an S Corp is calculating a reasonable shareholder salary. Keep it low, but not too low!
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https://wcginc.com/kb/exit-plans-business-succession/
Business Succession - Exit Strategies - WCG CPAs & Advisors
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https://wcginc.com/kb-rental-property/rental-property-repairs-safe-harbors/
Rental Property Repairs Safe Harbors - WCG CPAs & Advisors
There are three safe harbors relevant to rental property owners and real estate investors- De Minimis, Small Taxpayers and Routine Maintenance Safe Harbors.
rental property repairssafe
https://wcginc.com/kb-rental-property/automobile-deductions-with-rentals/
Rental Property Automobile Deduction - Travel Expense - WCG CPAs & Advisors
The rental property automobile deduction has only a few questions when considering an automobile purchase in connection with your rental property.
wcg cpas amprental property
https://wcginc.com/about-us/career-opportunities/payroll-support-role/
Payroll Support Role Description - WCG CPAs & Advisors
WCG is a tax and accounting firm located in Colorado. We have a wonderful team of professionals are we are always looking for others to join.
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https://wcginc.com/kb-rental-property/pass-through-versus-disregarded-entity-taxation/
Pass-Through Versus Disregarded Entity Taxation - WCG CPAs & Advisors
A disregarded entity is just that, disregarded for tax purposes. Activities will be reported directly on your Form 1040 as if the entity doesn’t exist.
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https://wcginc.com/kb-rental-property/passive-activity-loss-limits/
Passive Activity Loss Limits & Rules - WCG CPAs & Advisors
A long-standing rule is passive activity losses that exceed the passive activity income are disallowed for the current year and carried forward. Learn more...
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https://wcginc.com/blog/2025-wcg-india-team-tax-kickoff/
2025 WCG India Team Tax Kickoff - WCG CPAs & Advisors
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https://wcginc.com/kb/sep-ira-limitations/
SEP IRA Contribution Limitations for S Corps - W-2 Limits - WCG CPAs & Advisors
SEP IRA contribution limits for an S Corp might be limited since it is based on shareholder salary and not income. Find out more.
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https://wcginc.com/kb/introduction-disclaimer/
Introduction Disclaimer - WCG CPAs & Advisors
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https://wcginc.com/kb/accountable-plan-expense-reimbursements/
Accountable Plan Expense Reimbursements - S Corp - WCG CPAs & Advisors
Accountable Plan expense reimbursements are a great way to tax-free pull money out of your S Corp and reduce your overall tax liabilities.
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https://wcginc.com/other-services/retirement-planning/
Retirement Tax Planning - Retirement Tax Rate - WCG CPAs
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https://wcginc.com/business-formation-services/holdco-vs-managementco/
Holding Company vs. Management Company - WCG CPAs & Advisors
A holding company is not the same as a management company, and each has its benefits and warts. Learn more about what is best for your situation today.
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https://wcginc.com/tax-center/automobile-deduction/
Automobile Deduction Mini Portal - WCG CPAs & Advisors
Business structure is an importnant consideration especially when forming partnerships where revenue splits and ownership percentages might vary each year.
wcg cpas ampautomobilemini
https://wcginc.com/kb/chapter-4-introduction/
S Corp Disadvantages - Chapter 4 Introduction - WCG CPAs & Advisors
There are some S Corp disadvantages. Increased tax preparation fees, 401k limits, trapped assets, rigid owner distributions, among others.
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https://wcginc.com/other-services/wealth-management-firms/
Wealth Management Firms - Wealth Management Advisors - WCG CPAs
A wealth management firm should be your advocate by helping you achieve your financial goals. Read more here about what our wealth management advisors can do...
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https://wcginc.com/kb-rental-property/allowed-versus-allowable-depreciation/
Allowed Versus Allowable Depreciation - WCG CPAs & Advisors
A real estate investor does not want to mess with rental property depreciation for whatever reason and decides against deducting it on their tax returns.
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https://wcginc.com/kb/parent-child-arrangement-income-flows-up/
Multi-Entity Holding Company - Income Rolls Up - WCG CPAs & Advisors
You might have two business entities, and you want to combine them but they are also very different. Holding company absorbs the income.
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https://wcginc.com/kb/rcreports/
RCReports - Reasonable Compensation Reports - S Corp - WCG CPAs & Advisors
WCG uses RCReports or Reasonable Compensation Reports which is a consulting firm out of Denver, Colorado to help determine shareholder salary.
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https://wcginc.com/about-us/employment/
Accountants - Tax Accountants - Accountant Job Description - WCG CPAs & Advisors
Nov 25, 2025 - WCG is always interested in adding to our experienced team of accountants. Strong candidates will fit most of our accountant job descriptions.
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https://wcginc.com/kb/your-spouse-as-a-partner-happy-happy-joy-joy/
Spouse as a Partner - Small Business Pitfalls - WCG CPAs & Advisors
Adding your spouse as a partner. Should you form an LLC with your spouse? You might be one of 3 situations. Find the best business structure.
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https://wcginc.com/tax-center/state-income-apportionment/
State Apportionment - WCG CPAs & Advisors
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https://wcginc.com/blog/irs-underpayment-penalties/
Underpayment Penalties - IRS Tax Penalties - WCG CPAs & Advisors
Avoid costly IRS underpayment penalties in 2024. Learn how the new 8% interest rate impacts your taxes and get tips to avoid extra charges!
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https://wcginc.com/kb/shameless-self-promotion/
Shameless Self-Promotion - WCG CPAs & Advisors
If you read this self-promotion, arm yourself with knowledge and then ask pointed questions to your accountant and other professionals.
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https://wcginc.com/kb/s-corp-versus-llc/
S Corp Versus LLC - Differences - WCG CPAs & Advisors
S corp versus LLC is a common question. How are they different? How are they the same? Spoiler- an S Corp does not exist on its own. It is an election.
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https://wcginc.com/kb/social-security-basis/
Social Security Basis - S Corp Disadvantages - WCG CPAs & Advisors
K-1 income from your S Corp is not subjected to self-employment taxes and therefore will not count towards your Social Security basis.
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https://wcginc.com/blog/costsegez-is-wcgs-preferred-cost-segregation-provider/
CostSegEZ is WCG’s Preferred Cost Segregation Provider - WCG CPAs & Advisors
Use CostSegEZ for DIY cost segregation to accelerate depreciation (and therefore lower taxes and increase cash) on rental properties and real estate.
wcg cpas ampcost segregation
https://wcginc.com/kb/adding-your-spouse-to-payroll/
Adding Your Spouse to Payroll - Benefits and Problems - WCG CPAs & Advisors
We get calls and emails from business owners who ask about adding their spouse to payroll. Sounds like a good idea but there are things to be aware of.
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https://wcginc.com/kb/accountable-plan-requirements/
S Corp Accountable Plan - Tax Free Expense Reimbursement - WCG CPAs & Advisors
An Accountable Plan is a great way to reduce your S Corp tax liabilities and provide tax-free expense reimbursement to the owners.
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https://wcginc.com/tax-center/estimated-tax-payments/
Estimated Tax Payments - WCG CPAs & Advisors
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https://wcginc.com/kb/being-considered-a-passive-business-owner/
Being Considered a Passive Business Owner - WCG CPAs & Advisors
Business owners where they no longer materially participate in the business activity are considered passive investors. Why would you care?
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https://wcginc.com/blog/real-estate-professional-defined/
REPS - Real Estate Professional Defined - REP Status - WCG CPAs & Advisors
Why designate myself as a real estate professional? To deduct rental losses that would otherwise be carried forward or to avoid net investment income tax.
real estate professionalreps
https://wcginc.com/blog/address-changes-are-messy/
Address Changes Are Messy - Form 8822 - WCG CPAs & Advisors
Several small business owners work from their home office. But people change homes and have address changes which can be quite messy.
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https://wcginc.com/kb/nuts-and-bolts-of-the-s-corp-election/
S Corp Election Rules - Form 2553 Mechanics - WCG CPAs & Advisors
Know the S Corp election rules and Form 2553 mechanics. We can also help with a late S corporation election beyond the normal 75 days.
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https://wcginc.com/blog/section-199a-frequently-asked-questions/
Section 199A Explained & Frequently Asked Questions - WCG CPAs
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https://wcginc.com/tax-center/crna-1099-contractor-mini-portal/
CRNA 1099 Contractor - CRNA Tax Deductions - WCG CPAs & Advisors
Mini portal of various CRNA 1099 contractor considerations including tax deductions, traveling CRNAs doing locums, S corp election, etc.
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https://wcginc.com/kb/section-199a-qualified-business-income-tax-deduction/
Section 199A Qualified Business Income Deduction - WCG CPAs & Advisors
Section 199A Qualified Business Income Deduction (QBID) is massive reduction in taxes for small business owners. There are rules and limits.
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https://wcginc.com/kb/rental-partnerships/
Rental Partnerships - Short-Term Rental Loophole - WCG CPAs & Advisors
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https://wcginc.com/other-services/401k-rollover-options/
401k Rollover Options & Rules - Best Rollover Options - WCG CPAs
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https://wcginc.com/kb/minimize-tax-or-maximize-value-economic-benefit/
Minimize Tax or Maximize Value - Small Business Conundrum - WCG CPAs & Advisors
Rather than only trying to minimize tax, we encourage people to focus on building wealth first and if they can save taxes along the way, yay!
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https://wcginc.com/tax-center/tax-patrol-services/
Tax Patrol Services - WCG CPAs & Advisors
Tax Patrol is a wonderful tax service for those who don’t need all the business advisory hoopla but need some CPA love once in a while.
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https://wcginc.com/blog/pay-more-taxes/
Pay More Taxes - WCG CPAs & Advisors
This article will take building wealth one step further and broach a topic not often discussed- paying more taxes. Wait?! What?! Why?
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https://wcginc.com/tax-center/personal-tax-prep/
Individual Tax Return Preparation - 1040 Tax Prep - WCG CPAs & Advisors
WCG is from Colorado and as such we think of individual tax return preparation as green circles, blue squares and black diamonds.
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How to Annoy Your Tax Accountant in 6 Easy Steps - WCG CPAs & Advisors
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https://wcginc.com/blog/client-communications/
Client Communications - WCG CPAs & Advisors
Healthy relationships start with managing expectations, especially communications. Generally, we initially rely on emails and text messages.
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https://wcginc.com/kb/distributing-profits-multiple-owners/
Distributing Profits in an S Corp - Challenges - WCG CPAs & Advisors
Distributing profits to shareholders in an S Corp is done as a percentage of ownership whereas multi-member LLC’s use an Operating Agreement.
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https://wcginc.com/business-services/book/thank-book/
Thank You - Book Purchase - WCG CPAs & Advisors
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https://wcginc.com/kb/sole-proprietorship/
Sole Proprietorship - WCG CPAs & Advisors
The sole proprietorship is the easiest business form but it is inefficient. Understanding the differences is the key. Find out more.
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https://wcginc.com/kb-rental-property/acquisition-costs-revisited/
Acquisition Costs (revisited) - Rental Property - WCG CPAs & Advisors
There are several acquisition costs but the rub is that most expenditures associated with purchasing a rental property are depreciated or amortized.
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https://wcginc.com/blog/crash-course-on-investing/
Crash Course on Investing - Investing Basics - WCG CPAs & Advisors
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https://wcginc.com/kb/progressive-updates/
Progressive Updates - WCG CPAs & Advisors
The tax law is changing thru the acts of government, Tax and federal Court, or rulings from the IRS requiring progressive updates.
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https://wcginc.com/kb/additional-accounting-costs/
Additional S Corp Accounting Costs - S Corp Tax Return Fees - WCG CPAs & Advisors
The additional S Corp accounting costs include S Corp tax return preparation and processing reasonable shareholder salary. WCG can help.
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https://wcginc.com/kb-rental-property/chapter-8-introduction/
Chapter 8 Introduction - WCG CPAs & Advisors
Chapter 8 is another tactical tax planning chapter for rental property owners. The real estate professional status, or REPS, codified under IRC Section...
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https://wcginc.com/tax-center/getting-started/
Tax Preparation - Individual Tax Returns - WCG CPAs & Advisors
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https://wcginc.com/kb/s-corp-tax-return-preparation/
S Corp Tax Return Preparation - Filing Deadlines and Fees - WCG CPAs & Advisors
S Corp tax return preparation is similar to an LLC on an Schedule C, but the filing deadline is March 15 and must be done ahead of your 1040.
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https://wcginc.com/blog/small-business-accounting-methods/
Small Business Accounting Methods - WCG CPAs & Advisors
Many business owners ask if they should be cash or accrual when selecting the accounting method. Most should stick with cash to prevent tax shocks.
small business accountingwcg
https://wcginc.com/kb/take-money-out-of-the-s-corp/
How To Take Money Out of Your S Corp - Reimbursements - WCG CPAs & Advisors
There are various ways to take money out of your S Corp such as payroll, expense reimbursement, shareholder distributions and loans.
take moneycorpreimbursements
https://wcginc.com/kb/category/taxpayers-guide-to-llcs-and-s-corps/chap-1-business-entities-llcs/
Chap 1 - Business Entities, LLCs Archives - WCG CPAs & Advisors
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https://wcginc.com/kb/other-tricks-of-the-trade-with-s-corps/
Other Tricks of the Trade with S Corps - S Corp Tax Tips - WCG CPAs & Advisors
There are other tricks of the trade with S Corps such as adding spouse or kids to payroll, income shifting, among others. Ask us how.
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https://wcginc.com/kb-rental-property/real-estate-asset-setup-on-your-tax-returns/
Real Estate Asset Setup On Your Tax Returns - WCG CPAs & Advisors
When you setup your rental property on your tax return, you will likely have at least two but usually three assets- Land, Building + Acquisition, Loan Costs
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