You’ve decided to open that retirement plan personally or through your small business – what now? Or maybe your friends at WCG created some tax savings that you would like to put to work. The world of investing sounds like a foreign language when listening to most financial advisors. At WCG we like to keep things simple ..read more

The STR loophole can be summarized easily- if your rental property has an average guest-stay of 7 nights or fewer, then it is considered short-term. Next, if you have a short-term rental, the losses especially during the early years are deemed non-passive and therefore deductible beyond the passive loss limitations ..read more

One of our primary focuses at WCG is ensuring you are paying the least amount of taxes allowed by law. Of course, right? Some of our other primary focuses are helping you build wealth and leverage the most of your financial worlds for you and your family. However, these focuses or objectives are not isolated; in our we discuss how they are very much related to each other and intertwined ..read more

At times inquiring minds ask us how to annoy their tax accountant for whatever reason. Being the helpful CPA firm that we are, WCG feels compelled to help those who ask. So, here it is- How to annoy your tax accountant in 6 easy steps ..read more

During tax planning season which is May, June and July, and then again in November and December, we get asked quite often “What else can I do to save taxes?” The real question is about cash, right? (not taxes) You can probably save at least $25,000 in taxes by sending $100,000 to the American Red Cross. Having said that, we created a fillable PDF as a checklist to ensure you are turning over every rock as you saves taxes and build wealth ..read more

WCG continuously reviews our services to ensure we are providing the best tax strategy with efficiency. Upon a lot of discussion and reflection, we are recommending that nomadic or traveling CRNAs do not operate as an S Corp. This includes any professional that provides direct services to clients or patients. Why ..read more

For those parents who either over-funded a 529 college savings account or where the funds were never needed, there is a provision in the allowing beneficiaries to perform a 529 to Roth IRA conversion starting in 2024. There are some rules ..read more

WCG recently brought back the FasTrac 1040 tax return preparation designed specifically for those taxpayers who have a straightforward tax footprint yet want the expertise of a CPA firm to prepare the tax returns. Our fee for FasTrac 1040 tax returns will be a flat $525. What qualifies as FasTrac and why is it missing a t and a k? We’ll answer the former first ..read more

The IRS postponed a SECURE Act provision that would require all those 50 or older who also earn more than $145,000 to be required to make catch-up 401k contributions into their post-tax (Roth) account. The can got kicked down the road until 2026 ..read more

Holding companies and management companies are not the same thing. One, as the name suggests, holds or owns underlying assets (other businesses). The other offers management services in exchange for fees, and typically doesn’t own underlying assets ..read more