Several sections of our book have discussed the various considerations of the mothership baby S Corp multi-entity arrangement. Another consideration is rather than the mothership being a multi-member limited liability company (MMLLC), it is a for-profit C corporation. Benefits? No mothership K-1. Cheaper increase of working capital. Among other benefits. More ..read more

Small business owners can face two payroll challenges. First, they might not know what their annual revenue will be until Halloween or so (think realtor or some other commissioned sales). Since reasonable salary amounts are somewhat dependent on the financial health of the business, seasonal or unpredictable revenue makes determining a salary amount on January 1 difficult ..read more

WCG specializes in real estate investors and as such we provide accounting services for rental properties. Rental properties are a business like any other, and the proper tracking of revenue and more importantly the associated expenses are essential. The bookends to the varying service levels are your common single-family rental (SFR) home and that large commercial property with several tenants ..read more

Let’s presume that you have a rental loss. Rental income is typically considered passive, meaning that you are not directly earning the income as you would with a W-2 job. Passive losses may be deducted from non-passive income such as wages, but there are limits (of course there are!). But wait! There’s more with the Net Investment Income Tax (NIIT) and how to avoid it ..read more

Dealing with taxes can be tricky, especially when it comes to IRS underpayment penalties. In 2024, these penalties are a bigger deal because the IRS recently bumped up the interest rate to 8% to align with the current landscape. This change means higher costs if you underpay your taxes ..read more

A lot of small business owners, especially solo operators, work from their home office. This is wonderful, however people change homes often and this can kickoff a bunch of address changes. IRS. State Revenue. State Payroll. FinCEN. Secretary of State. Yada yada! Here are the considerations ..read more

Cost segregation or costseg as the cool kids say allows you accelerate depreciation (and therefore lower taxes and increase cash) on real estate. With a cost segregation report or a cost segregation study (CSS), all the bricks are figuratively torn down and put into different piles. Cost segregation studies used to be for the rich and shameless with some reports being several thousands of dollars, but that is not the case with CostSegEZ ..read more

Real estate investment is one of WCG CPAs & Advisors core competencies, and as such we get asked a bunch of questions on rental property tax deductions. Most of those questions involve travel expenses, depreciation, repairs versus improvements and short-term rental loophole deductions. Before we get into all that, let’s take a moment and review some basics in taxpaying life ..read more

WCG CPAs & Advisors is thrilled to partner with BiggerPockets. Located in Denver, Colorado, BiggerPockets is the premier online resource for real estate investing and strategy. They started in 2004 primarily as an education resource for real estate investors, and have grown to have over 2,000,000 members who collaborate, share stories and help each other ..read more

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