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Automobile Decision Tree
By Jason Watson (Google+) Posted November 23, 2018 In deciding whether to own the automobile personally or through your S corporation, here is a set of examples to help you make a decision. It is not a hard and fast set of rules, but will provide some guidance. First, let’s establish the...
06 Dec, 2018 Views: 0 Comments: 0
Section 199A W-2 Safe Harbors
By Jason Watson (Google+) Posted November 23, 2018 This is one of the dorky accountant questions… which number on the W-2 do I use? The IRS defined three safe harbors for the use of Section 199 Domestic Production deduction back when that was a thing. Later, in IRS Notice 2018-64 released...
26 Nov, 2018 Views: 0 Comments: 0
You Own the Automobile, Lease Back to Your Company
By Jason Watson (Google+) Posted November 23, 2018 This might take a bit of getting used to so we will start with a similar situation. If you owned and operated a landscaping company, you might own the heavy equipment personally, and lease it back to the company. This is very common, and is...
25 Nov, 2018 Views: 0 Comments: 0
You Own the Automobile, Take Mileage Deduction
By Jason Watson (Google+) Posted November 23, 2018 This is dead. Thanks to the Tax Cuts and Jobs Act of 2017 all miscellaneous deductions that were once subjected to 2% adjusted gross income limits and then deducted on Schedule A are gone. Obtaining a tax deduction through a mileage deduction on...
25 Nov, 2018 Views: 0 Comments: 0
Section 199A Side by Side Comparisons
By Jason Watson (Google+) Posted November 23, 2018 We created a handful of examples on the follow pages with two intentions. One, to demonstrate how the Section 199A deduction is calculated and Two, to show that an S Corp remains a critical tax reduction vehicle. Brace yourself for nauseating...
25 Nov, 2018 Views: 0 Comments: 0
Final Words
By Jason Watson (Google+) Posted November 23, 2018 We hope you enjoy reading this book, and wish you the very best of luck in all your endeavors. If we can be of any assistance, please don’t hesitate to reach out to us! Taxpayer's Comprehensive Guide to LLCs and S Corps : 2019 Edition This...
25 Nov, 2018 Views: 0 Comments: 0
Expectations of Our Clients
By Jason Watson (Google+) Posted November 23, 2018 We select our clients on two important criteria. First, we expect our clients to be open, honest and responsive in communication. Second, we prefer to work with clients who view our partnership as a collaboration, where our challenges and...
25 Nov, 2018 Views: 0 Comments: 0
No BS
By Jason Watson (Google+) Posted November 23, 2018 We are not salespeople; we are consultants. 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. We see far too many crazy schemes and...
25 Nov, 2018 Views: 0 Comments: 0
Core Competencies
By Jason Watson (Google+) Posted November 23, 2018 Outside of typical business services, consultation and tax preparation, we have focused on three niche competencies for our group of Colorado Springs CPAs and business advisors. S Corp elections and administration. Rental properties...
25 Nov, 2018 Views: 0 Comments: 0
Consultative Approach
By Jason Watson (Google+) Posted November 23, 2018 How are we different? Easy! We take a consultative approach to our client relationships. We have the experience of a downtown firm without the stuffiness. The Watson CPA Group will be your advocate by putting you in a position to make informed...
25 Nov, 2018 Views: 0 Comments: 0