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Section 199A Recap
By Jason Watson (Google+) Posted November 23, 2018 Section 199A Comparison Recap Hopefully you are still with us and not in the fetal position sucking your thumb. To hammer these points home, the Section 199A won’t help everyone and the S corporation still has some shine (although perhaps less...
05 May, 2019 Views: 0 Comments: 0
Electing S-Corp Filing Status, Retroactive for 2018
By Jason Watson (Google+) Posted May 5, 2019 Yes, you are able to engage in revisionist history and retro activate your S Corporation election to January 1, 2018, and have your income avoid a large chunk of self-employment taxes. Which year? Good question, and Yes, of course, it depends. First...
05 May, 2019 Views: 0 Comments: 0
S Corp Hard Money Facts, Net Savings
By Jason Watson (Google+) Posted May 5, 2019 Sales pitch alert! The Watson CPA Group specializes in S corporations which have a small number of shareholders, and often just a one-person show. Did you know that 95% of all S Corps have only one shareholder, and 99% of all S Corps have three or...
05 May, 2019 Views: 0 Comments: 0
Watson CPA Group Fee Structure
By Jason Watson (Google+) Posted May 5, 2019 The Watson CPA Group prides itself in being transparent and having a simple fee structure. Most business services and tax returns will fit into the fees described below. Sure, there's always the outlier or the unusual situation, but the following...
05 May, 2019 Views: 0 Comments: 0
S Corp Grind, Operational Hassles
By Jason Watson (Google+) Posted May 5, 2019 You’re probably thinking that running an S Corp adds all kinds of burdens. Not true. When we ask the appropriate questions and recommend an S Corp election, some clients will say, “Sounds like a lot of work.” There are very few additional...
05 May, 2019 Views: 0 Comments: 0
Section 179 and Bonus Depreciation
By Jason Watson (Google+) Posted November 23, 2018 Let’s talk about the Hummer Loophole since that is where most taxpayer confusion comes from. Yes, at some point, long ago, in a galaxy far far away, businesses could buy heavy trucks and deduct them 100%. Was this a loophole of sorts? Yes....
05 May, 2019 Views: 0 Comments: 0
Section 199A Specified Service Business Comparison Part 1
By Jason Watson (Google+) Posted May 5, 2019 Same online retailer but compared to an attorney (SSTB). Yuck! Retailer Attorney ln No S S Corp No S S Corp 1 Business Income 250,000 ...
05 May, 2019 Views: 0 Comments: 0
S Corp Section 199A Deduction Examples
By Jason Watson (Google+) Posted May 5, 2019 We are going to walk you through a handful of examples comparing non-S Corp scenarios such as sole proprietorships, single-member LLCs (disregarded entity) and other pass-through environments (partnerships) to those same situations being taxed as an S...
05 May, 2019 Views: 0 Comments: 0
Section 199A Frequently Asked Questions
By Jason Watson (Google+) Posted May 5, 2019 Here are some common questions and answers that have come up during recent consultations with clients. Some of these might be repetitive if you’ve been paying attention. Do I have to create an LLC to get the Section 199A deduction? No. It is...
05 May, 2019 Views: 0 Comments: 0
Qualified Property Anti-Abuse
By Jason Watson (Google+) Posted May 5, 2019 More cops and robbers. If you are finding yourself limited in Section 199A qualified business income deduction because of depreciable assets (2.5% of the unadjusted cost basis right after acquisition is the calculation), you might be inclined to buy...
05 May, 2019 Views: 0 Comments: 0