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folder Small Biz FAQs
Tax topics about LLCs, small businesses, partnerships and corporations including S-Corps.
folder Flight Crew FAQs
Tax topics for airline pilots and flight attendants including per diem deductions and travel expenses.
folder ExPat FAQs
Tax topics for expat taxes, taxes for expats and the foreign earned income exclusion.
folder Rentals FAQs
Questions and answers about rental properties and related tax issues including rental depreciation and rental deductions.
folder IRAs, 401ks, Investments
Tax questions involving IRAs, 401ks, SEPs, Roths, and other investment-tax related issues.
folder Homes, Real Estate
Tax questions involving your home and other property.
folder Mortgages, Bad Debts
Mortgage loans, deducting bad debts and other questions and answers about loans.
folder General FAQs
General questions and answers about the Watson CPA Group.
folder Education, Tuition Deductions
Education related tax questions and answers.
folder Medical, Health Insurance
Questions and answers concerning medical expenses and deductions.
folder Charitable Contributions
Facts about what you can deduct as charity and what you cannot plus required recordkeeping.
folder Recordkeeping
folder Audits
Audit risks and how to handle an unexpected audit including taxpayer rights.
folder General Tax Questions
Common tax questions and answers.


Recent Articles
 
document Recap of S-Corps
By Jason Watson (Google+) Here is a quick recap or summary of S-Corps, and why you might consider making the election- Must have an LLC or...
28 Dec, 2013 Views: 0 Comments: 0
document Audit Rates and Risks with an S-Corp
By Jason Watson (Google+) There are audits risks with any business form, and for any taxpayer. Typically taxpayers under $200,000 in income face...
28 Dec, 2013 Views: 0 Comments: 0
document Terminating S-Corp Election
By Jason Watson (Google+) S-Corps have relished being the class favorite for all kinds of reasons as stated in this article. However, the...
28 Dec, 2013 Views: 0 Comments: 0
document Other Tricks of the Trade with S-Corps
By Jason Watson (Google+) The big theme with S-Corps is payroll for shareholders, and what constitute reasonable payroll as an overall percentage...
28 Dec, 2013 Views: 0 Comments: 0
document Electing S-Corp Filing Status, Retroactive for 2013-2014
By Jason Watson (Google+) First you must be eligible to become an S-Corp for taxation purposes- you must have an partnership, LLC or C-Corp...
28 Dec, 2013 Views: 0 Comments: 0
document Rental Losses with an S-Corp
By Jason Watson (Google+) As mentioned earlier, K-1 income from an S-Corp will be reported on Schedule E of your personal tax return since it is...
28 Dec, 2013 Views: 0 Comments: 0
document Rentals Owned by an LLC Fallacy
By Jason Watson (Google+) Should you put a rental in an LLC? Sure. Why not? Everyone else does. The real answer is Perhaps. There are several...
28 Dec, 2013 Views: 0 Comments: 0
document Putting Your Kids on the Payroll
By Jason Watson (Google+) Perhaps. While most parents can’t get their kids to clean a counter or put away dishes, perhaps putting kids to work...
28 Dec, 2013 Views: 0 Comments: 0
document Health Care Expenses, Premiums, HRAs, HSAs - Section 105
By Jason Watson (Google+) An LLC or S-Corp allows you set up a plan to reimburse shareholders (and employees) for medical premiums and expenses...
28 Dec, 2013 Views: 0 Comments: 0
document Retirement Planning within an S-Corp
By Jason Watson (Google+) There are lots of options with retirement planning within your LLC or S-Corp, and this article only covers the basics....
28 Dec, 2013 Views: 0 Comments: 0


Most Viewed
 
document What do I do with a 1099-K?
By Jason Watson (Google+) Look out PayPal merchants, and the like. The IRS is on to you, and they’ve solicited help from intermediaries such as...
16 Oct, 2012 Views: 0 Comments: 0
document What is the difference between a hobby and a business?
By Jason Watson (Google+) The hobby versus legitimate business is a common question. We have written a series of KB articles on this topic as...
15 Dec, 2013 Views: 0 Comments: 0
document Hobby Versus Business Article
By Jason Watson (Google+) This KnowledgeBase posting has been superseded by a series of KB articles on the hobby loss topic. Please click on the...
15 Dec, 2013 Views: 0 Comments: 0
document What business or corporate expenses can I deduct?
By Jason Watson (Google+) The IRS uses two rules for determining if an expense is deductible- in general, you may deduct ordinary and necessary...
16 Oct, 2012 Views: 0 Comments: 0
document What is the difference between an LLC, S-Corp and a C-Corp?
By Jason Watson (Google+) They are all corporations, yet there are some subtle differences. Technically there are only two corporations, limit...
16 Oct, 2012 Views: 0 Comments: 0
document What are tax issues with an LLC owning a rental property?
By Jason Watson (Google+) None. However, if you elect to treat your LLC as an S-Corp you might run into another level of unnecessary taxation....
15 Dec, 2013 Views: 0 Comments: 0
document Can I deduct country club dues as a business expense?
By Jason Watson (Google+) No. But there is a small silver lining. The IRS in Publication 463 (Travel, Entertainment, Gift and Car Expenses) is...
16 Oct, 2012 Views: 0 Comments: 0
document Can I deduct my cell phone charges?
By Jason Watson (Google+) Yes, and you have always been able to. However, the Small Business Act of 2010 removed cell phones as “listed...
30 Oct, 2012 Views: 0 Comments: 0
document Can I deduct internet expenses?
By Jason Watson (Google+) Yes. Here is a snippet from a 2012 Tax Court Memo 2012-272- A taxpayer may deduct the cost of home internet service...
30 Oct, 2012 Views: 0 Comments: 0
document If my employer provides a cell phone, is that income?
By Jason Watson (Google+) Typically No. Since cell phones have been removed from the 'listed property' provision of the tax code, the IRS has...
30 Oct, 2012 Views: 0 Comments: 0