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folder Taxpayers Guide to LLCs and S Corps
How to avoid or reduce self-employment taxes? LLCs and the S Corp election.
folder Small Biz FAQs
Tax topics about LLCs, small businesses, partnerships and corporations including S-Corps.
folder Rentals FAQs
Questions and answers about rental properties and related tax issues including rental depreciation and rental deductions.
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 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 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.
folder General FAQs
General questions and answers about the Watson CPA Group.


Recent Articles
 
document Reclassify Shareholder Distributions
By Jason Watson (Google+) Posted July 12, 2016 As we mentioned before, you don’t have to wait for payroll to buy groceries and pay bills. You...
12 Jul, 2016 Views: 0 Comments: 0
document Summary of Small Business Tax Deductions
By Jason Watson (Google+) Posted July 12, 2016 This chapter is huge, and has a ton of information in it and perhaps it is overwhelming. To...
12 Jul, 2016 Views: 0 Comments: 0
document Other Tricks of the Trade with S-Corps
By Jason Watson (Google+) Posted July 12, 2016 The big theme with S-Corps is payroll for shareholders, and what constitutes a reasonable salary....
12 Jul, 2016 Views: 0 Comments: 0
document Basic Business Entities
By Jason Watson (Google+) Posted August 16, 2015 There are four basic business entities, and within each there are some offshoots. The four basic...
12 Jul, 2016 Views: 0 Comments: 0
document Progressive Updates
By Jason Watson (Google+) Posted July 12, 2016 The tax law is continuously changing from the acts of our government, to the decisions by the tax...
12 Jul, 2016 Views: 0 Comments: 0
document Choosing Your Partner
By Jason Watson (Google+) Posted October 10, 2015 You might be one of three situations. First, you have a partner in your business already and...
08 Jul, 2016 Views: 0 Comments: 0
document About the Author
By Jason Watson (Google+) Posted July 2, 2016 Jason Watson is the Managing Member for the Watson CPA Group, a Colorado Springs tax, accounting and...
02 Jul, 2016 Views: 0 Comments: 0
document Avoiding or Reducing Self-Employment (SE) Taxes
By Jason Watson (Google+) Posted July 2, 2016 A common complaint from those who own their own business is self-employment tax. Can you avoid,...
02 Jul, 2016 Views: 0 Comments: 0
document Other Formation Considerations
By Jason Watson (Google+) Posted July 2, 2016 There might be some situations where layering or brother-sister or parent-child type of overall...
02 Jul, 2016 Views: 0 Comments: 0
document Other S Corp Salary Considerations
By Jason Watson (Google+) Posted July 2, 2016 The previous data showed significant savings using a 40% salary without self-employed health...
02 Jul, 2016 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