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document More About the Watson CPA Group
By Jason Watson (Google+) Posted October 25, 2016 The Watson CPA Group has provided worldwide business consulting, accounting and tax preparation from our Colorado Springs offices since 1997. We use secure client portals to safely exchange financial information, saving you time and resources. In...
25 Oct, 2016 Views: 0 Comments: 0
document Tax Consultation Business Advising, S Corp Consult
By Jason Watson (Google+) Posted October 25, 2016 The Watson CPA Group offers tax and small business consultation in-person, telephone or Skype. We love to Skype... faces, inflections, all the good stuff for our long distance clients. We will answer general questions for 10-15 minutes at no...
25 Oct, 2016 Views: 0 Comments: 0
document Turbo Charged 401k Plans
By Jason Watson (Google+) Posted October 25, 2016 Oftentimes business owners want to put away a ton of money in a small business 401k plan, but cannot due to inherit limitations within the plan. Or business owners want to keep most of the plan money for themselves, which is shocking yet natural....
25 Oct, 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 reiterate information from the beginning of this chapter there are some over-arching themes and concepts for all small business deductions. The business...
25 Oct, 2016 Views: 0 Comments: 0
document Deducting Business Meals
By Jason Watson (Google+) Posted October 25, 2016 We chatted about business meals earlier in the chapter. To reiterate the two themes, you must be either- Entertaining a client, prospect or other business associate (and small groups of the same), and discussing business matters, or Away...
25 Oct, 2016 Views: 0 Comments: 0
document Company Owned Vehicle
By Jason Watson (Google+) Posted October 25, 2016 If the company truly owns the car, then it must be titled in the company’s name. The IRS is cracking down on this, and it makes sense. If the company is the owner, then the company must be on the title. This might be a challenge with car loans...
25 Oct, 2016 Views: 0 Comments: 0
document 185 Business Deductions You Cannot Take
By Jason Watson (Google+) Posted October 25, 2016 Ahh.. the good stuff. Yes, you work hard. Yes, you want to be able to get a little extra from your hard work and your business. Yes, you want this to be tax-advantaged. We get it. This chapter will discuss the 185 tax deductions you cannot take,...
25 Oct, 2016 Views: 0 Comments: 0
document Pull Money Out of the S-Corp, Accountable Plan
By Jason Watson (Google+) Posted July 2, 2016 One of the goals of any business owner is to be able to pull money out of the company without creating a taxable event. There are four big ways to accomplish this- Reimbursements for Out of Pockets Business Expenses (Accountable Plan) Fund Your...
25 Oct, 2016 Views: 0 Comments: 0
document Other Tricks of the Trade with S-Corps
By Jason Watson (Google+) Posted October 25, 2016 The big theme with S-Corps is payroll for shareholders, and what constitutes a reasonable salary. Here are some tricks that you can consider to help reduce, lower or avoid self-employment tax, or Social Security and Medicare tax burdens- A...
25 Oct, 2016 Views: 0 Comments: 0
document Determining the S Corp Salary
By Jason Watson (Google+) Posted October 25, 2016 We’ve discussed the theory behind calculating a reasonable salary. You are also aware of the benefits of an S corporation such as shareholder distributions being taxed at the income tax level only, and not subjected to payroll taxes such as...
25 Oct, 2016 Views: 0 Comments: 0