About Jason Watson
Jason Watson is a Senior Partner for WCG CPAs & Advisors, a boutique yet progressive tax, accounting and consultation CPA firm located in Colorado Springs, Colorado. He has been an owner of three small businesses, and holds both a Bachelor’s and Master’s in Business Administration from the University of Wisconsin – Madison.
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Key Takeaways
Working from home is increasingly common, but it raises tax questions about home office deductions.
Two methods e...
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Key Takeaways
Electing S corporation taxation for your LLC can reduce self-employment taxes, but the transition comes with challen...
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Key Takeaways
Electing S Corp status requires all shareholders to pay themselves a reasonable salary to comply with IRS rules.
...
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Key Takeaways
The Section 199A deduction allows certain small business owners to deduct up to 20% of qualified business income (QB...
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Key Takeaways
Side hustles can be exciting, but without a documented profit motive, the IRS may classify them as a hobby.
Hobby...
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Key Takeaways
Charitable donations can support causes you care about and may provide tax deductions.
To be deductible, donation...
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Key Takeaways
SSTB Overview: Certain professions like accountants, physicians, attorneys, consultants, and financial advisors are ...
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Key Takeaways
Focus on Wealth, Not Just Taxes: Prioritize building business value first; tax savings are secondary.
Lending Con...
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Key Takeaways
Cash vs. Accrual Accounting: Cash-basis records revenue when received and expenses when paid; accrual-basis records ...
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Key Takeaways
Employee Ownership as an Exit Strategy: Selling or transferring a business to employees can support succession plann...
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