18
Oct
Luxury Cars, Car Shows, and the Myth of the “Marketing Deduction”
-
By
Jason Watson
Overview of Luxury Cars as Marketing Deductions
Luxury toys are not tax tools. Owning a Ferrari, a yacht, or a racing hobby might ...
16
Oct
October 2025 Rental Property Book Updates
-
By
Overview of our October 2025 Book Updates
Beat PAL limits first. The biggest rental tax wins start by clearing passive activity lo...
16
Oct
Short-Term Rental Tax Loophole
-
By
Key Takeaways
STR loophole turns rentals into a business. When your average guest stay is 7 days or fewer and you materially parti...
14
Oct
July 2025 Rental Property Book Updates
-
By
Overview of our July 2025 Book Updates
Short-term rentals with average stays of seven days or less can’t be grouped with long-term...
11
Oct
When a Home Becomes a Rental
-
By
Overview of the Converting Residence Into Rental
Tax Court case Smith v. Commissioner (T.C. Memo. 2025-24) highlights the importan...
07
Oct
Rental Expert Pod
-
By
Overview of the Rental Expert Pod
Specialization matters. WCG’s Pod system lets our CPAs “stay in their lane” — delivering focused...
04
Jul
One Big Beautiful Bill (OBBB)
-
By
Overview of the One Big Beautiful Bill (OBBB)
Before we dive into the nitty gritty of this new bill, here are some of the key highligh...
30
Mar
Jason’s Sabbatical
-
By
Is it silly to write in the first-person? Probably.
According to a 2022 Harvard Business Review article, a study of working professi...
26
Feb
Material Participation REPS Log
-
By
Key Takeaways
Time logs must be kept in real-time to meet IRS “contemporaneous” standards.
Record all time spent on rental acti...
26
Feb
FinCEN Beneficial Ownership Information
-
By
Key Takeaways
New federal filing for most small businesses (99% affected) — part of the Corporate Transparency Act starting Jan. 1...
