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By Jason Watson, CPA
Posted Saturday, November 5, 2023
WCG consults with small business owners and tax clients on riveting topics like these-
- customized business structures for tax efficiency, flexibility and protection
- operating agreements, structuring deals with investors
- S Corp elections (even late S Corp election back to January 1, 2023, even in 2024)
- Section 199A Qualified Business Income Deduction and Specified Service Trade or Business Analysis
- reasonable shareholder salary determinations and defense
- accounting (bookkeeping + analysis), financial statement preparation and payroll processing
- tax advocacy, strategies and planning (bad news in August, OK… surprises in April, bad)
- business advisory services to leverage more from your business for you and your family (put more money in your pocket), including lovely yet detached children
- industry analysis, KPI analysis, benckmarking and peer to peer comparison
- executive and fringe benefits
- retirement planning (SEP IRA v. 401k, defined benefits and cash balance plans)
- business valuations, buy-sell support and exit strategies
- financial expert testimony, divorce litigation support
- tax representation (happy happy joy joy)
Outside of typical business services (accounting and payroll), consultation and tax preparation, we have focused on these niche competencies for our group of Colorado Springs CPAs and business advisors.
- Small business advisory services and administration including S Corp elections and tax planning.
- CRNA contractor business consulting including others in the medical community.
- Rental properties, including real estate investing strategies and management consultation.
- State income tax nexus, physical presence and substantial economic presence issues including income apportionment.
- Pass-through entity tax deductions and SALT workarounds.
- Expatriates, or Expats for short, including foreign earned income exclusion, FinCEN 114 FBAR filings including Form 8938, Form 5471 and 5472 and other international tax matters.
WCG protects the fortress by not doing everything, but everything we do, we do very well. We also leave room for the individual tax client who does not own a business but has complex tax issues needing expertise, tax planning and wealth management.
In general our client base is primarily comprised of consultants, engineers, financial advisors, physicians, chiropractors, doctors, surgeons, dentists, anesthesiologists, nurse anesthetists, insurance agents, photographers (the profitable ones), attorneys, online retailers, FBA retailers, real estate agents, real estate investors and good old fashioned widget makers, and several others. A lot of our clients are one-person bands… W-2 one day, 1099 the next.
We also have several medical groups and financial advisor teams operating a tiered entity arrangement where each individual owns an S corporation.
Taxpayer's Comprehensive Guide to LLCs and S Corps 2023-2024 Edition
This KB article is an excerpt from our 400+ page book (some picture pages, but no scatch and sniff) which is available in paperback from Amazon, as an eBook for Kindle and as a PDF from ClickBank. We used to publish with iTunes and Nook, but keeping up with two different formats was brutal. You can cruise through these KB articles online, click on the fancy buttons below or visit our webpage which provides more information at-