What is the purpose of tax planning?

Tax planning helps estimate and manage your tax liabilities today and tomorrow, removing the uncertainty of how much of your cash belongs to you versus the IRS.

When should tax planning be done?

It’s a year-round activity—not a December scramble—and should be done proactively, not reactively.

What are the three categories of tax planning at WCG?

WCG divides tax planning into Tax Projections, Tax Advisory, and Tax Strategy—each with a different scope and purpose.

What does the Tax Projections service include?

It includes mock tax returns based on your projected income, factoring in changes like marriage, new dependents, or income shifts.

How much does a household tax projection cost?

For our tax-only engagements, it costs $600 for individual projections and $950 for both individual and business projections, including PTET and franchise taxes.

What is Tax Advisory at WCG?

Tax advisory focuses on one-time decisions like stock sales or Roth conversions and is quoted at $375/hour with a 2-hour minimum.

What is the difference between Tax Advisory and Tax Strategy?

Advisory focuses on single decisions, while strategy evaluates multi-year, scenario-based plans aligned with long-term goals.

Who should consider Tax Strategy services?

Taxpayers, business owners and real estate investors with complex, long-term financial or business goals, such as multi-year Roth conversions with lifetime changes in taxes or cash flow ROI combined with cost segregation analysis.

Are Tax Projections included with WCG advisory platforms?

Yes, all business, tax patrol, and investor advisory services include tax projections.

What data does WCG need to start tax planning?

Pay stubs, prior tax returns, and completion of the Simplified Tax Planning (STP) worksheet.

What happens during the pre-planning meeting?

We review your income, retirement plans, real estate activity, estimated tax payments, and answers initial questions.

How are Tax Projections delivered?

Via a PDF tax projection worksheet to your ShareFile folder, including updated payroll plans and estimated payment schedules as separate PDFs—with an optional follow-up meeting or Loom video.

What if you have income in multiple states?

WCG can calculate multi-state apportionment for an additional $150–$250 per state.

What is a SALY projection?

If data isn’t received by July 31, WCG uses “same as last year” assumptions to build tax projections for our advisory engagements.

What’s included in year-end wrap-up for payroll clients?

We confirm 401k deferrals, HSA contributions, insurance premiums, among other things, and plan payroll for the following year (especially if income is changing or you had a compressed year).

How does WCG approach email communications?

The tax team checks emails only on Mondays and Thursdays and prefers calls or meetings for complex matters (10-minute rule… if we cannot answer in 10 minutes, we call or schedule a meeting).

What is the Pass-Through Entity Tax (PTET)?

PTET allows businesses to pay state income taxes at the entity level to create a federal deduction, bypassing SALT limits.

What’s an example of a Tax Advisory question?

“Should I sell Tesla stock now or later?” or “Should I convert my traditional IRA to a Roth this year?”

How does WCG price Tax Advisory and Tax Strategy services?

They are quoted as Planning Projects depending on scope and hours required. Tax Advisory is typically $1,000–$1,500, whereas Tax Strategy is usually $1,500 to $3,000 and includes a Tax Strategy Plan deliverable.

Complimentary Quick Chats

Posted Friday, August 1, 2025

Table Of Contents

Complimentary Quick Chats

All of WCG CPAs & Advisors Business Advisory platforms such as-

Vail- tax prep, tax projections, payroll planning and processing, and routine complimentary quick chats (common for S Corps)
Telluride- same as Vail plus pass-through entity tax deduction calcs plus some other bells (no whistles)
Aspen- more of the above, but totally custom with bells and whistles

And… our Tax Patrol platforms including Investor Tax Patrol such as-

Keystone- 1040 tax prep, tax projections and routine complimentary quick chats
Copper- same as Keystone but for business entities
Breck(endridge)- combo of above

include routine complimentary quick chats, or what we call a CQC. What the heck is a CQC?

The CQC

Routine CQCs are quickie conversations that last about 20 minutes and cover common questions with straightforward answers. Here are some examples-

Entity Structure & Formation

Should I form an LLC or a sole proprietorship?
What is the difference between an LLC and an S Corp?
When should I convert to an S Corp?
Can I operate multiple businesses under one LLC?
Do I need a business license for my LLC?
Can I have an S Corp and still work a W-2 job?
Can my spouse be a co-owner of my S Corp?
If my spouse is a member of my LLC does that require a partnership tax return?

S Corp Basics

What is the deadline for S Corp election?
Can I make an S Corp election retroactively?
Do I need to pay state taxes with an S Corp?
Can I switch back from S Corp to LLC?
Can an S Corp own rental property?
Am I taxed on my distributions from my S Corp?

Payroll & Compensation

Do I need to run payroll monthly?
Can I pay myself once a year from my S Corp?
How do I handle bonuses in an S Corp?
Can I hire my spouse or children in my business?
Do I need workers comp if I’m the only employee?
Why do I need to pay unemployment?
What’s the difference between a draw and payroll? Shareholder distribution?
It is just me- do I really need to run payroll as an S Corp shareholder?

Retirement & Benefits

Can my S Corp offer a retirement plan?
How do I set up a solo 401k plan in my non-S Corp LLC?
Can I contribute to a Roth IRA and 401k?
Can my spouse participate in the solo 401k?
What are the 401k limits? How much can my business contribute?
What is better? SEP IRA or 401k?
Are employer 401k contributions tax deductible?
Can my S Corp pay for my health insurance?
How do I deduct HSA contributions?
Is dental insurance deductible? Vision?
Can I reimburse myself for medical expenses?

Expenses & Deductions

What meals are deductible?
I am gone all day from home, does that change things for meals?
Is coffee for the office deductible?
Can I deduct clothing? Like my fancy suit to vertical lines to appear slimming?
Can I deduct my cell phone bill?
Can I deduct internet costs?
What are the rules for a home office?
Can I write off home office furniture? Fancy TV? Art?
Can I deduct my laptop?
How is a tax home defined?
If I buy a car for the business, how do I title it?
Is mileage or actual expenses better?
What is the hummer loophole?
Can I deduct my car payment?
How do I track business mileage?
Should I lease or buy a car for my business?
What happens when I sell business equipment?
How do I track business expenses?
Should I use accounting software like QBO or Xero?
Can I deduct interest on a business credit card?
Do I need a business bank account?
Do I need to issue a 1099?

Real Estate & Rentals

When does cost segregation make sense?
What is required to prove material participation?
Can I live in one unit and rent the others on a 4-plex? ADU? Basement?
Can I use 1031 like-kind exchange for a second home?
What is the de minimis safe harbor rule?
How does the small taxpayer safe harbor rule work?
How do I claim the short-term rental (STR) loophole?
How do I claim real estate professional status (REPS)?
What are the rules for REPS? Does a part-time job blow this up?
Do I need REPS to claim STR loophole?
Can I combine bonus depreciation and Section 179?
Can I put my primary residence in an LLC to save taxes?
Does moving my rental to an LLC trigger tax? HOA transfer tax?
What are the pros/cons of putting rentals in an LLC?
Should each rental have its own LLC?
Should I put my rental property into an S Corp?
Do I need a bank account for each LLC or rental?
How do I move my rental into an LLC?
Do I need an EIN for my rental LLC?

Compliance & Filings

Do I need to file quarterly taxes?
What are estimated tax payment due dates?
What happens if I don’t pay estimated taxes?
Can I deduct tax prep fees?
What is the safe harbor rule for estimated taxes?
How do I avoid underpayment penalties?
What documents do I need to keep?

Complimentary Quick Chats Versus Tax Advisory

When do we go from routine complimentary quick chats (CQCs) to tax advisory? It is tricky and it mostly hinged on “making a decision” with the advice we provide. Here are some examples-

CQCs	Tax Advisory
I did a cost seg which came in at $120,000 of eligible property for bonus depreciation. I plan to deduct it all.	Should I use 100% bonus depreciation on all asset classes, or only use one or two of the classes available (5- 7- and 15-year)?
I purchased a heavy truck for $90,000. I plan to deduct the max.	Should I purchase a heavy truck this year or next? Should I do the max depreciation, or plan it out?
I max’d out my Roth 401k.	Should I max out my Roth 401k or pre-tax 401k, assuming a 22% marginal tax rate in retirement and a 8% rate of return?
I received $30,000 in capital gains this year from selling stock.	Should I realize more gains this year or defer to next year to optimize my AGI and avoid triggering NIIT or AMT?
I sold the rental on Elm Street for $450,000.	I have the option to do an installment sale on the Elm Street rental over 5 years. Should I take it? (follow-up from WCG- Did you risk adjust the purchase price?)

There are 6,772 other examples that we came up but don’t want to bore you. Where do we go from here? Easy! Your job is to extract the most out of your WCG CPAs & Advisors tax planners. Our job is to have the awkward scope conversation.

Tax Reduction Strategies

Discover practical strategies for reducing taxes while keeping you on the right side of things.

Tax Planning Service Levels

Need more than CQCs? Have some depth and complexity to your questions and concerns?

End of Year Tax Moves

Here is a list of things to consider as December 31 rolls around.

Quickie Tax Advisory

If you need more than a CQC… if you need a quickie Tax Advisory session, you can schedule a 40-minute consultation for $250 with one of our Partners. This is a nice way to ask some advisory-esque questions that perhaps don’t require the depth and complication of Planning Project.

Quickie Tax Advisory Session

Click the button below to schedule an amazing 40-minute paid consultation with a WCG CPAs & Advisors Partner.

Schedule Me!

Taxpayer’s Comprehensive Guide to LLCs and S Corps

WCG CPAs & Advisors and Jason Watson, CPA, have released the 2025 Edition of Taxpayer’s Comprehensive Guide to LLCs and S Corps. Over 400 pages of pure pleasure! This edition has updated 2025 data such as IRA and 401k limits including Social Security wage limits, but it also has a bunch of new information spread out various chapters such as customized multi-entity structures, expanded reasonable shareholder salary sections, more tax reduction mechanics among various little tidbits gleaned from hundreds of small business consultations. Riveting!

It is available in paperback for $49.95 from Amazon and as an eBook for Kindle for $39.95. Our book is also available for purchase as a PDF from ClickBank for $29.95. Why do we all love 95 cents? We all know that 39.95 is really 40 bucks. At least we are not like gas stations… $39.949. Silly! Yet we digress. Apple iBook, Barnes and Noble Nook, among others are not utilized since their format is challenging to make mini updates here and there.

Avoid Self-Employment Taxes

How can I avoid self-employment taxes? This simple question was the inspiration for creating an article describing the benefits of an S Corporation. That original article, which was about four pages long, quickly became a series of Knowledge Base articles on the WCG website. The articles touched on basic topics such as how to elect S Corp status, shareholder payroll, reasonable salary determination and liability protection. Those broad topics demanded much more information, both horizontally by spanning into more related issues, and vertically by digging deeper into the granular yet riveting levels of the tax code. Beyond general S Corp benefits, our book will show you-

Entity Structures and Custom Multi-Entity Arrangements for Tax Efficiency
Deal Structures, Operating Agreements
The Fallacy of Nevada Corps
State Taxes, Nexus, FBA Problems, and Liability
S Corp Benefits, Tax Savings
Avoiding Self-Employment Taxes
The 185 Reasons an S Corp or LLC Might Stink
Forming and Operating an S Corp
Late S Corp Election Back to January
Determining Reasonable S Corp Shareholder Salary
Section 199A Business Tax Deduction
Business Tax Deductions, Fringe Benefits, Putting Kids on Payroll and Cars
Accountable Plan Reimbursements, Handling Shareholder Distributions
Properly Paying for Health Insurance
Small Business Retirement Planning with Your Small Business

This book is written with the general taxpayer in mind. Too many resources simply regurgitate complex tax code without explanation. While in some cases tax code and court opinions are duplicated verbatim because of precision of the words, this book strives to explain many technical concepts in layperson terms with some added humor and opinions. We believe you will find this book educational as well as amusing.

Each week we receive several phone calls and emails from small business owners and other CPAs across the country who have read our Taxpayer’s Comprehensive Guide to LLCs and S Corps and praised the wealth of information. Regardless of your current situation, whether you are considering starting your own business or entertaining a contracting gig, or you are an experienced business owner, the contents of this book are for you.

While this book’s origins were based on reducing self-employment taxes through an S Corporation election, it has dramatically expanded to sound business advice from entity structures to operational considerations to business tax deductions and retirement planning.

Enjoy! And please send us all comments, hang-ups and static. This book is as much yours as it is ours, except the tiny royalty part- that’s ours. Stop by and we’ll buy you a beer with the pennies.

While we have you, please check out our rental property book aimed at real estate investors, I Just Got A Rental, What Do I Do?

How To Purchase Our S Corp Book

If you buy our 430-page book and think that we didn’t help you understand small business tax law or the benefits of S corporations, let us know. We never want you to feel like you wasted your money. If you are ready to add some insightful reading into your day, click on one of the preferred formats. Amazon is processed by Amazon, and the PDF is safely processed by ClickBank who will email you the PDF as an attachment.


$49.95	$39.95	$29.95

I Just Got A Rental, What Do I Do?

I just got a rental, what do I do? Purchasing a rental property is certainly challenging, but operating one to build wealth and find tax efficiency is equally challenging. This is our second book. Our first book, Taxpayer’s Comprehensive Guide to LLCs and S Corps, was first published in 2014 and was well-received by small business owners and tax professionals, so we thought a book on rental properties and real estate investments would be equally helpful. So, here we are with our second iteration, or the 2025 edition. We plan to update annually.

Our rental property book starts with entity structures and moves into asset management such as acquisition, cost segregation, rental safe harbors, repairs versus improvements, accelerated depreciation, partial asset disposition, and 1031 like-kind exchange. From there we discuss various rental considerations like passive activity losses, short-term rental loophole, real estate professional status, and material participation including what time counts, and what time doesn’t count.

Finally, the good stuff! Rental property tax deductions such as travel, meals, automobiles, interest tracing, home office and common expenses. Fun!

It is available in paperback for $19.95 from Amazon and as an eBook for Kindle for 15.95. Our book is also available for purchase as a PDF from ClickBank for $12.95.

We Are Real Estate CPAs

WCG has a team of real estate CPAs ready to assist you with your rental property and real estate investments. Very few tax professionals and CPA firms specialize in real estate to provide you solid consultation, tax planning including tax reduction strategies, and tax return preparation. We are experts in-

Entity Arrangements, Real Estate Holding Companies, Deal Structures
Startup Expenses, Launching Your Real Estate Venture, Acquisition Costs
Asset Setup On Your Tax Returns, Cost Segregation Studies
Converting Your Primary Home Into a Rental
Passive Activity Loss Limits
Material Participation Rules, What Time Counts (and What Doesn’t)
Real Estate Professional Status (REPS)
Short-Term Rental (STR) Loophole (How to compute average guest stay- which is nuanced!)
Vacation Home Rules, Bolton Method
State Problems With Your Rental Property (there are some surprises!)
Travel, Meal, Automobile and Home Office Deductions
Common Rental Property Deductions, Allocation of General Expenses Across Multiple Rentals
Rental Property Repairs Safe Harbors, Improvements Versus Repairs
Accelerated Depreciation, Section 179 Expensing, Partial Asset Disposition
1031 Like-Kind Exchange, 721 Exchange
Selling Your Rental Property, Buying Out Your Partner

This book is written with the general rental property in mind. Too many resources tell you the general rule but don’t bother to back it up with Internal Revenue Code, Treasury Regulations and Tax Court cases. Our book lays it all out, explains the madness, adds some humor and various conundrums. Example? Water heaters and hot tubs- crazy stuff to consider.

How To Purchase Our Rental Property Book

If you buy our 420-page book and think that we didn’t help you understand rental property tax laws, let us know. We never want you to feel like you wasted your money. If you are ready to add some insightful reading into your day, click on one of the preferred formats. Amazon is processed by Amazon, and the PDF is safely processed by ClickBank who will email you the PDF as an attachment.


$19.95	$15.95	$12.95

Financial Advisor Questions

So many things appear to be tax return related or even business advisory related, but they are outside of our purview. While we appreciate the trust that you have in us, not all things with a dollar sign are handled by your tax professional or business consultant. Several examples come from 401k and investment planning such as-

Should I maximize my 401k plan and / or IRA contribution? This is a financial advisor question.
Should I do pre-tax or Roth (after-tax) contributions? This too is a financial advisor question. Having said that, we have strong feelings towards Roth contributions. Read more about Roth Versus Pre-Tax here.
What will my tax bill be if a make a 401k plan or IRA contribution? Ah, this one we can answer!
I want to convert some traditional IRA money into a Roth IRA. How much can I do before going into the next tax bracket? This one we can answer as well.
I inherited an IRA from my mother. Do I have to take distributions on this account? If so, how much? This is back to being a financial advisor question.

Your job is to ask us anything, and our job is to say “we are unable to help but we know who can.” While we have two CFPs and former financial advisors on our team, we must stay in our lane and defer to those who provide financial planning and retirement advice on a daily basis.

Table Of Contents

Tax Planning Season

Tax planning season is here! Let's schedule a time to review tax reduction strategies and generate a mock tax return.

Tax Planning Services

Bookkeeping Services

Tired of maintaining your own books? Seems like a chore to offload?

Accounting Services

Tax Planning Consultation

Did you want to chat about this? Do you have questions about WCG’s tax planning service levels including tax strategy?

The tax advisors, business consultants and rental property experts at WCG CPAs & Advisors are not salespeople; we are not putting lipstick on a pig expecting you to love it. Our job remains being professionally detached, giving you information and letting you decide within our ethical guidelines and your risk profiles.

We see far too many crazy schemes and half-baked ideas from attorneys and wealth managers. In some cases, they are good ideas. In most cases, all the entities, layering and mixed ownership is only the illusion of precision. As Chris Rock says, just because you can drive your car with your feet doesn’t make it a good idea. In other words, let’s not automatically convert “you can” into “you must.”

Let’s chat so you can be smart about it.

We typically schedule a 20-minute complimentary quick chat with one of our Partners or our amazing Senior Tax Professionals to determine if we are a good fit for each other, and how an engagement with our team looks. Tax returns only? Business advisory? Tax strategy and planning? Rental property support?

Text WCG Offices

Need to get in touch through a quick text? We'll respond within a day.

Call Our Team

Need to speak to a tax professional now? Give us a call 719-387-9800 and we'll get you connected.

Chat With a Tax Pro

Taxes can be tricky. Chat with a WCG human now and get questions answered.

After almost 6 years with this CPA group, there is NO ONE else we would trust to do our taxes.

L. Matisek

See Review

We've worked with multiple bookkeepers and accountants over the years and WCG has completely blown us away.

N. Sellden

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As a novice business entrepreneur they provided me with the tools to both structure and tax my business efficiently

Mayon Hight

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They've made my taxes a breeze and are worth every dime I pay them for the peace of mind their services provide.

Lynn Shannon

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The good folks at WCG have impressed me, as being highly competent, patient & friendly.

Fred LeBlanc

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They've made my complicated business life simple and I'd recommend them to anyone with a slightly complicated-to-overwhelmingly complicated tax strategy!

Nic J

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For nearly nine years, I have had the privilege of working with WCG and their team of exceptionally knowledgeable and experienced CPAs.

Alex Hickman

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Amanda - WCG CPA - You guys have been invaluable in helping us get this business and tax planning setup properly and executed correctly.

Lance Dodd

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WCG is extremely knowledgable, timely and attune to the unique aspects of our businesses.

Carl Protsch

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WCG CPAs are professional and a pleasure to work with.

Nakapan P.

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They go beyond the call of duties to assist me not only with Tax return matters but with any questions on other personal and company tax matters.

Juan Mayorga

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I've always dreaded tax season, but WCG has made things so easy, even as we changed to an S corp. So happy we found them!

Paige de Kock

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It was great to find an accounting firm eager to take on new clients, answer initial questions in depth, and support our “keep it simple” philosophy.

Stuart B.

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Working with WCG was so easy, shout out to Sally Rhoades who handled my complicated tax situation this year wonderfully and was available for all my questions.

Stefani Cinto

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I am so thankful to be a client of WCG CPAs & Advisors.

Carol Kersten

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It's a wonderful and rare treat to find a company like WCG these days with their high level of service, personal approach, and deep knowledge of accounting.

Jeffree Hilton

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Such a great firm. Great communicators, great attention to detail and overall great people.

Jeff Owens

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Entity Formation

Business Support

Business Advisory Services

WCG CPAs & Advisors can help launch your venture, and provide tax prep, tax planning and reduction strategies, accounting services and routine business consultation.

Asset Management

Tax Considerations

Real Estate Investor Hub

WCG CPAs & Advisors helps real estate investors and rental property owners build wealth by providing expert advice, tax planning and reduction strategies, and routine consultation. And, we're pretty cool too.

Tax Preparation

Tax Support

Get Started

WCG CPAs & Advisors makes tax return preparation a snap with easy to use checklists and smooth tax return delivery including ongoing tax planning and reduction strategies. We are your advocate!

Client Support

School House

About Us

WCG CPAs & Advisors provides a ton of resources including blog posts, and our LLC S Corp and Rental Property books for your education and tax reduction strategies.

Complimentary Quick Chats

Complimentary Quick Chats

The CQC

Entity Structure & Formation

S Corp Basics

Payroll & Compensation

Retirement & Benefits

Expenses & Deductions

Real Estate & Rentals

Compliance & Filings

Complimentary Quick Chats Versus Tax Advisory

Tax Reduction Strategies

Tax Planning Service Levels

End of Year Tax Moves

Quickie Tax Advisory

Quickie Tax Advisory Session

Taxpayer’s Comprehensive Guide to LLCs and S Corps

Avoid Self-Employment Taxes

How To Purchase Our S Corp Book

I Just Got A Rental, What Do I Do?

We Are Real Estate CPAs

How To Purchase Our Rental Property Book

Financial Advisor Questions

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CostSegEZ Preferred Cost Segregation Provider

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Real Estate Professional Defined

CRNA Tax Deductions

Cost Segregation in a Nutshell

Address Changes Are Messy

May 2024 Book Updates

WCG Partners with BiggerPockets

Pass-Through Entity Tax Deduction

Real Estate Investing

Crash Course on Investing

How to Annoy Your Tax Accountant in 6 Easy Steps

Pay More Taxes

529 to Roth IRA Conversion

IRS Delays High Earner Roth 401k Requirement

Client Communications

Roth 401k Versus Traditional 401k

Tax Planning Strategies

Small Business Bookkeeping

PPP Loan Forgiveness is Taxable Income Today

C Corp vs S Corp

PPP Loan Forgiveness Calculation

History of WCG

SBA PPP Loan Forgiveness

Paycheck Protection Program

COVID-19 Benefits

2019 Income Tax Payments Extended by IRS

Online Tax Accountant

SECURE Act including FCAA

Be Reasonable People!

RCReports Reasonable Salary Case Study

Entity Formations and Considerations Podcast

Deducting Home Office Maintenance

WCG CPAs & Advisors can help launch your venture, and provide tax prep, tax planning and reduction strategies, accounting services  and routine business consultation.