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"PTET: The Savvy Tax Hack That Beats the SALT Limit"
Taxes – they’re about as enjoyable as a trip to the dentist, right? But what if I told you there’s a clever loophole that can help you legally dodge the dreaded $10,000 annual cap on state and local taxes (SALT)? Enter PTET – the State Pass-Through...
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Life Insurance Section 7702
In 1984, when Section 7702 was enacted, Insurance carriers were required to provide at least 4% guaranteed interest rate of return. This could be net of reasonable carrier expenses. Since the reduction of interest rates (Moody’s AA corporate Bond Yield...
Tax-Saving Tips - April
Know the $75 Rule for Business Expenses The $75 rule applies to certain business expenses where you do not need a receipt. But we emphasize that this rule does not apply to all tax deductions. Many taxpayers mistakenly apply the $75 rule to all their...
Tax-Saving Tips - March
Holding Real Property in a Corporation: Good or Bad Idea? As the real estate market has cooled off in many parts of the country, investing in property may seem wise in the long run. But taxes can be a significant concern. Owning real estate in a C...
Tax-Saving Tips - February
2023 Health Insurance for S Corporation Owners: An Update Here’s an update on the latest developments in 2023 health insurance for S corporation owners. As a more-than-2-percent S corporation owner, you are entitled to some good news when it comes to...
Tax-Saving Tips - January
When Cancellation of Debt (COD) Income Can Be Tax-Free You may have noticed that the IRS is in a bad way. Sometimes debts can pile up beyond a borrower’s ability to repay, especially if we are heading into a recession. But lenders are sometimes...
Michael Wander, Wander CPA
Tax-Saving Tips - December
$80 Billion to the IRS: What It Means for You You may have noticed that the IRS is in a bad way. It has a backlog of millions of unprocessed paper tax returns, and taxpayers can’t get through to the agency on the phone. Congress noticed and took action...
Michael Wander, Wander CPA
Tax-Saving Tips - November
Year-End General Business Income Tax Deductions The purpose of this letter is to get the IRS to owe you money. Of course, the IRS will not likely cut you a check for this money (although, in the right circumstances, that will happen), but you’ll realize...
Michael Wander, Wander CPA Tax Saving Tips
Tax-Saving Tips - October
Say Goodbye to 100 Percent Bonus Depreciation All good things must come to an end. On December 31, 2022, one of the best tax deductions ever for businesses will end: 100 percent bonus depreciation. Wander CPA, Accountant, Tax Advisor Wander CPA, Michael...
Michael Wander, Wander CPA Tax Saving Tips
Tax-Saving Tips - September
Earn 9.62 Percent Tax-Deferred Interest with Series I Bonds Inflation is seldom a good thing. But when it comes to investing, the U.S. Treasury Department has an inflation opportunity that’s downright amazing. You can buy bonds that pay 9.62 percent...
Michael Wander, Wander CPA Tax Saving Tips
Tax-Saving Tips - August
Claim Your 2020 and 2021 ERC Now (Yes, in 2022) During much of 2020 and 2021, you may have qualified for the Employee Retention Credit (ERC). Lawmakers created this tax credit in response to the COVID-19 pandemic. With the ERC, you found (or could...
Michael Wander, Wander CPA Tax Saving Tips
Tax-Saving Tips - July
Self-Employment Tax Basics If you own an unincorporated business, you likely pay at least three different federal taxes. In addition to federal income taxes, you must pay Social Security and Medicare taxes, also called the self-employment tax. Wander...
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Tax-Saving Tips - June
Alert: A Massive New FinCEN Filing Requirement Is Coming Do you own a corporation, limited liability company (LLC), limited partnership, limited liability partnership, limited liability limited partnership, or business trust? Or are you planning to...
Michael Wander, Wander CPA Wander CPA - Blog
Tax-Saving Tips - May
Donor-Advised Funds: A Tax Planning Tool for Church and Charity Donations Do you give money to 501(c)(3) charities? Do you get a tax benefit from those donations? Recent changes in the tax code have done much to destroy your benefits from church...
Michael Wander, Wander CPA Wander CPA - Blog
Tax-Saving Tips - April
Health Savings Accounts: The Ultimate Retirement Account It isn’t easy to make predictions, especially about the future. But there is one prediction we’re confident in making: you will have substantial out-of-pocket expenses for health care after you...
Michael Wander, Wander CPA Wander CPA - Blog
Tax-Saving Tips - March
New Hope for Restoring and Fixing the Employee Retention Credit As you may remember, two bad things happened to the Employee Retention Credit (ERC): On November 15, 2021, Congress retroactively repealed the ERC for the fourth quarter of 2021 (except...

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