About mcwagner

Level 5

Latest badges earned

Member profile

About mcwagner

Certified Public Accountant (CPA)

Replies
Posts

Re: Medical Expenses

Insurance premiums for an S-corp shareholder are deductible to the business (employee benefits OR insurance expense) and should be added to the W-2 as compensat...

mcwagner

Updated Jul 04, 2020
Re: Rentals separating capital gains expenses from ordinary expenses

Good point, Rustler. I usually just refer to the depreciation schedule in the tax software, but I recognize that many tax preparers don't provide this essential...

mcwagner

Updated Jun 11, 2019
Re: Bank Service Charge - Not for Profit UCOA

8590 Other ExpensesMark Wagner, CPA

mcwagner

Updated Jun 10, 2019
Re: I think most setup the property as the customer and the t...

Use the class feature for properties. this gets you the profit/loss by class (property) report, which is very useful.Units (if any) are "customers" and then ten...

mcwagner

2

Updated Jun 14, 2021
Re: Rentals separating capital gains expenses from ordinary expenses

Hi. Let me help.On your balance sheet you should have some fixed assets. Typically I see rental properties:LandBuildingAccumulated DepreciationWhen you have a r...

mcwagner

2

Updated Jun 11, 2019

Membership stats

Quick links

Need to get in touch?