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Blog Author: Katy Mering

New IRS Guidance says it’s not too Late to Elect Portability

Additional time to make a late portability (or DSUE) election has just been allowed by the IRS. What does this mean? Portability allows a surviving spouse to use a deceased

Do you have employer stock in your retirement account?

There is a little-known strategy you can use if you have highly appreciated employer stock in your ex-employer’s retirement account and you are planning on rolling the account tax free

Infrastructure Bill Signed but the Build Back Better Act Still Under Discussion

There are relatively few tax provisions in the recently signed Infrastructure Investment and Jobs Act legislation, but more extensive changes may be coming in the fiscal year 2022 budget reconciliation

Why you should make Qualified Charitable Distributions (QCDs) from your IRA

If you are 70 ½ or older, have an IRA, and make charitable contributions this strategy may be for you. Under our current tax system, the standard deduction is very

Should I opt out of the Advance Child Tax Credit?

What is the advance child tax credit? Who is eligible for payments? Who should consider opting out? Katy Mering, CPA, Partner at Wegner CPAs answers these and other common questions
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COVID Relief Act Provides NOL Carryback Changes for Farmers

In 2019 and prior years, farmers that generated a loss had two options:  1) carryback back the net operating losses 2 years, or 2) they could waive the carryback period
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Why You Should Maximize your 401k Contributions

401(k) retirement contributions through your employer plan is a great way to reduce taxes and build up tax deferred or tax-free retirement assets. Are you contributing the maximum amount allowed

The ins and outs of the easing of loss limitation rules

To provide businesses and their owners with some relief from the financial effects of the COVID-19 crisis, the Coronavirus Aid, Relief, and Economic Security (CARES) Act eases the rules for

Wisconsin Farm Support Program

Are you a farmer with gross income from Farming in 2019 of at least $35,000 but less than $5,000,000?  Have you suffered economic damages in 2020 from COVID 19? Follow

2021 Health Saving Account (HSA) Limits Compared to Prior Years

An HSA is an account set up for the purpose of paying the “qualified medical expenses” of an “account beneficiary.” An HSA can only be established if you have a