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
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Blog Author: Katy Mering
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
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
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