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Blogging Beyond the Numbers

House sale
Posted by: Mike Scholz 5 days ago
In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll get for it. But don’t neglect to consider the tax consequences. Home sale gain exclusion The U.S. House of Representatives’ original version of the Tax Cuts and Jobs Act included a p...
Meet our team
Posted by: Mike Steinl 6 days ago
At Wegner CPAs, our goal is to offer relationship-driven service and go the extra mile for our clients.  We give you the capabilities of a large firm with the personalized attention of our senior staff, so you get the advantage of being served by CPAs who have hands-on experience.  Our knowledgeable team is eager to work with you to ensure your satisfaction through every step of your engagement. We are in...
shopping cart
Posted by: Cam Brawley 7 days ago
The Wisconsin Legislature recently passed a sales tax holiday for August 2018. What does this mean for the general consumer? A sales and use tax exemption is created for sales of certain items during a five-day period in August 2018. The temporary exemption period, referred to as a sales tax holiday, will begin at 12:01 AM on August 1, 2018, and continue through 11:59 PM on Sunday, August 5, 201...
Posted by: Mike Scholz 2 weeks ago
If you received a large refund after filing your 2017 income tax return, you’re probably enjoying the influx of cash. But a large refund isn’t all positive. It also means you were essentially giving the government an interest-free loan. That’s why a large refund for the previous tax year would usually indicate that you should consider reducing the amounts you’re having withheld (and/or what estim...
tax planning
Posted by: Mike Scholz 3 weeks ago
With the April 17 individual income tax filing deadline behind you (or with your 2017 tax return on the back burner if you filed for an extension), you may be hoping to not think about taxes for the next several months. But for maximum tax savings, now is the time to start tax planning for 2018. It’s especially critical to get an early start this year because the Tax Cuts and Jobs Act (TCJA) has substanti...
revenue recognition
Posted by: Tim Seidel 3 weeks ago
In May 2014, the FASB issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606). Since then, there have also been several amendments to the ASU that provide clarification to the original guidance. The update will be effective for all nonpublic entities for reporting periods beginning January 1, 2019.  The core principle is that an entity should recognize revenue ba...
child tax rebate
Posted by: Cheryl Wittmann 4 weeks ago
Governor Walker and the State Legislature have created a new “one-time” Child Sales Tax Rebate to return some of the $400 million dollar budget surplus to eligible taxpayers.  It is a $100 rebate for sales and use tax paid on purchases made for raising a dependent child in 2017. Who is eligible? A person can claim the rebate if they have a child under the age of 18 as of December 31, 2017, who they w...
shredded paper
Posted by: Mike Scholz 4 weeks ago
You may have breathed a sigh of relief after filing your 2017 income tax return (or requesting an extension). But if your office is strewn with reams of paper consisting of years’ worth of tax returns, receipts, canceled checks and other financial records (or your computer desktop is filled with a multitude of digital tax-related files), you probably want to get rid of what you can. Follow these re...
2018
Posted by: Mike Scholz 1 month ago
While April 15 (April 17 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that you also need to be aware of. To help you make sure you don’t miss any important 2018 deadlines, here’s a look at when some key tax-related forms, payments and other actions are due. Keep in mind that this list isn’t all-inclusive, so there may be addit...
Using storytelling to avoid restricted donations
Posted by: Melodi Bunting 1 month ago
Everyone loves a good story.  Storytelling has a long tradition in our culture.  Research has shown our brains are wired for the structure and engagement of a story.  A story has the potential to instruct, influence, and inspire. Many nonprofits have found this to be true.  Donors are drawn into the mission and needs of the nonprofit through stories of how they are serving their clients.  Imagine he...