{"id":1381,"date":"2024-04-25T13:34:25","date_gmt":"2024-04-25T13:34:25","guid":{"rendered":"https:\/\/wcginc.com\/?p=1381"},"modified":"2026-01-26T16:36:34","modified_gmt":"2026-01-26T16:36:34","slug":"may-2024-book-updates","status":"publish","type":"post","link":"https:\/\/wcginc.com\/blog\/may-2024-book-updates\/","title":{"rendered":"May 2024 Book Updates"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column]\t\t\t<div class=\"info-box-wrapper\">\n\t\t\t\t<div id=\"wd-68b5681a7247b\" class=\" wd-rs-68b5681a7247b wd-info-box wd-wpb text-left box-icon-align-top box-style- color-scheme- wd-bg-none border-btm-title \">\n\t\t\t\t\t\t\t\t\t\t<div class=\"info-box-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"info-box-inner reset-last-child\"><\/p>\n<div class=\"overview\">\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Passive investor status can reduce self-employment taxes, allow deductions against passive income, and avoid mandatory salaries in S Corps, but qualifying is tricky due to material participation rules.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Short-term rentals are often best held in multi-member LLCs (partnerships) to lower audit risk, properly document at-risk capital, and provide extra layers of reporting protection via Form 8825.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Using partnerships for rental activities increases reporting complexity and may incur additional state taxes and preparation fees.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">LLC holding companies can own assets like airplanes, boats, or art without commercial activity, simplifying ownership transfers among members.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Non-operating LLCs still require an EIN for banking but generally do not trigger a tax return.<\/span><\/li>\n<\/ul>\n<\/div>\n<p>\n<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<div class=\"info-box-wrapper\">\n\t\t\t\t<div id=\"wd-673071a0293c9\" class=\" wd-rs-673071a0293c9 wd-info-box wd-wpb text-left box-icon-align-top box-style- color-scheme- wd-bg-none border-btm-title img-right \">\n\t\t\t\t\t\t\t\t\t\t<div class=\"info-box-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"info-box-inner reset-last-child\"><p><img decoding=\"async\" class=\"alignnone size-full wp-image-26054\" src=\"https:\/\/wcginc.com\/wp-content\/uploads\/update.webp\" alt=\"\" width=\"300\" height=\"193\" \/>We are just coming out of tax season with a stack of notes with mostly good ideas, and likely some bad ones too. One of those pieces of paper (well, virtual paper with a fancy\u00a0<a href=\"https:\/\/remarkable.com\/\" target=\"_blank\" rel=\"noopener\">reMarkable tablet<\/a>) had updates to our\u00a0<a href=\"https:\/\/wcginc.com\/business-services\/book\/\">Taxpayer\u2019s Comprehensive Guide to LLCs and S Corps<\/a>. Here we go\u2026<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Being_Considered_a_Passive_Investor_in_a_Business\"><\/span>Being Considered a Passive Investor in a Business<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This is aimed at business owners where they no longer materially participate in the business activity, and as such they are now considered passive investors. Seems easy right, but why would you care? You would like to be considered a passive business owner to either-<\/p>\n<ul>\n<li>have passive losses be deductible against your newfound passive income,<\/li>\n<li>to avoid having to pay yourself a reasonable salary in an S Corp environment (and only take shareholder distributions), or<\/li>\n<li>have your income avoid self-employment taxes in a sole proprietor, single-member LLC or partnership environment.<\/li>\n<\/ul>\n<p>The world is always trending towards harmony, so here are the passive business owner downsides. It is difficult to claim passive business owner given the\u00a0<a href=\"https:\/\/wcginc.com\/kb\/being-considered-a-passive-business-owner\/\">material participation tests<\/a>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Rental_Property_in_a_Partnership\"><\/span>Rental Property in a Partnership<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>WCG encourages short-term rentals to be owned by partnerships (ie, a multi-member LLC). Why? For three reasons-<\/p>\n<p>First, the historical audit rate of partnerships (Form 1065) is 0.4%. Super low compared to individual tax returns (Form 1040). Why does this matter? When you have a big cost segregation depreciation plus your big startup expenses such as furniture and supplies, and you then have a big tax deduction against your big W-2 income because your passive losses are no longer limited with your big material participation, it increases your audit risk a ton. Putting all this action into a partnership tax return reduces the risk right back down to an acceptable amount.<\/p>\n<p>Second, with a partnership tax return, we can mechanically show your capital contribution (at-risk money) including recourse loan debt. Why does this matter? Let\u2019s say you invest $250,000 into a new business, and that business loses money. The IRS sees your \u201cpartner basis,\u201d the $250,000, within your 1040 tax return, and suddenly the $100,000 first-year loss doesn\u2019t seem so out-of-whack. Conversely, rental property activities reported on Schedule E of your 1040 tax return do not present the same way.<\/p>\n<p>Third, all rental activities, including\u00a0<a href=\"https:\/\/wcginc.com\/blog\/short-term-rental-tax-loophole\/\">short-term rental<\/a>\u00a0(STR) activities, within a partnership tax return are reported on Form 8825. This is another layer of cloaking within the 1065 tax return and allows your rental income and deductions to fly just a little closer to the ground as compared to Schedule E page 1 of your 1040 tax return. There are three degrees of separation\u2026 the 1040 to the K-1 to the 1065 to the 8825, all wrapped with nice basis information.<\/p>\n<p>Downsides include the additional tax return preparation fees and perhaps unnecessary state taxes such as California\u2019s franchise tax and LLC fee which can be summarized as money-grabs or pleasure to do business in our state fees. You need to consider your exposure versus the cost of reducing your exposure and therefore subsequent risk.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"LLC_Holding_Company\"><\/span>LLC Holding Company<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>We have written about\u00a0<a href=\"https:\/\/wcginc.com\/business-formation-services\/holdco-vs-managementco\/\">holding companies versus management companies<\/a>, but this particular LLC holding company variant does not have any commercial activity. What are we talking about here? Let\u2019s say two people want to own an airplane. They could title it in their own names such as Buzz Aldrin and Amelia Earhart JTWROS. The fancy JTWROS is joint-tenancy with rights of survivorship. This means that should Amelia die before Buzz, typically Buzz would absorb her interest in the airplane.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-26055\" src=\"https:\/\/wcginc.com\/wp-content\/uploads\/update2.webp\" alt=\"\" width=\"300\" height=\"158\" \/>Time moves along, and Buzz and Amelia want to bring in Pete Mitchell as a third owner. They could add Maverick to the title because no one really knows who Pete Mitchell is, but this gets a bit cumbersome. If you add financing with personal loan guarantees to the mix, it could get messy if the bank wants to re-write the loan docs to add Pete\u2026 err\u2026 Maverick.<\/p>\n<p>Rather, Buzz and Amelia would create a multi-member limited liability company (MMLLC) called The Little Red Bus LLC. This entity would hold title to the airplane, but would not have any commercial activity. The LLCs\u2019s\u00a0<a href=\"https:\/\/wcginc.com\/kb\/operating-agreements\/\">Operating Agreement<\/a>\u00a0would dictate how members could come and go, what happens if one member passes away, and other entity governance items. Therefore, when Pete Mitchell wants to be a part-owner, he would simply acquire member interest in the LLC. Title would not change since The Little Red Bus LLC owns the airplane, and Buzz, Amelia and Maverick own the LLC. Loan documents would not change, but perhaps an additional personal guarantee would be required.<\/p>\n<p>LLCs are being used more and more in non-commercial or non-operating environments to make transfer of ownership super easy. We see this with boats, exotic car collections, art, among other things. Also, since there is no commercial activity, a tax return would not be required. Yes, an EIN would be necessary for a business banking account, but that in itself does not trigger a tax return filing requirement.<\/p>\n<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\n\t\t\t\t\t<style><\/style>\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t[vc_row_inner el_class=&#8221;boxes&#8211;pack&#8221; woodmart_css_id=&#8221;672f64599e51f&#8221; responsive_spacing=&#8221;eyJwYXJhbV90eXBlIjoid29vZG1hcnRfcmVzcG9uc2l2ZV9zcGFjaW5nIiwic2VsZWN0b3JfaWQiOiI2NzJmNjQ1OTllNTFmIiwic2hvcnRjb2RlIjoidmNfcm93X2lubmVyIiwiZGF0YSI6eyJ0YWJsZXQiOnt9LCJtb2JpbGUiOnt9fX0=&#8221; mobile_bg_img_hidden=&#8221;no&#8221; tablet_bg_img_hidden=&#8221;no&#8221; woodmart_parallax=&#8221;0&#8243; woodmart_gradient_switch=&#8221;no&#8221; woodmart_box_shadow=&#8221;no&#8221; wd_z_index=&#8221;no&#8221; woodmart_disable_overflow=&#8221;0&#8243; row_reverse_mobile=&#8221;0&#8243; row_reverse_tablet=&#8221;0&#8243;][vc_column_inner width=&#8221;1\/3&#8243;]\t\t\t<div class=\"info-box-wrapper\">\n\t\t\t\t<div id=\"wd-68999f6826a1c\" class=\" wd-rs-68999f6826a1c wd-info-box wd-wpb text-left box-icon-align-top box-style- color-scheme- wd-bg-none \">\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"box-icon-wrapper  box-with-icon box-icon-simple\">\n\t\t\t\t\t\t\t<div class=\"info-box-icon\">\n\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"622\" height=\"622\" src=\"https:\/\/wcginc.com\/wp-content\/uploads\/Investor-Patrol-Service-2.jpg\" class=\"attachment-full size-full\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"info-box-content\">\n\t\t\t\t\t\t<h4 class=\"info-box-title title box-title-style-default wd-fontsize-m\">Passive Investor<\/h4>\t\t\t\t\t\t<div class=\"info-box-inner reset-last-child\"><p>Learn how passive investment income and losses are reported in partnership tax returns.<\/p>\n<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t<a class=\"wd-info-box-link wd-fill\" aria-label=\"Infobox link\" href=\"\/kb\/being-considered-a-passive-business-owner\/\" title=\"\"><\/a>\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t[\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243;]\t\t\t<div class=\"info-box-wrapper\">\n\t\t\t\t<div id=\"wd-68999f6f2fff3\" class=\" wd-rs-68999f6f2fff3 wd-info-box wd-wpb text-left box-icon-align-top box-style- color-scheme- wd-bg-none \">\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"box-icon-wrapper  box-with-icon box-icon-simple\">\n\t\t\t\t\t\t\t<div class=\"info-box-icon\">\n\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"622\" height=\"622\" src=\"https:\/\/wcginc.com\/wp-content\/uploads\/rental-property-partnership-2.jpg\" class=\"attachment-full size-full\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"info-box-content\">\n\t\t\t\t\t\t<h4 class=\"info-box-title title box-title-style-default wd-fontsize-m\">Rental Partnership<\/h4>\t\t\t\t\t\t<div class=\"info-box-inner reset-last-child\"><p>Learn how cost-segregation and partner basis impact tax deductions for short-term rentals.<\/p>\n<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t<a class=\"wd-info-box-link wd-fill\" aria-label=\"Infobox link\" href=\"\/kb\/rental-partnerships\/\" title=\"\"><\/a>\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t[\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243;]\t\t\t<div class=\"info-box-wrapper\">\n\t\t\t\t<div id=\"wd-68999f7686973\" class=\" wd-rs-68999f7686973 wd-info-box wd-wpb text-left box-icon-align-top box-style- color-scheme- wd-bg-none \">\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"box-icon-wrapper  box-with-icon box-icon-simple\">\n\t\t\t\t\t\t\t<div class=\"info-box-icon\">\n\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"622\" height=\"622\" src=\"https:\/\/wcginc.com\/wp-content\/uploads\/download-our-book-1.jpg\" class=\"attachment-full size-full\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"info-box-content\">\n\t\t\t\t\t\t<h4 class=\"info-box-title title box-title-style-default wd-fontsize-m\">Download our Book<\/h4>\t\t\t\t\t\t<div class=\"info-box-inner reset-last-child\"><p>Learn about self-employment taxes and how to keep them organized with our book!<\/p>\n<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t<a class=\"wd-info-box-link wd-fill\" aria-label=\"Infobox link\" href=\"\/business-services\/book\/\" title=\"contact-us\"><\/a>\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t[\/vc_column_inner][\/vc_row_inner]\t\t\t<div class=\"info-box-wrapper\">\n\t\t\t\t<div id=\"wd-68b568393197e\" class=\" wd-rs-68b568393197e wd-info-box wd-wpb text-left box-icon-align-top box-style- color-scheme- wd-bg-none border-btm-title faqs-wrap \">\n\t\t\t\t\t\t\t\t\t\t<div class=\"info-box-content\">\n\t\t\t\t\t\t<h2 class=\"info-box-title title box-title-style-default wd-fontsize-m\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span>Frequently Asked Questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t\t\t\t\t<div class=\"info-box-inner reset-last-child\"><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_become_a_passive_investor\"><\/span>Why become a passive investor?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>To reduce self-employment taxes, deduct passive losses, and avoid paying a salary in an S Corp.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_material_participation\"><\/span>What is material participation?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It\u2019s the IRS test that determines whether you are actively involved in a business or considered a passive investor.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_hold_short-term_rentals_in_a_partnership\"><\/span>Why hold short-term rentals in a partnership?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Lower audit risk, properly document your capital contribution, and provide extra reporting layers to protect income and deductions.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Are_there_downsides_to_partnerships_for_rentals\"><\/span>Are there downsides to partnerships for rentals?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Yes, additional tax return fees and possible state taxes like franchise or LLC fees.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_an_LLC_holding_company\"><\/span>What is an LLC holding company?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>An LLC that owns assets without running a business, allowing easy transfer of ownership among members.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_non-operating_LLCs_file_tax_returns\"><\/span>Do non-operating LLCs file tax returns?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>No, if there is no commercial activity, a tax return is generally not required.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_use_an_LLC_instead_of_individual_ownership_for_assets\"><\/span>Why use an LLC instead of individual ownership for assets?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It simplifies adding or removing owners without changing the asset\u2019s title or loan documents.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_LLCs_still_need_an_EIN\"><\/span>Do LLCs still need an EIN?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Yes, for banking purposes, even if no tax return is required.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Can_multiple_people_co-own_an_asset_through_an_LLC\"><\/span>Can multiple people co-own an asset through an LLC?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Yes, ownership is represented by LLC membership interests, not the asset title itself.<\/p>\n<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t[\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_row_inner el_class=&#8221;boxes&#8211;pack&#8221; woodmart_css_id=&#8221;672f64599e51f&#8221; responsive_spacing=&#8221;eyJwYXJhbV90eXBlIjoid29vZG1hcnRfcmVzcG9uc2l2ZV9zcGFjaW5nIiwic2VsZWN0b3JfaWQiOiI2NzJmNjQ1OTllNTFmIiwic2hvcnRjb2RlIjoidmNfcm93X2lubmVyIiwiZGF0YSI6eyJ0YWJsZXQiOnt9LCJtb2JpbGUiOnt9fX0=&#8221; mobile_bg_img_hidden=&#8221;no&#8221; tablet_bg_img_hidden=&#8221;no&#8221; woodmart_parallax=&#8221;0&#8243; woodmart_gradient_switch=&#8221;no&#8221; woodmart_box_shadow=&#8221;no&#8221; wd_z_index=&#8221;no&#8221; woodmart_disable_overflow=&#8221;0&#8243; row_reverse_mobile=&#8221;0&#8243; row_reverse_tablet=&#8221;0&#8243;][vc_column_inner width=&#8221;1\/3&#8243;][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243;][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243;][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]<\/p>\n","protected":false},"author":6,"featured_media":44320,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[17],"tags":[20,230,232,233,234],"class_list":["post-1381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-rental-property","tag-s-corps","tag-tax-updates","tag-general-business","tag-book-updates"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>May 2024 Book Updates - WCG CPAs &amp; Advisors<\/title>\n<meta name=\"description\" content=\"We are just coming out of tax season with a stack of notes with mostly good ideas, and likely some bad ones too. One of those pieces of paper were book updates.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wcginc.com\/blog\/may-2024-book-updates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"May 2024 Book Updates\" \/>\n<meta property=\"og:description\" content=\"We are just coming out of tax season with a stack of notes with mostly good ideas, and likely some bad ones too. One of those pieces of paper were book updates.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wcginc.com\/blog\/may-2024-book-updates\/\" \/>\n<meta property=\"og:site_name\" content=\"WCG CPAs &amp; Advisors\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-25T13:34:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-26T16:36:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wcginc.com\/wp-content\/uploads\/279139_2122824467_may_2024_book_updates_300.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"193\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Jason Watson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jason Watson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"May 2024 Book Updates - WCG CPAs & Advisors","description":"We are just coming out of tax season with a stack of notes with mostly good ideas, and likely some bad ones too. One of those pieces of paper were book updates.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wcginc.com\/blog\/may-2024-book-updates\/","og_locale":"en_US","og_type":"article","og_title":"May 2024 Book Updates","og_description":"We are just coming out of tax season with a stack of notes with mostly good ideas, and likely some bad ones too. 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