News by MHCS

State Tax Alert

Jul 12, 2021

State and local taxes change frequently throughout the year. To help, MHCS has created State Tax Alerts to identify those state and local changes that may impact you and your business. Since your time...

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Client Spotlight: BioConnect Iowa

Jul 08, 2021

Many people start the new year with resolutions to create positive change in their life. BioConnect Iowa started the new year in 2021 with a new name and mission to strengthen its commitment to suppor...

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Iowa Income Tax Modification

Jul 07, 2021

On June 16, 2021 Governor Kim Reynolds signed Senate File 619 (SF 619), which modifies Iowa’s income tax. Below is a summary of the bill’s tax law changes and effective dates. Bonus DepreciationIowa ...

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Revenue Recognition for Not-for-Profit Entities

Jun 23, 2021

Revenue recognition timing is being determined by a new 5-step revenue recognition model due to a new accounting standard for Revenue from Contracts with Customers. Previously the effective date for t...

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Employee Retention Tax Credits

Jun 23, 2021

The Employee Retention Tax Credit (ERTC) has been a major topic for business owners and leaders since the outbreak of the COVID-19 pandemic in March 2020. Here we have broken down some of the changes ...

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Shuttered Venue Operators Grant

Jun 22, 2021

The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The progra...

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Child Tax Credit Advance Payments

Jun 22, 2021

The IRS has started sending out letters to families who may qualify for advanced payments of the child tax credit which was expanded as part of the American Rescue Plan Act. Some key points to note: ...

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State Tax Alert

Jun 03, 2021

State and local taxes change frequently throughout the year. To help, MHCS has created State Tax Alerts to identify those state and local changes that may impact you and your business. Since your time...

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PPP Loan Forgiveness & ERTC Update

Jun 01, 2021

PPP Loan ForgivenessIf you received a PPP loan in 2020 and haven’t yet applied for forgiveness, it may be time for you to begin that process. Borrowers have 10 months following the end of their covere...

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Navigating Motherhood

May 05, 2021

I still vividly remember the ultrasound technician saying, “I think there might be two in there.” After my hysterical laughter subsided and the color returned to my husband’s face, I could not help bu...

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