News by MHCS
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...
Learn MoreIowa 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 ...
Learn MoreRevenue 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...
Learn MoreEmployee 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 ...
Learn MoreShuttered 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...
Learn MoreChild 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: ...
Learn MoreState 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...
Learn MorePPP 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...
Learn MoreNavigating 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...
Learn MoreThe Tax Route Special Edition - April 2020
Apr 30, 2021
We hope you are all staying safe and healthy during this unique time. As the COVID-19 pandemic continues to grow with each day, our team is committed to working with our clients to help maximize any b...
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