News by MHCS

Parking Tax Update

Mar 13, 2020

Please note that the below article, which was originally shared on January 14, 2020, has been updated to include IRS guidance for the refund process. ______ On December 20, 2019, the “Parking Tax” e...

The Tax Route - February 2020

Feb 28, 2020

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• the_Tax_Route

We hope you are doing well and are enjoying the beginning of this new year. We are in full swing prepping, reviewing, and filing returns and with all of the changes and updates, please let us know if ...

Fraud

Feb 25, 2020

Fraud is something many of us don’t like to think about in our company, but the truth is it has a big impact on companies in all industries. According to the Association of Certified Fraud Examiners 2...

Accounting and Reporting for Contribution Revenue

Feb 25, 2020

Believe it or not, not all not-for-profit entities (NFPs) account for contribution revenue the same. Historically, there have been differences in when NFPs recognize revenue received from grantors, th...

State Tax Alerts

Feb 24, 2020

• Tags:
• Transportation

New Jersey – New Jersey created an elective entity-level tax for passthrough entities with an income tax credit for members. This election for the passthrough to be taxed at the entity level is allo...

State Apportionment - Brokerage Income

Feb 24, 2020

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• Transportation

How is your company allocating brokerage derived income for state apportionment purposes? In February 2019, the Iowa Department of Revenue issued a declaratory order on how transportation brokerage...

System and Technological Security

Feb 24, 2020

System security is at the forefront of importance for both businesses and individuals in today’s technological world. Unfortunately, company data in the U.S. is being breached more often, as well as c...

Successful Teams

Feb 18, 2020

The success of a manager can be measured on multiple metrics. It also takes several skills to be an excellent manager including communication, availability, integrity, and accountability are just a fe...

The US Tax System Explained

Feb 10, 2020

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• Tax and Accounting

I was having lunch with one of my favorite friends last week and the conversation turned to the government's recent round of tax cuts. "I'm opposed to those tax cuts," my friend declared, "because the...

Bigger Than Us

Feb 03, 2020

Hello! I’m Matthew Oberreuter and a Junior at Iowa State University (ISU), studying Accounting and hoping to earn my Certified Public Accounting license after graduation. I am also a member of Phi Kap...