News by MHCS
PPP Loan Accounting Q&A
Jul 22, 2020
My organization has obtained a Paycheck Protection Program (PPP) loan – what can the proceeds be used for in order to be forgivable? As of June 5, 2020, the most recent guidance available, at least ...
Learn MoreUnrelated Trade or Business Income
Jul 22, 2020
As a result of the current pandemic, tax-exempt organizations may be looking at other cash flow opportunities. Here are some helpful rules to remember regarding unrelated business income (UBI). Any ...
Learn MoreAssurance Levels
Jul 22, 2020
Most of us don’t have extensive mechanical knowledge or tools to determine if a used car has been well cared for, so we ask a mechanic to look at the car before purchasing it. Similarly, most users of...
Learn MoreWaiver of 2020 Required Minimum Distributions (RMDs)
Jul 13, 2020
In late March, the Coronavirus Aid, Relief, and Economic Security (CARES) Act waived Required Minimum Distributions (RMDs) from certain retirement accounts including Individual Retirement Accounts (IR...
Learn MoreInformation Overload
Jun 29, 2020
I think I can speak for more than myself when I say my eyes have started to glaze over when I see yet another COVID-19 related headline, email, or social media post. The amount of information we are b...
Learn MorePioneering Something New - Part II
Jun 08, 2020
Last year I wrote a blog about being MHCS’s first remote auditor and some of the key takeaways I had found during that year and a half of working from home. I feel now that those takeaways and best pr...
Learn MorePaycheck Protection Program Flexibility Act Update
Jun 04, 2020
On June 3, 2020, the Senate passed the Paycheck Protection Program Flexibility Act (The Act) providing additional relief and guidance surrounding the Paycheck Protection Program. The Bill now goes to ...
Learn MoreWho Moved My Cheese?
May 28, 2020
As I write this, we are in the midst of the COVID-19 pandemic. There are many things going through my mind. How will businesses survive? Do I need to change my processes? What will the next 6 months b...
Learn MoreRecent COVID-19 Updates
May 21, 2020
There have been several COVID-19 related updates recently that we want to pass along. Paycheck Protection ProgramOn May 13th, the SBA again updated its FAQs related to PPP loans which can be found he...
Learn MoreStatus Update for MHCS Offices
May 20, 2020
We wanted to provide an update on our office status as the state lifts restrictions on most businesses. Currently, our offices in West Des Moines and Winterset remain closed to the public until furthe...
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