News by MHCS
Great Iowa Treasure Hunt
Jan 31, 2020
We all have heard of the Great Iowa Treasure Hunt and maybe even found some money with our name on it! But where does this money come from and how does it affect you in your medical practice? Every y...
Learn MoreHIPAA Risk Assessment
Jan 31, 2020
The requirement for Covered Entities to conduct a HIPAA risk assessment is not a new provision of the Health Insurance Portability and Accountability Act. The requirement was first introduced in 2003 ...
Learn MoreLand Sales, Taxpayer Considered a Dealer or Investor
Jan 27, 2020
When land is sold, long-term capital gain rates are often assumed. While these rates may apply to the majority of sales, recent decisions from the Tax Court and a California District court are good re...
Learn MoreTwo Little Words
Jan 21, 2020
Words are powerful weapons, and there are two especially impactful words which can change the atmosphere. The words ‘Thank You’ in conversation, email, and in personal notes sends the message of grati...
Learn MoreUpcoming Event: Blood Drive
Jan 17, 2020
Register today to give blood! On Monday, February 3 from 10 a.m. - 12 p.m., we are excited to partner with LifeServe Blood Center to provide the blood mobile in our parking lot for all of us to help ...
Learn MoreWhat is a PBC List and How Can It Help an Audit?
Jan 13, 2020
Some of you might be wondering what exactly is a PBC list and its’ purpose. A PBC list, also known as a Provided by Client (PBC) list is a request of information and supporting documents that will be ...
Learn MoreReminder of Payroll Changes: Are You Ready?
Jan 08, 2020
We would like to remind all employers about the following payroll changes that went into effect Wednesday, January 1, 2020: The IRS issued a new Form W-4 to use starting January 1, 2020. Employers ...
Learn MoreNew Years Resolutions
Jan 07, 2020
Are you planning on making resolutions this year? This popular tradition tends to quickly hit the backburner. According to The Entrepreneur, “statistics show that only 9.2 percent of people ever achie...
Learn MoreThe Secure Act of 2019
Dec 31, 2019
On December 20th, President Trump signed into law the Secure Act, a funding bill that also included several tax ramifications. The legislation included the renewal of 34 expired or expiring provisions...
Learn More1099-Misc: Nonemployee Compensation Best Practices
Dec 20, 2019
1099 Miscellaneous (1099-Misc) forms need to be filed for a multitude of reasons. The 1099-Misc we most commonly file for clients is for rents paid (box 1) and nonemployee compensation (box 7). Nonemp...
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