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Not-for-Profit Reserve Spending

As the COVID-19 pandemic continues, an increasing number of nonprofits will face economic challenges...

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Assurance Levels

Most of us don’t have extensive mechanical knowledge or tools to determine if a used car has been we...

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Information Overload

I think I can speak for more than myself when I say my eyes have started to glaze over when I see ye...

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Association Retirement Plans

In the Retirement Plan industry, there has been a lot of buzz lately about organizations being able ...

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State Apportionment - Brokerage Income

How is your company allocating brokerage derived income for state apportionment purposes? In Febr...

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State Tax Alerts

New Jersey – New Jersey created an elective entity-level tax for passthrough entities with an inco...

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The US Tax System Explained

I was having lunch with one of my favorite friends last week and the conversation turned to the gove...

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Here is Your First Edition of The Vitals Report

Welcome Friends! We are excited to share with you the first edition of the MHCS Vitals Report. Each...

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Health Care Client Spotlight: Dr. Mark Belz, Iowa Kidney Physicians

When Dr. Mark Belz’s mother took a job as a nurse practitioner at the University of Pittsburgh Medic...

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Great Iowa Treasure Hunt

We all have heard of the Great Iowa Treasure Hunt and maybe even found some money with our name on i...

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HIPAA Risk Assessment

The requirement for Covered Entities to conduct a HIPAA risk assessment is not a new provision of th...

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Land Sales, Taxpayer Considered a Dealer or Investor

When land is sold, long-term capital gain rates are often assumed. While these rates may apply to th...

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What is a PBC List and How Can It Help an Audit?

Some of you might be wondering what exactly is a PBC list and its’ purpose. A PBC list, also known a...

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Reminder of Payroll Changes: Are You Ready?

We would like to remind all employers about the following payroll changes that went into effect Wedn...

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The Secure Act of 2019

On December 20th, President Trump signed into law the Secure Act, a funding bill that also included ...

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1099-Misc: Nonemployee Compensation Best Practices

1099 Miscellaneous (1099-Misc) forms need to be filed for a multitude of reasons. The 1099-Misc we m...

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Is Cash Really King in Small Businesses?

Although cash may be king, there are more accounts that business owners need to look at when determi...

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The Latest Edition of the Tax Route Has Arrived

In this edition of the MHCS Tax Route learn about the best strategies for replacing equipment, Iowa ...

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TCJA for Contractors

The Tax Cuts & Jobs Act (TCJA) impacted all taxpayers. While many taxpayers took a hard look at the ...

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2019 Year-End Tax Planning

Year-end tax planning in 2019 remains as complicated as ever. Notably, we are still coping with the ...

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Fraud. It’s Such A Scary Word.

In my career as an auditor of many small and medium-sized business, I’ve found that people generally...

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Side Hustles and Taxes

According to NPR, 30% of Americans do something else for pay in addition to their full-time job. Mos...

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Cloud Computing Guidance for Non Public Companies

There is a new guidance related to accounting for changes in how customers account for implementatio...

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Understanding the 2020 Form W-4

The Tax Cuts and Job Act (TCJA), enacted in December of 2017, brought new Federal withholding tables...

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Acquiring a Business? Let Us Help!

Are you or someone you know planning on starting or acquiring a business but are overwhelmed with un...

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Focus. Think Ahead. Be Creative.

One of my favorite things to do is play pool. When my wife and I were looking at houses this past su...

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Deductibility and Accounting Related to Meals and Entertainment

The Tax Cuts and Jobs Act (TCJA) made several changes to deductions for meal and entertainment expen...

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Red Flag Reporting: Fraud Detection Through Employee Whistleblowing

A main way fraud is detected is through employee whistleblowing and a key prevention is to provide e...

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Tax Planning Strategies For 2019: How Can You Act Now?

As you can imagine, we are often asked how we can help save money and as most answers to tax-related...

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Tax Planning Strategies for 2019

We often get asked how we can save our clients’ money, and as most answers to tax-related questions ...

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FRF for SMEs (part 2)

Previously, Assurance Shareholder, Wendy Moran discussed what the Financial Reporting Framework (FRF...

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Planning for Changes

Big life changes are hard for just about everyone. One thing that can make any change easier is plan...

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Iowa First Time Homebuyers

The Iowa first time homebuyer savings account is a deduction that most people are not familiar with,...

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Business Succession

During the life cycle of a business, goals can be drastically different. Early on the goal may be ju...

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Five Ways to Bring Life to Financial Reports

As the financial report is given at your monthly board meetings, what is the atmosphere like? Are al...

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Financial Reporting Framework for Small and Mid-Sized Companies

Wendy Moran, Assurance Shareholder, has previously shared the significant changes coming up for GAAP...

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Historic Tax Credits – Third of a Three-Part Series

Iowa Historic Tax Credits: Qualified Rehabilitation Expenditures So far, the Historic Tax Credit (H...

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Sales Tax Compliance and Solutions

Sales tax is a hot topic right now due to the recently passed law of a 1% local sales tax raise in m...

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The Latest Edition of the MHCS Tax Route Has Arrived

In this edition of the MHCS Tax Route learn about the New Revenue Recognition Guidance, read part tw...

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The Tax Route - March 2019

In this edition of the MHCS Tax Route learn about the latest Tax Cuts and Jobs Act update, read abou...

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Changes to Personal Taxation on the Federal Income Tax Level

Tax Reform has caused many changes to personal taxation on the federal income tax level. Today, Nick...

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The Tax Route - October 2018

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What Are You Withholding?

Have you checked your current withholdings lately? No one likes surprises when it comes to paying ta...

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Drive Up

I just bought a new car for business. How much of the cost can I deduct?” As a CPA, this is by far o...

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The Tax Route - February 2018

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The Tax Route is Here - October 2017

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The Tax Route Has Arrived - May 2017

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The Tax Route - March 2017

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The Tax Route is Here - December 2016

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The Tax Route - September 2016

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MHCS Earns Several Recognitions & Awards

McGowen, Hurst, Clark & Smith, P.C. has been recognized by several organizations on both local and n...

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