tax-and-accounting
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Work Opportunity Tax Credit Reauthorized Through 2025
Enacted in 1996, the Work Opportunity Tax Credit (WOTC) is a federal tax credit that eligible employ...
Learn MoreIowa Enacts Passthrough Entity Tax Election to Create Tax Savings for Business Owners
On May 11, 2023, Governor Kim Reynolds signed House File 352 creating an optional passthrough entity...
Learn MoreHow To Classify Your Workers
When you hire someone to work for you, the worker will likely be considered either an employee or an...
Learn MoreTax Planning for Manufacturers: Maximizing Deductions and Credits
As a manufacturer, it is important to not only produce high-quality products but also to optimize yo...
Learn MoreDoes Your Business Have to File Schedules K-2 and K-3?
In alignment with IRS requirements, there are certain businesses that must file Schedule K-2 and Sch...
Learn MoreThe Secret to Increasing A Cost Segregation Study Tax-Saving Strategy
If a cost segregation study is part of your tax planning strategy, adding an energy evaluation will ...
Learn More5 Accounting and Finance Trends for 2023
As we begin 2023, the current economic downturn, unpredictable workforce trends, and supply chain ch...
Learn MoreHow Do Taxes Work With Bonuses?
Bonuses, frequently given at the end of the year, are a popular "thank you" for a job well done, and...
Learn MoreCommon Tax Deductions for Construction Workers
Regardless of your trade in the construction industry, allowable tax deductions can lower your tax l...
Learn MoreAccounting Method Changes for Small Business Taxpayers
Recently, the IRS and Treasury released two revenue procedures on accounting method changes for smal...
Learn MoreUsing LLCs in Real Estate
Investing in real estate can be a complicated process. That is why many people turn to establishing ...
Learn MoreConstruction Companies: Know Your R&D Tax Benefits
Of particular relevancy to construction companies is the research and development tax credit, a tax ...
Learn More9 Ways To Avoid an IRS Audit
While you cannot fully control whether the IRS audits you come tax season, there are measures you ca...
Learn MoreWhat Business Owners Need To Know About Depreciation
Depreciation is an annual tax deduction that allows small businesses to recover the costs of certain...
Learn More2022 Tax Incentives for Manufacturing Companies
Section 179 Federal Tax Deduction increased to $1,080,000 Section 179 Federal Income Tax Deduction:...
Learn MoreNow’s the Time to Start Year-Round Tax Planning
Numerous tax experts agree that addressing your tax liability effectively requires planning througho...
Learn MoreDeducting Business Expenses: Separating Fact From Myth
When you're filing your tax returns, what expenses can you deduct from business income? It's a com...
Learn MorePayroll Tax Rates and Contribution Limits for 2022
Below are federal payroll tax rates and benefits contribution limits for 2022. Avoid any penalties o...
Learn MoreJanuary Tax Due Date is Approaching
It is time for businesses to start preparing for their tax filings. January 31 is the due date for m...
Learn MoreFiguring Out Your Business Taxes
The type of business will determine the type of taxes that will be required to be remitted. Income ...
Learn MoreBusiness Deductions: A Quick Review
You have a lot of expenses when running a business. Are any of them deductible? To begin with, a d...
Learn MoreEmployers Get Tax Breaks for Vaccination Leave
Small and midsize employers, and certain governmental employers, can claim refundable tax credits th...
Learn MoreEmployee Retention Credit: Further Guidance
In COVID Tax Tip 2021-123, the IRS clarifies some of the confusion surrounding the powerful but comp...
Learn MoreChild Tax Credit Advance Payments
The IRS has started sending out letters to families who may qualify for advanced payments of the chi...
Learn MoreThe US Tax System Explained
I was having lunch with one of my favorite friends last week and the conversation turned to the gove...
Learn MoreLand 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...
Learn MoreThe Secure Act of 2019
On December 20th, President Trump signed into law the Secure Act, a funding bill that also included ...
Learn More1099-Misc: Nonemployee Compensation Best Practices
1099 Miscellaneous (1099-Misc) forms need to be filed for a multitude of reasons. The 1099-Misc we m...
Learn MoreIs Cash Really King in Small Businesses?
Although cash may be king, there are more accounts that business owners need to look at when determi...
Learn MoreTCJA for Contractors
The Tax Cuts & Jobs Act (TCJA) impacted all taxpayers. While many taxpayers took a hard look at the ...
Learn More2019 Year-End Tax Planning
Year-end tax planning in 2019 remains as complicated as ever. Notably, we are still coping with the ...
Learn MoreSide Hustles and Taxes
According to NPR, 30% of Americans do something else for pay in addition to their full-time job. Mos...
Learn MoreUnderstanding the 2020 Form W-4
The Tax Cuts and Job Act (TCJA), enacted in December of 2017, brought new Federal withholding tables...
Learn MoreFocus. 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...
Learn MoreDeductibility and Accounting Related to Meals and Entertainment
The Tax Cuts and Jobs Act (TCJA) made several changes to deductions for meal and entertainment expen...
Learn MoreTax 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...
Learn MoreTax Planning Strategies for 2019
We often get asked how we can save our clients’ money, and as most answers to tax-related questions ...
Learn MoreIowa First Time Homebuyers
The Iowa first time homebuyer savings account is a deduction that most people are not familiar with,...
Learn MoreHistoric Tax Credits – Third of a Three-Part Series
Iowa Historic Tax Credits: Qualified Rehabilitation Expenditures So far, the Historic Tax Credit (H...
Learn MoreSales 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...
Learn MoreChanges 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...
Learn MoreWhat Are You Withholding?
Have you checked your current withholdings lately? No one likes surprises when it comes to paying ta...
Learn MoreDrive 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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