Iowa Tax Reform 2018: What to Expect

On May 5, 2018, the Iowa Senate and House passed the Iowa Tax Reform Bill (Senate Filing 2417), and Governor Kim Reynolds signed the bill into law at the end of the same month. It is the largest tax cut in Iowa’s history and contains tax changes that will affect the 2018 tax year. This [...]

By | 2018-07-24T19:30:25+00:00 July 24th, 2018|Taxes|0 Comments

Tax Aftermath: How to Plan Better for Next Year

Tax season has now passed, and it’s time to create a more efficient game plan for next year. Unless you have a proper tax strategy prepared in advance, tax season can be a huge hassle. Fortunately, there are some relatively straightforward steps you can implement now to prepare for next year. If your taxes caused [...]

By | 2018-05-23T16:47:48+00:00 May 23rd, 2018|Taxes|0 Comments

Six Ways to Take Advantage of Incoming Tax Law Right Now

New tax rates and other provisions will go into effect on January 1. Below are several things you can do this year to take advantage of the changing tax code. Be sure to schedule an appointment with us before the end of the year to discuss if any of these strategies could benefit you. Give [...]

By | 2017-12-22T15:02:32+00:00 December 22nd, 2017|Taxes|0 Comments

Tax Reform Legislation Simplified

You may have seen some information in the news about the draft tax reform legislation that was released recently – both by the House and by the Senates. These proposed bills have many differences. Here is a simplified breakdown of the main differences between the two.   House Version  Senate Version Individual Tax Rates Four [...]

By | 2017-11-15T15:49:42+00:00 November 15th, 2017|Taxes|0 Comments

Five Smart Year-End Tax Strategies for Business Owners

It is almost the end of the year. Many small business owners are starting to think about their budgets and goals for next year, but have you thought about the things you can still do this year to reduce your tax bill? You can get significant tax savings with proper planning. Below is a list [...]

By | 2017-10-30T16:41:02+00:00 October 30th, 2017|Taxes|0 Comments

Five Reasons You Need A CPA to Prepare Your Taxes

There are so many options available for tax preparation - do it yourself software programs, tax preparation firms, accountants, CPAs – that it can be hard to decide which option is best for your particular needs. Let us help! Below are some great reasons to use a CPA (Certified Public Accountant) for your tax preparation [...]

By | 2017-10-18T16:53:28+00:00 October 16th, 2017|Taxes|0 Comments

Tax Deductions Vs. Tax Credits

Future Tax Rates Deciding between a Traditional or Roth IRA depends, basically, on how you think your income – and by extension, your income tax bracket – will compare to your current situation. In effect, you’re trying to determine whether the tax rate you pay on your Roth IRA contributions today will be greater or [...]

By | 2017-08-22T15:47:34+00:00 September 4th, 2017|Taxes|0 Comments

Investment Taxes Explained

The federal government taxes investable income such as dividends, interest, and rent on real estate, just to name a few. Tax on Dividends If you have money invested in a security (e.g. stocks, bonds, real estate) then there’s a good chance that you are receiving a dividend on each mutual fund or bond fund that [...]

By | 2018-08-06T20:06:57+00:00 August 22nd, 2017|Governments, Taxes|0 Comments

Roth IRA vs. Traditional IRA: Taxes

You’ve probably heard of these different account types, but perhaps you never nailed down the key differences. So first, let’s touch on the basics of these two IRA’s (Individual Retirement Accounts) and then we’ll get into the finer details and tax incentives.   Income Limits If you are under 70½ years of age, you can [...]

By | 2017-07-14T16:32:16+00:00 July 12th, 2017|Financial, Taxes|0 Comments