You electronically filed your returns on or before April 15th and have received your federal refund weeks ago. But still no Iowa refund. Where is your Iowa refund?
Accounting
Employee or Independent Contractor? Business Owners Need to Define and Choose Wisely
With summer upon us, many business owners may decide to hire students who are home from college for summer break. This may lead to the question of whether the person hired is an employee or a contractor. What you decide can make a big difference in how their pay is figured and if you are required to withhold taxes for them or not.
Four Things Your Business Needs to Know Now
Change is in the air, at least when it comes to taxes. There is both good and bad within the new Tax Cuts and Jobs Act (TCJA) that was signed into law in late 2017; however, for most businesses a positive impact is expected. You have probably heard a lot about tax reform in the past month, but what are the things your business should know about right now to proactively plan for your 2018 tax return?
Christmas Gift from the President?
As I am sure you have heard, Congress passed new tax legislation just in time for President Trump to call it a Christmas gift from the White House. Well, we are yet to see how much of a gift it is, but one thing we do know is that it is going to change how your taxes are figured and, for at least the next year, it will complicate your tax return. So what was included in this gift? Let’s unwrap it and see.
Tax Reform – To Be or Not To Be? That is the question.
I have to admit that I have been fairly pessimistic that any tax reform will happen, especially in 2017. However, I am hearing from more and more national sources that it is looking more likely to happen. But there are still lingering questions: When will it be enacted? Will it affect 2017? What will be included in the bill? Here is what I am hearing. (more…)
Is Paying Less Tax Good for Your Health?
The Senate recently released the draft of their health care billed named The Better Care Reconciliation Act of 2017 (BCRA), which replaces many of the tax provisions of the Affordable Care Act (ACA). If paying less tax is better for your heath, then this bill should give you a boost. Here is a summary of the key tax provisions included in this bill. I will leave the analysis and any questions you have on the health insurance side of the bill related to changes in cost, coverage and availability to my fellow Business Warrior, Janis VanAhn. (more…)
Credit Report Errors: A Most Un-Fun Surprise
Recently, a colleague of mine and her husband experienced what it’s like to find out you have a credit report error… the hard way. She is hoping her experiences will allow others to see the importance of staying on top of keeping a clean credit report and how simple it can actually be. Read on for her story!