If you own an agricultural business that has been impacted by the COVID-19 pandemic, consider applying for the EIDL (Economic Injury Disaster Loan and Advance). The SBA opened up a special application period for agricultural businesses on May 4th, 2020.…
The IRS issued regulations on Tuesday, 5/12/2020 that could impact your health insurance plan, health flexible spending accounts (FSA’s), and dependent care assistance. There are two broad changes that you may hear more about in the coming weeks: The IRS…
If you are a targeted small business and are experiencing a business disruption due to the COVID-19 pandemic, we encourage you to look into applying for a grant of up to $10,000 with Iowa Economic Development: https://www.iowaeconomicdevelopment.com/programDetails?pid=137&ppid=26 Businesses with no…
You’ve signed your individual tax return along with the authorization forms allowing BakerStarrett LLP to electronically file your tax returns. You’re done right? That depends on if your tax return shows a refund or amount due. If you owe While…
An independent division within the IRS called the Taxpayer Advocate Service (TAS) recently pulled back the curtain and provided some transparency into the process your tax return goes through when it is received by the IRS. The Taxpayer Roadmap attempts…
Many educational and financial institutions prompt students and customers to receive their tax documents electronically. While electronic delivery saves on paper and mailing costs, it requires additional steps from you, the taxpayer. Below are a few pointers on how to…
This blog compiles a list of common tax documents that you should send to BakerStarrett so that we can accurately complete your 2020 tax return. Please remember that while most tax documents are mailed to you, many financial and educational…
It’s mid-January again, and it finally feels like winter has arrived in Central Iowa. Which must mean it’s time to start thinking about tax season! I outline below 4 easy ways to get organized to make this tax season a…
Our last blog on security (found here) highlighted how to create and use strong passwords to reduce the risk of having your online accounts taken over in a “brute force” attack. This blog post will look at how you can…
Our last blog on security (found here) discussed the importance of creating unique passwords. Each login should have its own password. This way a data breach by one company will have limited damage, because bad actors cannot use one password…
