Due to the rise in fuel prices, the IRS issued an increase in standard mileage rates for the second half of the year. Effective from July 1, 2022 through December 31, 2022: 62.5 cents per mile for business miles driven…
Beginning January 1, 2022 the standard mileage rates are: 58.5 cents per mile for business miles driven (up from 56 cents in 2021) 18 cents per mile for medical or moving purposes (up from 16 cents in 2021) 14 cents…
As we see COVID cases and hospitalization rates increase in recent weeks, we would like to remind employers in Central Iowa that COVID relief legislation includes payroll tax credits (available through September 30, 2021) to help reduce the spread of…
As seems to be the ongoing trend….the Paycheck Protection Program (PPP) has changed again. Here’s what we know as of now! The Biden administration announced new rules, changing eligibility for self-employed (schedule C) businesses. PPP loans can now be based…
The Iowa Restaurant and Bar Relief Program will provide financial relief to some of the most impacted businesses during the COVID-19 pandemic, restaurants and bars. Eligible businesses must show a decrease in gross sales of at least 15% during the…
The Paycheck Protection Program is reopening for applications again today. Please review the important information below outlining updates to the Paycheck Protection Program. If you would like BakerStarrett’s assistance determining eligibility and applying for a PPP loan (this is a…
Beginning January 1, 2021 the standard mileage rates are: 56 cents per mile for business miles driven (down from 57.5 cents in 2020) 16 cents per mile for medical or moving purposes (down from 17 cents in 2021) 14 cents…
DISCLAIMER: The information below is based upon the most recently proposed legislation by Congress known as the COVID Relief Bill. This bill has not yet been signed or approved by the Office of the President as of the date of…
Many fiscal year ends are quickly approaching and with that, tax returns will begin to be prepared. Below are five reasons why reconciling your bank accounts is important: You always know how much cash you have available You can give…
With FEMA individual assistance now declared for additional Iowa counties, we wanted to make sure we updated you on information related to storm relief for individuals AND businesses alike. Currently this applies to those located in these Iowa counties: Linn,…
