Increased Mileage Rates for 2022
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…
Meet Angie!
Joining our team in August of 2021, Angie Van Ersvelde assists our clients with their monthly bookkeeping and accounting service needs. Angie has more than 30+ years of accounting experience and she obtained her Quickbooks Pro Advisor certification in late…
Two Important IRS Letters to be on the Lookout For this January.
Be on the lookout for two very important letters coming in January from the IRS. The Third Stimulus Payment (Letter 6475) and Advanced Child Tax Credit payments (Letter 6419). Preparation of your tax return could be delayed without these letters.…
Mismatches – IRS Notice CP-2100A
Issuing 1099’s in January may seem like it was months ago but eventually the IRS sorts through all of the forms and is able to identify mismatches or missing information on the 1099’s that were issued. For many businesses, the…
Celebrating Ten Years in Business
Today, on October 3rd, 2021, we are celebrating TEN YEARS in business!! As we look back over the past 10 years we are so thankful for all of our amazing clients and team members who have helped us get to…
COVID sick pay, family leave, and vaccination leave tax credits available through September 2021
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…
Child Tax Credit Advance Payments
Its July 15th 2021, and if you have kids under 17, the IRS may have sent you the first advance payment of the Child Tax Credit. As a reminder, the advance payment for kids under six is $300 monthly. The…
Child Tax Credit 2021
Assume for a moment, you have a 14 year old child. Here are the two options the IRS is giving you to claim the child tax credit in 2021: Option A: Receive a $3,000 child tax credit when you file…
PPP Changes & Round 2 Availability
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…
Iowa Restaurant and Bar Relief Grant Program
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…