by TJS Staff | Jan 6, 2020 | Rules & Laws, Taxes
As we enter the 2019 filing season we now have a year of the Tax Cuts and Jobs Act (TCJA) of 2018 under our belts. During the 2018 filing season there was still a lot of “gray area” when it came to the Qualified Business Income Deduction (QBI) and what qualified for...
by TJS Staff | Jan 2, 2020 | Rules & Laws, Taxes
When you complete the questions in your 2019 organizer, pay special attention to the last question in the Income section, “At any time in 2019 did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?” This ‘Yes’ or...
by TJS Staff | Jan 2, 2020 | Rules & Laws, Taxes
The Internal Revenue Service today issued the 2020 optional standard mileage rates (PDF) used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on January 1, 2020, the standard mileage rates...
by TJS Staff | Nov 5, 2019 | Taxes
The Iowa Society of CPAs has published a tip sheet for nonprofit organizations as well as a general tax tip for businesses. You can find these tip sheets below. 2019 Nonprofit Tips 2019 Tax...
