Per Diem Rate for Truckers

Notice 2018-77 just released the new 2018-2019 special per diem rates for those in the transportation industry. The new meal and incidental expenses (M&IE) rates for truckers is $66 per day. This is up from 2017 where the rate was $63 per day. The new rate is in effect for meals on or after October… Read More

Payroll 101

If your business has employees, you’ll have to do payroll. There’s no way to avoid it, but what really is payroll? There are 4 basic components to payroll: Paying employees compensating employees for the work they doWithholding and paying taxes both employee and employer taxesReporting to the governmentboth state and federalMaintaining labor compliance minimum wages,… Read More

Iowa Small Business Summit

You’re invited to attend the Iowa Small Business Summit on September 6th in Grinnell, Iowa where you will join other small business owners/managers at this free event. Meet one of the people behind the summit and learn what will help make your small business the best it can be. From marketing to advertising to media relations to… Read More

A Taste of Taxes in Texas

In June, I had the opportunity to attend a three-day conference hosted by the National Restaurant Association for financial officers and tax executives in San Antonio, Texas. The first day of the conference focused on the restaurant industries trends and showed us how to have constructive engagement through awareness windows to become better leaders. The… Read More

2018 W-4 Has Arrived

The Internal Revenue Service has released the updated Form W-4 (here) for 2018. Along with the W-4, they have released an updated Withholding Calculator to help taxpayers check their 2018 tax withholding following the Tax Cuts and Jobs Act that was passed in December 2017. Changes to the tax law were made with the Tax Cuts… Read More

New Payroll Withholding Tables Released

The Internal Revenue Service has released updates to the income tax withholding tables for 2018 which reflect the changes made by the recent tax reform. Their goal was to design the new withholding tables to work with the Form W-4’s that employees have already filed with their employers. The new payroll withholding tables can be… Read More

Why Gross Vehicle Weight Matters For Depreciation Purposes

For the 2017 tax year the Federal Section 179 depreciation deduction limit is now at $500,000, it is easy to think that any fixed asset classified as personal property can now be expensed.  However, in the year of purchase, it is important to remember the depreciation limits on passenger automobiles and trucks.  A passenger automobile… Read More

Do I need to fill out a new W-4 due to tax reform?

With tax reform taking place, a big question that is getting asked is “Do I need to be filling out a new W-4 to reflect the changes?” A statement was put out by the IRS stating that they are working on developing withholding guidance and will be issuing this in January. Employers will be encouraged… Read More