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 do Withholding and paying taxes both employee and employer taxes Reporting to the government both state and federal Maintaining… 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

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

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

Standard Mileage Rate Drops for 2017

Beginning Jan. 1, 2017 the standard mileage rates will be: 53.5 cents per mile for business miles driven (down from 54 cents per mile in 2016) 17 cents per mile for medical or moving purposes (down from 19 cents per mile in 2016) 14 cents per mile for charitable organizations

QuickBooks Memorized Transactions

Do you ever get tired of entering the same transactions Month after Month? Ever scared you may forget an important payment? Let QuickBooks do the remembering for you with memorized transactions. Memorized transactions are just that; QuickBooks remembers how to enter the transaction for you, so there are no clerical errors month after month. You… Read More

MILEIQ App Review

MILEIQ App – Are you familiar with it? It’s the easiest and most user-friendly app to track an individual’s mileage. Let’s take a look at why this app has remained at the top of the App Store sales charts and why over 15,900 users have rated it 4.3 stars on Google Play. Automatic Detection MILEIQ… Read More

5 Reasons to Evaluate your Work in Progress Schedule

Many small contractors don’t take the time to evaluate their current jobs in progress. Here are a few reasons that may lead you to do so: Profitability Evaluation: by keeping close tabs on your job’s price quote, your expenses related to the job (don’t forget about salaries, including those of management and office personnel), and… Read More