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

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

Four Score and Seven Years of Tax Reform

In early June, Tim and I had the opportunity to attend a two – day conference on farm income tax and estate planning out in Shippensburg, Pennsylvania, which is approximately 30 miles west of Gettysburg.  At the forefront of tax law for 2018 will be the Tax Cuts and Jobs Act.  Or as it is… Read More

Section 529 College Savings Plans – Are they worth the hassle?

529 plans became popular years and years ago. For many parents (and grandparents/others too!), they’re a great way to save back some tuition money for kids, in preparation for that ever increasing college cost. 529 plans grow tax free, and when the money is taken out of the account for higher education purposes, it is… 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