Iowa Beginning Farmer Tax Credit Update 2014

The Iowa Finance Authority has revised the Beginning Farmer Tax Credit Program summary effective October 1, 2013 (10/01/13). For 2014, a beginning farmer may be qualified if their net worth is less than $678,731 according to the Iowa Finance Authority’s notice for January 1, 2014. Currently, the program summary contains an error in stating that […]

Iowa Beginning Farmer Tax Credit Calculator

I created a couple worksheets in Google Docs to help calculate a comparison of the Iowa Beginning Farmer Tax Credit on a crop share basis and a cash rent basis. I wanted to share this worksheet to help others evaluate their options and make better decisions. The main conclusion I’m seeing is that the amount […]

Where’s my refund?

Expecting an income tax refund? You can find your IRS refund here. Have your social security number, filing status, and refund amount ready. You can find your Nebraska refund here. Have your social security number and refund amount ready. You can find your Iowa refund here. Have the tax year, social security number, and refund […]

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Where’s my refund?

Expecting an income tax refund? You can find your IRS refund here. Have your social security number, filing status, and refund amount ready. You can find your Nebraska refund here. Have your social security number and refund amount ready. You can find your Iowa refund here. Have the tax year, social security number, and refund […]

MACRS HY Depreciation Schedule

Just to show how big of a dork I am, I wanted to share a spreadsheet that I made in Excel originally, then realized it was simple enough to even be used as a Google Document. It’s set up to put in the asset information you have, then figure the MACRS depreciation based on the […]

Somebody has to pay taxes

A lot of people are getting fired up talking about significant income tax reform. Everyday there is someone posting on Twitter about income tax being unconstitutional or that the founders would be rolling in their graves about it. While that may be a fair point, no one seems to offer a viable solution. It would […]

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Review #5: Wave Accounting

I want my clients to keep a good set of books so that I can help them make good decisions. I also want them to have as few barriers to getting that system running as possible, including the excuse of how costly it is. This is where Wave has given me an opportunity to recommend a […]

Review #4: LessAccounting

If you have a Schedule C business (sole proprietor), LessAccounting wants to be your one stop bookkeeping shop. The key for LessAccounting is being an integrated solution rather than having to stop by one program for invoicing, another for bookkeeping, and yet another for contact management. Goal: Simplify bookkeeping for micro-businesses (less than 20 employees […]

Review #3: Freshbooks

Freshbooks was not intended to be an accounting system. Freshbooks still claims to not be an “accounting package” although it allows you to produce a profit and loss statement for your business by entering non-billable expenses as well as billable expenses into the system (in other words, you can track all your expenses, not just […]

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Local Tax News

Le Mars budget outlook worrisome

LE MARS — One Le Mars City Council member is particularly concerned with the mounting pressures forecast to strain the city’s budget during the next decade. With changes to Iowa’s property tax laws under the state’s tax relief package, SF 295, Le Mars…

10 Ways the EXPAND Act Would Take the Energy Market in the Right Direction

The federal government … the economic development of energy and large infrastructure projects. EXPAND would put an end to this. 5. Removes the Picking of Winners and Losers in the Tax Code. Targeted tax credits exist for almost all sources of energy …

Polk County looks into mental health crisis center

The center would focus on people that have mental health issues but don’t need hospitalization and shouldn’t be taken to jail. They would be helped for up to 23 hours. The Des Moines Register reports (http://dmreg.co/1enqpB2 ) The county …

Slone enters governor’s race, campaigns in Chadron

Bryan Slone, a Republican candidate for the governor’s seat … Slone also said he would like the university system to become more of an economic partner in improving the state’s economy. His father was a superintendent so he is also familiar with …

FD city property tax rate going down

Also included are taxes for the Fort Dodge Community School District, Webster County and Iowa Central Community College. The city tax rate consists of these elements: – $8.10 for the general fund, which pays for police and fire protection, parks and …

Think Tank says reducing ag land valuation in Nebraska would benefit only a few

LINCOLN — A Lincoln think tank says that lowering the valuation of agricultural land for tax purposes — which is backed by Gov. Dave Heineman and farm groups — would benefit only a few farmers and ranchers who live near urban areas.

Humboldt Supervisors support fuel tax increase

DAKOTA CITY – The Humboldt County Board of Supervisors approved a resolution calling for an increase in the state’s fuel tax Monday. The Iowa Association of County Supervisors is circulating a resolution asking for support to increase the fuel tax, whi…

Transportation Funding Very Uncertain in Many States

The state has used money from the sale of unclaimed property … connecting Washington state to Canada, put the condition of the state’s infrastructure in the national spotlight. But Gov. Inslee has not found a way to get a gas tax hike …

Gas tax increase in Iowa? Ask Branstad, transportation director says

Iowa Department of Transportation Director Paul Trombino III deflected questions about a possible fuel tax increase Monday, telling a Senate panel to ask the governor what he wants to do about the state’s road system. State Sen. Tod Bowman, D …

‘Progressive’ income tax a real concern

Hang on to your pocketbooks, the politicians are getting restless. They want more of your money. Never mind that the Illinois Legislature jacked up your state income tax with a temporary increase from 3 percent to 5 percent three years ago. At least th…

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