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Tax credits and deductions can allow your company to save money, improve production quality and incr...
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The latest edition of The Building Blocks is here! In this edition, we discuss compliance changes to...
Learn MoreThe Production Line - November 2021
The newest edition of The Production Line is here! In this edition, we look at research and developm...
Learn MoreApplying ASC 606 in Construction
In simple terms, if you're in the business of entering contracts to deliver goods or services to cus...
Learn MoreInventory Management: Keys to a Lean Operation
Longer timelines are often a natural part of manufacturing anything. Unlike ready-made items or serv...
Learn MoreSupply Chains and Logistics
How can my accountant help with supply chain issues?Supply chain management involves controlling the...
Learn MoreBalance Sheets and Property Profitability
Owning a real estate business comes with a host of responsibilities, including understanding your ba...
Learn MoreA Fresh Look at Revenue Management for the Manufacturing Industry
The survey "The New World of Revenue Management," conducted by the Institute of Management Accountan...
Learn MoreConstruction: Managing Cost Segregation
Cost segregation separates buildings into a set of components that may be depreciated over 5, 7 or 1...
Learn MoreThe Building Blocks - October 2021
The latest edition of The Building Blocks is here! In this edition, we cover cost segregation for co...
Learn MoreEmployers Get Tax Breaks for Vaccination Leave
Small and midsize employers, and certain governmental employers, can claim refundable tax credits th...
Learn MoreThe Production Line - October 2021
The newest edition of The Production Line is here! In this edition, we cover factory automation gran...
Learn MoreFactory Automation Grants - How They Help Your Business
From the federal government to state and local governments, there are over $80 billion dollars avail...
Learn MoreHow Cost Segregation Can Help Your Manufacturing Operations
Cost segregation is the Internal Revenue Service’s (IRS) approved method of reclassifying your comme...
Learn MoreThe Building Blocks - September 2021
Welcome to The Building Blocks - our monthly Construction and Real Estate industry newsletter. In th...
Learn MoreEmployee Retention Credit: Further Guidance
In COVID Tax Tip 2021-123, the IRS clarifies some of the confusion surrounding the powerful but comp...
Learn MoreThe Production Line - September 2021
Welcome to The Production Line - our monthly Manufacturing and Distribution industry newsletter. In ...
Learn MoreThe Tax Route - September 2021
With many changes continuing to take place in the transportation industry, our team is committed to ...
Learn MoreProvider Relief Funds Reporting
As part of the government’s COVID-19 relief strategy, the Human Health and Services (HHS) department...
Learn MoreState Tax Alert
State and local taxes change frequently throughout the year. To help, MHCS has created State Tax Ale...
Learn MoreRevenue Recognition for Not-for-Profit Entities
Revenue recognition timing is being determined by a new 5-step revenue recognition model due to a ne...
Learn MoreShuttered Venue Operators Grant
The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit S...
Learn MoreChild Tax Credit Advance Payments
The IRS has started sending out letters to families who may qualify for advanced payments of the chi...
Learn MoreState Tax Alert
State and local taxes change frequently throughout the year. To help, MHCS has created State Tax Ale...
Learn MoreThe Tax Route Special Edition - April 2020
We hope you are all staying safe and healthy during this unique time. As the COVID-19 pandemic conti...
Learn MoreRecurring Accounting Services
Not-for-profit organizations all have one thing in common; a mission to serve and support a need in ...
Learn MoreDeadline Approaching: Paycheck Protection Program Loans Expanded to Include Trade Associations
The 2021 Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act signed into law on De...
Learn MoreMHCS State Tax Alert - Illinois
State and local taxes change frequently throughout the year. To help, MHCS has created State Tax Ale...
Learn MorePresentation and Disclosures by Not-for-Profit Entities
On September 17, 2020 the Financial Accounting Standards Board (FASB) issued Accounting Standards Up...
Learn MoreNot-for-Profit Reserve Spending
As the COVID-19 pandemic continues, an increasing number of nonprofits will face economic challenges...
Learn MoreAssurance Levels
Most of us don’t have extensive mechanical knowledge or tools to determine if a used car has been we...
Learn MoreInformation Overload
I think I can speak for more than myself when I say my eyes have started to glaze over when I see ye...
Learn MoreAssociation Retirement Plans
In the Retirement Plan industry, there has been a lot of buzz lately about organizations being able ...
Learn MoreThe Tax Route - February 2020
We hope you are doing well and are enjoying the beginning of this new year. We are in full swing pre...
Learn MoreState Apportionment - Brokerage Income
How is your company allocating brokerage derived income for state apportionment purposes? In Febr...
Learn MoreState Tax Alerts
New Jersey – New Jersey created an elective entity-level tax for passthrough entities with an inco...
Learn MoreThe US Tax System Explained
I was having lunch with one of my favorite friends last week and the conversation turned to the gove...
Learn MoreHere is Your First Edition of The Vitals Report
Welcome Friends! We are excited to share with you the first edition of the MHCS Vitals Report. Each...
Learn MoreHealth Care Client Spotlight: Dr. Mark Belz, Iowa Kidney Physicians
When Dr. Mark Belz’s mother took a job as a nurse practitioner at the University of Pittsburgh Medic...
Learn MoreGreat Iowa Treasure Hunt
We all have heard of the Great Iowa Treasure Hunt and maybe even found some money with our name on i...
Learn MoreHIPAA Risk Assessment
The requirement for Covered Entities to conduct a HIPAA risk assessment is not a new provision of th...
Learn MoreLand Sales, Taxpayer Considered a Dealer or Investor
When land is sold, long-term capital gain rates are often assumed. While these rates may apply to th...
Learn MoreWhat is a PBC List and How Can It Help an Audit?
Some of you might be wondering what exactly is a PBC list and its’ purpose. A PBC list, also known a...
Learn MoreReminder of Payroll Changes: Are You Ready?
We would like to remind all employers about the following payroll changes that went into effect Wedn...
Learn MoreThe Secure Act of 2019
On December 20th, President Trump signed into law the Secure Act, a funding bill that also included ...
Learn More1099-Misc: Nonemployee Compensation Best Practices
1099 Miscellaneous (1099-Misc) forms need to be filed for a multitude of reasons. The 1099-Misc we m...
Learn MoreIs Cash Really King in Small Businesses?
Although cash may be king, there are more accounts that business owners need to look at when determi...
Learn MoreThe Latest Edition of the Tax Route Has Arrived
In this edition of the MHCS Tax Route learn about the best strategies for replacing equipment, Iowa ...
Learn MoreTCJA for Contractors
The Tax Cuts & Jobs Act (TCJA) impacted all taxpayers. While many taxpayers took a hard look at the ...
Learn More2019 Year-End Tax Planning
Year-end tax planning in 2019 remains as complicated as ever. Notably, we are still coping with the ...
Learn MoreFraud. It’s Such A Scary Word.
In my career as an auditor of many small and medium-sized business, I’ve found that people generally...
Learn MoreSide Hustles and Taxes
According to NPR, 30% of Americans do something else for pay in addition to their full-time job. Mos...
Learn MoreCloud Computing Guidance for Non Public Companies
There is a new guidance related to accounting for changes in how customers account for implementatio...
Learn MoreUnderstanding the 2020 Form W-4
The Tax Cuts and Job Act (TCJA), enacted in December of 2017, brought new Federal withholding tables...
Learn MoreAcquiring a Business? Let Us Help!
Are you or someone you know planning on starting or acquiring a business but are overwhelmed with un...
Learn MoreFocus. Think Ahead. Be Creative.
One of my favorite things to do is play pool. When my wife and I were looking at houses this past su...
Learn MoreDeductibility and Accounting Related to Meals and Entertainment
The Tax Cuts and Jobs Act (TCJA) made several changes to deductions for meal and entertainment expen...
Learn MoreRed Flag Reporting: Fraud Detection Through Employee Whistleblowing
A main way fraud is detected is through employee whistleblowing and a key prevention is to provide e...
Learn MoreTax Planning Strategies For 2019: How Can You Act Now?
As you can imagine, we are often asked how we can help save money and as most answers to tax-related...
Learn MoreTax Planning Strategies for 2019
We often get asked how we can save our clients’ money, and as most answers to tax-related questions ...
Learn MoreFRF for SMEs (part 2)
Previously, Assurance Shareholder, Wendy Moran discussed what the Financial Reporting Framework (FRF...
Learn MorePlanning for Changes
Big life changes are hard for just about everyone. One thing that can make any change easier is plan...
Learn MoreIowa First Time Homebuyers
The Iowa first time homebuyer savings account is a deduction that most people are not familiar with,...
Learn MoreBusiness Succession
During the life cycle of a business, goals can be drastically different. Early on the goal may be ju...
Learn MoreFive Ways to Bring Life to Financial Reports
As the financial report is given at your monthly board meetings, what is the atmosphere like? Are al...
Learn MoreFinancial Reporting Framework for Small and Mid-Sized Companies
Wendy Moran, Assurance Shareholder, has previously shared the significant changes coming up for GAAP...
Learn MoreHistoric Tax Credits – Third of a Three-Part Series
Iowa Historic Tax Credits: Qualified Rehabilitation Expenditures So far, the Historic Tax Credit (H...
Learn MoreSales Tax Compliance and Solutions
Sales tax is a hot topic right now due to the recently passed law of a 1% local sales tax raise in m...
Learn MoreThe Latest Edition of the MHCS Tax Route Has Arrived
In this edition of the MHCS Tax Route learn about the New Revenue Recognition Guidance, read part tw...
Learn MoreThe Tax Route - March 2019
In this edition of the MHCS Tax Route learn about the latest Tax Cuts and Jobs Act update, read abou...
Learn MoreChanges to Personal Taxation on the Federal Income Tax Level
Tax Reform has caused many changes to personal taxation on the federal income tax level. Today, Nick...
Learn MoreWhat Are You Withholding?
Have you checked your current withholdings lately? No one likes surprises when it comes to paying ta...
Learn MoreDrive Up
I just bought a new car for business. How much of the cost can I deduct?” As a CPA, this is by far o...
Learn MoreMHCS Earns Several Recognitions & Awards
McGowen, Hurst, Clark & Smith, P.C. has been recognized by several organizations on both local and n...
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