Accounting and Tax Services for Small Businesses and Individuals in the Des Moines, Iowa Area and Beyond

Rental Owners, 1099s, And the New QBI Guidance

The IRS released a revenue procedure today (Friday) that clarifies the treatment of rental properties and the “qualified business income” deduction. The revenue procedure provides a safe harbor where rental activity can be presumed to be a “trade or business” for QBI purposes. This ties back into the 6-part series I posted a month ago about whether or not rental [...]

The Dinesen Tax Times

Rental Owners, 1099s, And the New QBI Guidance

January 18th, 2019|0 Comments

The IRS released a revenue procedure today (Friday) that [...]

Glossary: Form 1099-C

January 16th, 2019|0 Comments

Form 1099-C is a form used by lenders to [...]

Glossary: Railroad Retirement Benefits

January 9th, 2019|0 Comments

Railroad Retirement Benefits are a type of retirement benefit [...]

Small Business

1807, 2018

When and How to Fill Out a Form W-9

Image courtesy of user "myrfa" on Pixabay.com Today I want to write about Form W-9 and when it's used. My discussion will focus on [...]

1403, 2018

If a Not-for-Profit Loses Its Corporate Status, Does It Lose Its Tax-Exempt Status As Well?

If a not-for-profit loses its corporate status at the state level, does this affect its tax-exempt status with the IRS?

State Taxes

3110, 2018

Who Claims the Iowa Tuition & Textbook Credit for Dependent Children?

Image courtesy of Pixabay.com Iowa allows a tax credit of up to $250 for K-12 school-related expenses such as tuition, textbook purchases, and other [...]

2410, 2018

What is the Iowa School District/EMS Surtax?

This is an optional additional tax, assessed by school districts and (some) county EMS agencies, and collected on Iowa tax returns.