When President Biden signed the Inflation Reduction Act (IRA) into law in August, most of the headlines covered the law’s climate change and health care provisions. But the law also enhances an often overlooked federal tax break for qualifying small businesses. The IRA more than doubles the amount a qualified business can potentially claim as a research and development (R&D) …
The U.S. Senate and House of Representatives have passed the Inflation Reduction Act (IRA). President Biden is expected to sign the bill into law shortly. The IRA includes significant provisions related to climate change, health care, and, of course, taxes. The IRA also addresses the federal budget deficit. According to the Congressional Budget Office (CBO), the IRA is projected to …
Many future retirees are seeking ways to maximize their retirement income. Once retired they may plan to take more trips, they may have more healthcare costs, or they may need to cover their living costs. The good news is that there is a way to increase your social security benefits by 8%. If you draw Social Security benefits at your …
As a child I watched the superhero cartoons and read the comic books. At the time I found I was more fascinated with the villains. They had the cooler costumes and had the latest technology and gadgets. The villains appeared to just have more fun! And who doesn’t want to have fun, right? The villains also had the beautiful …
Like so many kids, I grew up wanting to be a superhero. So when I had the opportunity to become a D.K. Arndt superhero, I did not hesitate. Being T.P Man has brought me great pride and honor. Saving someone in distress from E Val Iris is what you got to see. Throwing pens with speed and accuracy may be …
What is a 529 plan? A 529 plan is an investment account that offers tax benefits when used to pay for qualified educational expenses. You can use a 529 plan to pay for college tuition, books, room & board during college, and K-12 tuition. There are many benefits to having an Iowa 529 College Advantage Plan. Just a few of the benefits are: …
It can be overwhelming to think about what receipts and papers are necessary to keep when filing your taxes. It is important to have information about your income, adjustments to your income, itemized tax deductions and credits, and taxes you’ve paid. What does all this mean? Let me show you a few examples of documents to keep for your taxes. …