Construction & Real Estate
What’s It Cost?
After years of relative stability, construction costs have begun to see upward volatility in several key categories. Steel, fuel and labor have all seen prices rise higher than the overall rate of inflation. In the case of steel and fuel, the increases are rebounds from cyclical lows. Given that incidence rate of those basic materials, […]
As the presidential political season approaches its climactic months, there is growing evidence that the U.S. economy is functioning far better than the headlines. At its foundations, however, the economy is showing cracks. Businesses have slowed the pace of hiring. Corporate earnings continue to decline. Uncertainty about the coming year, perhaps magnified by election rhetoric, […]
New Lease Accounting Standards
On February 25, 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) aimed to improve financial reporting of leasing transactions. This update affects all companies that lease assets such as real estate, airplanes, construction and manufacturing equipment. The most significant impact is that traditional operating leases will be on the balance […]
Should You Be Thinking About an ESOP?
An Employee Stock Ownership Plan (ESOP) is a type of retirement plan that is “qualified” under the Internal Revenue Code. With a “qualified” retirement plan, comes federal tax advantages to the companies that sponsor such a plan for their employees as well as for those employees. A 401(k) plan is the most common type of qualified retirement plan.
Heavy vehicle use tax
The heavy vehicle use tax, or HVUT, is a fee assessed annually on heavy vehicles operating on public highways at registered gross weights equal to or exceeding 55,000 pounds. Gross taxable weight of a vehicle is determined by adding: Actual unloaded weight of the vehicle fully equipped for service, Actual unloaded weight of any trailers […]
How the IRS views your investments
When it comes to taxes, all investments aren’t created equal — everything depends on their character and timing. So before you sell appreciated stock, buy interest-bearing bonds or even rebalance your portfolio, learn the tax consequences. Deferring vs. paying now The first distinction is between taxable and tax-deferred accounts. Retirement accounts such as traditional 401(k)s […]
A look at the fuel tax rate increase
Earlier in 2015, Iowans were keeping a close eye on the news for a possible fuel tax rate increase. The proposal, which each year would generate $200 million in new transportation funding, passed in the Iowa Senate and House last March. Supporters of the gas tax believe this is the best way to increase transportation […]
What should know about the 2015 tax filing season
The 2015 tax filing season was predicted to be “one of the most complicated filing seasons we’ve ever had” by IRS Commissioner, John Koskinen. The 2015 filing season certainly brought about new questions, and fortunately answers, but it also brought about areas in need of further explanation. For example, for the first time, return filers […]
Summary of fiscal 2016 budget proposal
President Obama recently released his Fiscal Year 2016 federal budget proposal. This proposal includes items that could affect tax incentives for families, education tax breaks, new retirement savings opportunities and potential tax increases for higher-income taxpayers. We have highlighted some of the major items within the proposal below. 28-Percent Top Capital Gains Rate The President […]