A flat tax bill passed the Iowa House and Senate last week and is expected to be signed by Governor Reynolds. Under current Iowa law, the highest personal income tax bracket will be 6.5% in 2023. With the new bill, the highest personal rate will be reduced to 6.0% in 2023, 5.7% in 2024, 4.8%...
keep readingHow often does your company update its approved vendor list? If you are unsure, it is probably a good time to revisit and clean up your listing. The master vendor file within your accounting system determines which vendors and customers your company has vetted to do business with. Without periodic review, it is easy for...
keep readingThe Transformational Leadership Program is a one-year accelerated “finishing school” for CPA and consulting firm new partners and emerging leaders. The TLP focuses first on individual mindset and behavior to drive change in thinking and personal responsibility, followed by strategies and actions to prepare them to lead their firm into the future. Congratulations to Robert...
keep readingEach year Gardiner + Company CPAs offers the Daniel Gardiner Memorial Scholarship in honor of my dad, founder of Gardiner + Company. The scholarship is awarded to this year’s graduates from Waukee High School in Iowa who plans to attend a post-secondary school and pursue a degree in accounting. This year’s winner is Ella Pedersen,...
keep readingSenate File 619 (SF 619) was signed into law on June 16, 2021 – this legislation makes a significant number of changes to Iowa tax law. Historically, Iowa has decoupled from federal bonus deprecation as the statutory definition of “net income” under Iowa Code required adding back federal bonus deprecation. SF 619 now conforms Iowa...
keep readingIn July 2019, the AICPA issued Statement on Auditing Standards (SAS) No. 136, Forming an Opinion and Report on Financial Statements of Employee Benefit Plans Subject to ERISA, which prescribed certain new performance requirements for financial statement audits of ERISA employee benefit plans and changed the form and content of the related auditor’s report. This...
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