The straight line

In mid-June the IRS released proposed regulations (156 funfilled pages) providing guidance to cooperatives and their patrons regarding the deduction for qualified business income (QBI) under section 199A(a) of the Code. This guidance also included specified agricultural and horticultural cooperatives (“specified cooperatives”) and their patrons regarding the deduction for domestic production activities under section 199A(g)...

The IRS recently released a proposed revenue procedure providing computational guidance on methods and appropriate sources of data for calculating W-2 wages for purposes of section 199A(g) of the Internal Revenue Code (IRC). The notice provides three methods for calculating W-2 wages, limiting the amount of the deduction available to agricultural and horticultural cooperatives to...

Gardiner + Co. is honored to announce Elizabeth Thyer’s 20th anniversary with the company! In her time here Elizabeth has been a critical part of our success, and an invaluable resource for our clients—especially our municipal and government clients. Those who have worked with Elizabeth know she’s constantly learning and challenging herself to better support...

Each year the company offers the Daniel Gardiner Memorial Scholarship in honor of my dad, founder of Gardiner + Company. The scholarship is awarded to Waukee High School graduates who plan to attend a post-secondary school and pursue a degree in accounting. This year, there were three candidates awarded scholarships. The three candidates will each...

The Governmental Accounting Standards Board (GASB) has issued two new statements that will be implemented for the fiscal year ending June 30, 2019. The first is GASB Statement No. 83, Certain Asset Retirement Obligations (GASB 83). This statement establishes the accounting and financial reporting standards for legal obligations to retire certain assets. For this standard...

Over the past several years we have seen many of our clients enter into interest rate swap agreements in an effort to stabilize interest expense. An interest rate swap is a forward contract in which one stream of future interest payments are exchanged for another based on a specified principal amount. The most common type...