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Tax & Accounting

work from home tax deductions

Personal Rentals for Business: What’s Considered Taxable Income vs. a Deduction, or Neither?

By K·Coe Editorial | September 17, 2020
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Reading Time: 2 minutes
The Internal Revenue Code provides guidelines for what activities constitute income or deductions for individual residences.  Below is a high-level overview for consideration. Residence rentals:  If an individual rents out a dwelling they use as a residence for fewer than 15 days per year, neither income nor deductions relating to …

Read morePersonal Rentals for Business: What’s Considered Taxable Income vs. a Deduction, or Neither?

Pro Tax Tips in a Strained Ag Economy

New IRS Guidance Released to Help Employers Make Payroll Tax Deferral Decisions

By K·Coe Editorial | August 31, 2020
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Reading Time: 3 minutes
You may remember that earlier this month, the President signed an executive order directing the Department of Treasury to defer withholding, deposit, and payment of employees’ social security taxes through the end of 2020.  At that point, K·Coe advisors recommended to hold tight as clarifications were needed to answer implementation …

Read moreNew IRS Guidance Released to Help Employers Make Payroll Tax Deferral Decisions

In Wake of Disaster, How to Minimize Taxes on Insurance Proceeds

How to Handle Property Casualties in the Wake of Disaster

By K·Coe Editorial | August 25, 2020
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Reading Time: 4 minutes
As fires rage and rampage through large areas of California, the destruction of residences, outbuildings, and commercial buildings has been widespread. K·Coe Isom has been fielding questions and concerns from many of our clients regarding their property casualties from the derecho, hurricanes, and fires. Our business advisors have created an …

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Secure Act

Employers with Retirement Plans Get Increase in Tax Credits

By K·Coe Editorial | August 24, 2020
Reading Time: 2 minutes
The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) includes increased tax credits for qualified costs incurred in the setup and administration of an eligible retirement plan. Eligible employers may be able to qualify for a tax credit up to $5,000 for each of the first …

Read moreEmployers with Retirement Plans Get Increase in Tax Credits

Economic Disruption

5 Tips to Move Ag Business Forward During Economic Disruption

By K·Coe Editorial | August 20, 2020
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Reading Time: 3 minutes
While production agriculture is no stranger to facing adversity and adaptation, no one could argue that the Economic Disruption caused by the COVID-19 pandemic has required unprecedented response and strategy. As business advisors, K·Coe has been on the front lines of hearing concerns, navigating issues and fielding questions during these …

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Iowa Producers

2020: A Year of Crisis and Hope

By K·Coe Editorial | August 17, 2020
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Reading Time: 3 minutes
I look out my window in Eastern Iowa and see uprooted oak trees that once stood as guardians of our neighborhood. A displaced street light pole threatens my dining room window, and my backyard has an extra trampoline – blown over from the neighbor’s yard 200 feet away. I can …

Read more2020: A Year of Crisis and Hope

Pro Tax Tips in a Strained Ag Economy

Executive Order on Employee Payroll Taxes: Should Employers Take Action?

By K·Coe Editorial | August 11, 2020
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Reading Time: 2 minutes
View the update from August 31, 2020 here. On August 8, the President signed an executive order directing the Department of Treasury to defer withholding, deposit, and payment of employees’ social security taxes beginning September 1 through the end of 2020. Employers and Employees Should Wait for More Guidance After …

Read moreExecutive Order on Employee Payroll Taxes: Should Employers Take Action?

Employer Leave Donation

Giving Back: IRS Eases Ability to Set Up Employer Leave Donation Programs for COVID-19 Victims

By K·Coe Editorial | June 25, 2020
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Reading Time: < 1 minute
In response to the need to provide relief to victims of the COVID-19 pandemic, many employers are considering Employer Leave Donation programs. Under these programs, employees may elect to forgo vacation, sick, or personal leave in exchange for employer contributions to charitable organizations. The icing on the cake?  The IRS …

Read moreGiving Back: IRS Eases Ability to Set Up Employer Leave Donation Programs for COVID-19 Victims

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