Details on the Iowa Inheritance Tax Repeal

On June 23, 2021   /   Elder Law West Des Moines, Estate & Trust Administration, Estate Planning West Des Moines, Probate Law West Des Moines, Taxation Law West Des Moines, Will & Trusts West Des Moines  
iowa inheritance tax repeal

In the past week, the Governor signed Senate File 619 which repeals the Iowa inheritance tax over the next five years.  Numerous attempts have been made over the past decade to eliminate or modify the Iowa inheritance tax.  Pursuant to the bill, for persons dying in the year 2021, the Iowa inheritance tax will be reduced by twenty percent.  For persons dying in the year 2022, the Iowa inheritance tax will be reduced by forty percent.  For persons dying in the year 2023, the Iowa inheritance tax will be reduced by sixty percent.  For persons dying in the year 2024,

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Professional Tax Preparation Recommended for Businesses

On January 28, 2019   /   Business Law West Des Moines, Contract Law West Des Moines, Corporate Law West Des Moines, Real Estate Law West Des Moines, Taxation Law West Des Moines  
professional tax preparation

The Tax Cuts and Jobs Act has added a number of complex issues to the tax preparation for businesses. Taxpayers who previously prepared their own tax returns with Schedule C’s or Schedule F’s will face many complex issues under the new tax act.  One issue is the new 20 percent pass–through deduction for non-C corporation businesses. The Act also has significant changes regarding depreciation and the deduction of expenses. Another item that adds complexity to tax preparation for 2018 is that the State of Iowa has not adopted the changes in federal tax law for the year 2018. I highly

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