Dickinson & Clark Updates
Iowa has a special tax credit for landlords that work with beginning farmers. The tax credit varies depending on the type of lease agreement, but it can provide a significant benefit if the lessee qualifies as a beginning farmer. Qualifications for a beginning farmer for 2014 tax credit include: Maximum net worth of $678,731. Must be a resident of Iowa.
On January 28 from 2-4pm, at the Dickinson & Clark CPAs, PC office, Steve Ferguson, Ag Program Specialist with the Iowa Finance Authority, will present an educational workshop on the credits and programs available to beginning farmers and those that work with beginning farmers in Iowa. Who should attend? Farmers with net worth under $678,000.
New repair regulations from the IRS require businesses to keep a written capitalization policy if they would like to utilize the safe harbor provisions of the regulations. Companies with audited financial statements can qualify for a safe harbor capitalization policy that allows them to deduct all assets under $5,000. However, companies without audited financial statements
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Office Hours and Location
Monday — Friday, 8:00am – 5:00pm
533 S Main Street
Council Bluffs, IA 51503