The IRS has issued the 2019 standard mileage rates. These are used to calculate the deductible costs of operating an automobile for business, charitable and medical purposes. Beginning on January 1, 2019, the standard mileage rate for the use of a car, van, pickup or panel truck will be: 58 cents per mile for business miles driven, which is an increase of 3.5 cents from the 2018 rate. 20 cents per mile driven for medical purposes, which is an increase of 2 cents from the 2018

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As 2018 comes to a close, it’s time to talk about year-end planning information for businesses. Eligible businesses should consider making purchases that qualify for section 179 deduction (the liberalized business property expensing option). For tax years beginning in 2018, the expensing limit is $1,000,000, and the investment ceiling limit is $2,500,000. Note that the expensing break is limited to the amount of taxable income (as specially computed) from all of the taxpayer’

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The Iowa Department of Revenue wants you to watch out for identity theft and phishing scams. Here's what you need to know if you come across something suspicious. Is it a Scam? Did you receive a phone call, e-mail, or letter about your Iowa taxes? How do you know the communication received is actually from the Iowa Department of Revenue? The Iowa Department of Revenue does not initiate contact with taxpayers by e-mail to request personal or financial information. This include