Pyle & Associates, P.C.

09/15/2020

https://www.linkedin.com/jobs/view/89003350

Posted 1 hour ago. We are looking for a Certified Public Accountant to join our team! You will be responsible for…See this and similar jobs on LinkedIn.

12/05/2019

We are excited to welcome Jordan Bergman to the Pyle & Associates, P.C. team. Jordan will be joining our team of CPAs to expand our tax, advisory, and client accounting services for businesses. As a native of Ames, Jordan graduated from Ames High School and following attended Iowa State University. Jordan graduated Summa Cum Laude with a double major in Accounting and Finance. Jordan went on to obtain his CPA license and started his career as an Auditor for Ernst & Young in their Des Moines office. Jordan continued his professional career at Athene in West Des Moines where he worked as a Senior Expense Analyst and a Senior Financial Analyst.

Jordan made the move back to Ames to start work for Pyle and Associates, P.C. while his wife Sara continued her position at Iowa State University as an Assistant Teaching Professor for the Accounting Department. Sara and Jordan have two kids, Elsie and Micah, and a goldendoodle named Hilton. Jordan and Sara are avid Iowa State fans and are excited to be back in Ames!

06/03/2019

https://content.govdelivery.com/accounts/IACIO/bulletins/247f984

Do you know anyone that is installing a Geothermal Heat Pump in 2019? Iowa has changed their rules for receiving the Iowa tax credit. Make sure they read this article and check with their CPA.

Taxpayers can now apply for the Geothermal Heat Pump Tax Credit with the Department of Revenue for those who have a geothermal heat pump installed on their residence on or after January 1, 2019. Deadline to submit an application is May 1 following the year of installation.

05/17/2019

Pyle & Associates, P.C. was nominated for The Best of Story County award! We appreciate the nomination and would love your vote. Show your support for all your favorite Story County businesses with the link below.

The nominations are in and the response was overwhelming! Only the top businesses in each category made it to the final voting stage. It's now time to place your votes to determine who the winners will be. We invite you to vote for your favorites in dozens of categories. If you vote in more than 25....

12/18/2018

Do you have investments outside of tax-advantaged retirement plans? You may still have time to shrink your 2018 tax bill by selling some of them. If you’ve sold investments at a gain this year, consider selling some at a loss to absorb the gains. But if you’ve sold investments at a loss, consider selling some that have appreciated, to the extent that the gains will be absorbed by your losses. Keep in mind that tax considerations shouldn’t drive your investment decisions; also consider your risk tolerance, investment goals and other factors. Questions? Contact us!

12/11/2018

With 2019 arriving here soon, there are several tax and financial to-dos you should address before 2018 ends. For example: Incur qualifying health care Flexible Spending Account expenses by Dec. 31 to use up these funds or you’ll potentially lose them. Also, max out contributions to retirement plans. Or, if applicable, take required minimum distributions from those plans. If gift and estate taxes are a concern, make $15,000 annual exclusion gifts. Finally, check your withholding and increase it if needed to avoid underpayment penalties. Contact us to learn more.

12/04/2018

With tax law changes going into effect in 2018 and many rules applying to the charitable deduction, it’s a good idea to check deductibility before making year-end donations. First, total up your potential itemized deductions for the year, including the donations you’re considering. The total must exceed your standard deduction (which has been nearly doubled by the TCJA) for year-end donations to provide a tax benefit. Next, make sure the organization is qualified: http://apps.irs.gov/app/eos. Finally, meet the Dec. 31 delivery deadline. Contact us with questions.

11/01/2018

Did you know that you may be able to enjoy two tax benefits if you donate long-term appreciated stock instead of cash? First, if you itemize, you can claim a charitable deduction equal to the stock’s fair market value. Second, you can avoid the capital gains tax you’d pay if you sold the stock. But the charitable deduction will provide a tax benefit only if your total itemized deductions exceed your standard deduction, and the TCJA nearly doubled the standard deduction. Also, additional rules and limits apply. Contact us to learn more.

10/03/2018

If you’re age 70 1/2 or older, you can make direct contributions (up to $100,000 annually) from your IRA to a qualified charity without owing any income tax on the distributions. This break may be especially beneficial now because of TCJA changes that affect who can benefit from the itemized deduction for charitable donations. While you might be able to achieve a similar result from taking the RMD, contributing that amount to charity and taking an itemized deduction for the donation, fewer taxpayers benefit from itemizing under the TCJA. Contact us for details.

08/29/2018

When elementary and secondary school teachers are setting up their classrooms for the new school year, it’s common for them to pay for some classroom supplies out of pocket. A special tax break allows these educators to take an above-the-line deduction for up to $250 of these expenses. The deduction is especially important now due to the TCJA’s suspension of miscellaneous itemized deductions subject to the 2% of adjusted gross income floor, which before 2018 could be used for educator expenses. Contact us for details on the educator expense deduction.

08/22/2018

If you gamble, play your tax cards right with your wins and losses. Changes under the TCJA could have an impact. You must report 100% of your winnings as taxable income, but you might pay a lower rate on them because of TCJA rate reductions. Gambling losses are still allowed as an itemized deduction (up to your winnings for the year), but, with the standard deduction nearly doubled under the TCJA, you might no longer benefit from itemizing. Finally, “professional” gamblers face tighter limits on deducting their gambling expenses. Contact us if you have questions.

07/24/2018

Once upon a time, some parents attempted to save tax by putting investments in the names of their young children. To discourage such strategies, Congress created the “kiddie” tax, which has gradually become more far-reaching. Now, under the TCJA, the big, bad kiddie tax is more dangerous than ever. For 2018, an affected child’s unearned income beyond $2,100 generally will be taxed according to the brackets for trusts and estates. As a result, in many cases, children’s unearned income will be taxed at higher rates than their parents’ income. Contact us for details.