Considerations for Selling to an ESOP

An employee stock ownership plan (ESOP) is an employee benefit plan that allows employees to share in the ownership of the company they work for. The shares are held in a trust, established by the company, for the benefit of participating employees. Generally, a company forms an ESOP which then purchases stock from the existing owner(s) at fair... Read More

Changes to Federal Tax Provisions– Inflation Reduction Act of 2022

In a somewhat surprising turn of events over the last few weeks, on Sunday, August 7th, the Senate passed as part of the budget reconciliation process the Inflation Reduction Act of 2022 (H.R. 5376) (the Act). As expected, the House proceeded to pass the Act on Friday, August 12th, thereby sending it to President Biden for his signature, which he... Read More

IRS Issues Revised Revenue Procedure for Late Portability Elections

On July 8, 2022, the IRS issued a revised Revenue Procedure, Rev. Proc. 2022-32, providing for a late portability election to qualifying estates. The new procedure extends the time period in which the simplified method to make a late portability election can be filed. Rev. Proc. 2022-32 allows the simplified method to be used on or before the... Read More

Addressing Burnout in the Workplace

Workplace burnout has become a significant concern in recent years. The COVID-19 pandemic has changed the working world’s expectations on how to prevent and address workplace burnout. The flexibility of working from home and employees reassessing their idea of a work-life balance has left employers that are unwilling to adapt, in the dust. The... Read More

Estate Planning With Pets

Who will care for your pet after you die? Can you appoint a guardian for your pet? Who will pay for your pet’s care?  If you have a pet, these are questions you may have thought about. Fortunately, you can develop a plan for your pets in your estate plan.  In Iowa, pets are treated as property under the law. This means that you cannot leave money... Read More

BrownWinick Attorneys & Staff Participate in Annual Firm Volunteer Day

BrownWinick attorneys and staff recently participated in the firm’s annual volunteer day to support several Des Moines non-profit organizations. Groups ranging from eight to 20 people volunteered at six different locations across the metro including the Animal Rescue League; Ashcraft Library Project; Boys and Girls Club of Central Iowa; Food Bank... Read More

Understanding Hemp/CBD In Iowa

What is Hemp; What is CBD?   Hemp is a type of Cannabis Sativa plant, while CBD is a naturally occurring chemical found within the plant itself. CBD (cannabidiol) is usually produced using the hemp plant, rather than the marijuana plant, which is another type of Cannabis Sativa. Hemp plants contain more CBD and less THC (tetrahydrocannabinol), the... Read More

Iowa's New & Improved Retail Alcohol Licenses: What Changes to Expect

Iowa recently enacted significant changes to its laws regarding the regulation of retail alcohol sales during the 2022 legislative session by the passing of Senate File 2374. These changes will take effect on January 1, 2023. These changes seek to make the alcohol licensing process more simplified and efficient for manufacturers, retailers, and... Read More

45Q Carbon Sequestration Tax Credit: What It Is & How To Get It

The Carbon Sequestration Tax Credit (commonly referred to as the 45Q Tax Credit) was first added to the tax code in 2008, with subsequent expansions and clarifications in 2018 and 2021. This article will walk you through the basics of what the 45Q tax credit is and how to know if you are eligible to receive it.   What is carbon sequestration?  ... Read More