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Why is College so Expensive?

2019-01-01 , Beecham, Brandon , Accounting

Iowa public university tuition prices have been rising over the past few decades which has made education unattainable for those unable to afford the large price tags. The financial statements of the three Iowa public universities from 1990-2018 were analyzed. Our research found that yearly tuition and fees for an undergraduate resident, when adjusted for inflation, have increased by about $5,100 – $5,850 since 1990 and the undergraduate non-resident yearly tuition and fees increase has been around $10,100 -$20,500 depending on the university. ISU and U of I have much lower state appropriations funding on a per enrolled student than their 1990 inflation adjusted amounts; however, UNI’s state funding has remained relatively unchanged. Inversely, increased scholarship spending has decreased “true” tuition for the students that receive these funds (largely those with financial need). Additionally, instructor compensation per enrolled student has decreased significantly which, if instructors feel underpaid, could affect our faculty retention numbers and national rankings. This increasing tuition price trend and decreasing instructor compensation could negatively impact the future economic prospects of the state of Iowa and its residents.

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Implications of Tax Law on Equine Industries

2019-01-01 , Vettese, Mia , Accounting

Tax laws in the United States impact the lives and decisions of taxpayers everyday, specifically horse owners and professionals. This research aims to provide an overview of the equine industry in the United States; specifically in the areas racing, competition, breeding, and recreation. Additionally, this research will address the changes to tax law in the equine industry created by Tax Reform Acts of 1986 and Tax Cut and Jobs Act of 2017 in the United States. Finally, the implications of the changes to the tax law and code on the equine industry will be discussed.

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Retirement Savings Knowledge in the United States

2019-01-01 , Coffey, Collin , Accounting

Retirement savings is a topic that affects everyone in the United States regardless of career. Background research found that a large portion of individuals will not be able to maintain their standard of living in retirement. When surveying 67 Iowa State Students, research found that there was a lack of awareness on retirement savings. The survey included 8 questions and resulted in an average score of 34% correct. We find that retirement savings could be improved by employers enacting automatic enrollment and escalation in retirement plans and employees taking advantage of employer match programs and determining long-term needs earlier in their career. This paper serves as an educational tool for college-aged students that may help them think deeper about retirement savings when they begin their careers.

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Iowa's Hit and Run Law Hits Home

2019-01-01 , Euchner, Megan , Accounting

In 2015, a hit-and-run accident in the State of Iowa would prove fatal to a student of Iowa State University. In response to pain and suffering, an attempt to eliminate the loopholes in the Iowa Code 321.263 would prove challenging for prosecution attorney, Jessica Reynolds, State Legislature, Ashley Hinson, and supporting family and friends of the Emmalee Jacobs family. This research aims to provide insight to the history of lobbying in the United States examining methods such as insider and outsider lobbying. Additionally, this reach identifies way in which insider and outsider lobbying can be used effectively to produce favorable outcomes for drafted legislation. Lastly, the research will draw attention to a formerly introduced update proposed as New Section 321.266A later to become bill HF 484. The research will draw conclusions on the effective approach in which lobbying was used to propose change in the hit-and-run laws of Iowa while leaving room for heightened knowledge for the next introduction of Emmalee’s Law.