Community Banks

kcoe isom banking 199a

How Final Rules for Section 199A Impact Banks

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Overall Consensus on Finality is Good, Not Great On January 18, the U.S. Treasury released its much anticipated final Section 199A regulations of the Tax Cuts and Jobs Act (TCJA), which allows shareholders of Subchapter S banks to take a […]

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Weeding Out the Details of Banking an MRB

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By Heather Campbell, Certified Internal Auditor We have received multiple questions regarding banking a Marijuana Related Business (MRB) and we know there are several articles out there on it already; however, we wanted to just weed through a few of […]

New Opportunity Zone Tax Benefits Make an Attractive Investment

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Overview of the Enticing New Opportunity Zone Program Established within the Tax Cuts and Jobs Act of 2017, the new Opportunity Zone legislation was created to develop economically-distressed communities across the United States by incentivizing long-term investments in these communities […]

Don’t Forget: 2019 Standard Mileage Rates Have Changed

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The IRS issued an increase in the standard mileage rates for business travel, effective January 1, 2019, under the Tax Cuts and Jobs Act of 2017 (tax reform). While the IRS states that standard mileage rates can be applied to […]

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Tax Reform Prompts Businesses to Rethink Employee Leave Policies

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New Tax Liability Credit is Changing How Business Owners Compensate Employees During Leave While there tends to be focus on the larger line items resulting from the Tax Cuts and Jobs Act of 2017, there are some lesser-known tax breaks […]

An Ounce of Prevention (or Inspection) will Alleviate Loan Fraud

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Now is not the time to waive, omit, or procrastinate solid credit practices – such as inspections, onsite verifications, or similar procedures. The last few years have been challenging for all Ag producers. Challenging commodity prices, tariffs, weather, changing consumer […]

GAAP Update: New Lease Standards will Affect Banks

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Understanding the Impact on Balance Sheets & Borrowers You’ve probably already heard that FASB has updated the leasing standard, but what does the new standard mean for a bank? The effective date for non-public entities is December 15, 2019 (i.e., […]

Are You Financing OREO Property?

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Changes for 2019 Beginning in 2019, with the issuance of Accounting Standards Update 2014-09, community banks will have to change the way they account for seller financing of Other Real Estate Owned (OREO). This supersedes the current methods used under […]

2018 — A Year of Change and Constancy

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As 2018 nears its close, it’s important to reflect on all that has happened, as it’s certainly been an interesting year for banking. We witnessed lots of changes and plenty of forward momentum in a number of areas. Mergers and […]

ATMs Are a Cyber Risk

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Cyber risks are always changing and evolving thanks to the criminals who keep getting savvier. Business email compromise, phishing, card compromise, synthetic identities, and ransomware are all in the news daily and high on the cyber concerns list. We might […]