Pinion Insights: Posts from category

Tax & Accounting

USDA Farm Program Deadlines

Perform These Financial Checks Now to Ease Farm Decisions for 2022

By K·Coe Editorial | November 12, 2021
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Reading Time: 2 minutes
With the fourth quarter of 2021 already in progress and harvest season behind us, now is a great time to perform an overall financial checks for your business. “We recommend that farm operations do this annually,” says principal Brad Palen of KCoe Isom. “Not only does it provide you with …

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family farms

Tax Update: As Proposed Tax Changes Shift Focus, Businesses Ask “What Impacts Will There Be?”

By Pinion Editorial | October 28, 2021
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Reading Time: 2 minutes
With the release of a new “Build Back Better” framework from the White House, and with news from Washington D.C. on what is being called ‘The Billionaires Income Tax’, the anticipated impact to businesses and individuals is expected to be greatly minimalized.    KCoe Isom’s tax experts have surveyed the lastest proposals and report that it …

Read moreTax Update: As Proposed Tax Changes Shift Focus, Businesses Ask “What Impacts Will There Be?”

cut taxes

It’s Time to Cut Your Taxes: Use Exemptions Now or Pay Later

By Pinion Editorial | September 29, 2021
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Reading Time: 2 minutes
“Someone’s sitting in the shade today because someone planted a tree a long time ago.” – Warren Buffett   Why Waiting to Plan for Your Estate is a Costly Gamble Let’s cut to the chase:  It’s a gut punch to hand over your hard-earned money to the IRS in the …

Read moreIt’s Time to Cut Your Taxes: Use Exemptions Now or Pay Later

Pro Tax Tips in a Strained Ag Economy

Advisors Urge Tax Planning for New Business Income Concerns

By Pinion Editorial | September 24, 2021
Reading Time: 2 minutes
While some of the highly debated tax legislation changes have been omitted from the proposed tax language, there are still a few potential pitfalls and opportunities that need attention right now. KCoe Isom’s tax advisors have assessed the potential tax implications and are recommending that businesses alter year-end tax planning …

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tax package

How the Newly Proposed Tax Package Impacts Ag: Actions Needed

By Beth Swanson | September 14, 2021
Reading Time: 2 minutes
Yesterday’s proposed tax package by the Democrats in the U.S. House of Representatives was applauded by the agriculture industry as it eliminated the possibility of changes to the step-up in basis.  “We were pleased to see the capital gains tax at death was omitted from this proposed tax language.  It …

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Employee Retention Tax Credit ERTC

A Look Ahead: Early Employee Retention Credit Expiration Proposed

By Clinton Baker | August 13, 2021
Reading Time: 2 minutes
On August 10, 2021, the Senate passed its infrastructure package detailing the federal government’s investments in America’s roads, rails, waterways, and communications systems. Among the provisions that have been slated to pay for these investments is an early end to the historic Employee Retention Tax Credit (ERTC). Under current law, …

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Senate Democrats’ Budget Release Provides Insight to Congress’s Tax Priorities

By Clinton Baker | August 10, 2021
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Reading Time: 2 minutes
An internal memo outlining the Senate’s $3.5 trillion budget framework plan was released by Senate Democrats today.  The “fully-paid-for” plan includes specific spending targets as well as a $1 billion reduction in the deficit.  KCoe’s tax advisors have broken down the highlights for impacts to taxpayers and businesses. The Tax …

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Government Affairs

Summary of Tax Impacts in Proposed Infrastructure Bill

By Pinion Editorial | August 2, 2021
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Reading Time: 2 minutes
Released late last night, the full legislative text – all 2,700 pages – of the proposed infrastructure bill has come to light.  From a first look by KCoe’s tax advisors, there seem to be no surprises from a tax perspective.  Here are the tax highlights from what we have reviewed …

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