September 2020

PPP Applicants are Stuck Fighting Fraud due to Security Breaches

August 10, 2023September 25, 2020 by Pinion Editorial

Reading Time: 2 minutes

In recent weeks, we have learned of an uptick in fraud cases for businesses who have applied for Paycheck Protection Program (PPP) funds for coronavirus disruption relief due to security breaches. Businesses on the receiving end of this type of fraud have discovered it only after receiving an official document …

CFAP2 Payments Announced: Summary of Applicability

April 12, 2023September 18, 2020 by K·Coe Editorial

Reading Time: 3 minutes

It has been the talk of the Ag sector throughout the last few weeks: expectations for another round of Coronavirus Food Assistance Program (CFAP) for producers affected by the COVID-19 pandemic. President Trump gave official confirmation in a campaign rally speech in Wisconsin on September 17. While the original CFAP1 …

Personal Rentals for Business: What’s Considered Taxable Income vs. a Deduction, or Neither?

January 17, 2023September 17, 2020 by K·Coe Editorial

Reading Time: 2 minutes

The Internal Revenue Code provides guidelines for what activities constitute income or deductions for individual residences. Below is a high-level overview for consideration. Residence rentals: If an individual rents out a dwelling they use as a residence for fewer than 15 days per year, neither income nor deductions relating to …

Leasing Standard Update: Effective Date, Balance Sheet and Call Reports Affected

January 24, 2023September 16, 2020 by K·Coe Editorial

Reading Time: 2 minutes

Leasing Standard ASC 842 Overview This leasing standard (ASC 842) may not only affect a bank’s balance sheet, but also the balance sheet of its customers. Banks will be directly and indirectly affected by this new standard. No matter the asset size of the bank, almost all lease some type …

PPP Forgiveness: Should Borrowers Apply Right Now?

August 10, 2023September 2, 2020 by K·Coe Editorial

Reading Time: 2 minutes

Now that the SBA’s forgiveness eligibility for Paycheck Protection Program (PPP) loans is now open, are you (and your borrowers) applying for forgiveness? K·Coe advisors have been closely assessing the rules and monitoring for potential changes, and we fully expect more SBA guidance to be released on PPP forgiveness for …

What You Need to Know About Second MFP Payment

FSA Publishes Final Rule on Payment Limitation and Payment Eligibility: Key Takeaways for Producers

January 17, 2023September 1, 2020 by Pinion Editorial

Reading Time: 3 minutes

In a rather atypical fashion, the USDA published a Final Rule for Payment Limitation and Payment Eligibility on August 24, 2020. The rule states that it was published to implement mandatory changes required by the Agriculture Improvement Act of 2018 (2018 Farm Bill). Why atypical? While the Farm Service Agency …

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