January 2021 - Pinion

Strong Dollar Keeps Lid on Exports, Corn Prices for Ethanol Outlook

Ag Marketing Strategy: 5 Traits Found in Resilient Producers

August 10, 2023January 29, 2021 by Eric Osterhaus

Reading Time: 8 minutes

With the start of 2021, the obvious “silver lining” is that despite all of the headlines, we are now experiencing some of the best commodity marketing prices we have seen in the last six years. But despite the unexpected rise to profitable prices, there are still some producers feeling as …

Tax Credit Available for PPP Borrowers

June 10, 2021January 26, 2021 by Beth Swanson

Reading Time: 2 minutes

The Internal Revenue Service (IRS) has posted clarification on a simplified method to claim the Employee Retention Tax Credit for PPP borrowers. According to the IRS, a new provision under the stimulus program (signed December 2020) will allow a business to claim an ERC for 2020 using a simplified method …

Banks May Now be Eligible for ERTC Under New Guidance

August 10, 2023January 18, 2021 by Sandy Sporleder

Reading Time: 3 minutes

We’ve previously discussed the Employee Retention Tax Credit (ERTC) and how it impacts essential businesses with partial shut downs in previous issues of our GoodSense newsletter, linked below as related reads, but there have been some notable changes to the ERTC that could impact both you as a bank, and …

Understanding a Bank’s Regulatory Compliance with Payment Apps

August 10, 2023January 18, 2021 by Kerry Hatzenbuehler

Reading Time: 2 minutes

As a more frequent Venmo user lately – making garage sale payments in exchange for goods and collecting basketball fees from parents on behalf of my child’s team – I was struck by a recent article, “Dealing with App Disputes,” published in the Electronic Payments Core of Knowledge (EPCOR) newsletter. …

Business Tax Update: New 1099 Nonemployee Compensation Tax Form for 2020 Tax Year

August 10, 2023January 18, 2021 by Sandy Sporleder

Reading Time: 3 minutes

After a 38-year absence, Form 1099 Nonemployee Compensation Tax has made its return in the 2020 tax year, and its January 31 deadlines are right around the corner. Don’t panic – here’s everything you need to know about the revived form, and how it is intended to be used. For …

New Stimulus Package Includes Funding for Farmers and Ranchers

USDA Announces CFAP Program Updates: Who Benefits?

August 10, 2023January 15, 2021 by Matthew Farrell

Reading Time: 2 minutes

On January 15, the USDA announced rule changes that would provide additional assistance for many farmers and ranchers due to COVID-19 disruptions. The new rules make changes to the Coronavirus Food Assistance Program 1 (CFAP1) and Coronavirus Food Assistance Program 2 (CFAP2). Some of these changes were made following requirements …

Webinar Series Announced for Farmers from U.S. and India

January 26, 2023January 11, 2021 by K·Coe Editorial

Reading Time: < 1 minute

National food and agriculture business consulting firm K·Coe Isom, together with Mann Deshi Foundation of India, have announced a webinar series aimed to help farmers from the U.S. and India share knowledge and culture in an effort to promote cooperation in agriculture and trade practices. “With 1.3 billion people, India …

Business Tax Update: Many Meal and Entertainment Deductions Have Increased

August 10, 2023January 10, 2021 by Sandy Sporleder

Reading Time: 2 minutes

In an effort to provide additional stimulus funding, The Consolidated Appropriations Act was signed by the President on December 27, 2020. Included in the guidance were changes to deductions for business meals in tax years 2021 and 2022. New Provisions include Higher Temporary Meal Deductions In an effort to stimulate …

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