Pinion Insights: Posts from category

COVID-19

Meal and Entertainment Deductions

Business Tax Update: Many Meal and Entertainment Deductions Have Increased

By Sandy Sporleder | January 10, 2021
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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 …

Read moreBusiness Tax Update: Many Meal and Entertainment Deductions Have Increased

Paycheck Protection Program

SBA Issues New PPP2 Guidance for Businesses

By Beth Swanson | January 7, 2021
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Reading Time: 2 minutes
Good news for businesses as guidance from the U.S. Small Business Administration (SBA) and Treasury has been issued regarding the second round of Paycheck Protection Program (PPP) funding. “It was expected that there would be changes and corrections in interpretation and meaning following the COVID-19 relief bill, and numerous SBA …

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Pinion Insights

EIDL Program Updates: Replenished Funding and New Targeted Guidelines

By K·Coe Editorial | January 4, 2021
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Reading Time: 3 minutes
While much attention has been given to the recently-signed “Consolidated Appropriations Act, 2021” that provides crucial COVID-19 relief and has created a second round of Paycheck Protection Program (PPP) loans for small businesses, a few overshadowed – but important – updates have been made to the Economic Injury Disaster Loan …

Read moreEIDL Program Updates: Replenished Funding and New Targeted Guidelines

New Stimulus Package Includes Funding for Farmers and Ranchers

New Stimulus Package Includes Funding for Farmers and Ranchers

By Kala Jenkins | December 30, 2020
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Reading Time: 2 minutes
We welcome the New Year with a new stimulus package that includes direct support for agriculture. President Trump signed the latest coronavirus relief bill on December 27, 2020, in which lawmakers combined stimulus legislation with funding USDA payments to both crop and livestock producers. The bill provides $13 billion for …

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Pinion Accounting & Advisory

Proposed Emergency Coronavirus Relief Act is Promising for Tax Deductibility for PPP Business Expenses

By K·Coe Editorial | December 16, 2020
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Reading Time: < 1 minute
Following the December 14 preview of the work-in-progress, bipartisan Emergency Coronavirus Relief Act of 2020, K·Coe Isom experts have reviewed the bill’s proposed $748 billion emergency assistance benefits intended for American Workers and Small Businesses. “In short, we’re very optimistic about the section regarding business expenses that were paid for …

Read moreProposed Emergency Coronavirus Relief Act is Promising for Tax Deductibility for PPP Business Expenses

Cash Flow Forecasting

The New Normal for Managing Forecasts and Cash Flow: 3 Steps to Move Business Forward

By K·Coe Editorial | October 16, 2020
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Reading Time: 3 minutes
Managing cash flow forecasting is, and will always be, integral elements to business success.  But 2020 has changed the course of ‘business as usual’ for the forecasting process of manufacturing operations large and small, and all around the globe.  In fact, COVID-19 has drastically changed everything we traditionally apply to …

Read moreThe New Normal for Managing Forecasts and Cash Flow: 3 Steps to Move Business Forward

Navigating Disaster Loan Eligibility

CFAP2 Payments Announced: Summary of Applicability

By K·Coe Editorial | September 18, 2020
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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 …

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work from home tax deductions

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

By K·Coe Editorial | September 17, 2020
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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 …

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

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