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Pinion Insights

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Navigating AI In Finance

By Pinion Editorial | June 4, 2024
Reading Time: 3 minutes
Artificial intelligence is transforming many industries, including banking and finance. Per a 2023 McKinsey global banking report, it’s estimated AI could enhance the banking sector’s productivity by up to 5% and help reduce operating expenditures by up to $300 billion. Integrating AI in the financial sector has changed how institutions …

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Beneficial Ownership Changes: What Does it Mean for Your Institution?

By Pinion Editorial | June 4, 2024
Reading Time: 2 minutes
While beneficial ownership rules have not changed for financial institutions in 2024, there was a change for the legal entity customers you serve. Here is what you need to know to help your clients through the new beneficial ownership rules. Beneficial Ownership Requirements for Financial Institutions Written procedures must be …

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45Z Tax Credit: Guidance Issued, Immediate Action Needed

By Pinion Editorial | June 3, 2024
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Reading Time: 2 minutes
On May 31, 2024, guidance was issued by the Internal Revenue Service (IRS) and US Treasury (Treasury) regarding registration requirements related to the Clean Fuels Production Tax Credit (45Z). The IRS has stated any registrations received after July 15, 2024 could be delayed, there is no guarantee registrations received before …

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Carbon Intensity FAQ: What is Fact vs. Fiction

By Pinion Editorial | May 29, 2024
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Reading Time: 2 minutes
After over a year of anticipation, the U.S. Treasury has released long-awaited guidance on the 40B Sustainable Aviation Fuel (SAF) tax credit, along with updates to the GREET model – both impacting agriculture and biofuels sectors. The release of this guidance has sparked more questions, primarily concerning carbon intensity (CI) …

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House Unveils Farm Bill After Long Delay

By Pinion Editorial | May 22, 2024
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Reading Time: 2 minutes
House Ag Chair G.T. Thompson (R-PA) released the House farm bill draft Friday, ahead of the committee’s long-awaited markup set for this Thursday. The draft contains several provisions that are likely to impact your operations and strategic planning. The release of the Farm, Food, and National Security Act of 2024 …

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Deadline Reminder: Livestock Insurance Deadline Approaching

By Pinion Editorial | May 14, 2024
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Reading Time: 2 minutes
The USDA Risk Management Agency offers two popular federally subsidized livestock insurance programs: Livestock Risk Protection (LRP) and Dairy Revenue Protection (DRP). The deadline for transferring these programs is June 30. If you are unsatisfied with your current coverage or risk management advice related to DRP or LRP, now is …

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5 Signs You’ve Outgrown Your Accounting System

By Pinion Editorial | May 12, 2024
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Reading Time: 3 minutes
Is your accounting system holding your business back? Maybe you’re so busy running the business that sorting through scattered financials seems more of a headache than it’s worth. Or maybe you’ve tried making changes and were met with responses like, “If it isn’t broke, don’t fix it”, or “We’ve always …

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Use It or Lose It: Lock in Estate Tax Advantages Now

By Pinion Editorial | May 7, 2024
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Reading Time: 3 minutes
The estate tax exemption doesn’t sunset until the end of 2025. So why worry about it now?   Unfortunately, this historically high estate and gift tax exemption offers a short window of opportunity, and it may be closing soon. If you want to preserve more of your wealth, it’s important to …

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