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Karli Olsen, CPA is a proactive leader in tax and accounting advisory to create efficiencies, profitability, and optimized tax structure for businesses.
Recent Insights
Personal Rentals for Business: What’s Considered Taxable Income vs. a Deduction, or Neither?
Reading Time: 2 minutesThe 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
Reading Time: 2 minutesLeasing 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 …
Read moreLeasing Standard Update: Effective Date, Balance Sheet and Call Reports Affected
PPP Forgiveness: Should Borrowers Apply Right Now?
Reading Time: 2 minutesNow 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 …
FSA Publishes Final Rule on Payment Limitation and Payment Eligibility: Key Takeaways for Producers
Reading Time: 3 minutesIn 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 …
New IRS Guidance Released to Help Employers Make Payroll Tax Deferral Decisions
Reading Time: 3 minutesYou may remember that earlier this month, the President signed an executive order directing the Department of Treasury to defer withholding, deposit, and payment of employees’ social security taxes through the end of 2020. At that point, K·Coe advisors recommended to hold tight as clarifications were needed to answer implementation …
Read moreNew IRS Guidance Released to Help Employers Make Payroll Tax Deferral Decisions
How to Handle Property Casualties in the Wake of Disaster
Reading Time: 4 minutesAs fires rage and rampage through large areas of California, the destruction of residences, outbuildings, and commercial buildings has been widespread. K·Coe Isom has been fielding questions and concerns from many of our clients regarding their property casualties from the derecho, hurricanes, and fires. Our business advisors have created an …
Read moreHow to Handle Property Casualties in the Wake of Disaster
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