Pinion Insights: Posts from category

Next Gen

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Test Your Succession Plan

By Pinion Editorial | January 8, 2023
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Reading Time: 3 minutes
Proactive planning for the long-term future of your business gives it staying power. The surest way to secure the legacy of a business is to have a strong succession plan in place for ownership and management.  But what makes up a ‘strong’ succession plan vs. an ineffective one? Pinion succession …

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succession

Answering ‘Who Comes Next?’: Key Ways to Avoid Succession Failure

By Pinion Editorial | December 19, 2022
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Reading Time: < 1 minute
Ten thousand Baby Boomers retire daily. Yet only 21% of organizations report having a formal plan for succession in place. Time and time again, not having a succession plan in place has proven itself the biggest detriment for business survival in uncertain times. Pinion Next Gen Advisors share succession planning …

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Tax Inflation Adjustments

IRS Releases Tax Inflation Adjustments for 2023 Tax Year

By Pinion Editorial | November 14, 2022
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Reading Time: 2 minutes
While inflation continues to burden Americans with higher prices on what seems like everything, the IRS has released some good news for taxpayers. In October, the IRS unveiled its inflation adjustments for the 2023 tax year with many tax provisions increasing by approximately 7%. This means you could pay a …

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Multi-Generational

A Case for Multi-Generational Farming: The Result of Planning for Change

By Kala Jenkins | April 20, 2022
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Reading Time: 2 minutes
A multi-generational (six-generation) agriculture business that had been passed down from parents to their three sons engaged a succession planning expert. The three sons were married and had adult, married children, and young grandchildren. The expert started the process by having individual conversations with each family member. Through the course …

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land ownership

The Changing Dynamics of Land Ownership

By Jeanne Bernick | March 23, 2022
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Reading Time: 2 minutes
Changes in land ownership and the farming workforce are unfolding across U.S. agriculture. Among key drivers, of course, is the aging population of American farmers and ranchers: In the next 15 years, the ownership of 40% of America’s agricultural land will be in transition, mostly due to aging landowners, reports …

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How to Secure and Update an Estate Plan Ahead of Changes

How to Secure and Update an Estate Plan Ahead of Changes

By Jim Rein | May 17, 2021
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Reading Time: 2 minutes
With the buzz around Washington, D.C. about the looming tax changes ahead, estate planning is on top of the list to have the most potential for impacts to individuals and business owners.  “Our phones have seen a definite uptick in activity with questions about considerations and alterations around estate plans, …

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Estate Tax Planning

Estate Tax Planning: Possible Changes Ahead

By Jim Rein | February 16, 2021
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Reading Time: 2 minutes
No matter what the presidential outcome, there was never any question that the outlook for estate tax planning would be different in 2021.  How much different was dependent upon who controlled the presidency and the Congress.  With Democrats now in power on both of those fronts, the logical question now …

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Why Today is a Good Day to Jumpstart Your Succession Plan

Why Today is a Good Day to Jumpstart Your Succession Plan

By Kala Jenkins | October 30, 2020
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Reading Time: 5 minutes
Agricultural businesses have withstood their fair share of COVID disruption – from family life to the workplace.  While this has forced financial strain, labor disruptions, and tough decisions on producers, it has also ripened some opportunities where you might not expect them, including a Succession Plan. In times like these, …

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