Tighter margins and the financial stresses in agriculture have left many Ag lenders weary right now of the farm economy and the profitability outlook for
Cash flow management isn’t just a survival tactic when times get tough — it’s a discipline you need in both good and bad times. Recent
The truth is, AI isn’t here to take your job — it’s here to unlock your potential. By tackling inefficiencies and streamlining workflows, it’s helping
In April 2025, the Financial Accounting Standards Board (FASB) proposed significant updates to the accounting treatment of purchased financial assets under the Current Expected Credit
Automated accounting uses software to take over repetitive tasks like payroll, bookkeeping, expense tracking, and data collection. Think of it as your digital financial assistant
In today’s economy, stretching every dollar matters. But efficiency isn’t just a cost-saving tactic — it’s how ag businesses set the stage for sustainable growth.
Anyone operating a business in today’s environment is facing a horizon with a lot of uncertainty – economically and geopolitically. Manufacturing in particular has been
In times of heightened uncertainty, farm owners and managers must take proactive steps to strengthen their financial foundation. A well-organized financial picture not only provides
The IRS issued an increase in the standard mileage rates for business travel, effective January 1, 2025. While the IRS states that standard mileage rates
*Update to original post — as of February 20, 2025: Beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act (CTA) are once again
As January quickly approaches, there are some important items to check off before next year is here. Following the national election and ongoing shifts in
The 2024 election has brought about considerable potential for policy shifts in the food & beverage industry… with many businesses left asking, “What’s changing, and
The 2024 federal elections will have significant impacts on policies that affect U.S. food and agriculture. With election day in the rear-view mirror, it is
For many of you the stress of harvest season is over and now you enter a new season in family business: the holidays! As if
As your crops are rolling in this fall, don’t forget about your second harvest – crop data. Both the ag and ethanol industries have been
As we wind down one tax season and prepare for the next, the importance of diligent tax planning cannot be overstated. Unless Congress acts, there
As producers begin their annual reflection upon the past year and shift the focus into next year, planning considerations around tax and financial strategies become
The Tax Cuts and Jobs Act (TCJA), enacted in early 2018 marked one of the most significant overhauls of the U.S. tax system in decades
On June 21, 2024, Kansas Governor Laura Kelly signed into law Senate Bill 1 (SB 1), which includes a reduction in income tax rates for
Is your financial institution nearing the $500 million asset threshold? If so, you’ll need to navigate new regulations, particularly those mandated by the Federal Deposit
There’s a critical aspect of commerce that food and beverage owners and operators cannot afford to overlook: state tax nexus. Understanding tax nexus is essential
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
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
Congress has drafted new tax legislation that is shaping up well amongst both the House and Senate Committee leaders. The $78 billion tax agreement, introduced
The IRS issued a slight increase in the standard mileage rates for business travel, effective January 1, 2024. While the IRS states that standard mileage
The U.S. Treasury Department recently rolled out new guidance that has the potential to bring large opportunities for farmers and ethanol producers in the form
If you’re concerned about preserving your company’s culture during unforeseen changes or emergencies, a buy-sell agreement could be your solution. Owners who have invested years
With $369 billion allocated for climate and energy policies, the Inflation Reduction Act of 2022 marks a historic commitment to the U.S. biofuels sector. It
6 in 10 Americans have a retirement account, while only 1 in 3 have an estate plan. While the majority of Americans see the importance
In January 2021, Congress passed the Corporate Transparency Act designed to prevent the use of U.S. shell companies for money laundering, shadow investments, tax fraud,
Form BE-12 is a benchmark survey required by the Department of Treasury’s Bureau of Economic Analysis. The BE-12 must be filed every 5 years and
One of the ways the IRS is going to put its $80 billion to use is increasing the number of transfer pricing audits it conducts.
Across the U.S., farmers are feeling the pinch of a shrinking workforce. Between competition from other industries, an aging workforce population, and other factors, farmers
The IRS has released the Section 280F depreciation deduction limits for passenger automobiles – including trucks and vans – first placed into service in 2023.
The IRS issued a slight increase in the standard mileage rates for business travel, effective January 1, 2023. While the IRS states that standard mileage
On February 24, the IRS announced that disaster-area taxpayers in parts of California, Alabama and Georgia will now have until October 16 to file individual
As a reminder, the 2022 tax season represents a drastic change for manufacturers who typically take research and development (R&D) tax credits. Previously, in respect
Under the Colorado Paid Family and Medical Leave Insurance (FAMLI) program, new insurance obligations became effective on January 1, 2023, with employee benefits beginning January
The landscape of the 2022 tax season has changed with respect to the Schedule K-2 and K-3 filing reporting. Penalties apply if the forms are
On November 30, 2022 the U.S. Treasury Department unveiled the prevailing wage and apprenticeship guidance. Companies seeking clean energy tax credits under the Inflation Reduction
By Jeanne Bernick, Certified Family Business Advisor For many of you the stress of harvest season is over and now you enter a new season
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,
This past September, the Kansas Bankers Association (KBA) leaders participated in a march on Washington, D.C. to advocate for the banking community. As a graduate
As we head into tax planning season, you need to be aware of important changes coming to bonus depreciation coming January 1, 2023. The Tax
It may not be the top item on your daily agenda, but tightening and maintaining security controls is imperative, and should be something you evaluate
AB 157, signed into law by Gov. Newsom on September 27, 2022, includes the creation of the “California Small Agricultural Business Drought Relief Grant Program”,
According to the USDA, roughly 37% of the U.S. states are classified as experiencing extreme or exceptional drought as of September 2022. As water and
On August 7th, the U.S. House of Representatives voted to pass the Inflation Reduction Act (IRA) of 2022. The bill is now expected to be
Following its approval by the U.S. Senate on August 7, the U.S. House of Representatives has passed the Inflation Reduction Act (IRA) – also referred
While most companies think of audits as an annual necessity, the vast majority typically keep to the same old standards and don’t know to ask
While it’s still in its infancy, there is a notable provision amongst President Biden’s proposed green book that has advisors in the ag industry abuzz.
Technology has been empowering agriculture since machines replaced the ox and plow. Consider what GPS-guided tractors, moisture tracking sensors, plant genetics, and livestock breeding have
Until now, farmers and ranchers faced a roadblock between the key metrics they could collect and how to truly use them. The good news is
At the end of December 2021, the IRS began sending out Letter 6419 to provide information on the total amounts of the 2021 advance Child
President Biden recently signed into law the $1.2 trillion bipartisan infrastructure bill that has been stalled in Congress for several months. Below is a summary
With the fourth quarter of 2021 already in progress and harvest season behind us, now is a great time to perform an overall financial checks
With the release of a new “Build Back Better” framework from the White House, and with news from Washington D.C. on what is being called
“Someone’s sitting in the shade today because someone planted a tree a long time ago.” – Warren Buffett Why Waiting to Plan for Your
While some of the highly debated tax legislation changes have been omitted from the proposed tax language, there are still a few potential pitfalls and
Yesterday’s proposed tax package by the Democrats in the U.S. House of Representatives was applauded by the agriculture industry as it eliminated the possibility of
On August 10, 2021, the Senate passed its infrastructure package detailing the federal government’s investments in America’s roads, rails, waterways, and communications systems. Among the
An internal memo outlining the Senate’s $3.5 trillion budget framework plan was released by Senate Democrats today. The “fully-paid-for” plan includes specific spending targets as
Released late last night, the full legislative text – all 2,700 pages – of the proposed infrastructure bill has come to light. From a first
Alongside the release of President Biden’s budget proposal, the Department of Treasury has published its “Green Book” – comprised of insights into the tax proposals
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
The debate on deductibility of qualifying expenses paid with funds provided under the CARES Act or Consolidated Appropriations Act (CAA) has finally concluded for California
President Biden will unveil the details of the American Families Plan during his first address to Congress tonight (April 28, 2021). The proposal is a
With so many changes under the CARES Act, and with new administration policies yet to be determined, it’s important to note that while tax planning
The American Rescue Plan Act of 2021 (H.R. 1319) is nearing the finish line. Earlier today, the U.S. House of Representatives passed the $1.9 trillion
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
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
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
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
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
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
While ethanol and biodiesel fuels are among the most common renewable energy revenue sources accepted into the California Air Resources Board (CARB) program for Low
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
Working on behalf of American Food & Agriculture businesses, K·Coe Isom submitted an open letter to USDA Secretary Sonny Perdue on October 28, 2020 regarding
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 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:
You may remember that earlier this month, the President signed an executive order directing the Department of Treasury to defer withholding, deposit, and payment of
As 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
The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) includes increased tax credits for qualified costs incurred in the setup and
While production agriculture is no stranger to facing adversity and adaptation, no one could argue that the Economic Disruption caused by the COVID-19 pandemic has
I look out my window in Eastern Iowa and see uprooted oak trees that once stood as guardians of our neighborhood. A displaced street light
View the update from August 31, 2020 here. On August 8, the President signed an executive order directing the Department of Treasury to defer withholding,
In response to the need to provide relief to victims of the COVID-19 pandemic, many employers are considering Employer Leave Donation programs. Under these programs,
The latest Interim Final Rule (IFR) on Paycheck Protection Program (PPP) Loan Forgiveness issued by the Small Business Administration (SBA) was released just before the
On May 15, the Small Business Administration (SBA) released the long-awaited Paycheck Protection Program (PPP) Loan Forgiveness application and instructions. While there is not yet
Following its release of the Main Street Lending (MSL) program three weeks ago, the Federal Reserve has issued more detail on guidance, answered Frequently Asked
Recently, we learned that Shake Shack, the LA Lakers organization, and many other businesses have returned Paycheck Protection Program (PPP) funds due to concerns over
Earlier in April, the Small Business Administration (SBA) and Department of Treasury addressed whether businesses should include any non-U.S. laborers in their employee count applicable
With all of the coverage and focus on the Paycheck Protection Program (PPP) loans, many businesses are unaware of the Employee Retention Tax Credit (ERTC)
On April 8, 2020, the IRS issued welcomed guidance regarding the CARES Act Update in Revenue Procedure 2020-23, allowing “eligible partnerships” to file amended returns
In an effort to further help individuals and employers, the CARES Act has enacted provisions that create temporary relief through employer benefit plans changes for
Tax experts are dusting off a little-used tax opportunity (enacted in 2002 following September 11th attacks) that is coming in handy for businesses dealing with
While we patiently await more information and clarifications from the Department of Labor (DOL) on the Families First Coronavirus Response Act (FFCRA), there were some
The Stimulus package, released early today, will inject approximately $2 trillion into the economy, providing tax rebates, four months of expanded unemployment benefits, and business
As we continue to monitor the financial and tax updates and implications stemming from the impact of COVID-19, it’s important to sort through the proposals
