Pinion Insights: Posts from category

Food And Beverage

Update on the Federal Minimum Increase for Exempt Workers

By Pinion Editorial | July 24, 2024
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Reading Time: 2 minutes
Beginning July 1, 2024, the Department of Labor (DOL) enforced a new rule requiring employers to meet a higher salary threshold to classify employees as exempt. Legal Challenges Against the Rule A Win for Texas: A recent court order has exempted Texas from complying with the new federal minimum salary threshold …

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Food & Beverage Manufacturing

Got Nexus? How State Compliance is Impacting Food and Beverage Commerce

By Pinion Editorial | June 21, 2024
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Reading Time: 3 minutes
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 to ensure compliance and avoid costly penalties.  “Compliance with state tax nexus laws isn’t just a corporate responsibility — it’s a personal one,” advises Karli …

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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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Navigating High Interest Rates in 2024

By Pinion Editorial | February 23, 2024
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Reading Time: 3 minutes
After nearly two years of rising interest rates, many farmers are tapping into their cash reserves from prosperous years to avoid taking out new loans. The Federal Reserve Bank of Kansas City reports that lending has softened with the amount of farm operating loans over $1 million dropping notably and …

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Amazon + Whole Foods = Pricing Adjustments?

What Kind of Farm Co-op Do You Want to Be?

By Pinion Editorial | February 8, 2024
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Reading Time: 3 minutes
Farmers need three key things for their business: the best price, the best quality, and the best service. All of these come at a cost to an Ag cooperative, and it can be especially challenging to maintain a strong margin to stay profitable and able to serve your customers in …

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Newly Proposed 2023 Tax Deductions: Money in your Pocket… If Passed

By Pinion Editorial | January 18, 2024
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Reading Time: 3 minutes
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 as The Tax Relief for American Families and Workers Act of 2024, includes pending rule changes that result in business owners seeing an increase in …

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Bakery production line with sweet cookies on conveyor belt in confectionery factory workshop, food production manufacturing

Sustainability Opportunities to Satisfy Grocery Commitments

By Pinion Editorial | January 9, 2024
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Reading Time: 3 minutes
The global food system is getting a green makeover. Domestically, grocery retail giants like Target and Kroger have set goals to reduce their greenhouse gas emissions, and they’re not stopping at their own doors. With roughly 90% of the carbon footprint coming from their supply chain in the form of …

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