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Pinion Insights

Maximize Your Deductions: Auto Depreciation Limits Have Increased

By Pinion Editorial | March 23, 2023
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Reading Time: < 1 minutes
The IRS has released the Section 280F depreciation deduction limits for passenger automobiles – including trucks and vans – first placed into service in 2023. For the second year in a row, the IRS released significantly higher limits for taxpayers. For passenger autos acquired after 9/27/17, placed in service during …

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Cyber Attack

How Vulnerable Is Your Business to a Cyber Attack?

By Melissa DeDonder | March 1, 2023
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Reading Time: 2 minutes
In light of the recent cyberattack that shut down Dole’s North American production, businesses are reminded once again of the importance of cybersecurity and keeping operations secure. “While we typically only see large operations make the headlines after a cyberattack, it’s really important to understand that hackers will penetrate and …

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IRS Extends Tax Deadline for California, Alabama, and Georgia Disaster Areas

By Pinion Editorial | February 27, 2023
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Reading Time: 2 minutes
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 and business tax returns and make tax payments. This is extended from the original deadline of May 15. The Pinion Tax team has summarized the …

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Updates on GHG Protocol Land Sector and Removal Guidance Draft

By Pinion Editorial | February 23, 2023
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Reading Time: 3 minutes
The Greenhouse Gas Protocol (GHG Protocol) is the leading international standard-setting body for GHG accounting and reporting. In September of 2022, the GHG Protocol released the Land Sector and Removals Guidance draft. While this guidance will not be finalized until late 2023, there are key details to understand now. The Pinion …

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How Producers Play a Role in 2030 Biodiversity Targets

By Pinion Editorial | February 22, 2023
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Reading Time: 2 minutes
In December 2022, the 15th Conference of the Parties (COP15) to the United Nations Convention on Biological Diversity was held in Montréal with a focus on protecting nature and halting biodiversity loss around the world. As a result, delegates agreed to the landmark Kunming-Montréal Global Biodiversity Framework. Targets and Goals In …

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R&D tax credit

R&D Tax Credit Changes for 2022 Tax Year

By Pinion Editorial | February 8, 2023
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Reading Time: 2 minutes
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 to Research and Development expenses, manufacturers could either: 1) deduct the expenses in the year incurred and take a reduced credit or 2) capitalize the …

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