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Pinion Insights

Fuel Price Increases Prompt IRS to Increase Business Mileage Rates

By Pinion Editorial | June 9, 2022
Reading Time: < 1 minutes
In response to the recent increase in fuel prices, the IRS has issued an increase in the optional standard mileage rates for business travel effective on July 1, 2022 for the remainder of the year.   “We are aware a number of unusual factors have come into play involving fuel costs, …

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A Look at the Modern Audit: Are You Missing Out?

By Pinion Editorial | June 2, 2022
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Reading Time: 2 minutes
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 for more. But the modern audit process has changed, and businesses should raise their expectations accordingly. Today’s audit should extend beyond bringing in accountants to …

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New ERP Disaster Funds for Producers: Who Qualifies?

By Pinion Editorial | May 24, 2022
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Reading Time: 3 minutes
Under the USDA’s Farm Service Agency new disaster program, Emergency Relief Program (ERP), producers who lost crops, trees, bushes, and vines due to qualifying disaster events in 2020 and 2021 should expect to be contacted soon via a letter from FSA.  What does this mean? Producers who qualify have an …

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New Sustainability Targets for Cow-Calf and Feedyard Sectors: How to Set and Meet these Goals

By Pinion Editorial | May 10, 2022
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Reading Time: 2 minutes
With the recent announcement by the U.S. Roundtable for Sustainable Beef (USRSB) of sustainability goals for the entire U.S. beef supply chain, cow-calf and feedyard operations have been assigned a set of sustainability targets and a deadline by which to attain them. We think these goals will prove to be …

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Increased Interest Rates Spike Questions from Banks on Regulatory Capital

By Sandy Sporleder | May 5, 2022
Reading Time: < 1 minutes
On March 16, 2022, the Federal Reserve increased interest rates for the first time since 2018, and we are anticipating this to continue throughout 2022. As a result, we are starting to get questions about the impact as banks are starting to see unrealized losses on their available-for-sale (AFS) securities. …

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Employee Retention: Tips for Exploring their Strengths

By Pinion Editorial | May 5, 2022
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Reading Time: 3 minutes
Thanks to platforms like LinkedIn, recruiting practices have changed dramatically over the past several years. Gone are the days of looking for a job, and for many people, the job now looks for them. Companies hire and develop high achieving professionals, so it is no surprise that their employees are …

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The Potential Cost of Policy Changes: Will Agribusinesses Lose Out with Captive Insurance Policies?

By Beth Swanson | April 27, 2022
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Reading Time: 2 minutes
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.  Tax experts are watching closely at what may take shape moving forward.  Why?  Because it could result in high tax rates and increased premiums for …

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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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