Pinion Insights: Posts from category

Tax & Accounting

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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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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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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FAMLI

7 FAQs for Colorado Businesses Preparing for New FAMLI Rules

By Pinion Editorial | January 20, 2023
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Reading Time: 2 minutes
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 1, 2024. What do Colorado businesses need to know about the new law? Pinion advisors have addressed the most frequently asked questions to help you …

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DOL Guidance for Employers: Action Needed for April 1

Schedule K-2 and K-3 Filing Requirements for 2022: IRS Changes Timeline

By Pinion Editorial | December 8, 2022
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Reading Time: < 1 minutes
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 required but not filed. The initial 2022 IRS draft pass-through entity instructions required qualifying entities to send notifications to owners by January 15, but IRS …

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labor guidance

New Labor Guidance Released for Clean Energy Tax Credits

By Pinion Editorial | December 1, 2022
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Reading Time: < 1 minutes
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 Act must follow these guidelines, published in the Federal Register. The Inflation Reduction Act created and expanded several tax credits, but stipulated that taxpayers could …

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How the Holidays Can Shape Your Family Legacy

How the Holidays Can Shape Your Family Legacy

By Jeanne Bernick | November 22, 2022
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Reading Time: 2 minutes
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 in family business: the holidays! As if working with family isn’t challenging enough, now there are mandatory meals and celebrations and traditions to recreate, not …

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