Pinion Insights: Posts from category

Tax & Accounting

Summary of the IRS Transfer Pricing Audit Increase

By Pinion Editorial | May 3, 2023
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Reading Time: 2 minutes
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. In a nutshell, transfer pricing is the process that establishes whether related party transactions between parties in the U.S. and foreign jurisdictions are priced fairly. …

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Get Relief in a Tight Labor Market

By Pinion Editorial | April 18, 2023
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Reading Time: 2 minutes
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 are feeling the strain of hiring and retaining help. As producers look for new ways to keep up with their growing operational needs, many find …

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Maximize Your Deductions: Auto Depreciation Limits Have Increased

By Pinion Editorial | March 23, 2023
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Reading Time: < 1 minute
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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Tax deadline

IRS Extends Tax Deadline for CA, AL, and GA 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 minute
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 …

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

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