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2020 Year-End Tax Planning for Farmers

2020 Year-End Tax Planning for Farmers December 8, 2020 As the end of the year comes near, it is important to consider certain tax saving moves that can be made to help reduce tax liabilities for this year and future periods. If you believe any of these items may...

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2021 Payroll Frequency Phenomenon

2021 Payroll Frequency Phenomenon In any year with 365 days, there will be six days of the week that occur 52 times and one day of the week that occurs 53 times. This causes the chance of having an additional payroll when paying employees on a weekly or bi-weekly...

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Guidance on PPP Non-Deductibility Timing

Guidance on PPP Non-Deductibility Timing November 20, 2020 On November 18, the IRS released Rev. Rul. 2020-27, which clarifies the timing of the non-deductibility of expenses related to forgiven PPP proceeds. This is a follow up to the original IRS guidance issued in...

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Important PPP Updates

Important PPP Updates Simplified Forgiveness Application | Requirements for Changes of Ownership October 16, 2020 This month, the U.S. Small Business Administration (SBA) and Treasury Department have provided important updates to the forgiveness process for certain...

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USDA Announces CFAP 2

USDA Announces CFAP 2 September 21, 2020 On September 18, 2020, the United States Department of Agriculture (USDA) announced details for the Coronavirus Food Assistance Program 2 (CFAP 2). The program's purpose is to provide $14 billion in direct payment support to...

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