Robert Bell, CPA, Tax Manager I’ve written about the provisions under IRC 163(j) before, but now is the time to take it seriously. Businesses are limited to the amount of interest expense they are allowed to deduct for tax purposes to 30% of Adjusted Taxable Income (ATI). The ATI calculation used to allow for the...

Matt Gardiner, CPA, CFE, Audit Manager When it comes to building and acquiring new assets for your business, there are several avenues to consider in order to finance the costs: you can either borrow funds to purchase the asset from your lender, or you can finance the asset through a leasing arrangement. Each method of...

Jim English, CPA, Partner WOW – 2022 was a wild ride! It all started in the fall of 2021 as grain prices continued to rise along with record increases in dry fertilizer and nitrogen prices. Those that could stay ahead of the rising prices saw unprecedented agronomy margins in 2022, or as one manager called...

As the world strives toward carbon neutrality, equity and inclusion, and responsible governance through the  pursuit of Environment, Social, & Governance (ESG) initiatives, it’s not just global corporations who will be taking on these challenges. A significant effort will come from small and mid-size organizations embracing this process, including the up- and down-stream supply lines...

Since the Financial Accounting Standards Board (FASB) began the process of enhancing the lease accounting standard in 2006, and after several delays of the implementation dates, it seemed that maybe this would never become a reality, but the time has come. Accounting Standards Codification 842 – Leases became effective for companies with fiscal years beginning...

How often does your company update its approved vendor list? If you are unsure, it is probably a good time to revisit and clean up your listing. The master vendor file within your accounting system determines which vendors and customers your company has vetted to do business with. Without periodic review, it is easy for...