It’s that time of year when we reflect on what happened over the past year. Depending on where you are geographically, 2018 may be a year that you can’t wait to put in the rear-view mirror (at least I know many of your patrons feel this way). Some areas saw a wet, sometimes snowy spring...

This year started out with a whimper compared to last year’s angst over the roll out of the Tax Cuts and Jobs Act (TCJA), particularly as 199 appeared to be axed and replaced by 199A. That was probably one of the most trying times as we attempted to digest and disseminate information as it was...

In July 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update ASU 2015-11 – Simplifying the Measurement of Inventory as part of the Board’s Simplification Initiative. Under previous guidance, an entity subsequently measures inventory at the lower of cost or market; market being defined as replacement cost. Under ASU 2015-11, inventory is measured...

We are seeing more use of non-qualified patronage from the regional cooperatives. Treatment of these allocations varies from client to client, firm to firm, etc. Even our decision may change as we see the regional indicate or demonstrate they intend to revolve the non-qualified patronage. For example, CoBank specifically indicates they have no intention of...

In late April, our cooperative clients received a letter from the Board Chairman of CHS, Inc. regarding the company’s annual equity redemption program.  We have fielded a number of calls on what the letter is telling the member cooperatives regarding their non-qualified equity.  We would tell you “nothing new” (particularly from a tax standpoint). In...

Employees who make comments and express opinions that irritate, offend or anger their colleagues are a major source of workplace conflict. The same is true of employees who argue with supervisors, using inflammatory or profane language. When employees who express themselves in these ways are told to stop, they often respond: “I have a right to...