The straight line

What We Have Seen in 2017 Governmental entities are implementing Governmental Accounting Standards Board Statement No. 77, Tax Abatement Disclosures, (GASB 77) for the fiscal year ended June 30, 2017. This statement is being implemented to ensure that the following requirements are met – Financial Statements should include: information about whether current year revenues were...

The new tax law signed on December 22, 2017 by President Trump impacts all taxpayers in some way. We have previously issued summaries of how the tax law impacts your cooperative, member farmers and non-member farmers. Here is a summary of the high points of the law covering items of interest for cooperatives, member and...

As the 2018 year gets underway, I wanted to provide you a reminder in regards to your entities 401(k) pension plan. For those that have calendar year plans, now is the time that you or your third party administrator (TPA) will be conducting compliance testing on the 2017 activity. This is a very important step...

Upcoming Events MGFA Evening Hospitality We will participating in the Evening Hospitality Event on Wednesday, March 7th at the Minnesota Grain and Feed Association Convention and Trade Show and would love for you to stop by our hospitality booth that night starting at 5:30 PM. The convention is taking place at the Mystic Lake Casino...

This year seems to be starting with a lot of excitement, anxiety, confusion and uncertainty over the new tax law changes. How that will impact this year’s decisions, or perhaps 2019 decisions, is unknown at this point. We believe once we have a full grasp of the impact of the new tax rules, you will...

It is that time of year again. We reflect back on the firm’s 100+ cooperative client base to share what we have seen over the past year. We had a few outliers that performed much better than our overall characterization of the past year. That said, there are those that performed not as well. Here...