In 2020, USDA launched the Higher Blends Infrastructure Incentive Program (HBIIP); this program made $100 million in grants for activities designed to increase the sales and use of higher blends of ethanol and biodiesel. On April 13th, 2022, it was announced that another $100 million in new funding would be opened for applications later this… Continue Reading

If you have a Health Savings Account (HSA) (or even if you don’t), there may be some benefits that you don’t know about. Most people understand the benefits of tax-free contributions, tax-free earnings, and tax-free withdrawals for qualified healthcare expenses. While designed primarily to help reduce the financial burden of healthcare, HSAs have some relatively… Continue Reading

Coronavirus Food Assistance Program (CFAP) Are you a farmer or rancher whose operation has been directly impacted by the coronavirus pandemic? The Coronavirus Food Assistance Program will provide direct relief to producers who faced price declines and additional marketing costs due to COVID-19. About the Coronavirus Food Assistance Program USDA Secretary Sonny Perdue announced the… Continue Reading

If you are like most businesses, the PPP Loan and its forgiveness potential drew you in immediately. You might have even experienced an expedient cash deposit. It was probably an invigorating first few days of euphoria around the office. Now, like most others you are realizing that your business does not fit neatly inside the 56-day box of forgiveness and you are probably scratching your head at the true outcome, let alone how… Continue Reading

Will the stimulus payment impact my refund next year? The stimulus payment is an advance of a new/additional credit, it will not reduce the normal amount you would receive as a tax refund. What happens if your income increases and you qualify for less? You will not have to pay back the difference (only those… Continue Reading

The IRS announced on 5/12/2020 in Notice 2020-29 that due to COVID-19, they are allowing employers the option to offer increased flexibility with respect to mid-year elections under a Section 125 cafeteria plan during calendar year 2020.  The Section 125 cafeteria plan is related to employer-sponsored health coverage, health Flexible Spending Arrangements (health FSAs), and… Continue Reading