The manufacturing sector has seen a sharp uptick in mergers and acquisitions over the past year, and the trend continues to accelerate. While COVID-19 initially stalled deal activity, within a few months production was back at pre-pandemic levels, and deal volume soared. The reality is that manufacturing is uniquely positioned
According to new guidance issued by the IRS, (Notice 2020-32) expenses paid for with debt that is forgiven will not be tax-deductible. That means that if you received a Paycheck Protection Program (PPP) loan and spent the money on qualifying expenses, and the entire amount of the PPP loan is
Give the People What They Want Technology has made it easier, faster, and more affordable than ever for people to buy the things they need. But technology is a mixed blessing for many wholesale & distribution companies. It’s accelerated their already fast-paced industry. It’s also helped create new competition. Major
The SECURE Act (Setting Every Community Up for Retirement Enhancement), passed in late 2019, included the most updates to retirement legislation in over a decade. The legislation’s goal was to encourage more Americans to improve their retirement savings. As we noted at that time, the provisions of the SECURE Act
The IRS has provided guidance to employers that provide matching retirement plan contributions based on student loan payments – a provision of the SECURE 2.0 Act of 2022. Notice 2024-63 implements Section 110 of the SECURE 2.0 Act of 2022; this section allows employers with a 401(k) plan, 403(b) plan,
We know that many not-for-profit leaders wear multiple hats. You’ve got the strategy, the mission, and the vision set. But to grow the organization, you need to know the ins and outs of running a business too. That’s why Barnes Dennig and Impact 100 hosted this 1-hour session on tax,
Emergencies can happen anytime, and they often come with unexpected financial burdens. Recognizing this, the SECURE 2.0 Act of 2022 introduced a new savings avenue – the Pension-Linked Emergency Savings Account (PLESA). The PLESA is designed to enhance financial security for workers, providing a crucial safety net in times of
In October 2023, California passed the Climate Corporate Data Accountability Act (SB 253) and the Greenhouse Gases: Climate-Related Financial Risk Act (SB 261), creating unprecedented climate-related reporting for companies beginning in 2026. In addition to certain climate-related financial risks and disclosures, the bills focus on reporting greenhouse gas emissions in
The recently signed Inflation Reduction Act contains extensive changes, including some new tax credits, changes or increases for others, and significant tax law changes. In what may be one of the biggest charts we’ve ever built (at least for a blog post), here’s a summary of what’s changing, and when.
A common perception of “estate planning” involves wealthy families managing their fortunes and negotiating complex legal documents to minimize tax burdens. In reality, estate planning is crucial for people of all income levels. It’s not just about distributing wealth but also about ensuring your wishes are respected, and your loved
As with so many aspects of our lives, the pandemic has dramatically changed the landscape of dealerships as we know them – and that’s requiring them to adapt in creative new ways. One of the largest talking points in the dealership industry is the shortage of microchips, which has caused
At the end of the 2019 calendar year, Congress passed the Taxpayer Certainty and Disaster Relief Act of 2019 (H.R.3301). One provision of the House Bill related to retroactively extending the income tax credit available for biodiesel and alternative fuels. The tax extender will provide welcome relief to companies that