The Tax Cuts and Jobs Act, enacted in December, made sweeping changes to the United States tax system. One major change is the new deduction for Qualified Business Income (QBI). The QBI deduction allows taxpayers to deduct 20% of the income they make from pass-through trades or businesses (S Corporations,
The growth in the construction industry has moved at a quick pace and the number of new projects across various sectors spells opportunity for many local industry companies. The Bureau of Labor & Statistics has reported that construction is one of the hottest industry sectors and expects it to remain
Many manufacturing companies are looking for new ways to reduce costs and enhance profitability. For some this means upgrading equipment or streamlining processes while others focus on new customer acquisition, existing client satisfaction, technology upgrades and expanding staff skills. While each company has their individual challenges, there are also industry-wide
Are you sure you have the proper state registrations to solicit donations? To protect their citizens, states want to know about the not-for-profits that are soliciting donations in their state. Most states require a not-for-profit to register with a state agency before they solicit donations in their state. Meeting the
Barnes Dennig continually strives to go “beyond the numbers” and provide more insightful knowledge to the business community. The firm audits more than 140 plans, ranging in size from 100 to more than 3,500 participants and $300,000 to $350 million in assets. Extrapolating from U.S. Department of Labor data, Barnes
Employees with Student loan debt are provided a new boon through a 401(k) Student loan benefit program with new private letter ruling under certain circumstances. The IRS made public PLR 201833012, released on August 17, 2018, which clarifies circumstances for a 401(k) plan to offer a student loan benefit program.