Final Bonus Depreciation Regulations Issued
The IRS issued final regulation on bonus depreciation under IRC Sec. 168(k) on September 16, 2019. This was a follow up to their previously issued proposed regulation released in August 2018. The final regulation clarified that qualified improvement property placed in service after 2017 is no longer eligible for bonus
Illinois Tax Amnesty October 1, 2019 – November 15, 2019, Tax and Credit Changes
Illinois’ tax amnesty program will run from October 1, 2019 through November 15, 2019 and covers taxable periods after June 30, 2011 and prior to July 1, 2018. Interest and penalties can be abated for taxpayers who move into compliance. Tax Amnesty Programs – S.B. 689 The budget bill enacts
The Non-Profit Request for Proposal: Best Practices & Focus Areas
Executive Directors and Board of Directors are tasked with many responsibilities essential to the success of a nonprofit organization. It’s imperative they offer leadership and guidance on program management, staff and volunteer recruiting, marketing, community engagement and managing fundraising programs. There is another task management must also address which includes
Research and Development Tax Credit Expansion Act
On July 22, 2019, a bill (the Research and Development Tax Credit Expansion Act) was introduced that would be effective for taxable years beginning after December 31, 2019 to expand refundability and increase simplification of the research credit for certain small businesses. The Research and Experimentation (R&E) tax credit promotes
How Manufacturers Use Benefits to Spark Improvement
Barnes Dennig, North Side Bank, and USI Insurance recently revealed the results of their 2019 Manufacturing Compensation & Benefits Benchmarking Study that surveyed regional manufacturing companies in Ohio, Kentucky, and Indiana. Of the 97 companies that participated, 48 companies had over 100 employees (large companies) and 49 companies had under
How Manufacturers Can Benefit from the Fed’s Rate Cuts
Recent Interest Rate Cuts After much speculation, the Federal Reserve reduced the interest rate on July 31, 2019. This was the first cut in over a decade. The quarter-point reduction to 2% came as an effort to primarily do three things: Increase inflation to the preferred rate of 2% per