This blog is part of an ongoing series highlighting tips and strategies that could help you benefit from or better manage your real estate interests. Be sure to check back to our Real Estate blog frequently to learn more. Did you Know: Self-Rentals Did you know that rental income to
As we move through 2025, retirement savers should stay informed about evolving 401(k) contribution rules that could significantly impact their tax strategies. Earlier this year, we explored how SECURE 2.0 affects retirement planning and these updates build on that foundation. Recent changes from the IRS, combined with provisions from the
Maximizing Growth and Minimizing Tax Burdens for Manufacturers Going beyond the numbers to help your business thrive The world is changing faster than ever before, and manufacturing is at the forefront, with new opportunities emerging at a blinding pace – new market demands and opportunities for innovation and disruption are
While the Build Back Better Framework (BBB) may not be passed in its current form, the proposed legislation has a few international changes that can make a difference in your upcoming tax liability. This bill is still in legislation, but here are a few of the major changes that we
One of the significant tax law changes with the One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, is related to the timing of tax deductions for research and experimental expenditures under Section 174. Amortized R&D expensing under TCJA Under the Tax Cuts and Jobs Act
At a press conference held today, U.S. Treasury Secretary Steven Mnuchin announced that taxpayers will receive a three-month extension of time to pay the income taxes owed for 2019. During the three-month deferral period, taxpayers will not be subject to interest and penalties. As of the time of this writing,
On February 18, 2021, the Committee on Ways and Means wrote a letter to IRS Commissioner Charles P. Rettig to petition the extension of the tax return filing season beyond April 15, 2021. The Service was asked to consider the request and make an announcement as soon as possible. Different
The final IRC Section 250 regulations were released on July 9, 2020. Section 250 provides deductions for Global Intangible Low-Taxed Income (“GILTI”) and Foreign-Derived Intangible Income (FDII). The final regulations are viewed as taxpayer-favorable as they reduced some documentation requirements and provided more flexibility to substantiate the deductions. In 2017,
UPDATE: As of May 2024, all funds that were allocated through June 30, 2024 have been claimed. New applications will be for the the window beginning July 1, 2024. The State of Kentucky is once again offering the Endow Kentucky Tax Credit, which allows those who take part in
Michael has nearly a decade of public accounting experience with Barnes Dennig. Over this time, he has developed a broad background in tax including federal tax, state tax, and international tax while working with US-based clients and internationally-based clients. He leverages his experience to advise clients not just on tax
Whether you’re planning your first export sale or expanding to additional markets, international expansion is a challenge – and that’s truer now than ever before. Having a reliable ally to help you navigate the intricacies of a new market can make a critical difference in your success on the
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