Smart Financial Moves to Protect Your Investments in a Pandemic Economy: Traditional to Roth IRA Conversion Strategies Investments everywhere are taking a significant hit in the wake of the COVID-19 pandemic, but there are still smart financial moves you can make to minimize the impact and protect future investment growth.
The Inflation Reduction Act (IRA), signed into law by President Biden in August 2022, is designed to help fight inflation, increase investment in domestic manufacturing and energy production, lower prescription drug prices, and sharply reduce carbon emissions by 2030. It also included new and expanded tax incentives designed to reward
The Consolidated Appropriations Act (CAA) signed into law this past December includes some key provisions that have generated a lot of attention and planning efforts such as around the PPP loans and Employee Retention Credit. However, there are a number of other smaller provisions that can have a significant impact
With the election less than 7 weeks away, we have outlined each candidate’s tax plans below. Donald Trump has not released a full second-term tax plan, but has frequently talked about taxes and what his administration would like to accomplish during a second term, which we have addressed below. Joe
Supreme Court Decision on Obamacare Tax Still Unresolved as Statute of Limitations Looms on 2017 Tax Returns The Patient Protection and Affordable Care Act, sometimes referred to as Obamacare, has been challenged at the state court level, and in March of 2020, the U.S. Supreme Court decided it would take
Barnes Dennig is dedicated to helping you identify opportunities, options and strategies to minimize the impact of the COVID-19 Pandemic. Visit our COVID-19 Advisory Services Page here to learn more. The Coronavirus, Aid, Relief, and Economic Security (CARES) Act passed in the Senate in the evening of March 25, 2020.
While the new Corporate Alternative Minimum Tax (CAMT) may not apply to certain taxpayers, it may still generate additional reporting requirements. Here’s what you need to know. The Backstory The CAMT, created by the Inflation Reduction Act, imposes a 15% minimum tax on the Adjusted Financials Statement Income (AFSI) of
The IRS says they’ll propose new regulations for the treatment of controlled foreign corporations (CFCs) – with the intent of preventing double taxation on a CFC’s previously taxed earnings and profits to U.S. corporations in certain restructuring scenarios. The announcement was made on December 28, 2023, in IRS Notice 2024-16.
Forbes Magazine has named Barnes Dennig a 2021 Top Recommended Tax and Accounting Firm in America – one of only 172 firms across the country to be a recommended firm in both categories. Forbes partnered with research company Statista to conduct an independent survey and online access panel of thousands
Companies paying prevailing wages in the clean energy sector may now be able to claim tax credits, according to new Treasury and IRS regulations. In a push to stimulate growth in the clean energy sector, the U.S. Department of the Treasury and the IRS released the new regulations under the
On the surface, taking the Employee Retention Credit (ERC) is four easy steps, but we all know that nothing’s really easy. This is especially true when it comes to interpreting new legislation where not all the guidance is out yet. And, to make things even more complex, there are different
For the second year in a row, Barnes Dennig is one of the U.S.’s Top Recommended Firms in both the Tax and Accounting categories – one of only 177 firms across the nation to make both lists. More than 4,400 firms were considered in compiling this year’s list, according to