International tax penalties are steep and they can add up fast, as we outlined in our International Tax Penalties – and How to Avoid Them video. But a recent Supreme Court ruling may provide some relief. Here’s what you need to know. What’s the FBAR? The Bank Secrecy Act requires
As a key member of Barnes Dennig’s tax team with deep expertise in international tax, Lauren is committed to helping her clients develop and implement strategies that minimize their tax burden. Her knowledge of the tax code and previous experience at Big Four and a national pharmaceutical company, combined with
Believe it or not, there’s still time to implement this smart strategy. The global pandemic has relentlessly hammered business owners from every angle – and while massive relief legislation eased some of the burden, it also increased the workload. Developing and maintaining alternative business operations to keep employees and customers
Taxpayers with research and development (R&D) expenses are going to have to implement a tax adjustment for 2022 – and it’s going to have a significant impact on the manufacturing industry. Here’s what’s happening, and why. Until the beginning of 2022, taxpayers had the option to either deduct 100% of
As charitable giving strategies evolve, two popular vehicles—private foundations and donor-advised funds (DAFs)—continue to shape the non-profit landscape. While both offer tax-advantaged paths for supporting charitable objectives, they’re governed by different regulations that significantly impact how funds are administered, disclosed, and distributed. Today we’re highlighting key
The One Big Beautiful Bill Act (OBBBA) brings significant changes to the way gambling losses are treated for tax purposes, effective for tax years beginning after December 31, 2025. If you’re a professional gambler or simply someone who occasionally tries their luck at the casino, it’s important to understand how
Update: On February 27, 2024, IRS Notice 2024-26 announced relief and that they will grant an administrative exemption for this requirement for withholding agents (both U.S. and foreign persons) in 2024 and for foreign persons in 2025. Original post published on February 15, 2024. Organizations with international business operations have
In our signature tax event last fall, we highlighted the changes to the proposed 2022 partnership instructions for Schedule K-2 and K-3, which continue to loom large and are impacting many more organizations than initially anticipated. Now the IRS has updated the proposed instructions to provide additional relief. That’s welcome
Ben commands a wide range of tax compliance expertise, tax consulting, and team leadership that provide immense value to the clients he serves. He’s successfully managed tax practices, guided high-performing teams, and delivered tailored, insightful tax solutions for clients with annual revenues of up to $100 million across diverse industries;
The passing of the “One Big Beautiful Bill Act” (OBBBA) will have a significant impact on individuals, with some of the most important changes affecting itemized deductions. As tax policy continues to evolve, understanding the ripple effects on individual and business planning is critical. The provisions below reflect some of
Reducing Tax Liability with an IC-DISC You’re exporting your products or services to a foreign country. As a result, you face a tremendous number of tax issues and potential new tax liabilities. Wouldn’t it be nice if you could reduce the taxes you owe? You might be able to save
ABC? DEFG? I just don’t have time to keep up with all of this financial alphabet soup! Sound familiar? Need help sorting it out? Well, you’re in luck. We-re offering 15-minute workshop sessions designed to maximize your learning and minimize your time commitment. It’s just a 990 — how hard