When you work with Barnes Dennig, you can be sure you’ve joined forces with one of the best firms in the industry. But don’t just take our word for it. We’ve received numerous awards and recognition for our culture, talent, and service. And while the greatest recognition is the great
International reporting for pass-through entities has been inconsistent in the wake of the Tax Cuts and Jobs Act (TCJA), and that’s caused problems for owners – and for the IRS. Information for owners has been left as footnotes on the K-1, which is used to report the income, losses, and
With economic uncertainty at a post-pandemic high and climbing fast, you’re likely thinking about what you can do to put your business in the best possible position to weather the storm. In our landmark Signature Tax Event, Barnes Dennig’s top tax pros come together to help you do exactly that.
It’s no secret that the IRS is struggling – and despite billions in new funding over the next decade, the challenges aren’t likely to go away any time soon. The pandemic’s seemingly never-ending impact, repeated budget cuts, understaffing, a constantly changing and overly complex tax code, and woefully outdated technology
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. Unemployment Insurance Benefits (KY) On March 16, 2020, Kentucky Governor Andy Beshear outlined changes to the state’s unemployment rules as
Ben provides a wide variety of accounting and audit, tax, and business consulting services to clients with a primary focus in closely held companies in the construction, manufacturing/distribution, and service industries. Ben also has extensive experience leading Employee Benefit Plan audits and sharing best practices with his 401(k) clients. Ben’s
The Form 1099-MISC has been used in the past to report nonemployee compensation and other miscellaneous payments to recipients and the IRS. According to the IRS website, payers should file for each person to whom you have paid during the year: At least $10 in royalties or broker payments in
https://www.youtube.com/watch?v=yHJcyGils5o Can’t watch the video? Download the transcript. Business owners may be looking forward to the day they sell their business – but not to the capital gains tax liability the sale incurs. In this short video, Managing Director of Wealth Advisory Services George Sparks shows how a tax-managed account
529 plans are an investment vehicle that allows taxpayers to save for all levels of education. Contributions are made with after-tax dollars, but accumulated earnings and qualified withdrawals are tax-free for federal taxes. If savings towards education for your child or another beneficiary is a priority to you, this type
Businesses that want to pay back the money they received after filing Employee Retention Credit (ERC) claims in error for 2021 tax periods may come forward voluntarily by applying for IRS ERC Voluntary Disclosure (VDA) in the second round of this program which runs August 15, 2024, through 11:59 pm,
The Internal Revenue Service (IRS) has announced its intention to increase audits for certain demographics of taxpayers. This move follows the passing of the Inflation Reduction Act (IRA), signed into law in 2022, which provided the IRS with an additional $80 billion in funding. The increased audits aim to enhance
What does the “One Big Beautiful Bill Act” (OBBBA) mean for your business? There’s a lot to unpack here, and we’ll be covering the implications in a series of blog posts, starting with this one. Today, we’re looking at the implications of the OBBBA for businesses, and you may also