Hundreds of financial professionals joined Barnes Dennig’s annual Accounting and Auditing Standards event on September 16 to gain insight into accounting considerations for the COVID-19 recovery economy. In a 90-minute session jam-packed with information, insight, and real-world examples, accounting industry thought leaders Tom Groskopf and Matt Rosen led attendees on
2021 was a historic year for mergers and acquisitions, with deal volume exceeding $5 trillion – and the trend shows no signs of slowing down, despite increasing economic pressure from inflation and rising interest rates. As dealmakers on both the buying side and selling side look for new ways to
An Individual Retirement Account (or IRA) is an “individual retirement plan” that is funded through personal contributions. IRAs are a great addition to traditional 401(k)s and allow individuals to save for retirement with tax-free growth or on a tax-deferred basis, depending on the type of IRA. Basic Definitions There are
The Tax Cut and Jobs Act (TCJA) brought about numerous changes to many IRS forms. To more accurately calculate employee withholding, the W-4 Employee’s Withholding Certificate was altered for 2020. The previous form focused on personal exemptions, while the new form considers all aspects of income. The new W-4 has
There are many ways to evaluate how to spend your income earned: a portion on fixed expenses, another percentage on discretionary expenses, and the balance to future savings. But what happens when you have more than one savings goal? How should the total amount saved be allocated among goals? This
When the IRS announced the moratorium on Employee Retention Tax Credit (ERTC) claims processing last month there was also mention about new additional program designed to assist taxpayers which had already filed a claim. The first is aimed at helping those who may have erroneously filed an eligible claim (Withdrawal
Big Challenges Deliver Golden Opportunities In good times and bad, your industry steps up to make sure people get the things they need. You haul fresh food to grocery stores and medical supplies to hospitals. Rain or shine, 24/7. All while dealing with increased fuel costs, labor challenges, new safety
Some businesses’ 401k and retirement plans are too small to need an external audit. Generally speaking, only when your participant count exceeds 100 will you be required to conduct a benefit plan audit. However, there is one exception to this general rule. The “80-120 rule,” as it is commonly known,
Are You Playing to Win? or Playing Not to Lose? With the unprecedented current economic situation caused by the pandemic, the Barnes Dennig team has been focusing on the state of the wholesale distribution industry and what wholesale distributors can be doing to ensure future business success. We’ve been actively
Before a potential buyer merges with or acquires a new entity, they should perform adequate financial due diligence. Looking at the seller’s audited financial statements is a great place to start, but it shouldn’t end there. Buyers may also want to gather information about the target entity’s historic and projected
When the Federal Reserve (“the Fed”) dropped interest rates for the third time in a row this past October, the business world took notice. At the time, the Fed stated their rate drops were simply insurance against a recession and not indicators one was imminent. This move may have paid
Borrowers that participated in the Paycheck Protection Program (PPP) are aware there are two primary certifications that have been and will be made with respect to their PPP loan. To receive the loan, borrowers had to make a certification of need. As they apply for loan forgiveness, the certification of