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
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
Like the pandemic itself, COVID-19 relief legislation brought about huge changes. The CARES Act and the recently enacted Consolidated Appropriations Act (CAA) not only brought desperately needed relief to businesses, organizations, and individuals, but also created an avalanche of tax changes. Knowing the nuances and navigating them successfully could be
The Governmental Accounting Standards Board (GASB) issued Statement No. 101, Compensated Absences (GASB 101) in June 2022. The statement is effective for periods beginning after December 15, 2023. This Statement will supersede Statement No. 16, Compensated Absences. GASB 101 will provide comparability and uniformity to recognizing liabilities for leave
A bill [1] that would provide additional relief funding for hardest-hit small businesses has passed the House and is on its way to the Senate. HR 3807 – “Relief for Restaurants and other Hard Hit Small Businesses Act of 2022” amends the American Rescue Plan Act of 2021, to increase
For many non-profit organizations, financial efficiency often plays a secondary role to fulfilling the mission of the organization. However, financial sustainability is a crucial element that determines long-term success. While grants and fundraising play a significant role in garnering resources, comprehensive financial management, particularly the development and management of operating
A big change is happening in the Commonwealth of Kentucky for businesses looking to file their taxes in 2025. Starting March 14, 2025, businesses will no longer be able to file their taxes through OneStop. Instead, they will file their taxes with MyTaxes. The MyTaxes portal will offer: A more
Protect Clients and Customers If you work in or with the healthcare or health insurance industries, the term “HIPAA compliance” is probably part of the running narrative in your head. If you’re new to those industries, brace yourself. The Health Insurance Portability and Accountability Act (HIPAA) requires the protection and
If you are a Reporting Entity, this is a reminder that the Beneficial Ownership Information Reporting (BOI) form is due by December 31, 2024. Below, you’ll find a summary of BOI and how to determine whether your company or organization may have a filing requirement. The BOI is filed electronically